Manager Compliance/Money Laundering Control Officer

Manager Compliance/Money Laundering Control Officer

Reports to: Managing Director
Location: Head Office, Kampala, Uganda

Key Result Areas:

• Monitoring compliance with the internal policies, procedures, and guidelines relating to compliance, including testing and checking the functionality, efficiency, and adherence of established policies.
• Providing for training on compliance issues in order to advance awareness of integrity issues and business ethics by arranging training workshops as needed and by acting as a contact point for queries from staff members.
• Reporting on governance, including the corporate governance statement and the sustainability reporting of the Bank, as well as contributing to the disclosure policies of the Bank.
• Providing comments on policies, guidelines, rules, and procedures for compliance issues.
• Ensuring that the compliance department delivers compliance standards deliverables as required.
• Managing the regulatory change process and advising the business of any significant changes.
• Ensuring compliance alerts are circulated to the business on schedule.
• Tracking and providing investigative support on whistleblowing concerns to completion.
• Ensuring all bank policies are up to date by seeking quarterly reports from the Risk Manager, who is the custodian of all policies and manuals.
• Planning and executing compliance programs in all Yako Bank branches and departments.
• Apprising the board as well as senior management on regulations, rules, and standards, and any further developments in the industry by carrying out research.
• Providing clarification on any compliance issues that may arise in the day-to-day activities of the bank.
• Conducting assessments of compliance risk at least quarterly and developing a risk-oriented activity plan for compliance assessment. The activity plan must be submitted to the Audit Committee of the Board for approval and made available to internal audit.
• Reporting promptly to the Board/Audit Committee of the Board/Managing Director and Executive Director about any major changes or observations related to compliance risk.
• Reporting quarterly on compliance failures or breaches to the Board/Audit Committee of the Board and circulating findings to the concerned functional heads monthly.
• Monitoring and periodically testing compliance by conducting sufficient and representative compliance testing. The results of the compliance testing must be placed before the Board/Risk Committee and Managing Risk Committee quarterly and monthly.
• Examining the sustenance of compliance as an integral part of the compliance testing and annual compliance assessment exercise.
• Ensuring the compliance of supervisory observations made by the Bank of Uganda, external auditors, and/or any other directions are rectified in a time-bound and sustainable manner.
• Taking the lead in staff training and mentoring departmental team members on statutory, internal policies, and industry best practice requirements.
• Developing the bank’s compliance framework and ensuring it is consistent with governing laws, the Code of Ethics, and professional conduct. Liaising with relevant external stakeholders and participating in industry compliance forums to ensure alignment of Yako’s compliance methodology.
• Conducting follow-ups on the resolution of any identified compliance findings in Bank of Uganda examination reports, internal and external audit reports, and overseeing the implementation of corrective measures to mitigate identified deficiencies.
• Ensuring submission of returns to the Bank of Uganda (B.O.U), Financial Intelligence Authority (FIA), Uganda Revenue Authority (URA), National Social Security Fund (NSSF), and other external stakeholders is timely and accurate.
• Monitoring, reviewing, and supervising the day-to-day operational functions at the head office and branches, in particular bank transactions.
• Centralizing all information on compliance-related issues within Yako for access by all staff.
• Ensuring that new compliance circulars/directives/guidance notes are distributed to the relevant Yako personnel and appropriate action is taken.
• Advising Senior Management on relevant laws, rules, regulations, standards, recommendations, and practices in the marketplace.
• Aligning AML/CFT/CPF efforts of the Bank with regulatory and international standards/requirements and best practices to prevent the Bank’s risk of sanctions and associated financial/reputational loss as a result of non-compliance.
• Developing and implementing a compliance framework that constantly updates the Bank on its compliance levels with regulatory laws/standards.
• Providing compliance advisory and decision support services to business units and strategic resource functions to build a strong KYC environment and ensure zero AML/CFT/CPF infractions.
• Developing and implementing appropriate AML/CFT/CPF sanctions and financial crime prevention policies, procedures, systems, and controls, and ensuring compliance with Anti-Money Laundering and Combating the Financing of Terrorism (AML/CFT/CPF) standards across the Bank.
• Developing and implementing monitoring tools/standards/measures to ensure compliance with AML/CFT/CPF laws and best practices.
• Designing and implementing compliance sensitization/trainings in regard to AML and CFT programs/plans for staff and service provider employees.
• Developing and implementing channels for internal and external reporting of suspicious activity/transactions, such as internal whistleblowing, in line with the compliance reporting framework.
• Preparing, submitting, and presenting periodic (monthly/quarterly/annual) compliance reports/information (exceptions, suspicious transactions, large cash transactions, etc.) to management, the Board of Directors, and regulatory bodies (internal and external) to enable informed decisions.
• Coordinating AML/KYC routine examinations as per the regulator’s examination timetable/schedule, as well as managing the Bank’s relationships with regulators in relation to compliance issues.
• Enhancing staff productivity by providing day-to-day technical guidance and support to the teams, as well as monitoring the team’s daily activities with continuous feedback for improvement in line with Yako policies.
• Developing a timetable for the administration of compliance assessments and questionnaires in line with the compliance work plan.

Required Competencies:

• The incumbent should hold a Bachelor’s degree from a recognized university and professional training relevant to the role.
• A postgraduate qualification is an added advantage.
• Overall experience of a minimum of 10 years in banking or a financial institution, of which a minimum of 5 years will be in a related function (Audit/Finance/Compliance/Legal/Risk Management) in a senior management role.
• Excellent knowledge of financial institutions.
• Understanding of KYC requirements.
• The ideal candidate must have no vigilance case or adverse observation from the regulator pending against him/her.
• Excellent interpersonal and communication skills.
• Analytical mind, good attention to detail, problem-solving skills, good time management skills, and the ability to multi-task under pressure.
• Proficiency in computer applications.
• Teamwork.

Applications:

Suitably qualified candidates should address their application to:
Human Resource & Administration Manager, Yako Bank
Forest Mall Lugogo, Kampala, Uganda

Submit applications via email to hr@yakobank.com, including:

• Photocopies of academic testimonials.
• A CV with telephone contacts and email addresses of three referees, one of whom should be the most recent employer.

Closing Date for Submission: 5th April 2025
Only shortlisted candidates will be contacted directly on Tel. Numbers 0312 222600 or 0414 341275 ONLY.

CLICK HERE TO APPLY