Jobs at Source Microfinance Bank

Enterprise Risk Management:

• Develop and maintain the Bank's Enterprise Risk Management (ERM) Framework.
• Identify, assess, monitor, and report emerging and existing risks across the Bank.
• Coordinate periodic risk assessments and risk reviews.
• Maintain the Bank's Risk Register and ensure timely mitigation of identified risks.
• Promote a strong risk culture across the organization.

Credit Risk Management:

• Monitor the quality and performance of the Bank's loan portfolio.
• Review portfolio risk indicators including PAR, delinquency trends, write-offs, and concentration risks.
• Conduct independent reviews of credit proposals and risk exposures.
• Recommend risk mitigation strategies to minimize credit losses.
• Monitor adherence to approved credit policies and risk appetite limits.

Operational Risk Management:

• Identify operational risk exposures arising from processes, systems, people, and external events.
• Monitor operational loss incidents and recommend corrective actions.
• Conduct Risk and Control Self-Assessments (RCSA) across departments.
• Ensure implementation of effective internal controls.

Risk Monitoring and Reporting:

• Prepare periodic risk reports for Management, Executive Management, Board Committees, and regulators.
• Track Key Risk Indicators (KRIs) and escalate breaches promptly.
• Monitor compliance with risk limits and approved risk appetite thresholds.
• Provide recommendations on risk exposures and mitigation measures.

Regulatory Compliance and Governance:

• Ensure compliance with applicable CBN regulations, prudential guidelines, and industry standards.
• Support regulatory examinations and audits.
• Monitor implementation of regulatory recommendations relating to risk management.
• Assist in the review and update of risk management policies and procedures.

Business Continuity Management System (BCMS) and Information Security:

• Coordinate the Bank's Business Continuity Management (BCM) activities.
• Participate in disaster recovery planning and testing.
• Support information security risk assessments and controls implementation.

Training and Risk Awareness:

• Conduct risk awareness and risk culture training across the Bank (Staff and Board).
• Provide guidance to departments on risk identification and mitigation.
• Promote risk ownership at all levels of the organization.

Requirements

• Minimum of 5-8 year experience in Risk Management, Credit Risk, Internal Control, Audit, Compliance or related function
• Experience performing above roles in a digital banking environment is important to being successful on this role, show clear understanding of digital loan products: sales, collection and delinquent management 
• Relevant Professional certification is an added advantage, CIBN (MCP) certification is important. Where not available, there must be commitment to certification within the first year of employment
• Experience working in a financial institution and understanding of CBN stipulated ratio, standards, reporting and other relevant guideline is a must have
• Previous and proven usage of Microsoft office, accounting and core banking solutions is essential for the role holder
• Experience working with start-up is an advantage but not compulsory
• Excellent verbal and written communication and presentation skills is required
• Strong knowledge of credit risk assessment, financial and lending principles.

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Regulatory Compliance Management:

• Monitor compliance with CBN regulations, Prudential Guidelines, AML/CFT regulations, NDIC requirements, and other applicable laws.
• Ensure the Bank's operations, products, and services comply with regulatory requirements.
• Advise Management on emerging regulatory developments and compliance implications.
• Coordinate implementation of new regulatory requirements across the Bank.

Compliance Monitoring & Testing:

• Develop and implement an annual compliance monitoring plan.
• Conduct periodic compliance reviews and testing across departments.
• Identify compliance breaches and recommend corrective actions.
• Track and follow up on remediation of identified compliance issues.

Anti-Money Laundering (AML/CFT) Compliance:

• Serve as the Bank's AML/CFT Compliance Officer where applicable.
• Monitor compliance with KYC, Customer Due Diligence (CDD), and Enhanced Due Diligence (EDD) requirements.
• Review and monitor suspicious transactions and unusual activities.
• Ensure timely filing of Suspicious Transaction Reports (STRs) and Currency Transaction Reports (CTRs) as required.
• Coordinate AML/CFT training and awareness programs.

Policy & Regulatory Advisory:

• Review and update compliance-related policies and procedures.
• Provide compliance guidance to departments on operational and regulatory matters.
• Participate in product reviews and new business initiatives to ensure regulatory  compliance.

Regulatory Reporting & Liaison:

• Coordinate regulatory examinations and compliance reviews.
• Act as liaison between the Bank and regulatory authorities on compliance matters.
• Prepare and submit regulatory compliance reports as required.
• Ensure prompt resolution of regulatory observations and findings.

Consumer Protection & Ethical Conduct:

• Monitor adherence to consumer protection requirements and fair treatment of customers.
• Investigate compliance-related complaints and ethical concerns.
• Promote ethical business conduct and compliance awareness throughout the Bank.

Compliance Training & Awareness:

• Develop and implement compliance awareness programs.
• Conduct regular training on AML/CFT, KYC, regulatory requirements, whistle-blowing, data privacy, and ethical conduct.
• Foster a culture of compliance and accountability across the organization.

Governance & Board Reporting:

• Prepare periodic compliance reports for Executive Management and the Board.
• Report significant compliance breaches and regulatory concerns promptly.
• Support Board Committees with compliance-related information and updates.

Requirements

• Bachelors degree in Law, Banking & Finance, Accounting, Economics, Business Administration or related discipline
• Minimum of 3-5 year experience in Compliance, AML/CFT, Internal Control, Risk Management, Audit or related function
• Experience performing above roles in a digital banking environment is important to being successful on this role
• Relevant Professional certification is an added advantage, CIBN (MCP) certification is importantWhere not available, there must be commitment to certification within the first year of employment
• Strong knowledge of CBN regulations, AML/CFT laws, BOFIA, NDPR and microfinance banking operations
• Previous and proven usage of Microsoft office, accounting and core banking solutions is essential for the role holder
• Experience working with start-up is an advantage but not compulsory
• Excellent verbal and written communication and presentation skills are required