Financial Crime World

Compliance Officer Responsibilities Take Center Stage in Tanzania’s Banking Sector

The United Republic of Tanzania’s banking sector is poised to receive a significant boost with the appointment of a Compliance Officer at UBA Tanzania Ltd. This critical role will ensure that the bank complies with all applicable laws, regulations, rules, and standards in the country.

Job Responsibilities

As outlined in the job posting, the Compliance Officer will be responsible for:

  • Advising the Head of Compliance on relevant legal requirements and developments
  • Adapting the group’s guidelines to staff and service providers on implementing these requirements
  • Centralizing information on compliance-related issues within the subsidiary
  • Educating staff on compliance matters
  • Liaising with external bodies and regulators

Key Objectives

The job objectives are clear:

  • Identify and evaluate compliance risks within the country
  • Organize and structure compliance controls
  • Control and monitor measures to mitigate these risks
  • Develop a framework to update the subsidiary on its compliance level with regulatory laws

Additional Responsibilities

In addition, the Compliance Officer will be responsible for:

  • Providing quality training and sensitization to all staff on relevant compliance issues
  • Liaising with local AML enforcement agencies
  • Building a strong KYC environment
  • Identifying and assessing compliance risks associated with current and proposed business activities, including new products and relationships
  • Maintaining an inventory of essential laws and regulations pertinent to the bank

Competency Requirements

To be successful in this role, candidates must possess:

  • In-depth knowledge of major statutory requirements affecting Tanzania’s banking sector
  • Excellent knowledge of internal policies and procedures
  • Good communication and writing skills
  • Good IT skills

How to Apply

If you are a qualified candidate interested in applying for this critical role, please submit your:

  • CV
  • Cover letter
  • Academic certificates

to recruitment.tanzania@ubagroup.com with the subject “Application for COMPLIANCE OFFICER; 2024”.

Deadline: April 14th, 2024.