Risk and Compliance Manager

Risk and Compliance Manager

The Manchester Co-operative Credit Union (1977) Limited is seeking a Risk and Compliance Manager to develop and implement risk management policies, programs, and standards that mitigate risks and ensure compliance with Bank of Jamaica, Ministry of Finance & Planning, and other relevant regulations. This role is integral in safeguarding the financial integrity of the Credit Union and maintaining regulatory compliance.

Key Responsibilities

• Develop and implement risk management policies to mitigate financial, operational, and compliance risks.
• Monitor regulatory compliance with financial laws, including Bank of Jamaica regulations, Anti-Money Laundering (AML) laws, and the Proceeds of Crime Act.
• Assess and evaluate liquidity and securities risks to ensure sufficient funds are available to meet the needs of the Credit Union while minimizing financial losses.
• Conduct compliance audits and risk assessments, ensuring adherence to policies and identifying potential vulnerabilities.
• Investigate and report unusual or suspicious transactions, ensuring timely filing of Suspicious Activity Reports (SARs).
• Act as the primary liaison between the Credit Union, regulatory bodies, and law enforcement agencies on compliance matters.
• Train staff on risk management best practices, regulatory requirements, and fraud detection.
• Monitor and enforce the Credit Union’s risk appetite and limits, ensuring all activities align with approved risk levels.
• Prepare and present risk and compliance reports to senior management and the Board for decision-making.
• Ensure policies and procedures remain updated based on evolving regulations, legal requirements, and industry trends.

Minimum Requirements

• Bachelor’s degree in Accounting, Finance, Risk Management, Business Administration, or a related field.
• At least three (3) years of experience in risk management within a financial institution.
• Strong knowledge of financial regulations, risk management frameworks, and compliance monitoring.
• Experience with analyzing financial data and reporting on risk exposure.
• Proficiency in Microsoft Office (Excel, Word, PowerPoint) and experience with risk management systems is a plus.
• Strong analytical, leadership, and communication skills.