SBM Bank Kenya is a leading and trusted financial institution with an international footprint, headquartered in Mauritius and positioned to offer an unprecedented banking experience in Kenya to niche Retail, SME and corporate clients. Following approval by the Central Bank of Kenya, the bank started its operations in Kenya in May 2017 and currently h...

Job Purpose:

To ensure that the Bank adheres to and is compliant with all the relevant laws and regulations e.g. Banking Act, Prudential Guidelines, CBK Guidelines & Circulars, etc. that govern the Bank's business and other related activities.

Key Responsibilities

Leadership and Stakeholder Management - 35%

• To seek, develop and maintain relationships with the Regulators and other key stakeholders,
• To assist and guide Management in responding to enquiries or requests from Regulators and other stakeholders as appropriate,
• To organize and participate in the training and awareness programs for Staff on the relevant Regulatory and Statutory requirements and obligations,
• To promote a compliance awareness culture in the Bank,
• To deputise the Director, Compliance and undertake other activities as assigned from time to time.

Compliance Monitoring - 20%

• To regularly evaluate and review the effectiveness of internal processes, policies and procedures to ensure that they are adequate and support the business in mitigating the Bank’s compliance risk exposure in a changing environment.
• To review and assess the effectiveness of the various Management Committees, Departments and Branches in mitigating against compliance risk exposure.
• To review and offer advisory so that all new products and services are adequately assessed and are guided by documented processes, policies and procedures to mitigate any potential compliance risk exposures.
• To liaise and collaborate with Risk and Internal Audit departments to identify areas of non-compliance and ensure adequate follow up is done to remediate or close any open issues

Oversight Compliance with All the Relevant Regulatory & Statutory Requirements - 40%

• To research and keep abreast of any changes to laws and regulations and prepare regular updates to management and the Board,
• To actively participate and represent the Bank in industry forums and workshops to keep abreast of new developments, best practices and/or changes in the laws and regulations,
• To advise and ensure that any changes to the regulatory reporting requirements are noted and tracked for compliance,
• To maintain a register of all regulatory and statutory requirements that the Bank is obligated to adhere to and the respective internal owners,
• To prepare and implement a detailed work plan to regularly review and assess the status of compliance with all the relevant laws and regulations through on-site and off-site reviews of business units and departments,
• To review the Bank’s policies and procedures and ensure that they are aligned to regulatory requirements.
• To participate in the review and/or development of new or existing policies and procedures of the Bank as may be required,
• To liaise and collaborate with the Risk and Internal Audit departments to identify areas of non-compliance and ensure adequate follow-up to have the issues closed

Reporting - 25%

• To review reports/returns submitted to the Regulator & other statutory bodies to confirm that the Bank is compliant,
• To prepare regular reports providing updates on matters related to compliance with statutory and regulatory requirements,
• To assist in the preparation of papers for the Management, and Board providing updates on the status of compliance with the relevant laws, regulations,
• To facilitate the provision of ad-hoc reports and or information to the regulators as and when required.

Key Relationships

Direct Reports to this Position:

• Compliance Officers in the section

Key Internal Stakeholders:

• Board Risk Committee (BARC)
• Executive Management Committee (EXCO)
• Operational Risk Committee (ORCO)
• Branch Managers & Heads of Department

Knowledge; Skills and Experience required for this Role

• At least 7+years’ experience in a banking environment, working in a similar role in Compliance or Risk departments,
• Sound working knowledge of the Banking Act, Prudential Guidelines and other relevant and applicable laws, regulations,
• Minimum of a Bachelors’ Degree
• Professional certifications in Risk and Compliance will be an added advantage.

Competencies required for this Role

• Leadership-Ability to lead a team, and engage with Management
• Ability to prepare and facilitate training as a Subject Matters Expert (SME)
• Excellent verbal and written communication skills
• Collaboration/Team player
• Risk assessment skills
• Planning and Organising
• Learning and Researching
• Critical thinker with good analytical capabilities.
• Proficiency in use of MS Office tools especially excel.

Accountability

Delegated Authority

• To seek, develop and maintain relationships with the Regulators and other key stakeholders,
• To assist and guide Management in responding to enquiries or requests from Regulators and other stakeholders as appropriate,
• To organize and participate in the training and awareness programs for Staff on the relevant Regulatory and Statutory requirements and obligations,
• To promote a compliance awareness culture in the Bank,
• To deputise the Director, Compliance and undertake other activities as assigned from time to time.
• To regularly evaluate and review the effectiveness of internal processes, policies and procedures to ensure that they are adequate and support the business in mitigating the Bank’s compliance risk exposure in a changing environment.
• To review and assess the effectiveness of the various Management Committees, Departments and Branches in mitigating against compliance risk exposure.
• To review and offer advisory so that all new products and services are adequately assessed and are guided by documented processes, policies and procedures to mitigate any potential compliance risk exposures.
• To liaise and collaborate with Risk and Internal Audit departments to identify areas of non-compliance and ensure adequate follow up is done to remediate or close any open issues
• To research and keep abreast of any changes to laws and regulations and prepare regular updates to management and the Board,
• To actively participate and represent the Bank in industry forums and workshops to keep abreast of new developments, best practices and/or changes in the laws and regulations,
• To advise and ensure that any changes to the regulatory reporting requirements are noted and tracked for compliance,
• To maintain a register of all regulatory and statutory requirements that the Bank is obligated to adhere to and the respective internal owners,
• To prepare and implement a detailed work plan to regularly review and assess the status of compliance with all the relevant laws and regulations through on-site and off-site reviews of business units and departments,
• To review the Bank’s policies and procedures and ensure that they are aligned to regulatory requirements.
• To participate in the review and/or development of new or existing policies and procedures of the Bank as may be required,
• To liaise and collaborate with the Risk and Internal Audit departments to identify areas of non-compliance and ensure adequate follow-up to have the issues closed
• To review reports/returns submitted to the Regulator & other statutory bodies to confirm that the Bank is compliant,
• To prepare regular reports providing updates on matters related to compliance with statutory and regulatory requirements,
• To assist in the preparation of papers for the Management, and Board providing updates on the status of compliance with the relevant laws, regulations,
• To facilitate the provision of ad-hoc reports and or information to the regulators as and when required.

• Leadership-Ability to lead a team, and engage with Management
• Ability to prepare and facilitate training as a Subject Matters Expert (SME)
• Excellent verbal and written communication skills
• Collaboration/Team player
• Risk assessment skills
• Planning and Organising
• Learning and Researching
• Critical thinker with good analytical capabilities.
• Proficiency in use of MS Office tools especially excel.

• At least 7+years’ experience in a banking environment, working in a similar role in Compliance or Risk departments,
• Sound working knowledge of the Banking Act, Prudential Guidelines and other relevant and applicable laws, regulations,
• Minimum of a Bachelors’ Degree
• Professional certifications in Risk and Compliance will be an added advantage.