Director of Compliance at TalentintheCloud

Job Description

• A hyper growth ‘Challenger Bank’ is looking for a Director of Compliance​ to add to their team of disruptors, trailblazers, innovators and risk-takers.
• As their Director of Compliance,you will develop a comprehensive regulatory compliance framework and be responsible for implementing and maintaining processes, systems and controls to ensure our client’s compliance across multiple jurisdictions, ultimately keeping them on the right side of the authorities. In this role, you will be operating in a fast-paced environment balancing between making on-boarding fun and effortless, helping create features that are super innovative, and at the same time making sure our client doesn’t run foul of the law.
• The Director of Compliance will be instrumental in ensuring that an adequate framework is created and maintained with respect to compliance. You will be required to interact with multiple external partners and internal stakeholders and will ideally come from a background working in banking or FinTech with a deep understanding of technology and financial services. Reporting directly into the CEO this is a chance for you to join a bank that actually works for the customer, a close knit and collaborative team in a flat organisational structure where even the most junior person has a voice.

Main Responsibilities

• Develop, implement and maintain a framework of policies and procedures for managing and mitigating operational and compliance risks, in line with laws and regulations across multiple jurisdictions
• Design and implement relevant compliance processes including know your customer (KYC), anti-money laundering (AML), sanctions and combatting the financing of terrorism (CFT)
• Perform risk assessments to understand risk level, significance and scope to their operations
• Master a deep understanding of the rules and regulations governing the Nigerian market in which they operate, including monitoring any changes and developments
• Determine resource requirements for the compliance department and further build the compliance team
• Responsible for identification and assessment of the regulatory and conduct risks associated with the firm’s activities, including the development of new products and services
• Recommend system and control enhancements to ensure compliance and conduct risks remain within our clients appetite
• Supervise the monitoring and testing of regulatory compliance controls by performing second line reviews
• Build strong business partnerships with first line functions to advise and challenge on projects and initiatives across Bank activity with regard to regulatory and conduct risks
• Oversee the gathering of internal information to meet external regulatory reporting obligations
• Supervise the fulfilment of all record-keeping requirements
• Investigate irregularities and non-compliance issues
• Act as a point-of-contact for all employees on issues relating to money laundering, terrorist financing and receive reports on non-compliance with laws or company policies
• Compile regular reports on risk and compliance performance that can be shared with management or the Board Risk Committee, senior management and regulators where appropriate
• Support their product and market expansion initiatives by overseeing efforts to apply for new licenses when needed
• Ensure regular information dissemination and coordinate training across the company on compliance issues
• Review marketing materials, presentations and websites to ensure compliance with regulatory requirements
• Oversee any internal and external audits or regulatory examinations
• Manage third party vendor risk reviews and vendor due diligence
• Collaborate with other departments to create a culture of compliance across the company

Mandatory Requirements / Qualifications

• 8+ years in a senior risk and compliance role
• A comprehensive and deep knowledge of relevant CBN guideline topics,regulations and expectations
• A clear understanding of financial services, financial technology, consumer lending and the banking business model
• Experience in banking/payments/financial services
• Ability to develop deep relationships with regulators (Central Banks or other regulatory bodies)
• Excellent sense of judgment - able to help steer the company to balance innovation and growth with regulatory compliance
• Previous experience as an auditor is useful (not essential)
• Ability to thrive, adapt and embrace change in rapidly-changing regulatory environment