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Head Of Regulatory Affairs Job Opportunity at NBC Bank Tanzania

by Udahiliportal
January 23, 2020
Reading Time: 5min read
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Head Of Regulatory Affairs

Head Office NBC

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NBC is the oldest serving bank in Tanzania with over five decades of experience. We offer a range of retail, business, corporate and investment banking, wealth management products and services.

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Job Description
Stakeholder Relationship Mgmt: Continued pro-active stakeholder engagement and involvement on a business, regulator and industry level. | Business Enablement:: Ensure commercially sound Compliance guidance and support in respect of allocated regulatory requirements in a professional and helpful manner, always considering the potential alternatives within the rules and regulations applicable, endeavouring to find solutions to ensure compliance as well as the continuation of business

Qualifications
Bachelors Degree and Professional Qualifications – Law, Banking Knowledge (Meets all of the requirements), Collaboration with others (Meets all of the requirements), Commercial mindset – Senior (Meets some of the requirements and would need further development), Compliance Advisory & Interpretation (Meets all of the requirements), Compliance Experience, Compliance Risk Assessment Oversight
Regulatory Change Oversight
Employee Compliance
Registration Oversight
Compliance Frameworks and Policy Management Oversight
Conduct Risk Framework Management
Compliance Rules Mapping Library Admin
Regulatory Change Identification & Governance
Compliance Monitoring Governance
Compliance Risk Assessment Framework
Data Privacy Management

Functional Management
Compliance Change Management
Compliance Governance & Secretariat
Compliance Reporting

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Regulatory Affairs Responsibilities
In Country Regulatory Engagement – Enquiries & Consultations
Regulatory Contact Logging
Regulatory Correspondence Receipt, Review and Issuance
Commitment Logging and Monitoring
Facilitating of Central Bank’s Onsite and Offsite Inspection Management
Tracking issues raised from the Central Bank’s Inspection Audits
Product / Service Due Diligence Reviews as required by Regulator
Legislative and Regulatory Forum
Reviews of overall bank’s Policies to ensure their compliance to regulatory requirements
Reviews of Material Outsourcing Contracts prior to submission to the Central Bank for review and approval ( Regulatory Requirement), Creative and innovative thinking (Meets some of the requirements and would need further development), Customer Excellence – Service Delivery (Meets some of the requirements and would need further development), Emotional intelligence (Meets some of the requirements and would need further development), Employee/Industrial Relations (Meets some of the requirements and would need further development), English, Governance and Ethics (Meets all of the requirements), Interpersonal effectiveness (Exceeds the requirements), Openness to change (Meets some of the requirements and would need further development), Operational management = 80%
Embedding the Compliance risk management framework and methodology
Contribute to the strategic success of the Rules Mapping and Risk Assessment Function in NBC.
Contribute to the on-going improvement of the effectiveness of the Compliance risk management framework and methodology through the proactive identification of weaknesses and the implementation of solutions.
Share regulatory, technical product and transactional knowledge of the business across the Compliance function, including ensuring that a uniform compliance advisory approach is followed across NBC.
Contribute to the continued development and on-going improvement of the NBC’s compliance methodology, standards and manuals based on own experience, research conducted, information received from stakeholders, industry Compliance developments and ideas for functional change.
Maintain the Rules Mapping and Risk Assessment process, including providing assistance in respect of allocated regulatory requirements, policies or business areas.
Develop relevant compliance tools for allocated regulatory requirements/policies to assist business in the management of the associated compliance risk.
Prepare and submit regular reports relating to activities conducted to various stakeholders and relevant governance structures.
Perform compliance risk due diligence reviews on request in line with the compliance due diligence checklist and coordinate the compliance due diligence reviews where required.
Conduct ad hoc special monitoring such as special reviews and Hot Spot Reviews as and when required.
Monitoring to be done in consultation with and with participation from the relevant Monitoring and Testing Team, using the NBC methodology.
Registration Oversight

