Chief Compliance Officer at Money Trust Microfinance Bank

Role Summary

• We are seeking to hire an experienced Chief Compliance Officer whose primary responsibility is to oversee compliance within the bank, ensuring compliance with laws, regulatory requirements, policies, and procedures.
• As the compliance leader and subject matter expert, the CCO is responsible for establishing standards and implementing procedures to ensure that the compliance programs throughout the organization are effective and efficient in identifying, preventing, detecting, and correcting noncompliance with applicable laws and regulations.
• The CCO has to provide reasonable assurance to senior management and the Board that there are effective and efficient policies and procedures in place, well understood and respected by all employees, and that the company is complying with all regulatory requirements.
• The CCO must report directly to the Managing Director. He must also inform the Board about important issues and material violations.

Responsibilities
Drive Compliance Culture:

• Develops and champions an organization-wide framework for compliance and quality consistent with Moneytrust’s strategic goals and mission and creates a comprehensive and effective execution plan to support successful implementation.
• Develop an effective compliance, quality education, and training program, including introductory training for all new employees, ongoing training for all employees and supervisors, and specialized training as needed.
• Designs, communicates and executes initiatives designed specifically to promote awareness and understanding of compliance, quality issues, applicable laws and regulations, reporting requirements, and the consequences of non-compliance.
• Ensures alignment of quality improvement and compliance initiatives with the organization's strategic plan and directs the day-to-day execution of strategies and tactics implemented to improve outcomes and results for both the organization and the people we support and regularly evaluates for potential efficiencies and improvements.
• Promotes an awareness and understanding of positive ethical and moral principles, consistent with the mission, vision, and values of MoneyTrust.

Internal Process Improvement:

• Works closely with the MoneyTrust Leadership Team in the establishment of key performance indicators (KPIs) and monitors trends to evaluate effectiveness, reliability, and efficiency of operations and makes recommendations for improvement, process redesign, etc. Directs or participates in the review, investigation and analysis of incidents for risk and adverse event identification.
• Recommends interventions that will enhance the safety and well-being of people we support, staff, and the organization at large and mobilizes departmental or administrative support to identify and address risk areas.
• Establishes and enforces policies, procedures, and controls that ensure company-wide compliance with all Federal, State, Local, and other relevant regulatory agency requirements and cooperation with appropriate entities in any audit, survey, inquiry, or investigation across the branch and service centers.
• Develops, disseminates, and interprets compliance policies and standards consistent with laws and regulatory requirements, which promote the organization's commitment to compliance and business integrity.
• Maintains an awareness of laws and regulations and regularly monitors regulatory requirements to keep abreast of changes that may affect MoneyTrust services or operations, and provides timely information regarding analysis and recommendations of regulatory changes and their impact on operational leaders.
• Ensures efficient processes for documenting all compliance, quality, incident management, and safety-related initiatives and activities, as appropriate or required. Establishes methods to leverage best practices, monitor adherence to policies, procedures, and legal/regulatory requirements, and leads efforts to identify and evaluate exposures and correct defective processes.
• Designs and leads performance improvement projects to ensure milestones and KPIs are met within defined parameters.

Risk & Compliance Management:

• Collaborates and coordinates with administrators and other departmental leaders on all risk management issues and designs, and coordinates and informs various aspects of safety and risk management programs for the entire MoneyTrust team.
• Conducts periodic risk assessments to determine compliance priorities and utilize findings to inform decision-making, develop strategies to mitigate risk, and establish goals to address areas of concern.
• Facilitates and oversees regular internal and external audits, risk analyses, and compliance reviews (billing/fiscal and regulatory) to ensure the organization's adherence to established policies, procedures, laws, and regulations, identifying areas for improvement and ensuring readiness for regulatory audits and surveys, including those determined by relevant regulators.
• Serves as the primary resource for the organization on complex compliance, quality, incident management, and ethics matters and sits on committees as assigned or as necessary, including chairing the compliance committees.
• Develops and manages departmental budget, leading cost-efficient and effective operations and ensuring that operations are within budgetary guidelines, periodically providing education to the Board of Directors and updates to the Board or a sub-committee thereof.
• Performs all related work, as assigned.

Job Requirements

• Minimum of B.Sc. or Master’s degree in Accounting/Banking, Finance/Economics, Mathematics
• Must have a minimum of 8-10 years experience working as a Chief Compliance Officer of a Microfinance Bank or a Commercial Bank.
• Any of these will be an added advantage - ACA - Associate Chartered Accountant, or CIA - Certified Internal Auditor, CRCMP -Certified Risk &Compliance Management Professional.

Technical Competencies:

• Microsoft Office Suites &SQL.
• Must have Hands-on experience using BankOne Software
• Must have a strong understanding of licensing processes for fintech and banks.
• Experience working with CBN and Regulators.
• Must have prior working experience as a CCO or in a similar capacity.
• Must have a practical Banking Compliance &Regulatory Knowledge
• Must have strong conceptual and Analytical Skills.
• Knowledge of general Anti-Money Laundering (AML) principles including, CIP/KYC principles.
• Experience in project management.
• Ability to comprehend and interpret policies, procedures, laws, regulations & guidelines to communicate and advise management.
• Great understanding of the operating environment and all-around knowledge of how all units within the bank operate.
• Knowledge and effective application of all relevant banking policies, processes, procedures, and guidelines to consistently achieve required compliance standards or benchmarks.
• Knowledge and experience in modern Risk and Compliance Risk Management practices to initiate and implement tactical changes to support business performance.

Behavioral Competencies:

• Performance Management – Have the ability to optimize own and team productivity.
• Leadership Skills – Ability to work and inspire team performance to achieve a high degree of job performance and influence
• Communication Skills – Have excellent written and verbal communication skills and also be able to convey ideas &positions clearly.
• Planning &Organizing – Ability to establish priorities, plan, coordinate, and monitor own work plan.
• Collaborative Skills – Ability to work effectively with a team in carrying and executing assignments.

Other Benefits:

• Tuition Reimbursement
• Health Insurance
• Pension
• Group Life Insurance