Risk and Compliance Officer

Risk and Compliance Officer

Sumac Microfinance Bank Ltd is a premier, fully-fledged microfinance institution regulated by the Central Bank of Kenya. With a robust branch network spanning the country and a cutting-edge mobile banking platform, we bridge the gap between financial services and the entrepreneurs who drive Kenya's economy.

At our core, we are more than just a bank; we are a partner in growth. We provide a comprehensive suite of financial solutions—including Accounts, Loans, Trade Finance, Forex, and Bancassurance, designed to transform small ventures into sustainable, prudently managed enterprises.

About the Role

The job holder will be responsible for ensuring that the Bank’s overall Risk & Compliance framework, specifically under internal processes and procedures, regulatory, statutory, KYC & AML guidelines, is acceptable and there is full compliance to the same within the bank. To also carry out risk assessments and advice on areas of improvement. 

Key Responsibilities: 

• Conduct Risk assessments on all bank projects, units, products, and processes as per the risk management policies and procedures.
• Conduct reviews on all bank activities, processes, and units to ensure compliance with internal policies and procedures, regulations, and all relevant laws.
• Conduct daily transactions monitoring, compile, and report to relevant regulators on any over the limit and/or suspicious transactions.
• Conduct internal Risk management, AML, and KYC trainings to promote compliance awareness and improve the risk culture in the bank.
• Represent the risk and compliance function at various management meetings as and when requested and advise on risk issues.
• Take part in preparation of Risk and Compliance reports
• Maintain detailed knowledge of current AML/CFT/CPF regulations and keep track of developments within the AML/CFT/CPF scope, sanctions, terrorist financing issues, including policies, procedures, regulations, industry best practice, criminal typologies and developing trends and advise accordingly
• Maintain strong working relationship with internal and external stakeholders to ensure that compliance issues are regularly discussed and addressed.
• Acts as the AMLRO Officer for the Bancassurance Intermediary
• Monitor and track closure of management actions from the compliance reviews, regulators and external audit reports
• Proactively identify gas in the assigned reviews, assessments, projects and follow up on implementation of agreed mitigation controls
• Perform any other duties as assigned in line with the organizational goals and objectives 
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Qualifications and Technical Competencies

• University degree in a business-related field or its equivalent.
• At least 4 years’ experience in Risk & Compliance within Banking or a regulated financial services sector
• Professional risk management qualifications is desirable.
• A Certified Anti-Money Laundering Specialist qualification will be an added advantage
• Knowledge of money laundering techniques and regulations
• Knowledge of regulatory compliance requirements and risk management principles
• Demonstrable analytical skills
• Good organization and planning skills
• Good knowledge of Banking operations
• Results oriented, effective communicator and a team player
• Proficiency in computer applications

Why Join Us

Working at Sumac means joining a team dedicated to sustainable development and impactful service. Our culture is built on five key pillars that guide how we interact with our clients and each other:

• Considerateness: We foster respectful relations with our employees, partners, and the communities we serve.
• Loyalty: We believe in the power of collaboration to solve problems and achieve ambitious goals.
• Integrity: We operate with total honesty, fairness, and transparency. Being "above board" isn't just a phrase—it's our standard.
• Passion: We take pride in our work, performing every role with purpose and a positive attitude.
• Transparency: We maintain an open-door policy, ensuring all stakeholders are informed and valued.

What to Expect In the hiring Process

• A Preliminary call with a Recruiter
• An Interview with the Hiring Manager
• Panel  Interviews
• Executive Interview