Head of Risk Management and Compliance

NIC Bank Tanzania is a Commercial Bank licensed by Bank of Tanzania to carry on banking business across a network of Branches.

NICBTZ is looking for committed, self-driven, dynamic and competent qualified candidates to fill the following vacancy;- Head of Risk Management and Compliance

Reporting: Managing Director and Board Risk Management Committee

Principal Purpose:
To support the BRMC and Managing Director, in developing and implementing an integrated Bank Risk Management Framework that manages its strategic, tactical and operational objectives in a controlled environment with balanced risk portfolios and ensuring the Bank is rewarded appropriately for those risks.

Key Responsibilities:
• Comprehensively list key risks identified through independent reviews of the business/support functions, & internal/external/BOT audits of the Bank
• Highlight significant co-relationships between key risks
• Develop, get approved' & implement appropriate management dash-boards/traffic lights, stages & absolute tolerance levels/limits for key risks
• Develop and implement appropriate measurement metrics, models & MIS for each key risk and comparisons to industry best practice
• Review & update relevant measurement metrics/models in line with the dynamic external & internal environments
• Provide appropriate M.IS (including their quantum, direction & trends) to Senior Management and BRMC for review and action
• Periodically track actual & trend analysis of key risk measurement results against approved tolerance levels.
• Extract exceptions from the measurement results, agree & set mitigation strategies for the-key risks identified (ie. accept but limit, transfer/insure, avoid where tolerance is NIL, accept where minimal).
• Follow up for implementation of corrective action on exceptions to approved tolerance levels
• Review major changes in markets, products, business lines, processes, technology, amongst others, ensuring compliance to approved tolerance levels before roll-out
• Periodically report the Bank's risk profile using approved MIS, Metrics & Models
• Report all exceptions of approved risk tolerance levels to BRMC/Senior
• Management while outlining the agreed corrective actions & their implementation timelines
• Confirm corrective actions attained to close risk gaps
• Provide appropriate feed-back to the Board Audit & Compliance
• Committee for an effective control environment during audit programs implementation
• Develop an appropriate and Regulator/Basel Accord compliant ICAAP.
• Implement the ICAAP (including a Stress Testing) model to arrive at appropriate minimum Economic Capital levels for the Bank
• Periodically & continuously test/review the ICAAP to ensure it provides acceptable buffers to key risk shocks
• Develop & continuously review the relevant Key Risk Policies as required by regulators/Basel Accord/ERM,
• Continuously review all new & existing Bank operating
• Policies/Procedures for their control appropriateness with relation to approved tolerance levels
• Develop, implement & continuously review an appropriate Compliance
• Risk Management structure, policies and processes covering legal/regulatory, policies, ethical/code of conduct standards for the Bank
• Develop and implement KYC, AML, Suspicious Transactions, Legal/Regulatory and Policy Compliance functional tasks
• Develop and implement periodic compliance plans and train/create awareness, test, review plus report to ensure this risk is managed appropriately
• Liaison with Correspondent Banks and other counterparty relationships for KYC/AML and managing queries or issues raised therein
• Review emerging legal/regulatory requirements and counsel/train the relevant business or support functions to create awareness and strategies/policies/processes ensuring timely compliance to envisaged legal changes,
• Liaison with regulators for purposes of External Audit Reviews,
• Compliance Reporting and supervise the follow-up of corrective compliance actions by business & support units on issues highlighted by regulators.
• Develop, implement & review an appropriate Risk Management & Compliance structure that adequately captures and controls the Bank's key risks through an acceptable Risk Management Framework
• Train & create staff awareness to departmental and Bank staff on acceptable risk & compliance practices/cultures while ensuring compliance to approved policy and regulatory tolerance levels
• Supervise, coach and mentor staff reporting to this function

Qualifications, Knowledge and Experience
• Degree in Business Management: Accounting Economics, Commerce, and Finance or related fields (MBA will be an added advantage)
• Qualifications in Risk Management. Credit Management, Treasury Management, Operational Risk Management, Compliance Risk Management, and related fields will be an added advantage.
• Over 10 years of all-round working experience in a banking environment at risk, corporate audit, credit management, central operations, treasury, amongst others,5 of which must be at senior management level and in particular credit, operations and treasury functions.
• In depth understanding of the workings in various functions of the Bank's set up ie. full Credit Management process, Branch & Central Operations, Trade Finance, Treasury Management (front, middle & back-office), Credit Operations (incl. Securities & Credit Administration), Capital/Money Markets & Insurance Fields.
• Ability to analyse, interpret and draw conclusions! recommendations based on financial statements while combining this with other strategic, tactical and 6perational data or analytical information on the Bank

Remuneration
NIC Bank Tanzania an equal opportunity employer. The Bank offers an attractive remuneration package, career development opportunities and an excellent working environment.


How To Apply:
Application letter with detailed curriculum vitae must be sent by email to careers@nicgroup.com before 3rd November 2017.

Regulated by Bank of Tanzania NIC Bank Limited is a wholly owned subsidiary of NIC Bank Group Plc.