Job Purpose

Assist in the drafting of policies and guidelines for market conduct, Anti-Money Laundering (AML), Combating Financing of Terrorism (CFT) and Combating Proliferation Financing (CPF) for institutions licensed by CBK and conducting AML/CFT/CFP onsite examinations and offsite surveillance.

Key Duties and Responsibilities

Strategic Responsibilities

• Implement and enforce AML/CFT/CPF laws in the banking sector.
• Contribute as appropriate to the performance of other functions and to the overall achievement of the Bank’s strategic objectives.

Technical and Operational Responsibilities

• Review of AML/CFT/CPF existing laws, regulations and prudential guidelines; and contribute to the development of new laws, regulations and guidelines for institutions licensed by CBK.
• Research on international best practices for effective AML/CFT/CPF supervision for the banking sector.
• Respond to queries on AML/CFT matters from both internal/external stakeholders.
• Assess AML/CFT/CPF compliance by all institutions with banking sector laws, regulations and guidelines.
• Undertake AML/CFT/CPF onsite examination/inspection and offsite surveillance of institutions licensed by CBK.
• Analyse periodic AML/CFT/CPF returns submitted to CBK by financial institutions.
• Prepare AML/CFT/CPF inspection manuals and operational plans.
• Conduct periodic reviews of ML/TF/PF risk assessments of financial institutions. and undertake sectoral ML/TF/PF risk assessments and periodic ML/TF/PF risk assessments of institutions.
• Implement the risk-based AML/CFT/CPF supervision framework unique to each institution; monitor its effectiveness by developing and updating institution profiles; plan and schedule supervisory activities.
• Process, analyse and make appropriate AML/CFT/CPF recommendations on applications for new products and vetting of senior managers and directors of banks.
• Initiate and draft Memorandum of Understanding for supervisory cooperation and information exchange with other national, regional and international regulators.
• Prepare AML/CFT/CPF status reports for ESAAMLG and FATF and participate in their activities.
• Liaise with the Financial Reporting Centre on AML/CFT/CPF matters
• Implement AML/CFT/CPF and Market Conduct related recommendations from collaborations with domestic and international financial regulators regional and international financial inclusion initiatives/organisations and development partners.
• Research on emerging challenges and market dynamism.
• Adherence to Bank policies, procedures, guidelines and relevant legislation.
• Undertake knowledge development to achieve high levels of performance.
• Any other assigned duties and responsibilities.

Qualifications

• Bachelor’s Degree in Management, Economics, Insurance, Law, Finance or related discipline from a reputable university.
• Professional qualification(s) in Accounting, Law, Finance, Banking or related discipline is an added advantage.

Work Experience

• At least two (2) years post-qualification experience in Prudential/Bank Supervision, Financial Analysis, Auditing, Accounting, and Commercial Banking Operations.

• Implement and enforce AML/CFT/CPF laws in the banking sector.
• Contribute as appropriate to the performance of other functions and to the overall achievement of the Bank’s strategic objectives.
• Review of AML/CFT/CPF existing laws, regulations and prudential guidelines; and contribute to the development of new laws, regulations and guidelines for institutions licensed by CBK.
• Research on international best practices for effective AML/CFT/CPF supervision for the banking sector.
• Respond to queries on AML/CFT matters from both internal/external stakeholders.
• Assess AML/CFT/CPF compliance by all institutions with banking sector laws, regulations and guidelines.
• Undertake AML/CFT/CPF onsite examination/inspection and offsite surveillance of institutions licensed by CBK.
• Analyse periodic AML/CFT/CPF returns submitted to CBK by financial institutions.
• Prepare AML/CFT/CPF inspection manuals and operational plans.
• Conduct periodic reviews of ML/TF/PF risk assessments of financial institutions. and undertake sectoral ML/TF/PF risk assessments and periodic ML/TF/PF risk assessments of institutions.
• Implement the risk-based AML/CFT/CPF supervision framework unique to each institution; monitor its effectiveness by developing and updating institution profiles; plan and schedule supervisory activities.
• Process, analyse and make appropriate AML/CFT/CPF recommendations on applications for new products and vetting of senior managers and directors of banks.
• Initiate and draft Memorandum of Understanding for supervisory cooperation and information exchange with other national, regional and international regulators.
• Prepare AML/CFT/CPF status reports for ESAAMLG and FATF and participate in their activities.
• Liaise with the Financial Reporting Centre on AML/CFT/CPF matters
• Implement AML/CFT/CPF and Market Conduct related recommendations from collaborations with domestic and international financial regulators regional and international financial inclusion initiatives/organisations and development partners.
• Research on emerging challenges and market dynamism.
• Adherence to Bank policies, procedures, guidelines and relevant legislation.
• Undertake knowledge development to achieve high levels of performance.
• Any other assigned duties and responsibilities.

• Bachelor’s Degree in Management, Economics, Insurance, Law, Finance or related discipline from a reputable university.
• Professional qualification(s) in Accounting, Law, Finance, Banking or related discipline is an added advantage.