Compliance Officer

The Compliance Officer at Bank of Africa Kenya is responsible for upholding the bank's adherence to both internal policies and external legal frameworks. This encompasses regulations related to customer due diligence, anti-money laundering (AML), countering the financing of terrorism (CFT), and countering proliferation financing (CPF). A primary function of this position is to manage and mitigate financial crime risks, specifically those linked to money laundering, terrorism financing, proliferation financing, and ensuring compliance with international financial embargoes and sanctions. The role involves continuous monitoring, reporting, and advising on compliance matters to safeguard the bank's operations against financial illicit activities.

1. Ensure regulatory and statutory compliance, including timely submission of reports to regulators.
2. Guarantee adherence to due diligence and KYC requirements based on regulatory standards and international best practices.
3. Communicate and implement new or amended relevant laws and regulations.
4. Continuously review and update the bank's internal blacklist.
5. Periodically review the compliance risk management policy and other related policies and procedures.
6. Cooperate fully with regulators and law enforcement by providing necessary documents and information.
7. Monitor media daily for information on high-risk customers or those with adverse information.
8. Identify, report, and escalate new trends and typologies in the legislative and regulatory environment, product issues, or risks.
9. Perform daily monitoring, screening, and blacklisting of alerts from various systems and manual processes.
10. Follow up on alerts from the AML monitoring tool, conducting comprehensive analysis and documenting findings.
11. Obtain and review supporting documentation or explanations for suspicious transactions flagged by automated systems.
12. Conduct comprehensive analysis, documentation, and treatment of AML screening alerts.
13. Review database screening alerts thoroughly.
14. Analyze potential money laundering, terrorism financing, and proliferation financing risks associated with customers, products, jurisdictions, and delivery channels by reviewing newly opened accounts daily.
15. Screen and quality review customer-initiated transactions (e.g., transfers, large cash transactions) to ensure AML, KYC, CFT, and CPF compliance.
16. Conduct first-level review of suspicious transaction reports from AML tools or staff, escalating to the MLRO for concurrence.
17. Accurately and promptly file suspicious transaction reports with relevant authorities.
18. Identify and report suspicious transactions or activities.
19. Maintain records related to AML.
20. Participate in research on compliance matters and provide expert advice to stakeholders.
21. Prepare regular reports (weekly, monthly, quarterly, annually) from AML tools for MLRO, group, and senior management.
22. Ensure timely submission of regulatory reports to CBK, FRC, and other internal reporting requirements.
23. Participate in the bank’s AML, CFT, CPF programs through training, attestations, and compliance questionnaires.
24. Actively engage in Compliance projects, assist in testing new systems, and handle ad-hoc tasks and special projects for the MLS unit.

1. Hold a university degree in Business, Economics, or a related field from a recognized institution.
2. Possess a minimum of 3 years of banking experience in a compliance or risk department.
3. Demonstrate a strong understanding of bank policies, procedures, and external regulations.
4. Exhibit expertise and in-depth knowledge of Anti-Money Laundering (AML), Countering the Financing of Terrorism (CFT), Countering Proliferation Financing (CPF), and Know Your Customer (KYC) controls.
5. Have a good understanding of Central Bank Prudential guidelines, the Proceeds of Crime and Anti-Money Laundering Act (POCAMLA), Basel Rules, the Banking Act, IFRS, and other relevant banking statutes.
6. Show proven knowledge and understanding of the current banking and financial services operating environment, industry trends, regulatory and governance guidelines, and applicable laws.