Job Description
POSITION : RISK AND COMPLIANCE OFFICER
TERMS : 3-YEAR RENEWABLE CONTRACT
REPORTING TO : BOARD OF DIRECTORS
Some of the Key Responsibilities of this position includes but shall not be limited to:
Champion regulatory compliance and work in liaison with all departments to ensure the Sacco is operating
in compliance with all laws.
Keep abreast with all new Laws and Regulations and advise management on new and updates to existing
policies to enable operationalization within Sacco.
Reviewing company policies regarding risk management to ensure compliance with regulations.
Conducting risk assessments to ensure that the company’s financial systems and processes are functioning
properly.
Transactions and customer screening for Anti-Money Laundering (AML) through daily reports and system
generated alerts and subsequently close on all alerts generated.
Carrying out reviews on new onboarded members.
Liaison with Financial Reporting Centre on daily cash transaction returns, suspicious transactions, and
Annual Compliance Assessments.
Implement and monitor implementation of the strategic plan to prevent and mitigate risks.
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.
Coordinate the collection of risk information from source systems, departments, and reporting, analyze
the data and apply to various key risk areas to update the risk profile.
Developing and implementing policies and procedures for managing financial risks.
Communicating and enforcing the AML/CFT compliance culture as per KYC/AML/CFT policies.
Preparing quarterly report on Sacco risk with an updated risk register. The register should be updated in
collaboration with risk champions as approved by the HODs meeting. Such quarterly reports must be
presented to the audit committee quarterly by the Internal Audit and Risk Manager.
Education and Professional Qualifications
Degree in Law from a recognized university
Certified Public Accountant CPA (K)
Knowledge of computerized audit techniques and experience in systems audit.
Member of a recognised Professional Body.
5 years’ Relevant experience, three (3) years which must be in a senior audit position in a financial
institution or co-operatives sector.
Knowledge of credit and lending principles.
Adequate knowledge of Regulatory framework in the financial/Sacco sector will be an added advantage.
Holders of both law and Business degrees are encouraged to apply.