Manager Compliance/ Money Laundering Control Officer Jobs – Yako Bank (U) Limited

Posted by

ugashare-Volunteer

Posted date: 2025-Mar-21

Location: Kampala, Uganda

Job Title: Manager Compliance/ Money Laundering Control Officer

Organisation: Yako Bank (U) Limited

Duty Station: Kampala, Uganda

About Yako:

Yako Bank (U) Limited was incorporated in the Republic of Uganda in 2010 and licensed as a Credit Institution by Bank of Uganda in 2020. In September 2015, Yako got its license to operate as a deposit taking institution and started operations under the name Yako Microfinance (U) Limited. It upgraded to a Credit Institution in 2020 and was licensed to operate as Yako Bank (U) Limited. Yako Bank is owned by different shareholders and has been licensed by Bank of Uganda to provide savings and lending products to different clients.

Job Summary: The overall responsibility of Manager Compliance is to assist the bank in identifying, assessing, monitoring and reporting on, compliance risk in matters relating to the bank, its operations and personal conduct. Additionally, the head of compliance shall be responsible for reporting to the Financial Intelligence Authority all matters related to money laundering and combating financing of terrorism in accordance with Anti Money laundering Act 2013.

Key Duties and Responsibilities:

Monitoring compliance with the internal policies, procedures and guidelines relating to compliance, including testing and checking the functionality, efficiency and adherence of established policies;
Providing for training on compliance issues in order to advance awareness of integrity issues and business ethics by arranging training workshops as needed and by acting as a contact point for queries from staff members;
Reporting on governance including the corporate governance statement and the sustainability
reporting of the Bank as well as contributing to the disclosure policies of the Bank;
Providing comments on, policies, guidelines, rules and procedures for compliance issues.
Ensuring that the compliance department delivers compliance standards deliverables as required.
Managing the regulatory change process and advising the business of any significant changes
Ensuring Compliance alerts are circulated to the business on schedule
Tracking and providing investigative support on the Whistleblowing concerns to completion
Ensuring all bank policies are up to date by seeking quarterly report from the Risk Manager who is the custodian of all the policies and manuals.
Plan and execute compliance programs in all Yako Bank branches and departments.
To apprise the board as well as senior management on regulations, rules and standards, and any other further developments in the industry by carrying out research.
To provide clarification on any compliance issues, that may a raise in day today activities of the bank.
To conduct the assessment of the compliance risk, which should be at least quarterly, and develop a risk-oriented activity plan for compliance assessment. The activity plan has to be submitted to the Audit Committee of the Board for approval, and it should be made available to the internal audit.
To report promptly to the Board / Audit Committee of the Board/ Managing Director and Executive Director about any major changes or observations related to the compliance risk.
To report quarterly on the compliance failures or breaches to the board/ Audit Committee of the Board and circulating findings to the concerned functional heads monthly.
To monitor and periodically test compliance by conducting sufficient and representative compliance testing. The results of the compliance testing must be placed on the Board/ Risk Committee and Managing Risk Committee quarterly and monthly.
To examine the sustenance of the compliance as an integral part of the compliance testing and annual compliance assessment exercise.
To ensure the compliance of supervisory observations made by Bank of Uganda, external auditors and or any other directions are rectified in a time-bound manner and sustainable manner.
Taking lead in staff trainings and mentoring departmental team members on statutory, internal polices and industry best practice requirements.
Develop the bank’s compliance framework and ensure that it is consistent with the governing laws,
Code of Ethics and professional conduct. Liaise with relevant external stakeholders and participate in industry compliance forums to ensure alignment of Yako’s compliance methodology.
Conduct follow-up on the resolution of any identified compliance findings in Bank of Uganda examination reports, internal and external audit reports and oversee the implementation of corrective measures to mitigate the identified deficiencies
Ensure submission of returns to B.O.U, FIA, URA, NSSF and other external stakeholders is timely and accurate.
Monitor, review and supervise the day today operation function at the head office a branch, in particular (bank transactions)
To centralize all information on compliance related issues within Yako for access by all staff
Ensure that new compliance circulars/directives/guidance notes are distributed to the relevant Yako personnel and appropriate action taken.
Advising Senior Management on relevant laws, rules, regulations, standards, recommendations and practices in the market place.
To align AML/CFT/CPF efforts of the Bank, regulatory and international standards/requirements and best practice to prevent the Bank’s risk of sanctions and associated financial/reputational loss as a result of non-compliance.
To develop and implement a compliance framework that constantly updates the Bank on its compliance levels with regulatory laws/standards
To provide compliance advisory and decision support services to business units and strategic resources function so as to build a strong KYC environment to ensure Zero AML/CFT/CPF infractions
Develop and implement appropriate AML/CFT/CPF sanctions and financial crime prevention policies, procedures, systems and controls and ensure compliance with Anti-Money Laundering and Combating the Financing of Terrorism (AML/CFT/CPF) standards across the Bank.
Develop and implement monitoring tools/ standards/Measures to ensure compliance with AML/CFT/CPF laws and best practice.
Design and implement compliance sensitizations/trainings in regard to AML and /CFT programs/plans for staff and service providers employees with
Develop and implement channels for internal and external reporting of suspicious activity /transaction such as internal whistle blowing in line compliance reporting framework.
Prepare, submit and present periodic (Monthly/Quarterly/Annual) compliance reports/information (Exceptions, suspicious transactions, large cash transactions etc.) to management, Board of directors and regulatory bodies (Internal and External) to enable informed decisions.
Co-ordinate AML/KYC routine examination as per Regulator’s examination timetable/schedule as well as managing the Bank’s relationships with regulators in relation to compliance issues.
Enhance staff productivity by providing to-to-day technical guidance and support to the teams as well as monitoring the team’s daily activities with continuous feedback for improvement in line with the Yako policies.
Develop a timetable for the administration of compliance assessments and questionnaires in line with the compliance work plan.

Qualifications, Skills and Experience:

The incumbent should hold a Bachelor’s degree from a recognized university and professional training relevant to the role.
A post graduate qualification is added advantage.
Overall experience of minimum 10 years in banking or Financial Institution, and of which minimum 5 years will be in (related function) that is Audit/Finance/ Compliance/ Legal/ Risk Management functions in a senior management role;
Excellent knowledge of financial institutions.
Understanding KYC requirements
Then ideal candidate must have no vigilance case or adverse observation from the regulator pending against him/her
Excellent interpersonal skills and communication skills.
Analytical mind, good attention to detail, problem solving, good time management skills and the ability to multi-task work under pressure
Proficiency in computer applications
Teamwork

How to Apply:

Suitably qualified candidates should address their application to Human Resource & Administration Manager, Yako Bank, Forest Mall Lugogo, Kampala, Uganda, and email it to [email protected] as well as photocopies of academic testimonials, and a CV. The CV should include telephone contacts and email addresses of three referees, one of who should be the most recent employer.

Deadline: 5th April, 2025.

NB: Only shortlisted candidates will be contacted directly on Tel. Numbers 0312 222600 or 0414 341275 ONLY. Please note that in line with the Bank procedures, no job offers are made online.

Organization:

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Date Posted	2025-03-21T09:17
Valid Through	2025-04-06T00:00
Employment Type	FULL_TIME
Hiring Organization	Yako Bank
Job Location	Kampala, Kampala, Kampala , 0256, Uganda

Manager Compliance/ Money Laundering Control Officer Jobs – Yako Bank (U) Limited

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