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Job Summary

The purpose of a Bank Compliance Officer is to ensure that the bank is adhering to all applicable laws, regulations, and policies. This involves monitoring the bank’s activities, identifying any potential risks or compliance issues, and taking corrective action to ensure that the bank is compliant with all relevant legal and regulatory requirements.

  • Minimum Qualification: Bachelors
  • Experience Level: Entry level
  • Experience Length: 2 years

Job Description/Requirements

Organization: Yako Bank
Duty Station: Head Office (Kampala), Uganda
Reporting to: Manager Compliance

About :Yako Bank (U) Limited was incorporated in the Republic of Uganda in 2010 and licensed as a Credit Institution by the Bank of Uganda in 2020. In September 2015, Yako got its license to operate as a deposit taking institution and started operations under the name Yako Microfinance (U) Limited. It upgraded to a Credit Institution in 2020 and was licensed to operate as Yako Bank (U) Limited. Yako Bank is owned by different shareholders and has been licensed by the Bank of Uganda to provide savings and lending products to different clients.

Job Summary: The purpose of a Bank Compliance Officer is to ensure that the bank is adhering to all applicable laws, regulations, and policies. This involves monitoring the bank’s activities, identifying any potential risks or compliance issues, and taking corrective action to ensure that the bank is compliant with all relevant legal and regulatory requirements. The Compliance Officer is also responsible for implementing internal controls, providing guidance and training on compliance matters, and conducting internal audits to ensure that the bank is meeting its compliance obligations.

Key Duties and Responsibilities:
• Responsible for supporting the achievement of profitability of Yako Bank through management of set departmental objectives.
• Support the identification of compliance obligations for each department of the Bank and offer time compliance review support.
• Develop plans to proactively address any potential regulatory compliance risk, periodically independently review the Bank process to identify any weaknesses in the regulatory compliance, escalate identified gaps to the manager compliance, and follow up with process owners to close the gaps noted.
• Support the establishment of the complete compliance scope for the Bank based on applicable laws, regulations policies, agreements, and standards guidelines and aim at achieving 100% compliance.
• Support the development and delivery of compliance risk training programs across the bank to the standards defined by Yako Bank.
• Prepare periodic reports to regularly update business units and senior management and regulatory compliance exposures
• Conduct reviews of all policies guidelines and procedures that provide direction on processes within the business units and follow up to implement approved changes to rationalize procedures and improve internal control standards.
• Developing, implementing, and monitoring the Compliance agenda of the Bank in line with Laws, Regulations, Prudential Standards, and Internal Policies and Procedures.
• Implementation of Internal and External Audit Recommendations, Bank of Uganda Directives, and Board of Directors Resolutions.
• Support the head of the department in acting as a Money Laundering Control Officer for Yako Bank when needed.
• Assist in gradually establishing a more systematic approach to qualitative risk self-assessment factors and quantitative key risk indicator (KRI) loss data collection and analytics
• Develop and monitor the bank’s weighted compliance score and participate in the implementation of the model within the Bank.
• Develop in-house training modules for training on AML/CFT/CPF and KYC compliance
• Help plan and organize various in-house trainings and update training modules in line with the recent developments and changes in laws for the banking industry.

Qualifications, Skills, and Experience:
• Minimum of a Bachelor’s degree in law, business management or similar field
• Minimum of 2 years hands on experience as a compliance officer in a bank or financial institution
• Must have previous exposure working in frontline banking operation
• Strong knowledge of legal requirements and controls
• Excellent verbal and written communication skills
• Excellent analytical skills
• Excellent risk management skills
• Ability to work well in a team environment
• Highly developed sense of ethics

Application procedure
All interested and qualified candidates should submit applications along with their CVs and academic documents online through hr@yakobank.com. The deadline is Friday 14th June 2024

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