Compliance Manager, Monitoring & Enforcement at Nigerian Stock Exchange

Grade: Officer - Assistant Manager
Department: Broker Dealer Regulation Department
Report to: Team Lead, Monitoring and Enforcement
Estimated Date of Resumption: Monday, July 1, 2019

Job Summary

• The Monitoring & Enforcement Unit is involved with monitoring the activities of Dealing Members to ensure they operate in compliance with the Rules and Regulations of The Exchange and the Securities and Exchange Commission.
• The Monitoring & Enforcement team is also has the responsibility of reviewing financial and regulatory reports of Dealing Members to assess their financial state of affairs on and on-going basis and enforce the rules when breaches occur.

Key Responsibilities

• Monitoring the compliance of Dealing Member Firms with the rules and regulations of The Exchange, The Securities & Exchange Commission (SEC), and The Investment and Securities Act (ISA 2007)
• Recommend appropriate enforcement actions against defaulting firms in line with rules and regulations governing Dealing Members of The Exchange
• Liaise with relevant units and departments in the course of compliance and enforcement related activities
• Conduct risk based examinations to assess and evaluate the internal control functions and processes of Dealing Member Firms and propose methods of improvement
• Review and analyze periodic renditions from Dealing Members of The Exchange and ensure that such renditions are prepared in line with relevant accounting standards and the rules and regulations governing Dealing Members of The Exchange
• Monitor Dealing Members financial performance, capital adequacy and liquidity management
• Assist in the development and implementation of new rules, policies and guidelines
• Prepare reports on the trends and composition of foreign and domestic transactions carried out by stockbroking firms and custodians
• Prepare market circulars and bulletins for publication
• Preparation of periodic reports for both internal and external stakeholders
• Maintain a database for tracking compliance history and deadlines granted to firms
• Send frequent notifications and reminders to defaulting firms ahead of deadlines
• Monitor the status of Dealing Member Firms
• Prepare and update the Broker TraX reports on a weekly basis
• Preparation of periodic compliance/disciplinary reports for both internal and external stakeholders
• Perform other tasks as assigned by the Unit Head or Head of the Department
• Develop innovative solutions to enhance the efficiency of the department

Qualification and Experience

• A minimum of five (5) years compliance or forensic auditing experience obtained from a financial regulator, operator or a reputable audit firm
• Minimum of a Bachelor's Degree in Accounting, Finance, Economics, Statistics, or related fields
• MBA or Professional qualifications in Finance such as ACA, ACCA, CPA etc
• Experience in any of the Big 4 Audit firms or as a CBN certified Bank Examiner is an added advantage

Functional Competencies:

• Data Management
• Project Management
• Research and Analysis
• Risk Management

Behavioural Competencies:

• Attention to Detail
• Collaboration
• Inter-Personal Relations
• Problem Solving
• Result Oriented
• Team Player