Risk & Compliance Officer-(GL6)
Listing reference: capbg_000067
Listing status: Online
Apply by: 23 November 2024
Position summary
Industry: Insurances
Job category: Compliance, Security and Auditing
Location: South-East District
Contract: Permanent
EE position: No
Introduction
Responsible for providing specialist assistance to CIH Insurance Brokers with the management of compliance in line with NBFIRA Act, Insurance Industry act, Financial Intelligence Act, AML/CFT procedures , Data protection Act and any other relevant legislation. Ensure compliance to internal risk management frameworks and to implement specified compliance policies in line with the Capricorn Group Requirements
Job description
1. Compliance
• Interprets, local, Regional, and international anti-money laundering policies recommendations
and develops strategies for monitoring compliance.
• Develops business specific anti-money laundering compliance program.
• Assesses compliance to statutory and regulatory requirements.
• Provide regular compliance training on AML/CFT and Anti-Fraud Management, focusing on
identified gaps and obligations under the FI Act, NBFIRA Act, and other regulations.
• Promotes a compliance culture within CIH insurance brokers.
• Provide input into the continued development of the compliance methodology based on own
experience, research conducted, and information received from stakeholders.
• Pro-actively monitor key risks in terms of allocated regulatory requirements.
programmes, compliance findings, opinions by business units’ and provide detailed feedback within agreed timelines.
• Regularly reviewing and advising on the implementation of and compliance with any proposed legislation.
• Develop risk management plans, controls, and fraud risk assessment methodologies to proactively monitor suspected fraud cases.
• Develop, initiate, maintain, and revise policies and procedures for the Compliance Program to prevent illegal, unethical, or improper conduct.
• Interprets, local, Regional, and international anti-money laundering policies recommendations
and develops strategies for monitoring compliance.
• Develops business specific anti-money laundering compliance program.
• Assesses compliance to statutory and regulatory requirements.
• Provide regular compliance training on AML/CFT and Anti-Fraud Management, focusing on
identified gaps and obligations under the FI Act, NBFIRA Act, and other regulations.
• Promotes a compliance culture within CIH insurance brokers.
• Provide input into the continued development of the compliance methodology based on own
experience, research conducted, and information received from stakeholders.
• Pro-actively monitor key risks in terms of allocated regulatory requirements.
programmes, compliance findings, opinions by business units’ and provide detailed feedback within agreed timelines.
• Regularly reviewing and advising on the implementation of and compliance with any proposed legislation.
• Develop risk management plans, controls, and fraud risk assessment methodologies to proactively monitor suspected fraud cases.
• Develop, initiate, maintain, and revise policies and procedures for the Compliance Program to prevent illegal, unethical, or improper conduct.
2. Risk Management
• Develop and document compliance risk management plans in accordance with Generally accepted Compliance Practice and the Group`s compliance framework;
• Facilitate the implementation of controls documented in risk management plans and
communicate the compliance risk management plans to affected parties;
• Use the compliance risk profile to prioritize the development of risk management plans;
• Facilitate and/ or effect the periodic review and update of risk management plans and establish whether there are any updates to the regulatory requirements that should be addressed in the risk management plan;
• Develop and document compliance risk management plans in accordance with Generally accepted Compliance Practice and the Group`s compliance framework;
• Facilitate the implementation of controls documented in risk management plans and
communicate the compliance risk management plans to affected parties;
• Use the compliance risk profile to prioritize the development of risk management plans;
• Facilitate and/ or effect the periodic review and update of risk management plans and establish whether there are any updates to the regulatory requirements that should be addressed in the risk management plan;
3. Reporting
• Ensure effective monitoring and timely reporting of the most significant risks.
• Preparation of the monthly Risk Assessment Report.
• Preparation of the AML risk assessments.
• Timely and accurately reports progress on ERM Implementation.
• Manages Go-AML platform (Reporting of suspicious transactions).
• Preparation of risk and compliance board submissions.
• Develop and implement registers of all applicable regulators and supervisors and Identify regulations applicable to CIH insurance Brokers.
• Ensure effective monitoring and timely reporting of the most significant risks.
• Preparation of the monthly Risk Assessment Report.
• Preparation of the AML risk assessments.
• Timely and accurately reports progress on ERM Implementation.
• Manages Go-AML platform (Reporting of suspicious transactions).
• Preparation of risk and compliance board submissions.
• Develop and implement registers of all applicable regulators and supervisors and Identify regulations applicable to CIH insurance Brokers.
Minimum requirements
- Degree in Law (LLB), Business Administration/Risk Management or equivalent from a recognised university
- Qualification in risk management is an added advantage
- COP is an added advantage.
- 5 (five) years’ work experience 3 (three) years of which should have compliance & risk
experience in the financial/insurance services industry. - Ability to interpret and apply FIA Act, Insurance industry act, NBFIRA Act and other regulatory
requirements. - Computer literacy (knowledge of MS Word, MS Excel, and MS Outlook) • Excellent oral and
written communication skills. - Excellent analytical and problem-solving skills.
- Familiar with processes for developing, revising, monitoring, and implementing corporate
policies, terms of reference and manual - Certification in a professional association such as the Association of Certified Anti Money
Laundering Specialists (ACAMS) will be an added advantage.