Chief Compliance Officer at Workforce Group

Reporting Line: Managing Director

Job Brief

• Ensure and manage the bank's responsibility to comply with all Nigerian, global (and as applicable, European GDPR) regulatory, legislative and statutory AML/CFT requirements.

Key Responsibilities

• Minimise AML/CFT risks through effective monitoring and communication
• Implement appropriate AML, CFT, sanctions and financial crime prevention policies, procedures, systems and controls
• Ensure the bank’s AML/CFT standards reflect international best practices
• Inculcate a compliance culture within the Compliance Department through training
• Keep senior management informed on an ongoing basis of the quality of compliance risks, deficiencies, issues and the status of corrective actions relating to Compliance
• Provide Management with MIS on the Bank’s risk profile to enable informed decision making
• Promote, lead and manage the culture and practice of Compliance within regulatory requirements and ethical standards consistent with supporting the bank’s strategic direction and growth aspirations;
• Establish and maintain frameworks to ensure compliance with applicable banking regulations, internal policies, procedures and codes so as to protect the reputation of the bank with its regulators and balance the needs of other stakeholders
• Identify, mitigate, monitor and manage regulatory (including financial crime) risks in the bank
• Ensure the effectiveness of the bank’s management of Compliance and regulatory risk issues
• Ensure appropriate and effective risk-based monitoring is conducted bankwide
• Advise the business on all relevant regulatory and compliance matters.
• Develop and maintain a Rule Book encompassing all Compliance-related regulatory requirements spanning all business groups and products of the Group      
• Conduct periodic compliance reviews to ensure adherence to policies & procedures
• Inculcate a compliance culture within the bank through training and the dissemination of national and international findings
• Enhance the IT infrastructure supporting the AML monitoring and on-boarding processes by introducing automated transaction monitoring and filtering process
• Keep abreast with external developments in the AML/CFT Compliance arena and maintain
• Relationships with trade bodies, regulators and other groups that have input into the financial crime agenda
• Ensure suitable arrangements are in place for the internal and external reporting of suspicious activity
• Proactively identify emerging risks in the bank and develop controls for the benefit of all stakeholders using a risk-based approach
• Formulate and implement regulatory, compliance and risk management strategy
• Maintain a standard Compliance Policies and Procedural documents
• Ensuring reporting and submission deadlines are met through efficient management of the compliance timetable
• Coordinate Compliance reporting to the Board of Directors
• Build relationships with internal and external stakeholders/regulators

Qualifications & Experience

• A first Degree or its equivalent in any discipline
• Membership of the International Compliance Association will be an added advantage
• A minimum of 10 years post-qualification experience in Risk/Control functions financial services industry within the financial services industry.

Required Skills:

• Good understanding of KYC, CDD, FATCA and other related processes
• Sound compliance knowledge
• Analytical thinking
• Attention to details
• Banking Operations (domestic & international) experience
• Accounting skills
• Risk management skills
• Financial analysis skills
• Documentation skills
• Problem identification and solving skills
• Good written and oral communication skills
• Ability to communicate at both detailed and concise levels with all levels of management
• Good time management skills
• Good team management skills
• Demonstrated project management and leadership skills.