Risk and Compliance Officer (CLICO CU)

Our Client, CLICO Credit Union, is seeking to fill the position of Risk and Compliance Officer.

JOB SUMMARY

This is a management level position who reports to the Board of Directors and is assigned to the CEO’s office. This incumbent will work independently, coordinating and monitoring the Credit Union’s Compliance Programme and will:

• Provide guidance on the proper application and interpretation of laws, regulations and policies applicable to compliance as it pertains to the Credit Union;
• Provide Management with guidance in the development and maintenance of policies, procedures and practices to cover regulated activities;
• Ensure that the necessary compliance programme, procedures, controls and training required by the Financial Obligations 2010 in place.   
  • Identifies, assesses and manages existing and potential risks, develops preventive measures to mitigate and/or eliminate such risks.

DUTIES & RESPONSIBILITIES

• Adheres to the highest operational standards and aims to deliver on all annual department goals and personal Key Performance Indicators (KPIs) as agreed to with CEO and/or Board;
• Develops goals, objectives, and key performance indicators for the department;
• Designs and implements work programs to achieve department goals;
• Co-ordinates and monitors the Compliance Programme (CP) to ensure continuous compliance with the Financial Obligations and CBTT Regulations;
• Develops, initiates, maintains and reviews policies and procedures for the general operation of the Credit Union’s Compliance Programme and its related activities to enforce ethical and compliance thereto;
• Collaborates and directs internal departments on compliance issues;
• Receives and reviews Suspicious Activity Reports (SAR) and where appropriate remits SAR’s in accordance with FIU Regulations;
• Audits and maintains an accurate record of Source of Funds in accordance with the Compliance Programme, Anti-Money Laundering and Terrorist Financing Regulations and CFT legislation;
• Monitor the Financial Action Task Force (FATF’s) list of high-risk individual and entities and Non-Co-operative Counties and Territories (NCCT);
• Monitor the United Nations security council list (UN1267) for persons identified as terrorists or involved in terrorist activity;
• Conducts, maintains compliance and records of the following activities in accordance with FIU Regulations and CCU Compliance Programme;
• Monitors and maintains registers of enquires;
• Function as the chief liaison between the CU and FIU and keeps staff and officers updated with new information from FIU;
• Co-ordinates all AML/CFT training for Board, Committee Members, and Employees of the Credit Union and maintains the record of all training materials, facilitators and attendance;
• Ensures that there are adequate and timely planning of the Credit Union’s Compliance Audits;
• Responds to all queries from Regulatory Bodies;
• Monitors and maintains an updated Fixed Deposit Certificate Register;
• Reports to the Board on all compliance issues;
• Monitors, maintains and informs staff and officers of updated terrorist listings;
• Reviews periodically all securities held by the Credit Union to determine whether the same had been compromised with terrorist financing and takes appropriate action when required;
• Submits all Periodic reports to FIU and Regulatory Bodies;
• Attends training programmes, seminars and workshops as required by the Credit Union;   
• Oversee and manage the credit union’s Enterprise Risk Management activities
• Act as a member of any Risk Committee formed by the Board.
• Identify risks associated with current and proposed future business activities as well as new proposed products and major relationships.
• Identify potential risks, including project, enterprise, control, and inherent risks 
• Evaluate the likelihood and potential impact of identified risks, and prioritise them by severity 
• Develop and implement strategies to reduce or eliminate the impact of identified risks 
• Manage risk to an organisation's employees, customers, reputation, assets, and stakeholders' interests 
• Prepare reports on risk management, such as credit and market risk reports 
• Assist in developing, implementing and overseeing risk frameworks, policies and reports 
• Perform root cause analysis on risk events and operational losses to recommend process and control improvements    
• Any other related duties as directed by the Board of Directors and CEO.

QUALIFICATIONS AND EXPERIENCE

• At least five (5) years’ experience in an Auditing, Accounting /Finance or related field.
• Qualified Professional in ACCA, CISA, CIA, Risk/Compliance or related discipline;
• Bachelor’s Degree in Accounting or related field from a recognized university;
• Master’s degree would be considered an asset.
• ACAMS certification

Closing Date: February 7^th, 2025

We wish to thank all applicants for their interest, however, only those favourably considered will be contacted.