Letshego Bank Nambia
Purpose of the Job:
Develop and oversee control systems to prevent and/or deal with violations of applicable legislation and internal policies. Evaluate the efficiency of controls and improve them continuously. Revise procedures, reports, etc. periodically to identify hidden risks or non-conformity issues.
Position: Compliance Officer
Reports To: Compliance Manager
1. Develop and implement compliance model required for a bank to operate within acceptable standards
2. Knowledge and understanding of the industry’s regulations and best practices. 3. Contribute to suggestions to enhance systems, methodologies, and process simplification. 4. Ensure management is made aware of all pressing issues in a timely manner. 5. Revise rules, reports, and procedures at regular intervals to recognize the risks. 6. Monitor client financial activities to ensure they are legal and in compliance with internal and external bank policies.. 7. Maintain a current understanding of money laundering and terrorist financing issues, including policies, procedures, regulations, industry best practices, criminal typologies, and developing trends. 8. Assist in identifying systemic procedural weaknesses and additional training requirements for the Bank or the Micro Financial Services. 9. Provide direction and guidance to employees on appropriate remediation action for high-risk accounts. 10. Timely execution of instructions received from the Compliance Manager and/or the Financial Intelligence Centre, Bank of Namibia, NAMFISA, and/or the Namibian Police. 11. 12. Organize compliance programs to educate bank staff on recent and already existing compliance requirements 13. Facilitate and monitor compliance with regulatory requirements by the Letshego Namibia Group. 14. Actively assist in the rollout of the compliance monitoring risk tools and perform compliance monitoring functions. 15. Performing the due diligence on new Clients, requesting the KYC information, documentation, review and verification of received documentation, and making an analytical risk assessment for new Clients.
16. Periodically evaluate existing clients according to established compliance and AML policies and procedures. Conduct functional internal audits prior to external or third-party independent internal audit reviews to ensure bank policies and operations are up to standard17. Develop and facilitate Group-wide compliance training programs for existing and new staff members. 18. Collaborate with other departments such as the risk management or internal audit unit to forward compliance issues for investigation 19. Assist with AML related and economic sanction-related alerts where required.
Knowledge and Experience Required of Job Holder:
- Bachelor’s Degree in Accounting, Finance, Law, Economics or Business Administration or equivalent qualification with at least 2 years of experience in banking.
- Knowledge and understanding of the industry’s regulations and best practices.
- Good knowledge of products and services typically offered in banking.
- Evidence of drive, curiosity, good judgment, and good attention to detail.
- Rigorous, well-organized with a structured and logical approach Critical-thinker and problem-solver.
- Computer literate (Windows, Excel, Word, PowerPoint)
- Effective Communication skills – verbally and written
- Good understanding of AML and/or Compliance-related Frameworks.
- Experience with AML monitoring and screening is an advantage
- Organizational and Report writing skills
Only shortlisted candidates will be contacted
To apply for this job please visit letshego-internal.jb.skillsmapafrica.com.