PURPOSE:
The Job holder is responsible for the day-to-day management of the Risk and Compliance function within I&M Capital Limited. The Job holder will support the CEO – I&M Capital to maintain a robust Enterprise Risk and Compliance management framework within the company. In addition, the Job holder will also act as the Money Laundering and Reporting Officer (MLRO) for I&M Capital Limited.
KEY RESPONSIBILITIES:
Governance
- Developing and regularly reviewing policies and procedures.
- Maintaining the policy & procedure catalog while tracking policy and procedure reviews as per the approved review periods.
- Ensuring that new or revised policies & procedures are cascaded to all staff as appropriate.
- Promoting a risk aware and compliance culture within the Company
- Preparing and presenting regular reports to the management and board risk committee meetings
- Act as liaison with key control functions such as Group Risk & Compliance and Group Internal Audit
Risk Management
- Implementing the Enterprise risk management framework within the Company in line with regulatory requirements, Group minimum standards and best practices
- Implementing the Risk & Control Self-Assessment (RCSA) framework and ensure maintenance of an updated risk register that reflects the Company’s current risk environment.
- Conducting risk assessments for new products, partnerships, systems and processes and ensure controls and risk mitigation plans are implemented as appropriate.
- Implementing the Key Risk Indicators (KRIs) framework and ensure maintenance of the company’s KRI library.
- Conducting control tests as per control testing guidelines.
- Regularly reviewing procedures/processes to identify areas of potential improvement or weakness in risk management controls.
- Coordination of incident reporting, follow up on root cause analysis and implementation of remediation actions.
- Maintaining loss database and co-ordinating loss data collection and reporting.
- Implementing the business continuity framework and support in the operationalization of response required during a business continuity activation.
- Tracking risk mitigation and remediation activities for both current and emerging risks
- Tracking implementation of actions arising from internal and external audits and regulatory reviews
Compliance Management
- Ensuring that the Company complies with the requirements of CMA Act & regulations, Anti-money laundering legislation and Group Minimum standards.
- Implementing Compliance policies and frameworks
- Monitoring on adherence to compliance obligations and ensure compliance risks are identified, managed and reported.
- Acting as the Money Laundering and Reporting Officer for the company
- Act as the primary contact and liaison with the CMA and Financial reporting center (FRC) and respond to all queries from the authorities.
- Regulatory reporting of returns to the CMA & FRC.
- Ensuring compliance to Know your customer (KYC) standards, conducting of screening and risk rating of clients prior to on-boarding in line with CMA & AML regulations and related company policies.
- Conducting annual AML risk assessments in line with CMA and FRC requirements.
- Developing and implementing a monitoring system to ensure that all suspicious transactions are investigated, documented, reported and passed on to the FRC if necessary.
- Conducting enhanced due diligence on high-risk clients and third parties
- Conducting due diligence on accounts suspected to be exposing the Company to AML/CFT risks and recommending necessary actions.
- Performing ongoing monitoring of high-risk clients for the purposes of identifying any emerging AML suspicious activities and behavior.
- Reviewing of accounts opened to ensure adequacy of account opening documents.
- Ensuring adequate maintenance of records as per AML/CFT requirements
- Act as an AML subject matter expert within the Company and provide appropriate guidance and support to employees on AML related matters.
- Implementation of the data protection framework within the Company, participating in data impact assessments and co-ordinating the implementation of mitigation actions
BASIC QUALIFICATIONS:
- Bachelor’s degree in economics or finance or business or securities related field.
- Certification in CPA (K), CIA, CSIA, FRM, GARP, PRMIA or CFA; Chartered Institute for Securities and Investment (CISI)
- Minimum Five (5) years’ experience in the Capital Markets sector, two (2) of which should be in Risk Management
- Demonstrated achievements directly attributable to the candidate.
SKILLS AND ATTRIBUTES:
- Exceptional analytical and quantitative background.
- Excellent written and verbal communication skills.
- High level of accuracy and attention to detail.
- Excellent time management skills and ability to work under strict deadlines.
- Initiative – must be a self-starter, able to work independently with drive and motivation.
- Outstanding interpersonal skills and ability to work across functions and levels of seniority.
- Good understanding of all aspects of Enterprise Risk Management
- Ability to anticipate business risks and develop adequate mitigating risk management controls.
- Good understanding of Capital Markets products and services.
- Good working knowledge of Capital markets regulations and Anti-money laundering Act and regulations.
If you believe you meet the above requirements log onto our Career at I&M Bank – I&M Bank Kenya (imbankgroup.com) and click on careers and apply for the position. Your application should reach us as soon as possible but not later than 5th April 2024.