Job Title: Chief Compliance Officer
Location: Port Harcourt, Rivers
Job type: Full time
Job Description
- To lead the Bank's compliance function and ensure that its operations, products, services and business activities remain compliant with applicable laws, regulations, regulatory directives and internal policies.
- The Chief Compliance Officer will provide independent compliance oversight, with particular responsibility for regulatory compliance, AML/CFT, KYC, customer due diligence, sanctions screening and regulatory reporting, helping to protect the Bank's license, reputation and financial integrity.
Key Responsibilities
Compliance Framework and Regulatory Governance:
- Develop, maintain and continuously improve the Bank's compliance framework, policies, procedures and regulatory obligations register.
- Monitor changes in applicable laws, regulations, CBN directives, NDIC requirements and other regulatory expectations and advise Management on their implications.
- Conduct periodic compliance assessments across the Bank's business and operational functions.
- Identify regulatory compliance gaps and recommend appropriate corrective actions.
- Maintain appropriate documentation and evidence of compliance activities.
- Provide independent compliance advice to Management and the Board on material regulatory matters.
AML/CFT and Financial Crime Compliance:
- Lead the Bank's AML/CFT compliance framework in accordance with applicable regulatory requirements.
- Establish and maintain appropriate controls for identifying, assessing and managing money-laundering and terrorist-financing risks.
- Oversee transaction monitoring and ensure unusual and potentially suspicious activities are appropriately reviewed and escalated.
- Coordinate the investigation and reporting of suspicious transactions and other reportable activities to the appropriate authorities.
- Maintain appropriate AML/CFT records, documentation and reporting processes.
- Monitor the effectiveness of the Bank's financial crime controls and recommend enhancements where required.
KYC and Customer Due Diligence:
- Establish and enforce appropriate customer identification and verification standards.
- Oversee the Bank's KYC and customer due diligence framework across all customer segments and channels.
- Ensure enhanced due diligence is applied to higher-risk customers, relationships and transactions.
- Monitor the completeness, accuracy and currency of customer information and documentation.
- Conduct periodic reviews of customer risk classifications and due diligence requirements.
- Work with Operations, Business and Risk to address KYC deficiencies promptly.
Sanctions, PEP and Screening Controls:
- Oversee sanctions, politically exposed persons and other relevant customer screening processes.
- Ensure appropriate escalation and investigation of potential screening matches.
- Maintain effective procedures for reviewing and resolving sanctions and PEP alerts.
- Monitor the effectiveness of screening systems and controls.
- Ensure compliance with applicable sanctions and regulatory requirements.
Regulatory Reporting and Liaison
- Prepare, review and coordinate timely submission of compliance-related regulatory returns and reports.
- Maintain a regulatory reporting calendar and ensure all compliance submissions are completed within prescribed timelines.
- Serve as a principal compliance contact for regulators, working alongside the MD/CEO and other relevant executives.
- Coordinate responses to regulatory enquiries relating to compliance and AML/CFT matters.
- Support regulatory examinations and ensure identified compliance issues are appropriately addressed.
Compliance Monitoring and Testing:
- Develop and implement a risk-based compliance monitoring programme.
- Conduct periodic reviews and testing of business processes, customer files, transactions and regulatory controls.
- Identify compliance breaches, control deficiencies and emerging regulatory risks.
- Escalate material compliance issues to Management and, where appropriate, the Board.
- Track remediation of compliance findings to closure.
- Maintain an appropriate record of compliance incidents, breaches and corrective actions.
Compliance Training and Awareness
- Develop and deliver regular compliance, AML/CFT and regulatory training programmes for employees.
- Ensure employees understand their responsibilities regarding KYC, AML/CFT, sanctions, customer protection and regulatory compliance.
- Maintain training records and monitor completion rates.
- Provide targeted training where specific compliance weaknesses or regulatory changes are identified.
- Promote a culture of regulatory compliance and ethical conduct throughout the Bank.
Product and Business Advisory:
- Advise Management and business functions on the regulatory implications of new products, services, digital channels and partnerships.
- Review proposed products, customer journeys and third-party arrangements from a compliance perspective.
- Participate in relevant product and technology development processes to ensure compliance considerations are incorporated from inception.
- Provide practical recommendations for managing regulatory risks without unnecessarily restricting legitimate business activities.
Management and Board Reporting:
- Provide regular compliance reports to the MD/CEO and relevant Board committees.
- Report significant compliance breaches, AML/CFT risks, regulatory developments and unresolved issues promptly.
- Present compliance trends, monitoring results and remediation status to Management and the Board.
- Provide recommendations for strengthening the Bank's compliance environment
Requirements
- First Degree in Law, Accounting, Finance, Economics, Banking, Business Administration or another relevant discipline.
- Professional certification in compliance or AML/CFT, such as CAMS or an equivalent recognised certification, is desirable.
- CIBN membership or relevant professional banking certification is an advantage.
- A relevant postgraduate qualification is an added advantage.
Experience:
- Minimum of 10 years' relevant professional experience, with at least 3 years in a senior compliance, regulatory, AML/CFT or financial crime role within financial services.
- Experience in a Microfinance Bank, commercial bank, fintech, payments institution or other regulated financial institution is strongly preferred.
- Demonstrable experience in AML/CFT, KYC, transaction monitoring, regulatory reporting and regulatory examinations is required.
Core Competencies:
- AML/CFT and financial crime compliance
- KYC and customer due diligence
- Transaction monitoring and investigations
- Sanctions and PEP screening
- Regulatory interpretation
- Compliance monitoring and testing
- Regulatory reporting
- Risk assessment and control evaluation
- Investigative rigour and attention to detail
- Regulatory stakeholder management
- Ethical judgement and professional integrity
- Clear communication and advisory skills
Performance Measures:
- Timely and accurate submission of regulatory and AML/CFT-related reports.
- Effective KYC and customer due diligence compliance across the customer base.
- Timely identification, investigation and escalation of suspicious activities.
- Completion and effectiveness of AML/CFT and compliance monitoring programmes.
- Compliance training completion and employee awareness levels.
- Timely closure of compliance findings and identified regulatory gaps.
- Effective management of regulatory examinations and compliance requests.
- No material regulatory sanctions attributable to preventable compliance failures.
- Effective implementation and continuous improvement of the Bank's compliance framework.
Application Closing Date
Not Specified.
Interested and qualified candidates should:
Click here to apply online
