Compliance Manager at Source Microfinance Bank Limited

Source Microfinance Bank is a digital bank with a focus on how to serve you better always! At Source Credit, we have our plans to serve you better right at the center of all we do, and our service offerings. We also ensure we give the best customer service experience that is tailored just for you. Source Microfinance Bank is poised to change the face of banking in Nigeria. We are reinventing banking to empower a generation.

We are recruiting to fill the position below:

Job Title: Compliance Manager

Location: Lagos
Job Type: Full time

Job Description
Regulatory Compliance Management:

• Monitor compliance with CBN regulations, Prudential Guidelines, AML/CFT regulations, NDIC requirements, and other applicable laws.
• Ensure the Bank's operations, products, and services comply with regulatory requirements.
• Advise Management on emerging regulatory developments and compliance implications.
• Coordinate implementation of new regulatory requirements across the Bank.

 Compliance Monitoring & Testing:

• Develop and implement an annual compliance monitoring plan.
• Conduct periodic compliance reviews and testing across departments.
• Identify compliance breaches and recommend corrective actions.
• Track and follow up on remediation of identified compliance issues.

 Anti-Money Laundering (AML/CFT) Compliance:

• Serve as the Bank's AML/CFT Compliance Officer where applicable.
• Monitor compliance with KYC, Customer Due Diligence (CDD), and Enhanced Due Diligence (EDD) requirements.
• Review and monitor suspicious transactions and unusual activities.
• Ensure timely filing of Suspicious Transaction Reports (STRs) and Currency Transaction Reports (CTRs) as required.
• Coordinate AML/CFT training and awareness programs.

Policy & Regulatory Advisory:

• Review and update compliance-related policies and procedures.
• Provide compliance guidance to departments on operational and regulatory matters.
• Participate in product reviews and new business initiatives to ensure regulatory  compliance.

Regulatory Reporting & Liaison:

• Coordinate regulatory examinations and compliance reviews.
• Act as liaison between the Bank and regulatory authorities on compliance matters.
• Prepare and submit regulatory compliance reports as required.
• Ensure prompt resolution of regulatory observations and findings.

Consumer Protection & Ethical Conduct:

• Monitor adherence to consumer protection requirements and fair treatment of customers.
• Investigate compliance-related complaints and ethical concerns.
• Promote ethical business conduct and compliance awareness throughout the Bank.

Compliance Training & Awareness:

• Develop and implement compliance awareness programs.
• Conduct regular training on AML/CFT, KYC, regulatory requirements, whistle-blowing, data privacy, and ethical conduct.
• Foster a culture of compliance and accountability across the organization.

Governance & Board Reporting:

•  Prepare periodic compliance reports for Executive Management and the Board.
• Report significant compliance breaches and regulatory concerns promptly.
• Support Board Committees with compliance-related information and updates.

Requirements

• Bachelors Degree in Law, Banking & Finance, Accounting, Economics, Business Administration or related discipline
• 3-5 year experience in Compliance, AML/CFT, Internal Control, Risk Management, Audit or related function
• Experience performing above roles in a digital banking environment is important to being successful on this role
• Relevant Professional certification is an added advantage, CIBN (MCP) certification is important. Where not available, there must be commitment to certification within the first year of employment
• Strong knowledge of CBN regulations, AML/CFT laws, BOFIA, NDPR and microfinance banking operations
• Previous and proven usage of Microsoft office, accounting and core banking solutions is essential for the role holder
• Experience working with start-up is an advantage but not compulsory
• Excellent verbal and written communication and presentation skills are required

Application Closing Date
Not Specified.

How to Apply
Interested and qualified candidates should:
Click here to apply online