Date 12th July 2023
Position: Compliance officer
JOB FUNCTION:
The Compliance Officer in collaboration with the Board of Directors is responsible for the implementation of all necessary actions to ensure the achievement of the objectives of an effective compliance management programme including but not restricted to lending deposit, operational roles, regulations and Statutory requirements both local and foreign. The person acts as staff to the Board of Directors by monitoring and reporting on the results of the Compliance efforts of the Credit Union and providing guidance for the Board of Directors and Management Team on related compliance matters.
PERSON SPECIFICATIONS:
The incumbent must possess the following:
- Analytical
- Keen attention to details
- Ability to work independently
- Highly Confidential
- Ethical
- Highly organised
- Proactive
QUALIFICATIONS & EXPERIENCE:
- Or similar qualification in any of the related fields:
- Accounting, Finance or Auditing
- Certification in a field related to Compliance or Fraud:
- Forensic Accounting
- Fraud Detection
- Financial Investigation
- Business Law
- Statutory Reporting
- 3-5 years Auditing Experience OR Minimum of 2 years Compliance Experience
- Working knowledge of CBTT and FIU Regulations
- Knowledge of EMORTELLE 9 will be an asset
- Proficiency in Microsoft Office Suite
SKILLS & ABILITIES:
- Excellent verbal and written communication skills
- Competent in reporting processes and techniques
- Excellent interpersonal skills
KEY DUTIES/ RESPONSIBILITIES:
- Develops, oversees and executes a Compliance Program, for alleged violations of rules, regulations, policies, procedures and standards of conduct
- Act as an independent review and regulating body to ensure that compliance issues and concerns with the organisation are being properly identified, reported, evaluated, investigated and resolved, to prevent illegal, unethical and improper conduct
- Review and decide on all applications for membership to the Credit Union
- Identify and maintain a database, as well as conduct due diligence on Politically Exposed Persons
- Conduct continuous analysis and due diligence of member activities
- Maintain registers of enquiries/ keep records on:
- Suspicious Activities Reports (Internal and for FIU)
- Foreign Based Members
- PEP and their immediate families and associates
- Law enforcement inquiries
- Any other register required by FIU
- Liaise with and report to the BOD, FIU and any relevant authorizing bodies
- Identify potential areas of compliance vulnerabilities and risk; develop and implement corrective action plans for resolution of problematic issues.
- Coordinate all activities and documentation required for compliance audit reviews and respond to audit recommendations and corrective actions required
- Institute and maintain an effective Compliance communication program for the organisation
- Write compliance articles, policies and procedures for in-house use, and prepare training guides and fact sheets for employees and members to facilitate explanations
- Review and develop credit union forms, agreements and disclosure to ensure compliance with applicable laws rules and regulations
- Create and conduct internal AML/CFT/CPF training AML/CFT/CPF – Staff, Management and BOD
- Review and analyse required reports to ensure the identification of suspicious activities
- Prepare reports monthly, or as required to the Board of Directors, Compliance Committee and Management on the operations and progress of compliance efforts
- Collaborates with and assists all staff on compliance activities to ensure appropriate channels for investigation and resolution
- Advise staff about compliance initiatives
- Stay abreast of relevant changes in legislation and enforce such within the organisation
- Monitor the performance of the compliance program, identify areas of vulnerability or risk and take appropriate steps to improve its effectiveness.
