FINCA

Regulatory Compliance Officer

Job Summary

The Regulatory Compliance Officer shall be a person conversant with Regulators’ Laws, Regulations and Guidelines, and having a wide role of ensuring FINCA Tanzania’s Policies and Procedures on lending, deposits, accounting, investments, practices on reporting, auditing, governance and others are adhering to the current Laws, Regulations and Guidelines governing Regulated Financial Institutions in the United Republic of Tanzania .

  • Minimum Qualification: Bachelor
  • Experience Level: Mid level
  • Experience Length: 2 years

Job Description/Requirements

EXCITING CAREER OPPORTUNITY


  • Position: Regulatory Compliance Officer
  • Department: Legal
  • Location: Head Office



A. ESSENTIAL DUTIES include the following and other duties maybe assigned by the Supervisor


1. Compliance to the Bank of Tanzania Regulations

  • Liaise with the Bank of Tanzania regarding Regulatory Compliance matters
  • Access various regulations from the Bank of Tanzania governing Lending, Deposits, Accounting, Investment, Governance and so others; asses and communicate the same to staffs for implementation
  • Regularly evaluate and prepare general institutional compliance status reports and inform the management for action / improvement
  • Let the senior management informed and advised regarding proposed and pending regulatory changes by the Bank of Tanzania (on current / new and future compliance requirements)
  • Assess any new products, investments and services to ensure they comply with regulations of the Bank of Tanzania before are put into implementation stage
  • Make constant monitoring /follow up to the noncompliance matters raised internally or by the Bank of Tanzania to ensuring are timely resolved
  • Evaluate FINCA policies and operational procedures to ensure they comply with regulations and any applicable laws of the Bank of Tanzania; where inconsistencies are found, propose for immediate changes


2. Compliance to requirements of other Regulatory Agencies/boards

  • Administer matters relating to Anti – Money Laundering (AML) regulations and Terrorist financing activities. Evaluate and Monitor suspicion transactions for subsequent AML reporting and prepare and train staffs on internal and external efforts towards AML & CFT
  • Assess and oversee the FINCA Tanzania’s compliance level towards Regulations, Laws and Guidelines governing Taxations, Business Licensing, Money transfers, Mortgages, Auditing, Social Securities, Staff security and safety at workplaces and such like others while keeping Management informed for actions/improvement
  • Evaluate the consistence of FINCA’s compliance status in respect to Tanzanian Financial Institution practices as agreed or amended regularly in various forums
  • Evaluate the FINCA’s compliance level in respect to other national and international conventions regulating the banking and financial industry; to identify noncompliance or ensure compliance takes place
  • Coordinate with the office of a Legal Counsel for new enacted Laws /amendments and subsequent Regulations that affect FINCA banking business and monitor implementation thereof;
  • Research on various laws and regulation that have business, customers and general public interest to have better understanding and make appropriate recommendations for management to adopt / apply them in its operations


3. Compliance with FINCA International General Policies

  • Serve as the liaison between the FINCA Tanzania and Global Compliance Officer;
  • Ensure FINCA Tanzania’s policies, products, services and governance practices comply with Subsidiary General Policies Manual (SGPM) and its appendices as updated from time to time
  • Make analyses on FINCA operation manuals to determine where the Tanzanian local laws contradict with SPM and immediately propose changes to ensuring local laws supersede the SPM
  • Request waiver on noncompliant with SPM due to impediments by local laws / regulations
  • Making sure any other changes as communicated from the Executive Office of F/I & FMH are accommodated in operating policy manuals
  • Supply support and oversight for FINCA personnel regarding application of the AML/CFT Policy, KYC Procedures, investigation and reporting of Suspicious Activity, and training under the AML/CFT Policy.
  • Investigate Suspicious Activity, take appropriate action, and report such Suspicious Activity and responses to the GCO and any authorities required under local law.
  • Provide quarterly reports to the GCO summarizing all transactions from the previous quarter, which meet the definitions of Automatic Review Transactions and Suspicious Activities.
  • Regularly provide information to the FINCA auditors, Management Team, Board of Directors, and/or relevant Board Committee(s) and the Global Compliance Officer.
  • The SCO shall support subsidiary for being compliant to FATCA requirements and might serve as the FATCA officer.
  • Accept any other duties or obligations requested by the Global Compliance Officer, the Risk, compliance and internal control department, or Office of General Counsel, from time to time, to ensure compliance with the Global AML/CFT Policy and Due diligence Manual.


B. QUALIFICATION AND COMPETENCE;



1. Education:

  • A University degree in Law, Economics, Finance, Accounting or Business Related Studies. Certification in Compliance or Risk Management will be an added Advantage.
  • Language: A good command in written and spoken English


2. Experience:

  • 2 years’ Experience in working with either Micro-finance or Banking institution
  • A sound knowledge of principles and practices of Microfinance, banking, and other deposit taking and or lending Institutions
  • Previous working experience as Compliance Officer will be an added advantage


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