Senior Manager - Compliance and Internal Control.Fintech Operations

Core Purpose Of The Job:

The Senior Manager: Risk, Compliance and Internal Controls is responsible for developing, monitoring and managing an effective Risk and AML/CFT Compliance program across the OpCo. The role is also responsible for leadership in all aspects of risk including the embedding of a risk culture and risk training/awareness at all levels within the Opco. The role leads teams across the below two sub functions:

• Compliance and Internal Controls 
• Risk Management

The role entails working under the guidance of Group GM Risk and Compliance and maintains regular liaison with Group Fintech Risk & Compliance team. The Manager Ethics, Risk and Compliance reports to FinCo CEO and is supported by Managers and Specialists.  

In addition, this role will collaborate with the regulatory function, including strategic and operational oversight of regulatory activities, subject matter expertise with regard to interpretation of legislation, providing regulatory guidance and will be the primary point of contact for regulators.

Context

Fintech is entering a new phase where operational and commercial excellence has become critical for success. A separate Company has been set up to drive financial products and services to expand the reach and speed of operations. There is an increased focus in the commercial areas, new products and services and scaling up of Digital capabilities. The incumbent must therefore ensure the successful delivery in context of:

• An expertise-based multicultural Fintech organisation 
• A dynamic and evolving field of Fintech/Financial Services industry
• Revolutionary workforce practices which are bringing together global labour markets
• Convergence in markets and exploration of non-traditional revenue streams require complex interpretation and structuring
• Evolving industry sector constantly presenting new challenges and opportunities to the core businesses
• Agile ways of working

Key Performance Areas / Essential Responsibilities 

Key Deliverables

The Senior Manager: Risk, Compliance and Internal Controls will be accountable to achieve the following objectives:

Strategy Development and Implementation

• Abide by the Group strategy and assist in the creation of the OpCo functional strategy aligned with the overarching business goals, under direction from the CEO
• Ensure effective implementation of the functional strategy 
• Assist in review of the OpCo functional strategy and roadmap, under direction from the CEO, to ensure its alignment with the changing dynamics of the internal and external ecosystem

Staff Leadership and Management

• Source, induct and manage talent in accordance with legislative guidelines and directives from the CEO/Group
• Continually develop a culture of strong collaboration and effective team working
• Ensure open communication channels with staff and implement change management interventions when required, and under supervision from the CEO
• Provide definition of roles, responsibilities, individual goals and performance objectives for the team
• Set KPIs and provide regular performance feedback through a well-defined and implemented performance review program
• Assist in the development and implementation of a training plan in order to build and develop skills within the team
• Performance manage resources in accordance with HR policy and legislation where necessary
• Promote a ‘Fintech centric’ and ‘partnership approach’ to develop strong relationships with other working groups and ensure adherence to Group governance

Governance

Strategic Meetings

• Participate in strategic meetings
• Support OpCo wide transformation initiatives. Elicit inputs from relevant parties, when required
• Implement adequate risk mitigation and controls, with directions from the CEO and Group team
• Perform evaluation baseline of Service Level Agreements (SLAs) and KPIs
• Manage approval process from CEO/Group on new initiatives
• Work with approved budget for internal projects, under direction from the CEO. Where required, also provide input
• Facilitate preparation of proposal on change initiatives SLA, policies and procedures

Escalations

• Escalate issues that will result in severe time, scope, productivity, and cost or resource impact to CEO / Group team
• Manage and provide solutions to escalations that have multiple processes / functions impact on critical path of service delivery, keeping CEO apprised of the same

Function Tactical

• Provide inputs, when required, and execute all projects initiated in the function
• Assist in establishing objectives, targets and budgets for the function
• Identify and document key risks, issues and dependencies and set mitigation actions, with guidance from the CEO
• Prepare documentation for sign-off / making decisions regarding tactical changes; apprise CEO of changes made without approval

Performance

• Monitor performance and alignment with divisional strategy
• SLA approval and exception performance review 

Reporting

• Report on a bimonthly / monthly basis to the CEO relating to progress made within the function and in accordance with the measurement metrics set by the organisation
• Report on an ad hoc basis on specific projects, as required

Budgets

• Assist in managing function’s budgets in line with business objectives, when required
• Assist in managing project initiative budgets in line with business objectives, when required

Operational Delivery

Functional Leadership:

As the functional leader of the AML, Ethics, Risk and Compliance vertical, the role is accountable to:

• Align the results of the Ethics, Risk and Compliance vertical, collectively and as individual work areas in the OpCo, ensuring that the Group guidelines are duly complied with
• Measure the impact and benefit of the function to OpCo and in turn, Group FinCo and report the true-value metrics. Drive continuous improvement across all verticals 

Delivery Leadership:

As the delivery leader of the Ethics, Risk and Compliance vertical, the role is accountable for the following work area outcomes:

Strategy & Analytics, Budgeting, Data and Reporting

• Implement & execute policies, procedures and guidelines set forth by group AML, Ethics, Risk and Compliance teams and ensure the team complies with the same
• Implement governance to manage the consolidated OpCo AML, Ethics, Risk and Compliance strategy, budgets and financials, under direction from the OpCo CEO
• Cascade the Group Fintech budget, analytics and reporting framework in the function, under direction from the OpCo CEO
• Deliver results under the guidance of the Group GM Risk & Compliance, abiding by all the set directives and regularly reporting compliance

