Job ID: 21358 Job Sector: Banking Job Purpose
Compliance activities are directed towards making sure that the operations of the company are carried out in an effective and efficient manner through adherence to rules and regulations as stipulated in the Pension Reform Act (PRA) 2014, circulars and guidelines issued by the National Pension Commission so as to achieve the set goal of providing sustainable pension to the deserving retired employees
Key Responsibilities/Accountabilities Manage the Compliance and the Regulatory & Reporting Units:
Ensure compliance with regulations, circulars and guidelines issued by the National Pension Commission (PenCom) and other relevant Regulators.
Ensure compliance with the Company’s internal policies.
Ensure effective handling and management of regulatory reporting requirements as well as ad hoc reporting needs with respect to operational activities of the business such as collections, payments etc..
Provides a key focal point in the anticipation of future regulatory requirements and ensuring the business is well positioned to meet these needs with minimal interruption to service.
Ensure that the operations of the company are carried out in an effective and efficient manner through adherence to the provisions of the PRA 2014 and other laws such as the Companies and Allied Matters Act (CAMA), Investments and Securities Act (ISA), and the Insurance Act.
Oversee the Compliance Function of the organization:
Ensuring compliance with the provisions of the Act. Any rules and regulations made there-under and the internal rules and regulations made by the PFA;
Have relevant professional and cognate experience; Reporting to the Chief Executive Officer of a PFA and the Commission on any non-compliance by the PFA: and
Liaising with the Commission with regard to any matter which in the opinion of the Commission will enhance the compliance of the PFA with the provisions of this Act and guidelines issued there-under.
Maintain standard effective and efficient relationship with PenCom and other Regulators.
Promptly render Daily, Weekly, Monthly and Quarterly returns to the Regulator (PenCom).
Member-Executive Committee:
Establish a permanent and effective compliance risk management system.
As part of their on-going management responsibility, must have adequate knowledge of compliance as well as the risks relating thereto.
Ensure the implementation and management of appropriate compliance controls in their respective areas of operation.
Member-Board Risk Management Committee (BRMC):
BRMC shall have the primary responsibility for the compliance, and oversee the management of the SIPML’xs compliance risk.
BRMC shall approve the compliance policy.
At least once a year, the BRMC or a Committee of the Board shall identify and assess the extent to which SIPML is managing its compliance risks
Internal Relationships:
Executive Committee of SIPML, BRMC
Job: Partner with EXCO to ensure compliance with regulations, circulars and guidelines issued by the National Pension Commission (PenCom) and other relevant Regulators and with the Company’s Internal policies
Management Committee:
Job: Partner with ManCo to ensure compliance with regulations, circulars and guidelines issued by the National Pension Commission (PenCom) and other relevant Regulators and with the Company’s Internal policies
All Business Units
External Relationships:
PENCOM, PenOp and other industry engagements
Job: Maintain standard effective and efficient relationship with PenCom and other Regulators, Liaising with the Commission with regard to any matter which in the opinion of the Commission will enhance the compliance of the PFA with the provisions of this Act and guidelines issued there-under.
Preferred Qualification and Experience
A minimum educational qualification of first degree or its equivalent or professional qualification in either of the following:
Accounting
Actuarial Science
Auditing
Finance
Economics
Commerce
Law, or in any other numerate or semi numerate field
Possesses good understanding of financial records and relevant regulatory requirements
Professional qualification/certifications e.g.. CCEP-I
More than 10 years in Independent assurance in a Financial Institution
More than 10 years in Leadership and managing a team
Knowledge/Technical Skills/Expertise:
Compliance: Expert ability to interpret regulations and laws that apply to the business and to provide information to business on how to comply.
Evaluating Risk Management Effectiveness: Expert ability to determine if risk management and control measures are achieving the desired results and mitigating risks at the expected level.
Risk Response Strategy: Expert ability to facilitate the creation and adoption of an appropriate risk response strategy and to assign ownership for the risk response.
Risk Measurement: Expert ability to define and analyse risk identification information in a quantitative and/or qualitative way.
Accountability for problem solving:
Be sufficiently independent to be able to perform their duties objectively
Monitor the status of business units adherence to regulations
Accountability for planning of activities:
Leadership of Group wide process
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careers.peopleclick.eu.com
