Risk and Compliance Assistant

JOB PURPOSE

- To support the identification, assessment and mitigation of risks and monitor compliance with applicable regulatory requirements, internal policies and procedures through routine operational audits, compliance reviews, documentation and follow-up of identified findings.

KEY ROLES AND RESPONSIBILITIES

• Audit processed loans and member refunds to ensure compliance with approved policies, procedures and authorisation requirements.
• Review newly opened member accounts to ensure compliance with account opening procedures and applicable KYC requirements.
• Verify over-the-counter receipts and assist in conducting surprise cash counts and physical verification of SACCO assets.
• Assist in identifying, assessing and documenting operational, financial and compliance risks, and report any irregularities or control weaknesses identified.
• Monitor compliance with internal policies, applicable laws, regulations and statutory requirements, and assist in preparing compliance reports and maintaining relevant records.
• Prepare accurate audit workpapers and supporting documentation for review by the Head of Audit, Risk and Compliance.
• Follow up on audit, risk and compliance findings and maintain records of the implementation status of agreed corrective actions.
• Assist in conducting risk assessments, internal and external audits, and staff sensitisation on risk management and compliance matters.
• Perform any other relevant duties as may be assigned from time to time.

QUALIFICATIONS AND EXPERIENCE

• A Bachelor’s degree in Business Administration, Finance, Accounting, Risk Management or a related field from a recognised institution.
• At least Level II of CPA, ACCA or an equivalent professional qualification will be an added advantage.
• A minimum of two to three (2–3) years’ relevant experience in risk management, compliance, internal audit or a related function within a SACCO, bank, microfinance institution or other regulated financial institution.
• Knowledge of SACCO operations, cooperative regulations, financial services legislation, internal controls and risk management practices.
• Familiarity with audit documentation, risk assessment, compliance monitoring and preparation of reports.
• Knowledge of risk management, compliance and internal control practices in a financial institution.
• Good report-writing and communication skills.
• Integrity, confidentiality and ability to maintain professional independence.