Summary
Date Posted: Monday, February 24 2025, Base Salary: Not Disclosed

JOB DETAILS:
Key Accountabilities (Duties and Responsibilities)
Perspective: Customer & Internal Business Processes
Weighting: 60% (to add up to 100%)
• Implementation of Bank’s compliance program and the Anti-Money Laundering program.
• Develop and implement systems, mechanisms and procedures to ensure that Bank staff immediately report suspicious money laundering or terrorism financing activities.
• Clearly define and articulate the compliance obligations for each functional area and department of the Bank with clear allocation of compliance responsibility.
• Providing relevant, timely, accurate and value-adding reports to key stakeholders – Management and external customers e.g. regulators among others.
• Strengthening compliance and AML/CFT risk identification and assessment.
• Maintenance, review and updating of the Compliance and AML/CFT Policies and procedures.

Perspective: Financial/Business Growth
Weighting: 10%
• To conduct an annual risk assessment relating to financial crime and incorporate conclusions into current policies and requirements.
• Develop and ensure maintenance of a robust system that tracks compliance to establish legal, regulatory and policy parameters and prompt escalation of any exceptions or weaknesses.
• To agree with management remediation plans for all incidence of non-compliance with policy/procedure and follow up implementation on a timely basis and escalating to the Board as necessary.
• To make practical and acceptable recommendations where systems and procedures are in need of enhancement to counter the risk of financial crime.
• Coordinating and maintaining regulator relationships to ensure ease of communication, information sourcing, and achievement of response timelines.
• Maintenance of the correspondent and counterparty Bank Register with regard to AML/CFT & KYC requirements.
• Respond to and liaise with correspondent banks on compliance queries and issues.
• Ensure that compliance to policies, procedures, standards and practices are properly communicated and followed by responsible Bank staff.
• Ensure preparation of monthly and quarterly compliance status reports for circulation to the Bank’s Board Committee and Management Committees.
• Periodically conduct audits and reviews to ensure execution of compliance standards.
• Deliver and facilitate training on compliance and financial risk matters.
• Handle other duties as assigned to assist with the effective administration of the AML/CFT and KYC Policies.
• Monitoring and maintaining Compliance related expenses within budget.
• Assist the Head, Compliance and Regulatory Affairs in ensuring that budgeting for the department is done concisely and the budget is cost effective.

Perspective: Customer
Weighting: 20%
• Drive customer satisfaction through adherence to set service Level Agreements and issuing timely feedback to stakeholders.

Perspective: Learning and Growth
Weighting: 10%
• Identifying self-development and training needs and developing plans to satisfy areas identified for continuous improvement of skills
• Identifying training needs for direct reports and developing plans to satisfy areas identified for continual improvement of skills.
• Coaching and mentoring direct report to derive efficient and optimal output while up-skilling them to grow their knowledge base.
• Developing staff and personal motivation and presentation skills for effective communication and execution of duties.

Stakeholder Management: Key stakeholders that the position holder will need to liaise/work with to be successful in this role.
• Internal: Internal Audit and Risk, Branches, Head Office Units, and Heads of Departments, Group Risk and Compliance, Committees: Risk Management Committee, Executive Committee
• External: Regulators, Lawyers, Correspondent Banks and Counterparties, External Auditors, Customers
Decision Making Authority/Mandates/Constraints: The decisions the position holder is empowered to make (Indicate if it is Operational, Managerial or Strategic). Please also highlight any budgetary control responsibility if applicable for the role
• Appropriateness and relevance of the policies, procedures and tools.
• When to report suspicious transaction or activity to the Financial Intelligence Authority.

Work Cycle and Impact: Time horizon and nature of impact (Planning) (e.g. Less than 1 week, 2 weeks, 2 weeks – 1 month, 1 month – 3 months, 3-6 months, 6-12 months, above 1 year)
• Contribution annually to the formulation of the annual compliance work plan and training schedule.
• Contribution to the 5-year bank strategy, development and implementation.
• As per the departmental Service Level Agreement.

Academic Qualifications:
• A Bachelor’s degree in a business-related field.

Professional Certifications:
• Professional qualification in Anti Money Laundering, Financial Crime Risk and Corporate Governance practices from a recognized institution will be an added advantage.

Experience
• 5 years working experience in a banking environment or compliance management role with sound exposure to financial institution Regulatory and Compliance requirements.

Technical Competencies:
• Knowledge of Banking and Business Operations: Well-rounded knowledge of Banking, credit, operations, and processes. Effective in establishing appropriate goals and objectives and can ensure that they are delivered on time and within budget.
• Compliance Standards and Legislations: Excellent knowledge of National and International Compliance Standards and other relevant Legislations and guidelines by Bank of Tanzania.
• Compliance and Regulatory Framework: Understanding of the regulatory issues, reporting and operational requirement as provided by BOT, FIU, DPO, TRA, NSSF, and other authorities
• Conceptual and Analytical Skills: Ability to quickly grasp and understand systems and keen to detail.
• Technology Skills: Proficiency in the use of standard software applications such as Word, Excel, Access, PowerPoint including excellent modelling skills in Excel.

Behavioural Competencies:
• Results and Achievement Oriented: Strives to achieve results, enjoys measuring others, being measured, and being judged on performance standards and those of others (s)/he leads. Methodical and diligent with outstanding planning abilities.
• Personal Ethics: Must be honest, fair, just but firm with self, and of high integrity.
• Decisive and Independent: Ability to operate on own, consult and clarify where necessary and make informed decisions.
• Negotiation Skills: Must be a good negotiator, particularly in changing behaviour and work practices.

Communication and Interpersonal Skills: Well-developed oral and report/proposal writing skills, presentation skills and ability to work with and build motivated teams.

Work Hours: 8

Experience in Months: 60

Level of Education: Bachelor Degree

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