Overview

Salary: Kes 70,000 – 80,000 (Approx. 530 USD)
Location: Nairobi, Kenya
Job Type: Full-time
Career Level: Mid Level
Deadline for Applications: 12/06/2024

Are you a detail-oriented professional with a passion for compliance and risk management? Join our client, a leading forex company in Nairobi, as a Compliance Officer. This role is pivotal in ensuring the organization’s adherence to regulatory standards and internal policies. If you have 2-5 years of experience in compliance, risk management, or auditing, we want to hear from you.

Why Work with Us?

Competitive Salary and Benefits

Attractive Monthly Gross Salary: Kes 70,000 – 80,000 (Approx. 530 USD)
Comprehensive Health Benefits: Including medical, dental, and vision coverage.
Professional Development: Opportunities for ongoing education and career advancement.
Paid Time Off (PTO): Generous vacation and sick leave policies.
Remote Work Options: Flexible working arrangements to support work-life balance.

Company Culture and Values

At Summit Recruitment & Search Africa, we prioritize sustainability, inclusivity, and equality. Our commitment to these principles drives our operations and company culture, fostering an environment where every employee feels valued and respected. We are dedicated to:

Sustainability: Implementing practices that minimize our ecological footprint.
Inclusivity: Embracing diversity and ensuring equal opportunities for all.
Equality: Promoting a fair, respectful, and non-discriminatory workplace.

About Summit Recruitment & Search Africa

Summit Recruitment & Search Africa is a premier Recruitment and Executive Search agency headquartered in Kenya. We specialize in connecting exceptional talent with leading companies and NGOs across various sectors in Africa. Our commitment to excellence and deep understanding of the African job market makes us the preferred partner for organizations seeking top-tier professionals.

About the Role

As a Compliance Officer, you will play a critical role in maintaining the integrity and compliance of our client’s operations. You will be responsible for analyzing complex information, ensuring adherence to regulatory standards, and collaborating with cross-functional teams to implement effective compliance measures.

Key Responsibilities

Oversee Control Systems: Develop and maintain control systems to prevent or address violations of legal guidelines and internal policies.
Continuous Improvement: Evaluate and enhance control efficiency regularly.
Procedure Revision: Periodically update procedures, reports, etc., to identify hidden risks or non-conformity issues.
Regulatory Monitoring: Work with corporate counsels to monitor the enforcement of standards and regulations.
Risk Assessment: Assess future business ventures to identify potential compliance risks.
Peer Review: Review colleagues’ work to identify compliance issues and provide advice or training as necessary.
Regulatory Updates: Stay updated on regulatory developments and best practices in compliance control.
Reporting: Prepare comprehensive reports for senior management and external regulatory bodies.

Qualifications and Requirements

Certifications: Necessary certifications for applying as an Anti-Money Laundering Reporting Officer to FRC and CBK.
Experience: 2-5 years of experience in compliance, risk management, auditing, or a related field.
Knowledge: Deep understanding of relevant regulations and compliance standards such as AML, KYC, GDPR.
Analytical Skills: Ability to analyze complex information and identify compliance risks.
Legal Knowledge: Basic understanding of relevant CBK laws and regulations governing the industry.

How to Apply

Ready to take the next step in your compliance career? Click apply Below.

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Sample Cover Letter for a Compliance Officer

[Applicant’s Name]
[Address]
[City, State, Zip Code]
[Email Address]
[Phone Number]
[Date]

Hiring Manager
Summit Recruitment & Search Africa
[Company Address]
Nairobi, Kenya

Dear Hiring Manager,

I am writing to express my interest in the Compliance Officer position at Summit Recruitment & Search Africa as advertised. With over four years of experience in compliance and risk management, I have honed my ability to analyze complex regulatory requirements and implement effective compliance strategies. My hands-on experience in ensuring adherence to AML, KYC, and GDPR standards makes me an ideal candidate for this role.

