Risk Management / Compliance Officer at Zikora Microfinance Bank

Job Summary:

• The Risk Management / Compliance Officer is responsible for proactively identifying, assessing, monitoring, and reporting risks that may threaten the bank’s operations, reputation, or regulatory standing. The role also ensures strict compliance with internal policies and external regulations (CBN, NDIC, EFCC, NDPR, etc.). In addition, the Officer serves as the Credit Approval & Disbursement Custodian, ensuring appropriate authorization and control over all credit-related releases.

Key Responsibilities:

Risk Management Functions:

• Identify and assess enterprise-wide risks across credit, operational, liquidity, reputational, and strategic areas.
• Maintain and update the Risk Register and Risk Control Self-Assessment (RCSA) regularly.
• Develop, implement, and monitor risk mitigation plans.
• Conduct periodic risk assessments of all departments, branches, and products.
• Advise management on emerging risks and their potential impacts.
• Coordinate risk awareness and mitigation training for staff.

Compliance Functions:

• Ensure compliance with regulatory requirements including CBN Guidelines, AML/CFT regulations, KYC, Data Protection, and Consumer Protection frameworks.
• Monitor staff adherence to internal policies, procedures, and code of conduct.
• Liaise with regulators and respond to inquiries or reports from CBN, NDIC, or other agencies.
• Prepare and file statutory compliance reports (e.g., CRMS, STRs, CTRs, Consumer Complaints, etc.).
• Conduct compliance reviews, investigations, and recommend corrective actions.
• Monitor and enforce internal compliance with loan disbursement, expense approvals, and documentation.

Credit Approval & Disbursement Custodian:

• Serve as independent verifier of credit approvals, ensuring they align with credit policy and Board-approved limits.
• Validate completeness of credit documentation and risk assessment before disbursement.
• Authorize or co-sign release of loan funds in line with dual-control protocols.
• Track and escalate unauthorized or policy-breaching credit transactions.
• Maintain custody and audit trail of all approved credit files and disbursement records.
• Participate in credit risk committee meetings and flag potential credit risk concerns.

Reporting & Documentation:

• Prepare periodic reports on risk trends, compliance breaches, and corrective actions for Management and Board.
• Maintain accurate and secure documentation of compliance monitoring, audit findings, and remedial actions.
• Escalate material risk and compliance breaches to Executive Management and the Board.

Qualifications and Experience:

• Minimum of B.Sc. or HND in Accounting, Finance, Economics, Law, or related fields.
• Professional Certification in Risk Management, Compliance, or Audit (e.g., CRM, CCO, ACA, ACAMS, CFE, MCIB) is an added advantage.
• At least 2–5 years relevant experience in a financial institution, preferably in a microfinance or regulated banking environment.
• Strong knowledge of CBN regulations, risk management frameworks, and AML/CFT practices.
• Excellent analytical, documentation, and communication skills.
• High integrity and strong ethical orientation.

Key Competencies:

• Regulatory and policy knowledge
• Risk analysis and reporting
• Attention to detail
• Objectivity and independence
• Proficiency in Microsoft Excel, Word, and compliance software/tools
• Team collaboration and cross-functional coordination