Compliance Manager at African Export-Import Bank (Afreximbank)

Nature & Scope

• Advise the Bank on laws and regulations of countries in the region of activity and ensure that bank’s activities, agreement with local customers, products, are aligned with local regulatory requirements.
• Ensure that compliance processes are embedded into the commercial approach.
• Participate to the roll out of the Group Compliance Monitoring Plan, adapt it to local legal and regulatory requirements, perform reviews then report to Head Office
• Advise the business in terms of Compliance best practices.
• Become the MRLO and liaise with local authorities in charge of the fight against Money Laundering and Terrorism Financing.
• Ensure Staff ML/CFT education
• Prevent unethical, illegal, or improper conduct in the Bank.
• Responsible for establishing standards and implementing procedures to ensure that compliance programs throughout the division are effective and efficient in identifying, preventing, detecting, and correcting noncompliance with applicable rules and regulations.

Responsibilities

Anti-Money Laundering and Counter-Terrorist Financing (AML/CTF):

• Identified as the key stakeholder of the COMP Department in the fight against money laundering and terrorist financing through embedding a compliance culture across the Bank and ensuring that the Bank’s infrastructure is not willfully compromised to facilitate proceeds of crime or funding of terrorism activities.
• Ensure that the Bank’s standards related to anti-money laundering policies, and practices are effectively implemented and followed by all of staff. Perform assessments for compliance with internal policies and procedures on anti-money laundering.
• Monitor AML/CFT and fraud trends, intelligence, typologies, and regulatory developments; and make recommendations to implement or improve transaction controls and/or monitoring programs accordingly.
• Regularly perform checks to ensure that the controls in place are adequate to mitigate the Bank against money laundering risks.
• Participate in the design, execution, and management and the Bank’s compliance framework.
• Assess compliance with AML/CTF regulations of countries where the Bank’s programs distributed, and proactively identify and evaluate potential and emerging risks that may require program enhancement
• Interact with senior management in compliance, legal, risk, and business units concerning AML/CTF issues and compliance processes.
• Collaborate with enterprise-level and business units to ensure successful program execution. Serve as trusted advisor, subject matter expert, and partner to business units throughout the organization
• Design, execute, and manage internal reviews based upon review objectives, risks, and regulatory requirements.
• Manage the Bank’s AML/CTF monitoring and assessment system and provide Management and Board an overview of the ML/FT and Sanctions risks the bank is facing and the related mitigating actions.
• Manage Bank’s AML/CTF system improvement project under the supervision of the Director Compliance
• Manage internal reviews across different products, services, and entities. Ensure regular review of the product.
• Centralise interaction and communication with country FIUs.
• Design and manage the Global Anti-Money Laundering Questionnaires and Supplement Guides.
• Be a stakeholder on product risk assessments, new business initiatives.
• Assess the impact to business units of meeting compliance requirements and help them optimize for business results and lead initiatives to streamline and simplify processes
• Assess and manage AML/CTF risks linked to new project lifecycle and work with key stakeholders to deliver risk mitigation plans and strategy as needed
• Coordinate the AML/CTF training program (to staff, Management and Board) of the Bank and ensure updates based upon changes in risks associated with products, regulations, laws, risk appetite, etc.

Managing Financial Crime Compliance:

• Wo Review all CDD (Customer Due Diligence) reports provided by the CDD Analyst and check for completeness and probe for further information as is required.
• Coordinate the collection of management information and statistics as required for Customer Due Diligence reporting.
• Coordinate the follow-up of recommended actions identified during CDD Analysis and monitoring.
• Regularly perform checks to ensure that the controls in place are adequate to mitigate the Bank against Financial Crime risks.
• Participate on managing the Bank’s compliance monitoring platform (sanction screening, risk ranking and transactions monitoring).

Financial Crime Intelligence

• Perform analysis of Global and regional trends regarding money laundering, terrorist financing and other illicit cross boarder financial crimes and make recommendations to implement or improve transaction controls and/or monitoring programmed accordingly.
• Provide input and support the Head of Compliance in producing reports to Senior Management on global and regional trends.
• Ensure that the Bank’s subscriptions on watch lists providers are up-to-date and relevant.

Compliance Program

• Support the Head of Compliance in design, implementation, and oversight of the Bank’s compliance controls and monitoring programs that meet best standards practices and align with a risk-based approach.
• Research, analyze, identify, propose guidance or problem resolution, and prepare memos, presentations, and other documents on all topics impacting compliance controls and monitoring programs.
• Identify compliance and corporate governance key risk indicators; define and maintain periodic monitoring and reporting.
• Draft communication and training Programmes for Employees, Senior Management and Board of Directors.
• Conduct annual Compliance reviews to ensure that all staff are compliant, and they are knowledgeable of their obligations as employees of Afreximbank.

Any other duties

• Perform any other departmental duties and responsibilities as may be assigned by the Head of Compliance Department that enables the Department to maintain a balance between routine Businesses as Usual (BAU) and adhoc tasks at any given time.
• Build relationship with country regulators to enhance knowledge of requirements that the Bank’s customers must comply with.
• Build relationship with the FATF regulatory body, GIABA, to ensure aligned of the Bank’s processes with best practices.

Requirements: Qualification and Skill

• Bachelor’s degree in Business Administration or relevant degree in related areas such as Banking, Risk Management, legal or equivalent in addition to a post graduate degree in a related field.
• A professional qualification will be an advantage.
• Demonstrable experience of minimum 8 years of the Compliance functions in a financial institution, and familiar to trade finance products.
• Must demonstrate the ability and sound knowledge of KYC/AML requirements.
• Ability to review customer KYC/CDD documentation, assess inherent AML risks and produce a detailed report that will be used to decide by the Bank.
• Ability to interpret policy documents and provide inputs where required.
• Good knowledge of banking regulations in Nigeria, ECOWAS, and compliance leading practices.
• Must possess excellent verbal and written communication skills in English. Knowledge of the Bank’s other working languages (French, Portuguese, and Arabic) are an added advantage.
• Excellent report writing skills
• Ability to interact with senior officials of banks, corporate entities, and governments.
• ability to work under pressure with minimum supervision.