Financial Crime World

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Financial Institution Compliance Officer Role in Uganda

In a bid to strengthen its compliance framework, UGAFODE Microfinance Limited (MDI) has announced an exciting job opportunity for a seasoned Financial Institution Compliance Officer. The successful candidate will be responsible for ensuring that the institution’s operations are in line with regulatory requirements and best practices.

Job Summary

The Compliance Officer will provide critical support to the organization by identifying, assessing, monitoring, and implementing recommendations as well as reporting compliance risks in accordance with UGAFODE (MDI) Annual Operating Plan. The role is pivotal in ensuring that the institution’s financial transactions are transparent, ethical, and compliant with relevant laws and regulations.

Key Responsibilities

The Compliance Officer will be responsible for:

  • Ensuring Anti-Money Laundering and Combating Financing of Terrorism acts (AML & CFT) compliance by monitoring and reviewing AML risk through an efficient identification and monitoring process.
    • Conducting compliance checks as per approved compliance schedule, conducting reviews, assessments, and addressing compliance faults and subsequent reporting of compliance risks from all bank branches and departments.
  • Closing pending compliance issues by visiting branches and operational departments to resolve emerging compliance issues and action plans in line with agreed recommendations and timelines.
  • Continuously reviewing, preparing, and submitting follow-up reports on compliance/non-compliance to lenders’ covenants and other service level agreements.
  • Conducting regulatory compliance reviews by following up, documenting, and disseminating regulatory guidelines/directives and ensuring timely implementation of the same.
  • Providing relevant support in the implementation of compliance trainings to staff to resolve any compliance deficiencies detected.

Requirements

To be considered for this role, applicants must possess:

  • A Bachelor’s degree in Business Administration or a related field.
  • Completed at least three papers of CPA or ACCA and at least two years’ experience in banking or a related financial institution with experience particularly in compliance.

The ideal candidate will also possess:

  • A good understanding of laws and regulations governing financial institutions.
  • Strong networking and stakeholder engagement skills.
  • Sound judgement, decision-making skills, and analytical thinking.
  • Broad knowledge of Banking Operations, Pertinent Banking Compliance legislation, policies, and procedures.
  • In-depth knowledge of AML, KYC principles, workings of different international sanction lists.

How to Apply

Interested candidates who meet the above criteria should submit their motivation letters together with an up-to-date CV to recruitment@ugafode.co.ug by February 14th, 2020.