Compliance Officer at UBA Bank Tanzania

Department: Compliance
Division: Compliance Department/Unit
Version: 2

Job Purpose

The Compliance Officer will be responsible for identifying, assessing, and managing compliance risks within the organization. The role ensures that the institution operates in accordance with applicable laws, regulations, internal policies, and ethical standards. The successful candidate will serve as a trusted advisor on compliance matters, strengthen the Anti-Money Laundering (AML) and Know Your Customer (KYC) environment, and support the development of a strong compliance culture throughout the organization.

Key Duties and Responsibilities

• Identify and assess compliance risks associated with current and proposed business activities, including new products, services, and business relationships.
• Develop and maintain an inventory of relevant laws, regulations, and regulatory requirements applicable to the organization.
• Advise the Group Chief Compliance Officer on applicable legal and regulatory requirements and any developments affecting the organization.
• Adapt and implement Group compliance policies, procedures, guidelines, and codes of conduct to align with local regulatory requirements.
• Centralize and maintain records relating to compliance matters, including breaches, procedural violations, and conflicts of interest.
• Provide guidance and advisory support to staff on compliance-related matters and regulatory obligations.
• Conduct staff awareness programs, training sessions, and sensitization initiatives on compliance, AML, KYC, and ethical standards.
• Liaise with regulators, supervisory authorities, and external bodies on compliance-related matters.
• Ensure timely reporting of suspicious transactions relating to money laundering and terrorist financing in accordance with applicable laws.
• Supervise compliance reviews, monitoring activities, and internal control assessments across the institution.
• Coordinate AML/KYC examinations conducted by regulatory authorities and facilitate responses to regulatory requests.
• Review internal policies, procedures, and guidelines relating to corporate governance, professional conduct, and ethical standards.
• Identify gaps or deficiencies in compliance frameworks and recommend appropriate corrective actions.
• Monitor the implementation of corrective measures arising from compliance reviews and regulatory examinations.
• Conduct transaction monitoring activities to identify unusual or suspicious transactions.
• Perform customer risk assessments and profile customers according to established risk categories, including high, medium, and low risk classifications.
• Monitor compliance with the Group's Code of Ethics, Corporate Governance principles, and Whistle Blowing Policy.
• Prepare and submit periodic compliance reports to the Group Chief Compliance Officer.
• Maintain up-to-date knowledge of regulatory developments and industry best practices affecting the banking sector.
• Support the development and continuous improvement of the organization's compliance framework.
• Promote a strong compliance culture throughout the institution.
• Perform any other duties assigned by management in line with the objectives of the role.

Key Performance Indicators

• Effectiveness in reviewing and tracking regulatory returns.
• Efficiency in collecting and consolidating periodic exception reports.
• Effectiveness in monitoring individual and corporate customer accounts.
• Timeliness in following up on identified compliance exceptions and ensuring appropriate corrective actions are implemented.
• Customer satisfaction levels relating to compliance support services.
• Percentage of compliance with statutory and regulatory requirements.
• Number of regulatory infractions identified and resolved.
• Achievement of additional performance indicators as determined by management.

Qualifications and Experience

• Bachelor's degree in any discipline from a recognized institution.
• A Master's degree in Business Administration, Banking, Accounting, Strategic Management, or a related field will be an added advantage.
• Professional qualifications relevant to banking, compliance, risk management, or financial services will be an added advantage.
• Minimum of three (3) years of experience in a bank or financial institution in a similar capacity.

Required Knowledge

• In-depth knowledge of statutory requirements affecting the banking sector.
• Strong understanding of Central Bank prudential guidelines.
• Knowledge of banking industry rules, regulations, and regulatory frameworks.
• Excellent understanding of internal policies, procedures, and control environments.
• Knowledge of Anti-Money Laundering (AML) and Know Your Customer (KYC) requirements.
• Understanding of Basel standards and banking industry developments.

Required Skills and Competencies

• Strong analytical and risk assessment skills.
• Excellent communication and report-writing abilities.
• High level of integrity, professionalism, and ethical conduct.
• Strong organizational and time management skills.
• Attention to detail and accuracy in reviewing information.
• Ability to interpret laws, regulations, and regulatory requirements effectively.
• Strong problem-solving and decision-making capabilities.
• Ability to work independently and handle confidential information with discretion.
• Effective stakeholder management and relationship-building skills.
• Good interpersonal skills with the ability to provide guidance and training to staff.
• Proficiency in information technology and standard office applications.
• Ability to work effectively under pressure and meet regulatory deadlines.
• Commitment to continuous learning and professional development in compliance and financial crime prevention.

Interested candidates are required to submit:

• A detailed CV
• A Cover Letter
• Copies of all academic certificates

Applications must be sent electronically to: [email protected]