Job Objectives:
To ensure compliance with the provisions for the Pension Reform Act, 2014
To ensure compliance with all rules, guidelines, circulars and codes issued by the National Pension Commission (PenCom or the Commission)
To ensure compliance with all the firm’s internal rules and policies
Key Responsibilities and Accountabilities
Maintaining electronic or physical custody of all applicable legislation, rules, regulations, codes, guidelines and circulars, as may be issued by the government or Commission from time to time.
Review and monitoring compliance to regulations.
Conducting compliance audits covering all operational areas.
Ensure returns are rendered periodically, as required by regulation.
Identify potentials problem areas and recommend appropriate solutions.
Continuously monitor and ensure implementation of regulation, codes, rules and guidelines, as may be issued from time to time by the Commission.
Preparation of compliance reports on monthly and quarterly basis to the Board and the Commission.
Identify and monitor corporate / investment activities and policy indicatives as the case may be, with a view of identifying issues and ensuring compliance in accordance with the provisions of the PRA 2014.
To ensure appropriate levels of confidentiality and discretion are maintained throughout the compliance monitoring processes.
Reporting of violations to appropriate authorities, including commission.
Informing the company about the standards for conduct and ethical obligations required of the company.
Create and promote a positive compliance attitude and culture within the company.
Ensure all investment and other operational transactions comply with all relevant legislations, regulations and policies through appropriate control systems in order to minimize and mitigate risks.
Ensure that a suitable code of conduct exist in the organization.
Ensure that information given to customers is clear, straight forward and not misleading.
Ensure that appropriate remedial or disciplinary action is taken, if breaches are identified.
Monitoring and testing new compliance technologies and procedures such as intelligent transaction monitoring systems etc.
Advise management on compliance issues and inform management on developments in this area.
Monitor regulatory changes and ensure the dissemination of regulatory updates of regulations, rules or guidelines and periodic compliance changes to concerned offices / officers.
Measurement of compliance risk (using performance indicators) and the use of such measurements to enhance compliance risk assessment.
Conducting quarterly compliance surveys.
Monitoring the whistle-blowing process.
Managing the Internal Communication platform.
Liaising with regulators
Prevention of money laundering & Terrorism Financing in the system
Advise/educate on AML/CFT awareness, detection methods and reporting requirements.
Ensure prompt and accurate rendition of relevant returns in line with regulatory requirements and international best practices.
Liaison with the various relevant regulatory bodies on money laundering matters.
Engendering the maintenance of adequate and complete documentation in line with know your customer / client familiarity index
Creation and maintenance of awareness on money laundering matters in the Company.
Review of audit report
Review of International Blacklists
Ensure Maintenance of proper record keeping within the organisation
Creation and maintenance of awareness on Money Laundering / Terrorism Financing matters in the Company
Monitoring of transactions to ensure detection of unusual transactions
Preliminary investigation of unusual transactions
Prevent, detect and report on money laundering and terrorist financing incidents
Ensuring an effective AML Compliance Program is in place
Responsible for Liaising with relevant national AML authorities
Immediate reporting (within 24 hours) of AML/CFT issues that will have a material impact to the Group Anti-Money Laundering Officer (GAMLO)
The AMLO is required to make an annual report on AML/CTF activity to the CEO, audit committee members and the Group Anti-Money Laundering Officer (GAMLO).
Reporting on sanctioned countries and Individuals
Required Skills and Competencies
Relevant first degree or its equivalent or professional qualification in Accounting, Actuarial Science, Auditing, Finance, Economics, Commerce, Law, or in any other numerate or semi-numerate field.
A minimum of 10 years post-call experience, of which at least 4 must have been in management capacity.
Good understanding of financial records and relevant regulatory requirements.
Computer Literate.
High level of Integrity.
Strong oral and written communication ability.
Good interpersonal skills and team player.
Committed to self-development.
Ability to interpret and apply legislation, regulations, guidelines and other regulatory requirements.
In-depth knowledge of PRA 2014 and operations.
Sound business judgement and ability to proactively look at markets and regulatory trends.
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