Ecobank Transnational Incorporated (ETI) was founded in 1985 as a bank holding company through a private sector endeavor led by the Federation of West African Chambers of Commerce and Industry, with the Economic Community of West African States (ECOWAS) support. ETI is a publicly traded company with limited liability.
Ecobank is currently seeking skilled individuals to join their team in the following positions:
- Job Title: Cluster Compliance Officer
- Job Identification: 396
- Location: Abuja (FCT)
- Job Schedule: Full-time
What is Expected Of You?
Below is the job description
- Read and comprehend all processes in the Compliance Department, then apply them to assigned responsibilities within the Cluster.
- Implement a risk-based AML/CFT manual and other internal compliance policies.
- Implement AML/CFT laws and regulations, as well as other applicable laws, CBN AML/CFT regulations, and International Best Practice documents;
- To establish a strong compliance culture, reinforce compliance publications, directives, and guidelines.
- Provide guidance on the New Guide to Account Opening in terms of client onboarding, KYC/customer due diligence (CDD), compliance counseling, advisory, and decision support services to front office workers regarding AML/CFT and compliance issues.
- Monitor and report changes, raise widespread knowledge of current and pertinent issues that could jeopardize the Bank’s reputation;
- Provide ongoing compliance help as needed;
- Check to ensure that all regulatory displays at branches are accurate and up to date.
- Establish open lines of communication with law enforcement and regulatory authorities.
- Maintain a repository of all accounts instructed by the Cluster’s Regulatory or LEAs to be placed on PND or FREEZE.
- Maintain and update the list of accounts in the branch watchlist on a regular basis.
- After each meeting, compile and document all Cluster compliance regulatory visits/communications in the compliance log in the right format.
- Ensure the integrity of transactions and GL accounts in the branches by reviewing GL balance reports and other related adhoc and standard reports on a daily basis.
- Ensure the timely and accurate completion of all necessary returns and reports for the branches.
- Implement and execute aggressive revenue assurance and cost-cutting strategies/tactics for branches/products under consideration to achieve zero percent income leakage.
- Ensure that unresolved exceptions in the Inspection report are followed up on, and sign off on the Audit Verification Certificate.
- Ensure that all branches’ TJ and GL are reviewed on a daily basis.
- Ensure that operators effectively handle first-level call-over transactions.
- Identify potential areas of compliance vulnerability and risk within the Cluster and report them to the Area Compliance Officers as soon as possible.
- Implement corrective action plans to address observed compliance deficiencies.
- Ensure that accounts placed on PND due to inadequate documentation are not arbitrarily lifted unless such inadequacies in documentation have been rectified;
- Drive KYC in each customer’s account and take the necessary actions to improve the status of documents on both new and existing accounts.
- Follow-up on and ensure prompt resolution of audit exceptions reported by the Regulators, Internal Audit, and ARR Team in relation to the Cluster’s branches.
- Monitor, investigate, and close allocated SWIFT SANCTION Screening transactions as they relate to the Cluster, and escalate issues to the Cluster Head.
- Monitor, examine, and close allocated SIRONAML Analysis transactions for the Cluster, and escalate any challenges to the Cluster Head;
- Examine accounts to confirm that all PEP accounts in the Cluster are correctly documented, have the approval of Senior Management, have a customer risk assessment form, and are appropriately coded on the core banking application (CBA).
- Ensure that the central compliance office responds quickly to all regulatory and LEA inquiries.
- Investigate and report unusual/suspicious transactions to the Head of AML/CFT for the Chief Compliance Officer’s (CCO) attention.
- Produce follow-up memoranda to Branch management in response to deviations identified during the Branch’s daily activities review.
- On a monthly basis, GL proofs should be reviewed.
- Execute fixed asset verification/stock count of goods under hypothecation as directed by the Control Monitoring Unit in accordance with the Compliance plan review chart.
- Examine the Branches’ operations, security, and overall surroundings.
- Ensure that regulatory and other statutory examiners’ reports regarding the branches are followed up appropriately.
- Carry out spot checks and special investigations/inquiries as assigned from time to time
- Ensure that open items in the branches’ GL accounts are up to date and accurately reflect the nature of the products listed. Any significant variation from the standard must be escalated using the proper procedures.
- Daily evaluation of all exception reports/alerts generated by the system
- Seriality checks for all number forms (e.g., MC, Deal Slip, Form “M”, “A”, etc.) during onsite inspection to guarantee the completeness, orderly usage of form and correct posting.
- Reviewing both outward and inward clearing
- Examination of ATM reconciliation.
- Conduct sweeps and other tasks as given from time to time.
- Conduct due diligence on vendor verification as requested by EBS in assessing the bank’s vendors on a regular basis.
- Attend court proceedings on fraud cases at the request of the Legal Unit.
- All compliance training efforts inside the clusters must be organized and coordinated.
- Offsite ATM monitoring in accordance with regulations.
- Conduct a periodic audit of accounts having a zero balance.
- Comprehensive Assessment and Verification of RCSA through Independent Analysis
- Evaluate Bonds and guarantees recorded in the bank’s database.
- Examine accounts that do not have SMS/email alerts enabled.
- Assess accounts that do not have a Bank Verification Number (BVN) linked to them.
- Analyze expenses to identify significant cost factors and identify any unusual expenses recorded in the branch’s database.
- Create weekly Compliance Activity Reports related to job function areas and send them to the Area Compliance Officer.
- Carry out additional tasks as assigned by the central office periodically.
Job Requirements And Qualifications
In order to be eligible for this job, you must possess the following :
- A good university degree with at least a 2:2 ratio
- An advanced degree or professional qualification will be regarded as advantageous.
- Certification in Anti-Money Laundering/Terrorist Financing is a plus.
- A minimum of 5 years experience in branch operations or compliance for a commercial bank and/or an audit firm/operations is required.
- Demonstrate a solid understanding of Banking Principles.
- Have familiarity with process re-engineering.
- Exhibit strong Interpersonal skills.
- Possess Supervisory skills.
- Demonstrate strong Analytical/problem-solving abilities.
- Be proficient in computer literacy, including word processing, spreadsheet, and PowerPoint software.
- Display excellent customer service orientation.
- Think independently and critically.
- Have investigative skills.
- Possesses report writing and fraud investigation skills.
- Understand and interpret the Money Laundering (Prohibition) Act 2011 (as amended), Terrorism (Prevention) Act, 2011 (as amended), CBN AML/CFT Regulation 2013, and other international best practices documents.
- Possess a deep knowledge of banking operations, audits, products, and customer segmentation.
- Understand accounting fundamentals thoroughly.
- Be knowledgeable about fraud and operational risk.
- Understand and interpret CBN Guidelines, policies, and AML/CFT laws.
Personality and Attributes
- Paying keen attention to detail.
- Maintaining a positive attitude.
- Be driven by goals and results.
- Focus on providing solutions.
- Demonstrate effective communication skills.
- Exhibit perseverance and determination.
- Demonstrate effective leadership abilities.
- Promote a sense of teamwork and collaboration.
- Possess integrity, trustworthiness, and innovation.
- Display entrepreneurial skills.
How to Apply For The Position
Are you interested and qualified for this position? Click on the link below to commence your application. https://fa-emqf-saasfaprod1.fa.ocs.oraclecloud.com/hcmUI/CandidateExperience/en/sites/CX_1004/requisitions/job/396?source=HotNigerianJobs
September 20, 2023.
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