Compliance Officer Responsibilities in Uganda
The Compliance Officer role at VisionFund Uganda plays a crucial part in ensuring that the organization’s operations align with industry regulations and standards. As a Senior Risk and Compliance Officer, key responsibilities include:
Identifying and Managing Risks
- Identify and assess risks associated with business activities
- Update an inventory of essential laws, regulations, and guidelines governing the microfinance industry
- Centralize risk and compliance-related information
Education and Training
- Educate staff on risk-related matters
- Induct new employees on compliance requirements
Stakeholder Liaison and Reviews
- Liaise with internal and external stakeholders to resolve risk and compliance matters
- Conduct periodic reviews of branch portfolios to ensure compliance
- Keep track of new laws and regulations from both VisionFund International and local authorities
Policy Assessment and Reporting
- Assess the appropriateness of internal policies and procedures in relation to governing laws, corporate governance, code of ethics, professional conduct, and competition
- Conduct compliance checks and present reports to supervisors
- Follow up on the resolution of identified risk findings and make recommendations for amendments where necessary
Financial Risk Management and Corrective Measures
- Ensure financial risk management follows prescribed policies and procedures
- Supervise the implementation of corrective measures to mitigate identified risks
Monthly Reporting and Compliance Status
- Submit monthly risk and compliance reports to supervisors highlighting compliance status and areas in need of improvement
- Follow up on resolution findings in departments and branches by audit both internal and external
- Create awareness of current and future regulatory developments that may affect VisionFund Uganda’s business
Requirements
The ideal candidate should have:
- A Bachelor’s Degree
- Professional accounting or audit qualification
- Diploma in law (added advantage)
- Over four years’ experience in risk and compliance activities in a regulated financial institution
- Field travels from time to time are required for the role