Chief Compliance Officer

Key Responsibilities

1. Compliance Framework and Regulatory Governance

• Develop, maintain and continuously improve the Bank's compliance framework, policies, procedures and regulatory obligations register.
  
• Monitor changes in applicable laws, regulations, CBN directives, NDIC requirements and other regulatory expectations and advise Management on their implications.
  
• Conduct periodic compliance assessments across the Bank's business and operational functions.
  
• Identify regulatory compliance gaps and recommend appropriate corrective actions.
  
• Maintain appropriate documentation and evidence of compliance activities.
  
• Provide independent compliance advice to Management and the Board on material regulatory matters.
  

2. AML/CFT and Financial Crime Compliance

• Lead the Bank's AML/CFT compliance framework in accordance with applicable regulatory requirements.
  
• Establish and maintain appropriate controls for identifying, assessing and managing money-laundering and terrorist-financing risks.
  
• Oversee transaction monitoring and ensure unusual and potentially suspicious activities are appropriately reviewed and escalated.
  
• Coordinate the investigation and reporting of suspicious transactions and other reportable activities to the appropriate authorities.
  
• Maintain appropriate AML/CFT records, documentation and reporting processes.
  
• Monitor the effectiveness of the Bank's financial crime controls and recommend enhancements where required.
  

3. KYC and Customer Due Diligence

• Establish and enforce appropriate customer identification and verification standards.
  
• Oversee the Bank's KYC and customer due diligence framework across all customer segments and channels.
  
• Ensure enhanced due diligence is applied to higher-risk customers, relationships and transactions.
  
• Monitor the completeness, accuracy and currency of customer information and documentation.
  
• Conduct periodic reviews of customer risk classifications and due diligence requirements.
  
• Work with Operations, Business and Risk to address KYC deficiencies promptly.
  

4. Sanctions, PEP and Screening Controls

• Oversee sanctions, politically exposed persons and other relevant customer screening processes.
  
• Ensure appropriate escalation and investigation of potential screening matches.
  
• Maintain effective procedures for reviewing and resolving sanctions and PEP alerts.
  
• Monitor the effectiveness of screening systems and controls.
  
• Ensure compliance with applicable sanctions and regulatory requirements.
  

5. Regulatory Reporting and Liaison

• Prepare, review and coordinate timely submission of compliance-related regulatory returns and reports.
  
• Maintain a regulatory reporting calendar and ensure all compliance submissions are completed within prescribed timelines.
  
• Serve as a principal compliance contact for regulators, working alongside the MD/CEO and other relevant executives.
  
• Coordinate responses to regulatory enquiries relating to compliance and AML/CFT matters.
  
• Support regulatory examinations and ensure identified compliance issues are appropriately addressed.
  

6. Compliance Monitoring and Testing

• Develop and implement a risk-based compliance monitoring programme.
  
• Conduct periodic reviews and testing of business processes, customer files, transactions and regulatory controls.
  
• Identify compliance breaches, control deficiencies and emerging regulatory risks.
  
• Escalate material compliance issues to Management and, where appropriate, the Board.
  
• Track remediation of compliance findings to closure.
  
• Maintain an appropriate record of compliance incidents, breaches and corrective actions.
  

7. Compliance Training and Awareness

• Develop and deliver regular compliance, AML/CFT and regulatory training programmes for employees.
  
• Ensure employees understand their responsibilities regarding KYC, AML/CFT, sanctions, customer protection and regulatory compliance.
  
• Maintain training records and monitor completion rates.
  
• Provide targeted training where specific compliance weaknesses or regulatory changes are identified.
  
• Promote a culture of regulatory compliance and ethical conduct throughout the Bank.
  

8. Product and Business Advisory

• Advise Management and business functions on the regulatory implications of new products, services, digital channels and partnerships.
  
• Review proposed products, customer journeys and third-party arrangements from a compliance perspective.
  
• Participate in relevant product and technology development processes to ensure compliance considerations are incorporated from inception.
  
• Provide practical recommendations for managing regulatory risks without unnecessarily restricting legitimate business activities.
  

9. Management and Board Reporting

• Provide regular compliance reports to the MD/CEO and relevant Board committees.
  
• Report significant compliance breaches, AML/CFT risks, regulatory developments and unresolved issues promptly.
  
• Present compliance trends, monitoring results and remediation status to Management and the Board.
  
• Provide recommendations for strengthening the Bank's compliance environment.
  

Requirements

First degree in Law, Accounting, Finance, Economics, Banking, Business Administration or another relevant discipline.

Professional certification in compliance or AML/CFT, such as CAMS or an equivalent recognised certification, is desirable.

CIBN membership or relevant professional banking certification is an advantage.

A relevant postgraduate qualification is an added advantage.

Experience

Minimum of 10 years' relevant professional experience, with at least 3 years in a senior compliance, regulatory, AML/CFT or financial crime role within financial services.

Experience in a Microfinance Bank, commercial bank, fintech, payments institution or other regulated financial institution is strongly preferred.

Demonstrable experience in AML/CFT, KYC, transaction monitoring, regulatory reporting and regulatory examinations is required.

Core Competencies

• AML/CFT and financial crime compliance
  
• KYC and customer due diligence
  
• Transaction monitoring and investigations
  
• Sanctions and PEP screening
  
• Regulatory interpretation
  
• Compliance monitoring and testing
  
• Regulatory reporting
  
• Risk assessment and control evaluation
  
• Investigative rigour and attention to detail
  
• Regulatory stakeholder management
  
• Ethical judgement and professional integrity
  
• Clear communication and advisory skills
  

Performance Measures

• Timely and accurate submission of regulatory and AML/CFT-related reports.
  
• Effective KYC and customer due diligence compliance across the customer base.
  
• Timely identification, investigation and escalation of suspicious activities.
  
• Completion and effectiveness of AML/CFT and compliance monitoring programmes.
  
• Compliance training completion and employee awareness levels.
  
• Timely closure of compliance findings and identified regulatory gaps.
  
• Effective management of regulatory examinations and compliance requests.
  
• No material regulatory sanctions attributable to preventable compliance failures.
  
• Effective implementation and continuous improvement of the Bank's compliance framework.
  

Benefits

An opportunity to establish and lead a critical compliance function within a growing Microfinance Bank, with significant responsibility for regulatory compliance, AML/CFT, customer protection and the preservation of the Bank's regulatory standing. The role offers broad exposure to financial services regulation and executive decision-making, together with a competitive compensation package aligned with the responsibilities and importance of the position.