Oversee the completion and maintenance of the Compliance function’s governance strategy including annual monitoring plan, training plan and regulatory engagement plan etc.
Managing the team within compliance in the completion of compliance monitoring activities including onsite inspections, gap assessments, issue tracking etc.
Advise on best practice processes and systems to effectively monitor and control adherence, conformance, Governance and compliance to all policies and standards to ensure compliance with statutory and regulatory laws.
Identify and report on trends of non-conformance and compliance as per the required framework and standards across the bank and advise on critical development areas identified and required remedial actions.
Develop and ensure maintenance of a robust system for tracking new laws and regulations, interpreting the impact of these laws and mapping them against current policies and procedures to determine where changes are needed.
Ensure timely preparation and circulation of required periodic compliance reports to regulators, management and Executive Committees.
Keep abreast of and analyze relevant legislative and regulatory developments, impacting the bank to understand the implications for the organization and to deliver expert advice to the relevant Functions.
Responsible for communicating to senior management on implications of existing and proposed regulation and developing potential responses.
Ability to communicate with senior management and share insights based on analytics findings & testing results for management review.
Proactive engagement with the regulators to support material strategic and business development of dfcu bank.
Support and maintain strong team dynamics and culture.
To interact with each Business Unit (‘BU’) to ensure co-ordination and effective management of compliance processes.
Analyse and identify compliance risks, processes & controls and provide advice to management, relevant committees, within the BU(s) and the embedded business risk management function and employees, to effectively manage compliance issues.
Advise on Compliance Related Legislation affecting the respective Business Units (BUs).
Facilitate a comprehensive and up to date understanding of the status of compliance and regulatory matters.
Safeguard the reputational risk of the Bank by ensuring the BU(s) supports the reputational risk standards and related reputational risk policies & procedures.
In line with the compliance monitoring plan, monitor compliance with regulatory requirements and mandates to identify further areas of improvement and detect significant compliance breaches and exposures.
Assist and advise the BU(s) on the resolution of compliance audit/ monitoring issues.
Ensure the maintenance and alignment of the Bank’s Compliance Manual.
Lead the development, drafting and updating of policies, procedures and related training programmes.
Ensure that relevant compliance training has been tailored for BU(s) and, if appropriate, assist in the delivery of the training and awareness.
Remain aware of regulatory and legislative developments, and practices of regulatory authorities, which are relevant to the BU(s).
Assess and advise the BU(s) timeously and effectively on the impact of regulatory developments.
Ensure and track that the appropriate regulatory framework is in place for the BU(s) to adequately manage compliance risks.