The Compliance Officer (CO) is responsible for managing all facets of regulatory compliance affecting the company’s operations, marketing, deposits, and lending through the approved compliance program. This position maintains and assesses compliance policies and business procedures for integration of regulatory requirements and industry best practices. The CO will be responsible for designing, evaluating, supporting, and influencing a culture of compliance throughout the organization, as well as assisting in the management and execution of an efficient compliance monitoring program.
Reporting Line: Reports directly to the Head of Risk and Compliance
- Maintains current and extensive knowledge of the laws and regulatory guidelines by which the company’s is required to comply.
- Works with the team to monitor legislative and regulatory environment for proposed changes to laws and regulations and their potential impact on the company.
- Handle the management and execution of second line monitoring and assessment program for Anti-Money Laundering/Counter-Terrorism Financing (AML/CTF)
- Improve and maintain AML/CTF policies and procedure
- Aid in the improvement of tools to monitor, analyze, and report suspicious activity
- Handle file reviews of suspicious activity to ensure compliance with the policies and procedures put in place
- Aid in general compliance awareness and refresher training
- Maintains an in depth understanding of lending related compliance and regulatory requirements as they apply to the organization loan operating systems.
- Oversee the dissemination of compliance-related information to employees to ensure familiarity with compliance requirements.
- Partners with the Head of Risk and Compliance to oversee certain compliance procedures and offer risk management advice.
- Carries out internal reviews of the company’s compliance program.
- Submit periodic reports on the extent of implementation of the Company’s approved strategy
- Submit monthly report on extent and timeliness of agreed Branch and Departmental deliverables
- Works with the Operations Department to ensure that all policies and procedures are being followed
- Assists with research and response to customer complaints or concerns.
- Initiates investigations, when possible, non – compliance takes place within the institution
- Assist in providing regular compliance awareness training for newly recruited staff and other staff.
- Work with auditors and examiners during regulatory compliance audits and examinations.
- Report on the timeliness of the submission of appropriate reports to FIC through the Head of Risk and Compliance
- Serve as the Focal Point for interaction with the Financial Intelligence Centre (FIC) and Bank of Ghana, by working through the Head of Department
- Follow up and report on the timeliness of submission of Regulatory reports
- Experience developing and implementing compliance programs
- Must have keen analytical skills
- Must be detailed oriented
- Excellent verbal and communication skills
- Good interpersonal skills
- Must be honest and trustworthy
- Must have strong writing and presentation skills
- Monitoring and Evaluation Skills
- Good understanding of branch operations
- Excellent organizational and time management skills
- Attention to details
EDUCATION AND PROFESSIONAL TRAINING
- First degree in any business-related field
- 3 to 5 years’ experience in similar role
- Any Related professional qualification will be an added advantage