Regulatory Compliance and Policy Support
To provide assistance with, oversee a process for the delivery of or deliver commercially sound compliance guidance and support in respect of allocated and /applicable regulatory requirements and policies in a professional and helpful manner, always considering the potential alternatives within the applicable rules and regulations, endeavouring to find solutions to ensure compliance as well as the enablement and continuation of business.
Actively participate in and contribute to process re-engineering, new product development and approval processes and other project meetings, where relevant, by providing subject matter expertise on compliance risk management or allocated regulatory requirements and policies.
Apply expertise to the maintenance of allocated policies as well as ensuring the standards and local regulatory requirements are set.
Conduct quality assurance of compliance documents such as RMP’s, compliance monitoring and assurance documents, compliance findings, opinions and provide detailed feedback within agreed upon time-lines.
Provide input concerning material regulations into the relevant Forums in respect of allocated regulatory requirements.
Monitor new regulatory developments and trends on regulatory requirements and policies and provide input into comment to regulators as facilitated by internal relevant Forums or industry bodies.
Participation and involvement in compliance monitoring planning, Quality Circles and providing guidance in respect of allocated regulatory requirements and policies, the relevant sections to be monitored and the frequency of monitoring in order to ensure consistent application of the compliance methodology and assessment of findings.

Training;
Provide subject matter related training where required and specialist input to the development of compliance related training material.
Drive specialist awareness activities as and when required e.g. presentations to business
Continually develop personal business acumen/expertise, through relevant training and personal research.

Ensure that business addresses concerns raised by the Regulator /delivers on commitments made to the Regulator
Implement and comply with Audit recommendations
Follow up on any compliance related findings or action items
Facilitate the Regulatory Change process in the business and proactively follow up changes
Advise business on any changes in set standards/ local requirements (throughout the year) and identify business impact for new regulatory requirements and escalate upwards as necessary
Manage Regulatory Affairs CPA; conduct self-assessment and review on the key regularly controls depending on the frequency of controls
Produce quality reports with issues identified with supportive business focused recommendations, and submit to senior management and the Head of Compliance regularly.
Maintain a formal record of minutes of all meetings held (by the compliance officer or business) with the Regulator
Compliance Governance & Secretariat Compliance Reporting, Postgraduate Diploma in Legal Practice – Tanzania Law School, Reasoning (Meets all of the requirements), Relationship building (Exceeds the requirements), Reporting = 10%
Deal appropriately with compliance issues and escalate issues in an appropriate manner to the relevant persons.
Maintain a formal record of minutes of all meetings held (by the compliance officer or business) with the Regulator
Produce quality reports with issues identified with supportive business focused recommendations and submit to senior management and the Head of Compliance
Complete compliance returns and regulatory change report (monthly), Results orientation (Meets all of the requirements), Stakeholder relationships = 10%
Keep the Head of Compliance informed on compliance matters which may pose financial or reputational risks for the business.
Attend relevant in country meetings, and assist forums in identifying and comprehending the regulatory compliance risks
Ensure meeting minutes are compiled and disseminated to relevant parties within 2 days after the meeting. Action items to be followed up to closure
Ensure timeous provision of information to Regulators
Communicate regulatory issues/concerns with internal stakeholders and line management
Develop and implement programme of regular meetings with internal stakeholders and regulators (quarterly formal meetings)
Assist business to draft correspondence and presentations to the Regulator.
Ensure to always improve on communications with business through innovative thinking and approaches.
Enhance and promote a compliance culture through awareness activities
Ensure that business addresses concerns raised by the Regulator /delivers on commitments made to the Regulator
Maintaining and building healthy and trustworthy relationship with the relevant regulators and supervisory teams.
Continued pro-active stakeholder engagement and involvement on a business, regulators and industry level.
Maintain good relationships with Colleagues and business across NBC and Absa.
Participate in industry-related initiatives and establish networks with key role players
Serve as company nominated members of industry committees where relevant to allocated cluster of regulatory requirements or any other committee as requested by line manager.
Proactively providing feedback to stakeholders on compliance issues of common interest in relation to industry developments and trends.

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