Operations

• Implement the Risk management Framework in the OpCo to effectively manage all risk exposures (opportunity, hazard, uncertainty etc.) that pose an internal or external threat (political, economic, financial, market, international) to the business, its people and assets
• Manage compliance to all applicable laws and regulations and a common set of policies and procedures
• Build a risk-aware culture in the OpCo by providing ongoing education and raising awareness
• Manage the OpCo Ethics Management program to ensure that the company conducts business in an ethical and socially responsible manner
• Manage development and execution of AML/CTF and Compliance initiatives and programs to comply with the legal, regulatory and licensing requirements. Ensure that all AML/CTF incidents are duly recorded and reported and proactive monitoring is undertaken to prevent any future threats. 
• Coordinate the institution’s Anti Money Laundering (AML) activities in respect of mobile money services by ensuring strict adherence to the Money Laundering & Financing of Terrorism Act and requirements thereof by all Employees, Agents and Customers. 
• Undertake interactions with in-country bank/s and business and report on all issues relating to money laundering and terrorist financing; where required, seek assistance from CEO as well as group team
• Manage business operations and ensure full adherence to financial process for reconciliation and settlements
• Provide recommendations to enhance the company's Risk and Compliance Management's road-map, policy, framework, methodology and system
• Undertake and monitor results from periodic business resilience testing to ensure that the business continuity is protected from all external and/or internal disruptions
• Additionally, ensure that business continuity and disaster recovery plans are regularly reviewed and updated, such that they cover a wide array of business disruption risks
• Manage identification and resolution of all fraud risks, ensuring that the fraud related incidents are duly recorded and reported. Additionally, support the BankTech product segment with specialized fraud prevention & reporting techniques.
• Keep up to date on impact of potential changes driven by the local regulators, industry, marketplace, and/or legal environment
• Implement & execute policies, procedures and guidelines set forth by group Legal & Regulatory team and ensure the team complies with the same
• Implement governance to manage the consolidated OpCo AML, Risk, Ethics, Compliance & Regulatory strategy, budgets and financials, under direction from the OpCo CEO
• Cascade the Group Fintech budget, analytics and reporting framework in the function, under direction from the OpCo CEO 
• Deliver results under the guidance of the Group GM Compliance, AML, Risk & Regulatory Affairs, abiding by all the set directives and regularly reporting compliance

Regulatory

• Ensure compliance with applicable regulatory requirements by regularly deep diving and assessing opCo’s performance on key regulations
• Serve as primary contact with regulators, planning and executing successful regulatory agency meetings and engagements, where required, involve CEO in leading strategic meetings
• Execute strategy for all regulatory submissions, license compliance and product approvals, inclusive lead the preparation, review and completion of documents for regulatory submission
• Monitor and report to Management status of the Company's compliance to all laws of Country, policies, best practice and processes
• Provide input, when required, in the Company strategy for ensuring future compliance and mitigation of risk i.e. Material legislations, fines and reporting requirements for various regulators
• Understand the impact of potential changes driven by the local regulators, industry, marketplace, and/or legal environment and report these back to management to ensure company alignment
• Be up to date on all relevant compliance and regulatory requirements within the local Telecommunications and Mobile Financial Services Industry and ensure the company complies
• Create and maintain amicable working relationships with regulators and ensure sustainable stake holder engagement
• Other tasks and duties, as assigned 

Fraud

• Developing and embedding a fraud risk management programme
• Monitoring and investigating customer fraud
• Creating customer and internal fraud awareness

Managerial / Supervisory Responsibilities

• Accountable for the morale, performance, and development of the function’s human capital
• Cascade and socialize work structure processes to enable adoption by the team
• Coach and mentor direct reports
• Ensure assigned team is led, motivated, and rewarded to achieve KPA’s
• Ensure that coaching / mentoring programs and personal development plans are in place for all staff members
• Ensure effective management of diversity among personnel in the function
• Identify staff training and development needs and implement necessary actions, in collaboration with HR
• Motivate and manage individuals to perform at the highest level, especially in terms of delivery and meeting target deadlines
• Possess the authority, presence, and integrity to command respect from colleagues and from external contacts

Provide career development for direct reports (counselling, coaching, identifying key performance areas, career planning, and goal setting), in collaboration with HR

Education:

• Business Administration/ Social Science/ Finance (or related) Degree
• Master’s in business administration/ Compliance/ Risk Management or relevant Master’s degree is advantageous
• Risk management certification

Experience:

• Minimum 5 to 8 years relevant experience in a similar position with at least 2 years in a managerial role
• Experience in Fintech, banking or financial services is preferred
• Working experience in senior Risk Management positions within a multinational organisation
• In depth experience in AML, Risk Management, Internal Audit or a similar function, working with internal control tools
• Experience working in a global/multinational enterprise with a good understanding emerging market 
• Proof of continuing education through courses, personal development and seminars

Competencies:

Functional Knowledge:

• Risk Management (Knowledge of ISO31000 risk management principles, Knowledge of Corporate regulatory environment, Fintech risk environment, Financial, Technology & Operational risk, Business Continuity Management, ethics management)
• Compliance (AML/ CTF laws knowledge, Suspicious Transactions Analysis, Risk Scenario Mapping, Process Compliance, Audit Sampling & Analysis)
• Fraud Management (Fraud Analysis, Fraud Investigation, Financial data analysis, Fraud systems & tools)
• Data handling & analysis
• Audit sampling & analyses
• Report writing & presentation