Head of Legal Unit at LEAD Enterprise Support Company Limited

Job Objective/Summary:

To make a significant contribution to the direction of the Legal functions in the Microfinance Bank. The Head of the Legal Unit shall promote, lead, and manage the culture and practice of compliance within regulatory requirements and ethical standards consistent with supporting the Microfinance Bank's strategic direction and growth aspirations in the Sector.

Duties and Responsibilities:

Compliance Responsibilities:

• Establish and maintain frameworks within the Bank to ensure compliance with applicable banking regulations, internal policies, procedures, and codes to protect the reputation of the bank with its regulators and balance the needs of other stakeholders. 
• Ensure the effectiveness of the MfB's management of Legal, Compliance, and Regulatory Risk issues by taking Country level responsibility and leadership for;
• Legal, Compliance & Regulatory Risk, and Financial Crime Risk,
• To maintain close and open relationships with the regulators in Nigeria. 
• Oversee the implementation of the MfB’s Compliance policies and procedures through appropriate training and communication and, where necessary, recommend appropriate Compliance policies and procedures for approval by relevant committees. Support implementation of Business Compliance policies and procedures. 
• Working with Business Compliance where necessary, in the event of serious regulatory breaches, or where risk tolerances have been breached, responsible for ensuring the MfB’s Compliance Management is informed and that actions are taken quickly to remediate and/or activities are ceased. 
• Provide reports to MfB’s Division, Department, and Units, on key regulatory risks. 
• Advise the Chief Compliance Officer on material Compliance issues as required and provide support to the Chief Compliance Officer on material compliance and regulatory risk issues to ensure that appropriate arrangements for meeting regulatory obligations and maintaining high standards of conduct, under internal policies are established and monitored. 
• Drive the institutionalization of regulatory relationships across the Microfinance Bank and work with the Chief Compliance Officer to ensure effective Regulatory Relationship Plans are in place. 
• Generation and review of all AML/CFT Reports to Regulatory Entities within timelines. 
• Provide Support in the Preparation and coordination of all Regulatory Exercises.

Legal Responsibilities:

• Through local knowledge and relationships and communication with external lawyers, ensure that any information made on changes in local laws is conveyed to the Management.
• Ensure performance of contractual Instruments for compliance to terms and identify conflicts or changes requiring resolution at contract renewal.
• Provide legal support and documentation in respect of external funds received; review legal agreements and ensure adequate documentation for all sanctioned funds received.
• Review ongoing suits/cases and provide legal opinions accordingly.
• Review all third-party agreements and provide legal opinion before execution.
• Present to the Executive Risk Management Committee on at least a monthly basis summary report on litigations.
• Capture any local legal risks in its Reports to the Executive Management Committee.
• Draft contracts and agreements review internal policies and ensure that they comply with all statutory or legal requirements.
• Negotiate, review, and draft documentation for business transactions and prepare and advise on the necessary checklist to be adopted to ensure information is submitted on time.
• Assist in the formulation, implementation, and/or amendment of Company policies.
• Ensure Solicitors Circularization for External Audit Exercise on an annual basis.

Others:

• Perform other duties and responsibilities, as may be assigned by the Head of the Department.

Job Requirements:

• First Degree (or equivalent) in Law, Finance, Business or any related course.
• Specialist knowledge in Anti-Money Laundering, Data Protection, Financial Markets and Fraud and Ethics would be highly desirable. An LL.M or ACAMS will be an advantage.
• A minimum of 8 years’ experience working in a legal or related financial services area with experience in legal risk management and compliance monitoring/enforcement.
• Strong knowledge of regulatory requirements and industry best practices.
• Ability to manage multiple tasks and projects and prioritize effectively.
• Strong Project Management Skills.