Head of Risk and Chief Compliance Officer at FINCA Microfinance Bank Limited

FINCA is a leading international Microfinance Institution offering financial services and products to small scale businesses that have been turned down by traditional banks, so that these businesses can start, grow, and diversify with resulting increases in family income, nutrition, employment and well-being.

FINCA pioneered the “Village Banking method of credit delivery, now used by hundreds of organizations worldwide. Our programs reach low-income people in more diverse countries than any other microfinance provider.

We are recruiting to fill the position below:

Job Title: Head of Risk and Chief Compliance Officer

Location: Owerri, Imo
Department: Operations
Category: Risk Management

Job Description

• We seek individuals with whom we can build strong and lasting relationships – people who care about, and have respect for, customers.
• We look for colleagues who approach their work with joy, innovation, energy, and a sense of service beyond self.

Role Purpose

• The principal purpose of the Head Risk & Chief Compliance Officer role is to establish, implement and enforce a robust Risk Management framework and systems (policies, processes, and tools) covering the ten key risks defined by FINCA’s Global Risk management function.
• In addition, the Head Risk & Chief Compliance Officer supports Management in creating and maintaining a sound Risk and Internal Control environment within the agreed risk appetite determined by FINCA Nigeria’s Management Board.
• The ideal candidate will assist Management in improving the overall performance and activities of FINCA Nigeria in making decisions on issues of risk identification, analysis, mitigation, and prevention.
• Working within the subsidiary’s regulatory requirements and in coordination with FINCA Nigeria functional heads, the Head Risk & Chief Compliance Officer will manage and monitor control activities and recommend corrective actions to remediate identified control deficiencies.
• The ideal candidate will also develop work plans in coordination with Management aligned with FINCA Nigeria’s strategic and operational objectives and any requirements of external governance bodies.

Accountabilities:

• Support business in developing appropriate Risk Management strategies or tools and disseminating proper risk management practices in line with developments in the market/industry, laws, regulations, etc.
• Overseeing and enforcing Risk Management policies and established risk limits to close significant gaps in risk management capabilities.
• Conduct analysis of operations of FINCA Nigeria to identify risks and make recommendations for preventive actions. This includes the implementation of the Risk Control Self-Assessment (RCSA) program in the subsidiary.
• Monitor risks through relevant Key Risk Indicators (KRI) quantified, effectively measured, and thoroughly analysed to ensure the business functions satisfactorily within established risk appetites.
• The timely investigation, analysis, and reporting of compliance issues and fraud instances can negatively affect FINCA Nigeria’s operations and reputation;
• Manage the evaluation of the possible risks (including third-party risks associated with vendor selection and Management, as applicable) for the proposed new products, procedures, and functions. Set up and manage internal controls tools and instruments during implementation.
• Provide an independent view of proposed business plans and appropriate reporting on risks identified to Management.
• Manage regular evaluation process of all FINCA Nigeria’s regulatory documentation to ensure completeness, accuracy, and efficiency.
• Supervise and monitor the Risk and Internal Control staff.
• Support the training and development of the FINCA Nigeria risk and Internal Controls staff, including fraud management responsibilities.
• Supporting the Board in its development of FINCA Nigeria’s risk appetite and statements for translating the risk appetite into a risk limits structure.
• Conduct periodic branch reviews of the operational and credit processes per the FINCA Internal Controls Manual procedures.
• Preparation of monthly/quarterly risk management reports for the Subsidiary and Global Board reporting.

Requirements
Qualifications:

• Bachelor’s Degree or equivalent in Business Administration, Finance, Economics, Management or related fields of study; Advanced or Graduate-level Degree is desirable;
• Microfinance Certification is required;
• Additional qualification/certification in Risk Management, AML/KYC compliance & internal controls is preferred.

Experience:

• 7 years experience in risk, internal control, internal audit or accounting including 5 years on a managerial position in financial sector;
• Experience of working with regulatory bodies;
• Experience of drafting and developing policies.

Knowledge and Skills:

• Having a strong business acumen;
• Having good people management skills;
• Having good communication and presentation skills;
• Having excellent analytical skills.

Language Skills:

• Fluency in English is required.

Deadline: 1st April, 2022.

Method of Application
Interested and qualified candidates should:
Click here to apply online