In my previous role at [Previous Company], I successfully led the compliance team through several regulatory audits, achieving a 100% compliance rating. My proactive approach in revising control systems and providing comprehensive training to staff resulted in a significant reduction in compliance violations. I am particularly skilled in risk assessment and developing solutions that align with both regulatory requirements and business objectives.

I am excited about the opportunity to bring my expertise to Summit Recruitment & Search Africa and contribute to your commitment to sustainability, inclusivity, and equality. Thank you for considering my application. I look forward to discussing how my background, skills, and certifications align with the needs of your organization.

Sincerely,

[Applicant’s Name]

How to Be a Successful Applicant for the Compliance Officer Role

Understand the Role: Research the specific compliance requirements for the forex industry.
Highlight Relevant Experience: Emphasize your background in compliance, risk management, and auditing.
Showcase Certifications: Ensure your certifications for AML and KYC are up-to-date.
Demonstrate Analytical Skills: Provide examples of how you’ve analyzed and mitigated compliance risks in past roles.
Stay Current: Be aware of the latest regulatory developments and best practices.
Prepare Examples: Be ready to discuss specific instances where you’ve successfully handled compliance issues.
Tailor Your Application: Customize your resume and cover letter to highlight relevant experience and skills.
Network: Connect with professionals in the compliance field to stay informed about industry trends.
Be Detail-Oriented: Attention to detail is crucial in compliance roles; demonstrate this in your application.
Follow Up: After applying, follow up to show your continued interest in the position.

Possible Compliance Officer Interview Questions with Answers

What attracted you to a compliance officer role?
Answer: I am drawn to the compliance officer role because it combines my passion for legal research and risk management. Ensuring that a company operates within the regulatory framework while mitigating risks aligns with my skills and professional goals.
How do you stay updated with regulatory changes?
Answer: I subscribe to industry newsletters, participate in webinars, and am a member of professional compliance organizations. This helps me stay informed about the latest regulatory developments and best practices.
Can you describe a time when you identified a major compliance issue?
Answer: At my previous job, I identified a significant non-compliance issue with our KYC processes. I immediately notified senior management, conducted a thorough investigation, and implemented revised procedures that aligned with regulatory standards.
How do you handle conflicts between compliance requirements and business objectives?
Answer: I believe in finding a balance by developing solutions that meet regulatory requirements without compromising business goals. This often involves collaborating with different departments to create compliance strategies that are both effective and feasible.
What steps would you take to implement a new compliance policy?
Answer: I would start with a risk assessment to understand the potential impact, followed by drafting the policy. After obtaining approval from senior management, I would conduct training sessions for staff and continuously monitor the policy’s effectiveness.
How do you ensure effective communication of compliance policies?
Answer: Clear and regular communication is key. I use various channels such as email, intranet, and in-person training sessions to ensure that all employees understand compliance policies and their importance.
Describe your approach to conducting internal audits.
Answer: My approach includes thorough planning, detailed testing of controls, and clear documentation of findings. I also ensure that any issues identified are communicated promptly and corrective actions are taken.
How do you handle non-compliance by a senior executive?
Answer: Addressing non-compliance at any level is critical. I would document the issue, discuss it with the executive involved, and escalate it to the appropriate higher authority if necessary, while ensuring confidentiality and professionalism.
What software tools have you used for compliance management?
Answer: I have experience with various compliance management tools such as SAP GRC, Compliance 360, and MetricStream. These tools help streamline compliance processes and ensure thorough documentation.
Why do you think compliance is important in the forex industry?
Answer: Compliance is crucial in the forex industry to prevent financial crimes, protect clients, and maintain the integrity of financial markets. Adherence to regulatory standards helps build trust and ensures the company’s operations are legally sound.

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We wish you the best in your job search and remind you that Summit Recruitment & Search Africa is committed to attracting and retaining the best employees from all races and backgrounds in our continued effort to become a better development partner. We are an equal opportunity employer and do not charge any application or recruitment fee, whether refundable or not.

To apply for this job please visit www.summitrecruitment-search.com.