Job Description:

About the Job:

Reporting to the Senior Legal Officer, the Risk & Compliance Officer is responsible for providing business support and oversight to the enterprise-wide risk management (ERM) strategy and framework. This role involves translating the risk appetite framework into informed decision-making practices and supporting the SACCO’s business model and strategic plan.

Responsibilities:

• Manage the implementation of all aspects of the risk function.
• Identify, assess, and monitor risk on an ongoing firm-wide and individual entity basis.
• Undertake quality control reviews for business units.
• Provide consolidated reporting, including an overall risk profile.
• Assist in the development and managing processes to identify and evaluate business areas’ risks and risk and control self-assessments.
• Manage the process of developing risk policies and procedures, risk limits, and approval authorities.
• Present monthly & quarterly risk & compliance reports to management.
• Ensure new and amended policies and procedures are verified and analyzed for risk mitigation.
• Conduct feasibility studies for new business distribution channels.
• Report on the Implementation matrix of Supervisory Committee, External Auditors, and Internal Auditor Reports.
• Implement and manage the risk and control assessment reporting process.
• Establish systems, policies, and procedures to identify, control, manage, and measure enterprise-wide risks.
• Improve risk management readiness and create an institutional culture that prioritizes effective risk management.
• Identify and mitigate Cyber Security and other emerging risks.
• Advise management and staff on emerging compliance issues.
• Review and advise management on risk associated with new products, processes, credit applications, and internal processes.
• Manage and report on incidences as well as disaster recovery.
• Assess, monitor, and update risk registers.
• Ensure compliance with AML, SASRA, UFAA, Data protection, and other requirements.
• Ensure the implementation of recommendations from internal & external audit.

Requirements:

• University degree in Finance, Accounting, Economics, or any other relevant course.
• Membership to a professional body is a requirement.
• At least five (5) years of progressive and relevant experience, preferably in a financial institution.
• Must possess excellent analytical, planning, organizational, time management, as well as interpersonal skills.