Head of Compliance

Responsibilities:

• Develop, implement, and periodically review the Bank’s compliance policies, procedures, and framework in line with applicable laws, CBN regulations, and other relevant regulatory requirements.
• Monitor the Bank’s compliance with statutory obligations, regulatory directives, internal policies, operational procedures, and industry standards.
• Provide legal and regulatory advisory services to the Managing Director, management team, and Board on compliance-related matters.
• Coordinate compliance reviews, risk assessments, internal control monitoring, and regulatory compliance audits, ensuring that identified gaps are addressed promptly.
• Ensure timely preparation and submission of regulatory returns, reports, and other statutory filings to the CBN and relevant authorities.
• Oversee compliance with applicable Anti-Money Laundering and Counter-Terrorist Financing (AML/CFT) requirements, Know Your Customer (KYC) procedures, sanctions screening, and suspicious transaction reporting obligations.
• Monitor changes in applicable laws, regulations, and regulatory guidelines and advise management on their implications for the Bank’s operations.
• Liaise with regulatory authorities, external auditors, legal advisers, and other relevant stakeholders on compliance matters.
• Develop and implement compliance awareness programmes and training for employees to promote a strong culture of regulatory compliance and ethical conduct.
• Maintain appropriate compliance records, registers, and documentation for regulatory inspections and internal reviews.
• Lead, supervise, and develop the compliance team, ensuring effective performance and continuous improvement.
• Escalate material compliance breaches, regulatory risks, and control weaknesses to the appropriate management and governance structures.

Requirements:

• A Bachelor of Laws (LL.B.) degree or a degree in social sciences from a recognised university or polytechnic.
• Relevant professional training or certification in compliance, AML/CFT, MCIB, risk management, or corporate governance will be an advantage.
• A minimum of 6 years’ relevant professional experience in regulatory compliance, risk management, or a related field, preferably within a bank, microfinance bank, or other regulated financial institution.
• Demonstrable knowledge of CBN regulations, Nigerian financial services laws, corporate governance, and regulatory compliance requirements.
• Practical experience in compliance monitoring, regulatory reporting, policy development, and engagement with regulatory authorities.
• Experience in leading or supervising a compliance function will be an added advantage.

Key Skills and Competencies:

• Strong legal research, interpretation, analytical, and problem-solving skills.
• A sound understanding of banking regulations, AML/CFT requirements, KYC standards, and relevant compliance frameworks.
• Excellent written and verbal communication skills, including the ability to prepare clear regulatory reports and management briefs.
• Strong leadership, organisational, and stakeholder management skills.
• High levels of integrity, professionalism, confidentiality, and attention to detail.
• The ability to exercise sound judgement, manage competing priorities, and meet regulatory deadlines.
• A proactive approach to identifying compliance risks and recommending practical solutions.