To provide advisory to the business and ensure that all operations of the Company are run in accordance with existing laws and regulatory guidelines.
Functions & ResponsibilitiesStaying abreast of the regulatory environment to obtain and decipher extant and evolving laws, regulations and/or guidelines to the businesses applicable to the business. Managing compliance in the organisation to the extent of reviewing, interpreting, and communicating relevant regulations to enable the company and its employees to operate in compliance with relevant regulatory obligations guiding our industry and are not found culpable for breaches. Providing corrective advisory for identified potential vulnerable areas of compliance risk and for the resolution of problematic issues as well as providing general guidance on how to avoid or deal with similar situations in the future. Developing and periodically reviewing, updating and disseminating the relevant policies dashboard and/or report templates to the business owners to ensure conformity with current regulatory requirements. Conducting regular compliance gap analyses to identify the compliance level of the organisation and communicating findings to process owners for resolution. Coordinating, supervising, reviewing and evaluating the activities of the SDOs with respect to their assigned compliance obligations to assist them remain abreast of requirements, trends and ensure that compliance issues/concerns within the organization are appropriately managed. Liaising with the Learning & Development Unit to develop and implement effective company-wide.. AML/CFT training programmes, including appropriate onboarding presentations for new employees. Providing regular management reports, and as directed or requested, to keep the Board and Senior Management informed of the operations and progress of all compliance efforts, achievements, and concerns. Acting as the principal point of contact between the company and regulatory agencies and responding to all government investigations, enquiries and authorized requests on issues relating to regulatory compliance. Processing and obtaining prescribed statutory approvals for branches, branch managers, senior management and other principal officers, adverts and publications from NAICOM. Representing the company, alongside other internal stakeholders, in the Risk, Audit & Compliance Committee of the Nigeria Insurers Association Coordinating and ensuring that all relevant returns to the various regulatory and other relevant government agencies like NAICOM, SEC, NSE, NFIU, CAC, FRC, etc. are submitted/rendered. Ensuring queries from these agencies, where applicable, are responded to in a timely manner. Screening list of prospective customers as provided by the business to determine their political exposure, risk profile and/or sanction listing status. Working with other departments to ensure that compliance issues are fleshed out, investigated, and resolved.
Core CompetenciesRegulatory interpretation Risk Mitigation. Training. Change management. Stakeholder engagement. Critical thinking.
Functional CompetenciesTechnical competencies for risk management Analytical Communication. Creative. Subject matter expertise Teamwork/Collaborations
QualificationsHND/B.Sc./B.A./LL. B Membership of CIN, ACAMS [as an added advantage] 3 â 5 years as a Compliance or Compliance& Legal officer in an insurance coy
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