Officer, Compliance Monitoring
Officer, Compliance Monitoring
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Job Description
To enable the execution of Compliance Monitoring plans processes and activities across dedicated areas of a Business Unit in-line with the Group Monitoring Framework and standards to ensure the effective identification and reporting of Compliance risks and cases of non-compliance to avoid operational losses fines penalties or reputational damage to the organisation and enable competitive advantage for the organisation.
Capture all required information throughout each stage of the monitoring process as per the required data management processes procedures and standards as set out by the Group Compliance Data Model.
Conduct Compliance reviews by delivering against the Compliance Monitoring Plan across the required business unit area in-line with Group Monitoring standards and methodology specifically planning execution reporting and record-keeping to ensure sufficient coverage of material compliance risks.
Document and track the required mitigation actions to be taken this includes logging the findings action plans timeframes and roles and responsibilities.
Escalate high-risk findings to Line Manager to ensure timely mitigation and decision making.
Execute the Compliance Monitoring processes and activities as per the approved minimum standards within a dedicated Portfolio to ensure compliance with bank compliance policies applicable laws and regulations.
Execute the Compliance Monitoring Reviews to ensure they are thematic and structural to deliver the required level of assurance within the agreed timelines.
Guide and oversee the implementation and closure of the mitigation action plans by obtaining and filing the required evidence to prove mitigation plans have been correctly implemented.
Identify and document the root cause of issues identified with relevant business stakeholders and recommend mitigation actions to be taken.
Identify opportunities for the automation of Compliance Monitoring processes by working with the Group Compliance Monitoring data analytics team to automate enhance and simplify the compliance monitoring and review processes.
Implement the annual risk based Compliance monitoring plan which strategically covers key Compliance risk exposures within a dedicated portfolio in line with the Group Compliance Monitoring Methodology.
Prepare management reports detailing the review findings as required and as per the Group Compliance reporting standards to enable effective risk management decision making.
Provide effective training advisory and awareness to enhance the knowledge of the Business Units on the applicable compliance policies compliance procedures and regulatory requirements on a continuous basis.
Provide input into the development and maintenance of the business areas Compliance Monitoring Framework which specifically reviews the adequacy and effectiveness of compliance controls to ensure adherence to material high-risk applicable legislation policies and standards and is aligned to the Group Monitoring methodology to provide reasonable assurance that the business areas are adequately complying with relevant Regulatory requirements.
Provide recommendations and guidance to the leadership within a dedicated Portfolio on developing remediation programmes that ensures adherence to compliance policies compliance procedures and regulatory requirements.
Provide timely communication on the results of monitoring reviews to Business Units appropriate Subject Matter Experts and Business Compliance Officers as and when the identified gaps are confirmed instead of raising these at later stages of the review.
Remain proficient and knowledgeable of best practice in the specialist field of Compliance Monitoring and provide the necessary recommendations for adaptation and improvement.
Strive to influence a continual reduction in costs within the area under control to ensure that service delivered remains cost-effective and efficient.
Support and facilitate the Group Compliance Monitoring team is undertaking their monitoring reviews in-country as may be advised.
Track and report on the progress of the compliance monitoring plan for an entire Business Unit along with the embedded risk management function in order to identify significant compliance breaches exposures and potential areas of improvement.
Qualifications :
Type of Qualification: First Degree
Field of Study: Audit
Type of Qualification: First Degree
Field of Study: Business Commerce
Type of Qualification: First Degree
Field of Study: Legal
Experience Required
Compliance Risk Management
Compliance
5-7 years
The role requires a specialist in Compliance Advisory and Monitoring with a sound knowledge of the relevant regulatory requirements and upcoming developments applicable to a specific business area as well as a solid understanding of banking policies products and activities. Ability to take the understanding of business needs and operations and to translate it into Compliance risk management solutions.
Additional Information :
Behavioural Competencies:
- Adopting Practical Approaches
- Checking Things
- Convincing People
- Developing Expertise
- Documenting Facts
- Examining Information
- Following Procedures
- Interpreting Data
- Meeting Timescales
- Providing Insights
- Team Working
- Upholding Standards
Technical Competencies:
- Audit Methodology
- Audit Report Writing
- Evaluation of Internal Controls
- Execute Audit Delivery
- Financial Industry Regulatory Framework
- Promote Good Governance Risk & Control
Remote Work :
No
Employment Type :
Full-time
Employment Type
Full-time
