Head of Governance and Compliance

Purpose of the Job: To be responsible for compliance including oversight on governance and adherence to country laws, regulatory requirements, policies and procedures.

Critical Deliverables /Core Accountabilities and Responsibilities:

Regulatory Compliance:

1. Policy Development: Develop, implement, and update regulatory compliance policies and procedures to ensure alignment with local and international regulations.

2. Monitoring and Testing: Design and conduct compliance monitoring, testing, and periodic reviews to assess the organizations adherence to regulatory requirements.

3. Risk Assessment: Conduct regulatory risk assessments across products, services, and operations to identify, assess, and mitigate compliance risks.

4. Stakeholder Engagement: Act as the primary point of contact with regulatory bodies and respond to regulatory inquiries, requests, and exams

5. Regulatory Reporting: Ensure accurate and timely submission of regulatory reports, filings, and disclosures as required by law.

6. Advisory: Provide guidance to management and staff on regulatory requirements and implications for business activities, promoting a proactive compliance culture.

Anti-Money Laundering (AML) and Combatting the Financing of Terrorism (CFT):

1. Risk Assessment and Management: Lead AML/CFT risk assessments, develop risk mitigation strategies, and maintain a current understanding of the AML/CFT risk profile of the organization.

2. Transaction Monitoring: Oversee transaction monitoring processes, investigate unusual or suspicious activity, and escalate potential issues to the relevant authorities.

3. Sanctions Compliance: Manage sanctions screening processes to ensure compliance with international sanctions, embargoes, and trade restrictions

4. KYC/CDD: Ensure robust Know Your Customer (KYC) and Customer Due Diligence (CDD) processes are implemented and followed across the organization.

5. Reporting and Escalation: Ensure timely reporting of Suspicious Activity Reports (SARs) and Currency Transaction Reports (CTRs) as per regulatory requirements.

6. AML/CFT Policy Development: Develop and update AML/CFT policies, procedures, and controls to comply with evolving regulatory standards.

7. Training and Awareness: Design and conduct regular AML/CFT training programs for staff, emphasizing the identification and reporting of suspicious activities and regulatory requirements.

Required Qualifications, Knowledge:

1. Grade 12 with 25 points and above.

2.Bachelors degree in Law, Business, Finance, or a related field. A Masters degree or professional certifications (e.g., CAMS, ICA) is a plus.

3. 5+ years of experience in regulatory compliance and AML within the financial services or banking sector.

4. Strong knowledge of local and international regulations, including AML/CFT laws, data protection, and prudential regulations.

5. Familiarity with financial crimes compliance technologies and tools for transaction monitoring and sanctions screening.

Skills and Competencies:

1. Analytical Skills: Ability to assess regulatory and AML risks and provide actionable recommendations.

2. Communication: Strong verbal and written communication skills to effectively interact with regulators, internal teams, and senior management.

3. Attention to Detail: High degree of accuracy and attention to detail in managing compliance records and monitoring transactions.

4. Ethics and Integrity: Upholds the highest standards of ethical conduct and integrity, promoting a culture of compliance.

5. Problem-Solving: Ability to resolve compliance issues and manage complex regulatory and AML/CFT challenges effectively.