Job Description
Overall Responsibility
The job holder will be responsible for establishing and implementing an appropriate Operational and Compliance Risk Management framework in line with the Society’s Strategic Plan, Risk Management Policy, Sacco laws and regulations and best financial service industry practices.
Key Responsibilities
• Develop and implement a risk management strategy and monitor implementation of the Sacco’s strategic plan to prevent, eliminate and mitigate operational risks.
• Participate in the development and implementation of a risk monitoring and reporting framework.
• Identify emerging risks that present new regulatory, fraud or money laundering risks. This includes risks associated with new products and services, customer types, geographies and channels.
• Participate in the development and review of policies and procedures.
• Perform compliance audits both internal and external and ensure adherence to all internal operation and evaluate all procedures to maintain accuracy with all internal standards.
• Maintain a risk register based on the identified applicable laws and regulations, fraud schemes and Proceeds of Crime Act and Anti Money Laundering considerations.
• Conduct risk assessment for proposed and existing units.
• Creating business continuity plans to limit risks.
• Building risk awareness amongst staff by providing support and training within the Sacco.
• Provide guidance and advice to management on emerging operational, legal and regulatory compliance matters.
Qualifications.
• A Bachelor’s Degree in any Business related courses/Risk Management/Computer Science and ICT or related field from a recognized university.
• Professional qualification such as CPA, ACCA, CISA, CRISC, CISM or other risk related field. Certification in ICT security, Audit and Risk Management and or other relevant training shall be an added advantage.
• Comprehensive knowledge of ERM concepts, operations and ICT risk management concepts.
• A minimum of three (3) years working experience in a financial institution especially in the Banking Sector, Audit, Risk Management and/or Compliance Practices.