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Job SummaryEnd to end Compliance Risks Management of Absa Bancassurance Intermediary Limited, and Absa Asset Management Limited, both of which are subsidiaries of Absa Bank Kenya. This includes.
Providing advisory compliance support to the two subsidiaries, reporting on the level of compliance with internal policies and procedures, applicable laws, regulations, and rules impacting the businesses and implement and manage specific regulatory compliance projects within the businesses.
The monitoring of the compliance processes and methodology in all the businesses to ensure regulatory and AML compliance throughout the business unit, as well as the implementation, alignment and embedding of the compliance training requirements in the business.
Job Description
Key Accountabilities.
Advisory (45%)
- Provide Compliance support to the two subsidiaries
- Proactively advise the businesses on new regulatory developments
- Steer the businesses towards compliance with new regulatory developments
- Provide Compliance guidance on day to day dealing and matters
- Deliver other Compliance related projects as and when directed
- Enhance and promote a compliance culture through awareness activities
- Advise business on compliance issues and providing of compliance opinions
- Implement, embed and monitor compliance policies, processes and methodology in the business operations.
- Create and build a compliance presence in the business
- Participate in the new product initiative process by reviewing new product proposals for compliance against local regulatory requirements
- Ensure that business addresses concerns raised by the Regulator /delivers on commitments made to the Regulator
- Implement and comply with AIA Audit recommendations
- Follow up on any compliance related findings or action items
- Advise business on any changes in set standards/ local requirements (throughout the year)
- Identify business impact for new regulatory requirements and escalate upwards as necessary
- Act as point of contact between business and Compliance department.
Liaise with regulators (20%)
- Effectively manage regulatory relationships. This includes the CMA, RBA, IRA
- Timeously respond to regulatory requests
- Ensure timely closure of regulatory commitments
Stakeholder Management (15%)
- Effectively manage in country compliance with the businesses.
- Keep the in-country Compliance Director informed on compliance matters which may pose financial or reputational risks for the business.
- Attend relevant in country meetings, and assist forums in identifying and comprehending compliance risks
- Communicate regulatory issues/concerns with internal stakeholders and line management
- Develop and implement program for regular meetings with internal stakeholders
- Assist business to draft correspondence and presentations to the Regulator.
Reporting (20%)
- Prepare reports to various governance forums
- Submit reports to the in-country Compliance Director
- Complete & submit accurate & timeous compliance returns and regulatory and reports (monthly, quarterly, yearly)
Qualifications & Experience
- Bachelor’s degree
- 4 years of experience in Compliance Management
***Application Deadline – 20th March 2024***
Absa Bank Kenya is an equal opportunity, affirmative action employer. Preference will be given to suitable candidates from designated groups whose appointments will contribute towards achievement of equitable demographic representation of our workforce profile and add to the diversity of the Bank.
