Compliance Manager at Source Microfinance Bank

Regulatory Compliance Management:

• Monitor compliance with CBN regulations, Prudential Guidelines, AML/CFT regulations, NDIC requirements, and other applicable laws.
• Ensure the Bank's operations, products, and services comply with regulatory requirements.
• Advise Management on emerging regulatory developments and compliance implications.
• Coordinate implementation of new regulatory requirements across the Bank.

 Compliance Monitoring & Testing:

• Develop and implement an annual compliance monitoring plan.
• Conduct periodic compliance reviews and testing across departments.
• Identify compliance breaches and recommend corrective actions.
• Track and follow up on remediation of identified compliance issues.

 Anti-Money Laundering (AML/CFT) Compliance:

• Serve as the Bank's AML/CFT Compliance Officer where applicable.
• Monitor compliance with KYC, Customer Due Diligence (CDD), and Enhanced Due Diligence (EDD) requirements.
• Review and monitor suspicious transactions and unusual activities.
• Ensure timely filing of Suspicious Transaction Reports (STRs) and Currency Transaction Reports (CTRs) as required.
• Coordinate AML/CFT training and awareness programs.

Policy & Regulatory Advisory:

• Review and update compliance-related policies and procedures.
• Provide compliance guidance to departments on operational and regulatory matters.
• Participate in product reviews and new business initiatives to ensure regulatory  compliance.

Regulatory Reporting & Liaison:

• Coordinate regulatory examinations and compliance reviews.
• Act as liaison between the Bank and regulatory authorities on compliance matters.
• Prepare and submit regulatory compliance reports as required.
• Ensure prompt resolution of regulatory observations and findings.

Consumer Protection & Ethical Conduct:

• Monitor adherence to consumer protection requirements and fair treatment of customers.
• Investigate compliance-related complaints and ethical concerns.
• Promote ethical business conduct and compliance awareness throughout the Bank.

Compliance Training & Awareness:

• Develop and implement compliance awareness programs.
• Conduct regular training on AML/CFT, KYC, regulatory requirements, whistle-blowing, data privacy, and ethical conduct.
• Foster a culture of compliance and accountability across the organization.

Governance & Board Reporting:

•  Prepare periodic compliance reports for Executive Management and the Board.
• Report significant compliance breaches and regulatory concerns promptly.
• Support Board Committees with compliance-related information and updates.

Requirements

• Bachelors Degree in Law, Banking & Finance, Accounting, Economics, Business Administration or related discipline
• 3-5 year experience in Compliance, AML/CFT, Internal Control, Risk Management, Audit or related function
• Experience performing above roles in a digital banking environment is important to being successful on this role
• Relevant Professional certification is an added advantage, CIBN (MCP) certification is important. Where not available, there must be commitment to certification within the first year of employment
• Strong knowledge of CBN regulations, AML/CFT laws, BOFIA, NDPR and microfinance banking operations
• Previous and proven usage of Microsoft office, accounting and core banking solutions is essential for the role holder
• Experience working with start-up is an advantage but not compulsory
• Excellent verbal and written communication and presentation skills are required