Summary
Date Posted: Friday, March 10, 2023 , Base Salary: Not Disclosed

JOB DETAILS:
Location: Head Office
Reports To: Executive Director

Job Purpose
To implement and maintain the Compliance Policy and Program, highlight incidents of non-compliance to senior management and advise the business regarding regulatory and internal policy requirements including Anti Money Laundering /Combating the Financing of Terrorism (AML/CFT) and Know Your Customer (KYC) requirement.

Key Responsibilities
• Develop and implement systems, mechanisms and procedures to ensure that Bank staff immediately report suspicious money laundering or terrorism financing activity.
• Clearly define and articulate the compliance obligations for each functional area and department of the Bank with clear allocation of compliance responsibility.
• Strengthen compliance and AML risk Identification and assessment.
• Conduct an annual risk assessment relating to financial crime and Data Protection and incorporate conclusions into current policies and requirements.
• Develop and ensure maintenance of a robust system that tracks compliance to establish legal, regulatory and policy parameters and prompt escalation of any exceptions or weaknesses.
• Support management remediation plans for all incidence of non-compliance with policy/procedure and follow up implementation on a timely basis and escalating to the Board as necessary.
• Make practical and acceptable recommendations where systems and procedures are in need of enhancement to counter the risk of financial crime.
• Coordinate and maintain regulator relationships to ensure ease of communication, information sourcing, and achievement of response timelines.
• Maintain the correspondent and counterparty Bank Register with regard to AML/CFT & KYC requirements.
• Ensure that compliance to policies, procedures, standards and practices are properly communicated and followed by responsible Bank staff.
• Ensure preparation of monthly and quarterly compliance status reports for circulation to the Bank’s Board Committee and Management Committees.
• Periodically conduct audits and reviews to ensure execution of compliance standards.
• Develop, implement and monitor the robust mechanisms of tracking the Bank’s compliance to all laws, regulations and policies a tracker and review all Bank’s policies to mitigate risk of non-compliance.
• Conduct follow-up on the resolution of all identified compliance findings in Bank of Uganda examination reports, internal and external audit reports and oversee the implementation of corrective measures to mitigate the identified deficiencies.
• Monitor the enforcement and implementation of corrective measures noted in Compliance and Audit reports as per the Policies and Procedures, laws, rules and Standards.
• Develop the annual compliance work plan that reflects the organization’s unique characteristics.

Requirement
Minimum Education Qualification:
• A professional qualification (ACCA, CFA, ACIB, CPA, etc.) and/ Masters added advantage.
• Bachelor’s degree (Laws/Commerce/Statistics/Economics, etc.)

Work Experience:
• At least 7 years’ experience at Senior management level in a large reputable financial institution or related field.
• Conversant with the regulatory framework and the Bank’s operating environment
• Knowledge of KYC and Anti-money laundering regulatory requirements
• Able to personally deal with complex compliance issues.
• Demonstrates expert knowledge of Ugandan legislation affecting different Banking processes.
• Can analyse the impact of a new legislation/regulation on operations of the Bank and can translate these regulations/legislations into policies for the organization.
Note: Deadline for this job posting is 22nd March 2023 at 12:00pm and only shortlisted candidates will be contacted

Work Hours: 8

Experience in Months: 72

Level of Education: Bachelor Degree

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