Senior Compliance Officer at Umba

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