Assistant Director/Head, Risk and Compliance at FSD Africa

Job Description

Created in , FSD Africa is a £30 million financial sector development programme or ‘FSD’ based in Nairobi. It is funded by the UK Government’s Department for International Development (DFID). FSD Africa aims to reduce poverty across sub-Saharan Africa by building financial markets that are efficient, robust and inclusive.

OVERALL, JOB PURPOSE

Working with the relevant pillar heads, to ensure establishment of a business and operational compliance framework and system in line with best practice and regulatory guidelines. Ensuring that company policies and procedures are being followed, and that behaviour in the organization meets the Company’s Standards of Conduct

Develop and maintain the appropriate risk management framework and systems for both FSDAi and FSD Africa.

The job involves enterprise-wide coordination of identification and management of all risks and develop, maintain, manage, and execute a comprehensive process for identifying, assessing, mitigating, monitoring and reporting on risks that may impact on organizational performance.

KEY RESPONSIBILITIES AND ROLE REQUIREMENTS

Strategic Planning and Management

Participate in the design and implementation of pillar strategy and process to advise on aspects that will result in the implementation of a coherent Strategic plan that is relevant and achievable:

Undertake a review of the FSD Africa’s and FSDAi’ s operating environment and its corporate strategy to identify significant risk or opportunity exposures and advise the management and the board accordingly. Develop and integrate the risk management strategy within the organizational strategy Conduct strategic situational analysis and benchmarking against best practice and what other players are doing to assess appropriateness of FSD Africa’s risk management framework. Develop the functions and organizations risk strategy; researching and advising on updates in industry practices, policies, and risk awareness. Conduct strategic situational analysis and benchmarking against best practice and what other players Keep abreast with external events which could have a negative impact on the organisation and advise management with appropriate control measures.

Policies, Procedures and Systems

Lead the development and implementation of the organization’s risk management processes in order to minimize business risk:

Defines FSD Africa’s risk profile and risk appetite statement and put in place mechanisms for identification, assessment, measurement, mitigation and reporting risk exposures at all levels in the organization. Develops and implement a framework for ensuring continuity of business operations (Business Continuity Management framework- BCM) Oversees risk assessment assignments and development of risk registers to ensure they are carried out in line with FSD Africa’s risk management framework, work plans and generally accepted standards, and monitoring completion of assignments by the team. Takes the lead in identifying business risks within all process risks and follow up to ensure mitigation strategies are implemented. Preparing and presenting regular risk management reports to Management, FARC and relevant stakeholders including findings, risk positions and recommendations in line with the ERM framework, policies and procedures. Establish and maintain a risk management philosophy and culture through ERM awareness activities, understanding the risk maturity model, establishing risk appetite and tolerance levels, and participation in ERM activities. Manage the coordination of risk management with all assurance providers such as internal / external audit, compliance, and forensic functions.

Compliance and Controls

Ensure compliance in the organization by conducting regular assessments of compliance issues that will result in early address of the same:

Develop and review FSD Africa’s and FSDAi Risk and Compliance strategy ensuring that written policies outline specific standards and approved business practices and ensure that roles, responsibilities and business rules / guidelines are documented and that all FSDAi and FSD Africa’s policies should include all relevant legal and regulatory requirements. Develop an annual compliance workplan to evaluate services / providers to assess vulnerabilities to breaches of legal and regulatory standards by proactively identifying, measuring and assessing all the compliance and financial risks associated with the business including the development of new processes / services and business practices. Ensure that this is supplemented by a self-assessment program based on compliance standards and benchmarks embedded within FSD Africa’s and FSDAi Risk and Compliance programme. Coordinate independent compliance tests and BCM to detect and correct compliance and financial crime control weakness by employing a risk-based approach and placing emphasis on high risk areas. Ensure timely preparation an circulation of required periodic compliance reports to regulators, CEO, CIO, Management, FARC and the Board as appropriate. Maintain and regularly update a compliance issues database and compliance obligation registers for the various business units in line with the Compliance Framework and best practice principles, tracking closure actions and escalate long outstanding items to Management. Provide advisory and recommendations to the group on compliance matters towards advancing pillar / business objectives while meeting legal and regulatory requirements. Act as the compliance liaison contact with subsidiaries such as FSDA Contracting, FSD Ethiopia % adherence to relevant policies and procedures and statutory guidelines

Capacity Building

Contribute to strategic knowledge sharing and capacity building so as to raise awareness and importance of risk management within the organisation:

Promote a culture of risk-awareness and control across the organisation through sensitization and training. Develop and manage the implementation of a capacity building plan for risk and compliance. Formulate training programmes and conduct annual training for risk and compliance areas as well as additional training for areas with the greatest risk exposure and carry out periodic or one-off interventions to address compliance and controls knowledge transfer needs for each pillar or subsidiaries. Research and share any emerging trends in risk management and compliance globally.

Team Leadership

Lead the risk management team in a manner that empowers them to deliver FSD Africa’s goals, as well as provide high levels of (internal & external) customer service:

Strong relationships and communication with stakeholders to ensure client satisfaction with internal and external teams. Ensure high client satisfaction and that concerns are addressed, and expectations met. Plan and organise the work of the team to accomplish strategic and operational goals in the most cost-effective manner possible; ensuring that an appropriately sized team of competent staff are in place Provide leadership that ensures that departmental objectives are achieved efficiently and effectively, through inspiration, motivation and development of staff. Monitor and review performance and hold staff accountable for achieving results, meeting standards of excellence and delivering any improvement goals which have been identified; taking decisive action in the case of poor performance Carry out any other duties or special assignments as assigned by the Supervisor and or Board

PERSON SPECIFICATIONS

Qualifications and Education

Master’s degree and 11 years or bachelor’s degree and 12 years of experience Bachelor’s in commerce, Business , Law or related fields Postgraduate qualifications in Risk Management preferred. Professional qualification in risk related areas preferred. Excellent written and spoken English.

Essential Experience, Knowledge, and Skills

At least 11/12 years of experience in a similar role with a reputable medium to large organization in financial services or related industry Excellent grasp of ERM principles and philosophy

Desirable

Experience of working in a multi-cultural environment Good communication and relationship building skills Knowledge of donor policies and procedures Previous experience of working in FCDO-funded projects Languages: French, local African languages