Head, Regulatory Compliance - Lagos, Nigeria - Providus Bank

Description

Job Summary

• To ensure adherence to regulatory policies and directives by Planning, implementing, and monitoring risk-related programs. Implement and manage an effective Due Diligence program by creating and coordinating procedures for onboarding high risk customers.
• Developing an effective compliance communication strategy by developing, coordinating, and scheduling required compliance training for employees.

Responsibilities

• Interfaces with key regulatory agencies and Law Enforcement agencies i.e. NDIC, CBN, FIRS, EFCC, NPF, NCS, DSS, NDLEA etc. Liaise with regulators as advised by CCO/co-ordinate requirements for routine regulatory examination.
• Coordinates responses to regulatory/law enforcement letters of enquiry i.e. EFCC, CBN, NDLEA. Respond to Law enforcement enquiries with a turnaround time of 48hrs.
• Prepares and implement the compliance AML/CFT training programme. To identify gaps and enable the development of tailored training programme which will cultivate the required skill set to drive the expected change.
• Administers the Compliance Help Desk and provides daily reports on emerging compliance issues, new regulations and other compliance events.
• Compiles and consolidates Frequently asked Questions on all Compliance areas of Concern and emerging risk.
• To send out weekly compliance Nuggets to stakeholders based on observed compliance risk.
• Implements and monitor the adherence to compliance. Promoting compliance awareness and culture. Offer Compliance Advisory to SBU and Staff on Compliance Matters
• Designs compliance fliers and memos that are targeted at educating staff on various areas of compliance.
• Carries out routine Compliance check on the Bank compliance Status on regulatory directives and provide feedback to CCO.
• Conducts Due Diligence on specific subject of interest seeking to establish relationship with the bank, in line with CDD procedures for correspondent banks, financial partners and high-risk customers.
• Carries out Due Diligence review on FCY transfers incoming/outgoing. Maintain and periodically review the Good guy list on FCY transfers for expiration of approvals and qualification of new customers for inclusion.
• Carries out Due Diligence on Fintech Merchants and assess Regulatory and Money laundering risk. Continuous monitoring of Fintech related activities.
• Coordinates Correspondent bank AML status KYC/CDD verification /calls/visits and make relevant reports.
• Monitors and maintain dashboard on all High-risk accounts bank-wide, and tracks and update KYC status of high-risk accounts bank-wide.
• Prepares monthly reports on all activities of the Regulatory Compliance Advisory & Customer Due Diligence desk for the month under review.
• Consolidates and prepares half-year and full-year reports on all activities of the Regulatory Compliance Advisory & Customer Due desk within the period under review.

Requirements

• Minimum of bachelor's degree in any course of study
• At least 5 years banking experience in compliance, internal control & operations
• Professional Compliance Certification CAMS, CRCMP AND DCP preferred.
• Understanding of risk & regulatory requirements
• Knowledge and use of technology-based tools for controls and data security compliance.