Compliance Officer

Job Category: Leadway Assets Management Location: Lagos

JOB VALID TILL

Application valid till Friday, 9th August 2019

JOB OBJECTIVE

The role is required by regulation to ingrain good corporate governance and compliance culture into the fabric of our operation. It is expected to be embedded into the corporate strategy of the company. The long-term intent is to establish a sanction free compliance environment where the tone for compliance appreciation is set at the top.

DIMENSIONS OF THE JOB:

Zero sanction regime
Legal adviser to the business
Opex management
Product development

KEY RESULT AREAS-JOB OUTPUT Vs. TASKS AND ACTIVITIES KRA’S

Management of the Regulatory Compliance Dashboard:

  • Ensure timely remittance of Regulatory Returns in the Dashboard.
  • Constantly update the Regulatory Compliance Dashboard after release of new guidelines and circulars by the relevant regulators.
  • Circulate the Regulatory Compliance Dashboard to all staff after every update.
  • Ensure Returns preparers are constantly reminded and followed up to observe submission timelines.
  • Obtain CCO validation of updated Regulatory Compliance Dashboard.

Dissemination of Regulatory Information:

• Disseminate Regulatory Information to employees across the Company.
• Ensure that the company complies with regulatory requirements and guidelines issued by relevant authorities for the conduct of business in the industry.
• Provide Impact Analysis of newly released guidelines to the Senior Management.

Regulatory Returns Vetting and Submission:

  • Vet and review the company’s periodic reports/returns which are rendered to regulatory bodies, and ensure their adequacy, correctness and completeness
  • Co-ordinates reports from department to beat submission timelines.
  • Ensure acknowledgement copies of submission letters of the Regulatory Returns are adequately filed up.
  • To submit all statutory reports that should emanate from Compliance Department e.g. GoAML, PEP etc.
  • Establish that the stipulated templates are used for each returns or design or create an appropriate one for adoption.

Regulatory Queries and Fines:

  • Provide appropriate responses to queries and alleged infractions of rules.
  • Mobilise relevant departments to satisfactorily conclude regulatory query/enquiry within the period specified.
  • Write letter to SEC to relevant Departments detailing a breakdown of explanations
  • Lead regulatory review during product development.
  • Reporting to the Senior Management and Board on alleged queries and infractions.

Regulatory Queries and Fines:

  • Provide appropriate responses to queries and alleged infractions of rules.
  • Mobilise relevant departments to satisfactorily conclude regulatory query/enquiry within the period specified.
  • Write letter to SEC to relevant Departments detailing a breakdown of explanations
  • Lead regulatory review during product development.
  • Reporting to the Senior Management and Board on alleged queries and infractions.

Develop Key Risk Indicators:

  • Develop and maintain an entity-wide GRC Risk Profile that highlights the compliance KRIs and to deploy strategies to mitigate the risks.
  • Routine Reports to MANCOM.

Compliance and AML/CFT Knowledge:

  • Monitor compliance with conduct of business regulatory requirements and knows what is and is not ethical.
  • Demonstrates an understanding of the concept of corporate governance as it applies to the organization.
  • Develop and drive basic compliance education, appreciation and awareness campaigns at the lower level of the enterprise e.g. Internal & External Training.
  • Monitor compliance with the company’s AML/CFT Framework.
  • Check insured names against the names on Sanction List to identify reportable entities / individuals
  • Request for updated Sanction list from regulators, FATF, UN
  • Escalate immediately, all identified entities and file Sanction Report with NFIU
  • Conduct Mock Inspection in preparation for SEC Target Inspection.

Compliance and AML/CFT Knowledge:

  • Monitor compliance with conduct of business regulatory requirements and knows what is and is not ethical.
  • Demonstrates an understanding of the concept of corporate governance as it applies to the organization.
  • Develop and drive basic compliance education, appreciation and awareness campaigns at the lower level of the enterprise e.g. Internal & External Training.
  • Monitor compliance with the company’s AML/CFT Framework.
  • Check insured names against the names on Sanction List to identify reportable entities / individuals
  • Request for updated Sanction list from regulators, FATF, UN
  • Escalate immediately, all identified entities and file Sanction Report with NFIU
  • Conduct Mock Inspection in preparation for SEC Target Inspection.

Legal counsel:

  • Provide legal opinion on product development
  • Provide legal advise on client related matters
  • Review agreement with clients, service providers, counter-parties and partnerships
  • First base legal counsel and relationship management with external counsel

Periodic Reports to Executive Mgt. & Board Committees:

  • All compliance reports are to be reviewed by the Chief Compliance Officer before they are sent to the MD/CEO AND Key compliance reports are to obtain the approval of the MD before they are submitted.
  • Report key exceptional compliance developments to the Board Committee stating the potential risks and mitigation measures.
  • All confidential compliance reports must be escalated to the CCO and same discussed with the MD before submission to regulators.
  • Compliance report should highlight infractions and the financial implication stating the responsible division or departments.

KNOWLEDGE ,SKILLS AND BEHAVIOUR

Educational qualifications & functional /technical skills

  • A BSc or HND in any Business Management and Finance related courses.
  • A degree in Law
  • Membership of Association of Risk Management (ARM) and Association of Money Laundering Specialists (ACAMS)
  • Proficient in the use of Basic Windows, Applications- Excel, MS Office Word 2010, Internet and E-mail.
  • Financial Analysis and Interpretation of Accounts
  • Basic knowledge in Governance, Risk and Compliance.
  • Adequate experience and continuous development/education in GRC

Relevant experience (type of experience and minimum number of years

  • Experience for this role should not be less than 3 years.

Attitude and behavioural traits

  • A team player
  • Assertiveness in expressing opinions
  • Ability to foster good work relationship and engagement with regulators
  • Good communication skill and Inter-personal relationship
  • Compliance and risk management intelligence and skill-set.

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