Head of Compliance
Job Description
Retrust Microfinance Bank is looking to hire a Head of Compliance who will be responsible for developing, implementing, and monitoring the Bank’s compliance framework to ensure adherence to applicable laws, Central Bank of Nigeria (CBN) regulations, regulatory directives, internal policies, and industry standards.
Key Responsibilities
- Develop, implement, and periodically review the Bank’s compliance policies, procedures, and framework in line with applicable laws, CBN regulations, and other relevant regulatory requirements.
- Monitor the Bank’s compliance with statutory obligations, regulatory directives, internal policies, operational procedures, and industry standards.
- Provide legal and regulatory advisory services to the Managing Director, management team, and Board on compliance-related matters.
- Coordinate compliance reviews, risk assessments, internal control monitoring, and regulatory compliance audits, ensuring that identified gaps are addressed promptly.
- Ensure timely preparation and submission of regulatory returns, reports, and other statutory filings to the CBN and relevant authorities.
- Oversee compliance with applicable Anti-Money Laundering and Counter-Terrorist Financing (AML/CFT) requirements, Know Your Customer (KYC) procedures, sanctions screening, and suspicious transaction reporting obligations.
- Monitor changes in applicable laws, regulations, and regulatory guidelines and advise management on their implications for the Bank’s operations.
- Liaise with regulatory authorities, external auditors, legal advisers, and other relevant stakeholders on compliance matters.
- Develop and implement compliance awareness programmes and training for employees to promote a strong culture of regulatory compliance and ethical conduct.
- Maintain appropriate compliance records, registers, and documentation for regulatory inspections and internal reviews.
- Lead, supervise, and develop the compliance team, ensuring effective performance and continuous improvement.
- Escalate material compliance breaches, regulatory risks, and control weaknesses to the appropriate management and governance structures.
Key Requirements
- A Bachelor of Laws (LL.B.) Degree or any social sciences from a recognised university or polytechnic.
- Relevant professional training or certification in compliance, AML/CFT, MCIB, risk management, or corporate governance will be an advantage.
- Required Experience: A minimum of seven (7) years’ relevant professional experience in regulatory compliance, risk management, or a related field, preferably within a bank, microfinance bank, or other regulated financial institution.
- Demonstrable knowledge of CBN regulations, Nigerian financial services laws, corporate governance, and regulatory compliance requirements.
- Practical experience in compliance monitoring, regulatory reporting, policy development, and engagement with regulatory authorities.
- Experience in leading or supervising a compliance function will be an added advantage.
Interested and qualified candidates should send their CV to Careers@retrustmfb.com using the Job Title as the subject of the email.
