Job Purpose

Provide management with independent and objective compliance oversight in line with the Enterprise Risk Management Framework.

Key Responsibilities/Tasks

Regulatory Compliance Oversight:

• Primary responsibility is to maintain a comprehensive understanding of all relevant country and local banking laws, regulations, and guidelines.
• Continually monitor the regulatory landscape, staying vigilant for changes that may affect our operations.
• Collaborate closely with the legal and regulatory affairs teams to interpret and implement compliance changes effectively, ensuring that our bank always remains in strict compliance.

Policy Development and Enhancement:

• Spearhead the development, review, and updating of our bank’s compliance policies, procedures, and manuals and ensure they are uploaded in the intranet.
• Ensure that our policies reflect the most current regulatory requirements and that they are clearly communicated to all relevant departments and personnel.

Risk Assessment and Mitigation:

• Responsible for conducting comprehensive risk assessments across all facets of our bank’s operations on compliance risk.
• Guide the identification of potential compliance risks, enabling you to develop strategies and action plans to mitigate these risks effectively.
• Continually monitor the effectiveness of these strategies, making adjustments as necessary to maintain compliance.

Training and Education:

• Design and deliver comprehensive compliance training programs for our employees.
• Programs will be tailored to the specific roles and responsibilities of different staff members.
• Establish and oversee continuous education initiatives to ensure that our staff remains informed about evolving regulations and compliance expectations.

Reporting and Documentation:

• Prepare and submit regular compliance reports to our senior management and relevant regulatory authorities.
• Ensure that our compliance records are well-organized and up to date, facilitating easy retrieval when needed.

Internal Audits and Reviews:

• Conducting periodic internal compliance audits and reviews will be a core part of your responsibilities.
• Identify any instances of non-compliance, and you will collaborate closely with our audit and risk management teams to address and rectify any compliance deficiencies promptly.

Investigations and Incident Management:

• When compliance-related incidents arise, such as customer complaints, potential fraud, or suspicious transactions, you will lead the investigations into these matters.
• Implementing corrective actions and preventive measures to mitigate future risks will be essential in your role.

Anti-Money Laundering (AML) Program Oversight:

• Managing our bank’s AML program.
• Oversee crucial components such as customer due diligence, transaction monitoring, and the reporting of suspicious activities.
• Staying updated on emerging AML threats and regulatory changes.

Privacy and Data Protection:

• Encompasses ensuring that our bank strictly complies with data privacy laws and regulations.
• Safeguarding customer information and developing and maintaining robust data protection standards and practices.
• Overseeing the organization’s data protection practices
• Implementing and maintaining data protection policies
• Liaising with the Tanzanian Personal Data Protection Commission
• Providing data subjects with information about their rights
• Managing data security breaches
• Training staff on data protection obligations
• Responding to data subject access requests

Vendor Risk Management:

• You will evaluate and manage compliance risks associated with third-party vendors and service providers.
• Compliance Risk – Daily monitoring of transactions and report any suspicious transactions to Head of Risk and Compliance
• Audit Compliance – In liaison with Heads of Departments, follow up on Audit Agreed Recommendation Plans (ARP) queries and reports
• Inform and advice the management regarding proposed and pending regulatory changes.
• Support the Head of Risk and Compliance in preparing risk related reports eg. MRC, Board papers etc.
• Prepare training materials for risk and compliance related trainings whenever required.

Skills, Knowledge and Abilities

• Knowledge of banking industry and banking regulatory frameworks
• Critical Thinking and Problem-Solving skills
• Analytical and Math Skills
• Knowledge on Microsoft Applications
• Interpersonal Skills
• Communication skills

Academic / Professional Qualifications

• Bachelor’s degree in business administration, Banking, Finance or related field
• A minimum of 3 years working experience in similar role

• Provide management with independent and objective compliance oversight in line with the Enterprise Risk Management Framework.
• Maintain a comprehensive understanding of all relevant country and local banking laws, regulations, and guidelines.
• Continually monitor the regulatory landscape, staying vigilant for changes that may affect our operations.
• Collaborate closely with the legal and regulatory affairs teams to interpret and implement compliance changes effectively, ensuring that our bank always remains in strict compliance.
• Spearhead the development, review, and updating of our bank’s compliance policies, procedures, and manuals and ensure they are uploaded in the intranet.
• Ensure that our policies reflect the most current regulatory requirements and that they are clearly communicated to all relevant departments and personnel.
• Conduct comprehensive risk assessments across all facets of our bank’s operations on compliance risk.
• Guide the identification of potential compliance risks, enabling you to develop strategies and action plans to mitigate these risks effectively.
• Continually monitor the effectiveness of these strategies, making adjustments as necessary to maintain compliance.
• Design and deliver comprehensive compliance training programs for our employees.
• Establish and oversee continuous education initiatives to ensure that our staff remains informed about evolving regulations and compliance expectations.
• Prepare and submit regular compliance reports to our senior management and relevant regulatory authorities.
• Ensure that our compliance records are well-organized and up to date, facilitating easy retrieval when needed.
• Conducting periodic internal compliance audits and reviews.
• Identify any instances of non-compliance, and collaborate closely with our audit and risk management teams to address and rectify any compliance deficiencies promptly.
• Lead investigations into compliance-related incidents, such as customer complaints, potential fraud, or suspicious transactions.
• Implement corrective actions and preventive measures to mitigate future risks.
• Manage our bank’s AML program.
• Oversee crucial components such as customer due diligence, transaction monitoring, and the reporting of suspicious activities.
• Stay updated on emerging AML threats and regulatory changes.
• Ensure that our bank strictly complies with data privacy laws and regulations.
• Safeguard customer information and develop and maintain robust data protection standards and practices.
• Oversee the organization’s data protection practices.
• Implement and maintain data protection policies.
• Liaise with the Tanzanian Personal Data Protection Commission.
• Provide data subjects with information about their rights.
• Manage data security breaches.
• Train staff on data protection obligations.
• Respond to data subject access requests.
• Evaluate and manage compliance risks associated with third-party vendors and service providers.
• Daily monitoring of transactions and report any suspicious transactions to Head of Risk and Compliance.
• In liaison with Heads of Departments, follow up on Audit Agreed Recommendation Plans (ARP) queries and reports.
• Inform and advise the management regarding proposed and pending regulatory changes.
• Support the Head of Risk and Compliance in preparing risk related reports eg. MRC, Board papers etc.
• Prepare training materials for risk and compliance related trainings whenever required.

• Knowledge of banking industry and banking regulatory frameworks
• Critical Thinking and Problem-Solving skills
• Analytical and Math Skills
• Knowledge on Microsoft Applications
• Interpersonal Skills
• Communication skills

• Bachelor’s degree in business administration, Banking, Finance or related field
• A minimum of 3 years working experience in similar role