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  • Posted: Jul 15, 2024
    Deadline: Not specified
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  • Umba is an African neo bank that offers a combination of services that both traditional and digital banks offer. Making us a one stop shop for your financial needs. We want to provide free, easier, and accessible banking to Africans.
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    Senior Compliance Officer

    About The Role 

    • Umba is seeking a seasoned Compliance officer to join our dynamic team.
    • The role is essential to ensuring that our activities comply with legal, regulatory as well as market-specific compliance standards.
    • When you join the Umba team, you will take up the responsibility of renewing existing licenses/approvals whilst also acquiring new licenses, developing and implementing compliance policies and processes amongst others.

    Objective

    • To ensure Umba is complying with applicable laws, rules, and regulations, as well as internal policies; and mitigate/minimize regulatory, reputational, or financial risks

    Responsibilities

    • To ensure compliance by Umba and prevent regulatory sanctions from non-compliance, monitor Umba’s overall adherence to the regulations of relevant regulatory authorities.
    • Identify and assess risk areas and thereafter develop  internal policies/mitigants that will significantly reduce the likelihood of occurrence of those risks.
    • Develop and implement an organization-wide compliance plan and periodically advise management on the status of implementation
    • Review and analyze regulatory circulars and policies, letters, and exposure drafts, outlining areas of compliance for Umba.
    • Identify and resolve operational gaps and reconciliation issues to prevent operational/fraud/business losses.
    • Review new products, processes, and procedures before implementation.
    • Provide accurate and timely reports to assist Management in decisions making .
    • Ensure existing licenses and regulatory approvals are renewed as and when due, whilst also acquiring new licenses  that aligns with Umba's business objectives and growth trajectory
    • Conduct regular compliance audits and assessments to evaluate the effectiveness of compliance measures and identify areas for improvement.
    • Encourage a culture of awareness and attentiveness by providing internal teams with compliance-related information and training.
    • Liaise with external regulatory bodies, legal advisors, and partners to ensure a strong network of compliance support and up-to-date knowledge.

    You could be a great fit if you have the following:

    • A demonstrated track record of at least 5 years in a compliance role with exposure to emerging markets, ideally in the Fintech or commercial banking sectors.
    • Bachelor's degree in Law, Business, Finance, or a related field; advanced degree or relevant certifications (e.g.DCP, CAMS, CFE, CAFCA) is a plus.
    • Excellent interpersonal and communication abilities to work well with internal teams, outside partners, and regulatory authorities.
    • Strategic attitude with the capacity to strike a balance between Umba’s corporate goals and industry/government regulations, promoting innovation while upholding a solid ethical basis.
    • Strong analytical skills to evaluate complicated regulatory concerns and create workable solutions.
    • Ability to manage regulatory audits during regulatory inspections and examinations, and providing responses to auditors
    • A good knowledge of the extant banking regulations
    • Transaction monitoring skills for Suspicious Activity Reporting

    Check how your CV aligns with this job

    Method of Application

    Interested and qualified? Go to Umba on umba.applytojob.com to apply

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