Financial Crime World

Here is the rewritten article in Markdown format:

Compliance Officer Duties in Uganda: A Crucial Role in Banking

In a bid to ensure that financial institutions adhere to all applicable laws, regulations, and policies, Yako Bank has announced a vacancy for a Compliance Officer. The successful candidate will be responsible for monitoring the bank’s activities, identifying potential risks or compliance issues, and taking corrective action to guarantee that the institution is compliant with relevant legal and regulatory requirements.

Job Summary

The Compliance Officer will support the achievement of profitability through management of set departmental objectives, identify compliance obligations for each department of the Bank, and offer time compliance review support. Additionally, they will develop plans to proactively address potential regulatory compliance risks, conduct internal audits, and provide guidance and training on compliance matters.

Key Duties and Responsibilities

  • Compliance Scope: Supporting the establishment of a complete compliance scope for the Bank based on applicable laws, regulations, policies, agreements, and standards guidelines;
  • Training Programs: Developing and delivering compliance risk training programs across the bank;
  • Reporting: Preparing periodic reports to update business units and senior management on regulatory compliance exposures;
  • Policy Reviews: Conducting reviews of all policies, guidelines, and procedures that provide direction on processes within the business units;
  • Implementation: Implementing internal and external audit recommendations, Bank of Uganda directives, and Board of Directors resolutions;
  • Risk Management: Assisting in establishing a systematic approach to qualitative risk self-assessment factors and quantitative key risk indicator (KRI) loss data collection and analytics.

Requirements

The ideal candidate should have:

  • A minimum of a Bachelor’s degree in law, business management or similar field
  • At least 2 years hands-on experience as a compliance officer in a bank or financial institution
  • Previous exposure working in frontline banking operations
  • Strong knowledge of legal requirements and controls
  • Excellent verbal and written communication skills
  • Analytical skills
  • Risk management skills
  • Ability to work well in a team environment

Application Deadline

The application deadline for this role is Friday, 14th June 2024. Interested candidates should submit their applications along with their CVs and academic documents online through [email address].