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Job Title: Financial Crime Compliance Specialist
Reports to: Senior Manager, Risk Monitoring & Control
Division: Digital Business
Department: Risk
JOB PURPOSE STATEMENT
The role of the FCC Specialist is to analyze risk data that is collected from various sources, including risk registers, incident reports, and audit findings and be capable of using analytical tools to identify trends and patterns in the data to assess the overall Financial Crime Compliance risk landscape.
The purpose of this job is to support the LOOP DFS Risk Management and Compliance function through the implementation of the Financial Crime Compliance Framework within the standards defined by the Group including the identification, measurement, monitoring and reporting of risk and enforcing compliance with policies, processes, procedures and controls
The position also requires working with various cross functional LDFS units and Group Governance Units to proactively identify gaps in the current ecosystems, business units and processes, and advice Financial Crime Compliance Risk-mitigating controls based on best practice. The Specialist will be responsible for the development and management of mitigating controls for various digital financial services initiatives and monitoring the AML Compliance.
The role entails Conducting comprehensive risk assessments across multiple business areas, using a variety of risk assessment techniques and tools and sharing timely reports for consumption of the various cross functional stakeholders.
KEY ACCOUNTABILITIES (DUTIES AND RESPONSIBILITIES)
Internal Processes (70%)
- Develop and maintain models and tools used to predict Compliance potential losses from various types of risks.
- Develop and implement new risk management strategies and tools that help reduce Compliance risks exposure and maximize profits.
- Collaborate with LDFS Commercial Team, Operations teams, Engineering, Business performance, Product and Delivery Management on ways to set appropriate Compliance controls, internal alerts and to mitigate Compliance Risk.
- Engage with risk owners and the wider business to promote risk management practices and culture across their respective areas.
- Develop key risk and control indicators to identify and control Compliance Risk.
- Monitor the health of the organization in order to proactively detect and address vulnerabilities.
- Assist with the maintenance of the Compliance risk register for all Business and Subsidiary Units.
- Support in the management of the Compliance Risk assessment process for circulation to relevant Committee.
- Conduct a comprehensive assessment of existing control processes and procedures and identify potential control gaps and weaknesses.
- Follow up on Closing of AML/CFT audit findings, Internal Audit and Independent reviews and liaising with other functions to ensure that AML related audit findings are satisfactorily closed.
- Advice senior management on Financial Crime Compliance trends and exposures LOOP DFS is experiencing and provide recommendations to minimize the risk.
- Support the establishment of the complete Financial Crime Compliance scope for LOOP DFS based on applicable laws, regulations, policies and related policy standards and policy guidelines, and aim at achieving 100% compliance.
- Conducting regular evaluations of the effectiveness of risk management policies and procedures to ensure they are meeting the organization’s objectives.
- Support the Risk Manager in the reporting of AML/CFT to the relevant committees.
- Understand and implement regulatory requirements: Develop policies and procedures to ensure Compliance with various regulations.
- Lead on FATCA & CRS compliance by ensuring that various functions are informed of their responsibilities, due diligence is conducted on US & CRS indicia customers and necessary reports are filed with the Internal Revenue Service (IRS) and the Local Taxman.
- Coordination of the Incident Management and Crisis Management Team (IMT).
- Coordinate activities of the Risk Champions across LDFS Units
Customer (10%)
- Turnaround time standards or benchmarks for decisions on Project development targets and applications that support a customer obsessed culture i.e. Service Level Agreement (SLA) / Turn-Around Time (TAT) and Customer Satisfaction Index (CSI) benchmarks.
Learning and Development (20%)
- Risk Culture – Continuously researching and improving the operational risk process, governance and capabilities and drive awareness amongst the LDFS staff through day to day risk management support and education, in collaboration with Risk Champions
- Drive competency focus through continuous learning and job enrichment to ensure high performance.
JOB SPECIFICATIONS
Academic:
- University degree preferably in Actuarial Science, Statistics, Economics, Finance or Business Administration or related fields.
- Proficiency and Practical experience in data analytics and use of relevant MIS, BI & MS Office applications and statistical computer languages e.g. SQL, R, Python.
- Strong IT skills and experience with office automation tools
Desired work experience:
- At least 5 years banking experience with at least 2 years covering Financial Crime Compliance risk management.
- Experience with risk management and reporting in a highly automated environment with Big data analytics will be an added advantage.
Technical Competencies
- A risk, compliance or audit related professional Certification such as CAMS, ACAMS, CFE, AML, KYC, OFAC or ACFE is highly desirable.
- A good understanding of all core processes and knowledge of regulatory and statutory requirements.
- Strong financial modelling, analytical and problem-solving skills with an emphasis on data science and risk management.
- Experience working with and ideation and creation of data architectures.
- Knowledge of a variety of machine learning techniques (clustering, decision tree learning, artificial neural networks, etc.) and their real-world advantages/drawbacks.
- Knowledge of advanced statistical techniques and concepts (regression, properties of distributions, statistical tests, Poisson distribution and proper usage, etc.) and experience with applications.
- Excellent written and verbal communication skills for coordinating cross functional teams.
- Proficiency in ISO 9001 2015 is highly desired in regards to Quality Management System.
- Risk Assessment and Identification – knowledge of the financial sector and risk management guidelines as well as current banking and fintech operations practice.
- Risk Management Design – Deep familiarity with digital banking and payments products and the relevant business processes
- Excellent planning and organizational skills with ability to breakdown complex items to actionable elements.
- Relate easily and naturally with executives, business managers, technical teams and customers. Has excellent listening skills and understands the desires and challenges of all our leaders and customers.
- Able to change plans, methods, opinions or goals in light of new information, with the readiness to act on opportunities. Highly effective in adapting to differing environments.
- Capable of developing a sound understanding of the motives, needs and concerns of others and develop a deep understanding of their complex stakeholder network. Can anticipate the motives and expectations of others effectively.
- Self-motivated and self-managing.
NCBA BANK CORE VALUE BEHAVIOURS (PERFORMANCE DRIVERS)
DRIVEN:
Being bold when making decision that impact customers; these captures both the customer feedback and bank policies and procedure. It’s about working as a team and engaging the relationship team for output in decision making. It includes being passionate for one’s own growth by ensuring they take eLearning courses and attending bank webinars.
OPEN:
Customer feedback should always be accurate and inclusive of both stakeholders’ thoughts. Being honest in our day to day interactions with customers whether through written or verbal communication. It entails being transparent when responding to customer queries and complaints.
RESPONSIVE:
Being responsive to our customers means responding quickly, efficiently and accurately.
Responsiveness is not only about acting quickly, it’s about responding appropriately, showing concern for the outcome, following up and keeping customers informed. It’s about being proactive, using your initiative and always looking for ways to improve and innovate. It’s about adding value + speed.
TRUSTED:
Consistency and telling the truth when giving feedback to both internal and external customer. It includes ability to protect customer data hence upholding integrity. It’s about being accountable for our action, explaining our thought process and building trust from both internal and external stakeholders.
All qualified applicants will receive consideration for employment without regard to race, color, religion, sex, sexual orientation, gender identity, national origin, or disability.
