1. Compliance Advisory
- Anticipate and address complex regulatory issues, identify emerging risks, and propose effective solutions.
- Communicate complex compliance issues clearly and persuasively and engage stakeholders in risk-based decision making.
- Champion a culture of continuous learning and improvement, fostering innovation and creativity, and promoting knowledge sharing across the organization.
2. Regulatory Compliance
- Understand regulatory requirements applicable to the bank's operations.
- Demonstrate ability to comply with legal requirements and company policies and procedures.
- Possess the ability to identify and report potential compliance issues and risks.
- Participate in training and development programs related to legal compliance.
3. Risk Management Compliance
- Exhibit in-depth knowledge of the complex regulatory environment related to risk management and compliance in the banking industry.
- Evaluate the level of compliance with regulations related to risk management and compliance.
- Analyze risk management compliance issues.
4. Compliance Tools and Technologies
- Demonstrate proficiency in the use of compliance tools and technologies effectively.
- Identify and mitigate advanced compliance risks that arise when using these tools and technologies.
- Understand the underlying technology of these tools and how to integrate them into the overall compliance architecture.
- Design and implement compliance systems and processes that utilize complex technologies.
- Proactively identify ways to improve compliance tools and technologies.
- Train and mentor others in the use of compliance tools and technologies.
5. Industry Best Practices
- Apply industry regulations and standards to specific situations.
- Identify and reports potential compliance issues to appropriate stakeholders.
- Analyze and evaluate compliance risks.
- Participate in compliance training and development opportunities.
6. Compliance Reporting
- Independently review relevant data sources for accuracy and completeness.
- Identify potential reporting issues and escalate, as necessary.
- Accurately complete complex reports using established processes and templates.
- Demonstrate significant knowledge of relevant software and data systems used for reporting.
7. Stakeholder Engagement (Regulators)
- Independently review relevant data sources for accuracy and completeness.
- Identify potential issues on responses to request and escalate where necessary.
- Accurately complete reports/observations analysis using established processes and templates.
Key Performance Indicators:
1. Compliance Advisory
- Successfully address at least two (2) complex regulatory issues per quarter and propose effective solutions.
- Achieve positive feedback from stakeholders indicating clear and persuasive communication and active engagement in risk-based decision-making in at least 90% of interactions.
- Achieve a participation rate of at least 80% in continuous learning initiatives, contributions in at least two innovative and creative projects per year, and active engagement in knowledge-sharing activities.
2. Regulatory Compliance
- Achieve a proficiency level of 95% or higher in understanding regulatory requirements applicable to the bank's operations.
- Achieve a compliance rate of 98% or higher in complying with legal requirements and company policies and procedures.
- Identify and report at least X (number of) potential compliance issues and risks within the quarter.
- Successfully complete all required training and development programs related to legal compliance within the designated timeframe.
3. Risk Management Compliance
- Achieve a proficiency level of 85% or higher in understanding the complex regulatory environment related to risk management and compliance.
- Maintain a compliance rate of 95% or higher in adhering to risk management and compliance regulations.
- Analyze and resolve at least three risk management compliance issues per quarter.
4. Compliance Tools and Technologies
- Achieve a proficiency level of 85% or higher in the effective use of compliance tools and technologies.
- Identify and mitigate at least two advanced compliance risks per quarter related to the use of these tools and technologies.
- Achieve a proficiency level of 90% or higher in understanding the underlying technology and integration of these tools into the overall compliance architecture.
- Successfully design and implement at least two compliance systems and processes per year utilizing complex technologies.
- Provide at least four suggestions or improvements for compliance tools and technologies per year.
5. Industry Best Practices
- Achieve a minimum accuracy rate of 95% in applying regulations and standards.
- Report all identified compliance issues promptly and with 100% accuracy.
- 100% timeliness in completing all assigned compliance risk assessments.
- Successfully complete a minimum of 90% of assigned training and development programs, as per the bank's training schedule.
- Achieve an average rating of 4 out of 5 or higher on the quality of investigation reports.
6. Compliance Reporting
- Achieve an accuracy and completeness rate of 95% or higher for independently reviewed data sources.
- Identify and escalate all potential reporting issues within 24 hours of discovery.
- Achieve an accuracy rate of 98% or higher for complex reports completed.
- Achieve a proficiency level of 90% or higher in using relevant software and data systems for reporting.
7. Stakeholder Engagement (Regulators)
- Achieve an accuracy and completeness rate of 95% or higher for independently reviewed data sources.
- Identify and escalate all potential issues in response to requests within 24 hours of discovery.
- Achieve an accuracy rate of 98% or higher for reports/observations analysis completed.
Requirements
- Bachelor’s Degree in Banking & Finance, Business Administration, Law or any related field.
- 8-10 years cognate experience
- Additional academic qualification is an advantage.
- Relevant Professional certification (CIBN, DCP, ACAMs, ACA, ACCA, ICAN etc) is an advantage
