Compliance Officer at Jubilee Insurance

Application deadline closed.

Job Description

Job Ref. No. HRJLICU922

Position: Compliance Officer

Jubilee Insurance is the number one insurer in East Africa with over 450,000 clients. Jubilee Insurance has a network of offices in Kenya, Uganda, Tanzania, Burundi, and Mauritius. It is the only ISO certified insurance group listed on the three East Africa
stock exchanges – The Nairobi Securities Exchange (NSE), Dar es Salaam Stock Exchange and Uganda Securities Exchange. Its
regional offices are highly rated on leadership, quality and risk management and have been awarded an AA- in Kenya and Uganda, and an A+ in Tanzania. For more information, visit www.JubileeInsurance.com.

Ensure that the organisation conducts business in compliance with all national and international laws and regulations pertaining
to insurance and financial services, including but not limited to the IRA regulations, Insurance Act, on KYC, Anti Money
Laundering (AML) and Counter Terrorism Financing (CTF), Treating Customer Fairly Regulations, Confidentiality Act as well all
internal policies and procedures. This role will also ensure the organisation adopts best business practices and professional
standards and will set internal standards by creating and implementing company policies to govern AML and CFT. The role holder will be expected to drive a much higher level of accountability across the organisation while ensuring adherence to the Brand and Company values as directed by the Board from time to time.
We currently have an exciting career opportunity for a Compliance Officer, Jubilee Life Insurance Company of Uganda.
The position holder will report to the Head of Risk and Compliance.

Role Purpose
Primarily responsible for ensuring compliance in the company.

Number of Positions: 1 Person, Kampala

Main Responsibilities
1. Communication of and updating on regulation changes, raising awareness of risk, training, compliance related issues and
advice across the organisation to achieve highest possible levels of compliance (25%)
2. Enforcement of internal controls across the business and total compliance with external regulations (60%)
3. Responsible for keeping the company’s business dealings ethically sound and legally compliant, maintain a positive
reputation, work with internal and external stakeholders to minimize the risk of lawsuits, fines and regulatory scrutiny
(15%)
4. Putting in place all compliance policies such as AML/CTF and conducting periodic reviews and audits to ensure all
compliance procedures are being followed as per agreed SLA & needs and any weaknesses or risks are identified and
mitigated early on
5. Verification of compliance with internal operational policies and systems of control by each business line and support
function to ensure compliance with insurance and other applicable laws and regulation
6. Design and implement improvements in the communication, monitoring and enforcement of compliance standards
7. Ensure review of Suspicious Activity Reports (SARs) and reporting of the same as may be required
8. Harmonization of compliance methods and tools used throughout the organization including the branches
9. Monitoring organization of requests from the authorities and ensures issues raised are addressed promptly
10. Ensuring all required regulatory reports are filed promptly and respond to policy/compliance violations by reporting to
duly authorized regulatory agencies
11. Review and implement all mandates from the Board and ensure all Board members and management are advised on the
company’s compliance risk through detailed ad hoc, monthly, quarterly and annual status reports
12. KYC and AML Compliance
13. Supervise the submission of all Statutory returns and taxes
14. Enforce the design and implementation of process manuals and update regularly on the status
15. Keep abreast of regulatory developments within and outside the company as well as the evolving best practices in
compliance management
16. Supervise the Compliance team and ensure proper adherence to the annual performance cycle
17. Coordinating and review each business process to identify and mitigate any potential risks
18. Regular review of the Procedure Manuals for the Kenya business to ensure total compliance to applicable policies and
regulators
19. Compliance Reports in line with Annual work plan
20. Staff awareness and training on all areas of compliance and ensure that the staff are aware of the need for and
objectives of compliance and their responsibilities under compliance procedure manual.
21. Maintain a register of compliance breaches containing information on the date, nature and extent of each compliance
breach;
22. People management: carry out timely annual performance appraisals, coach and mentor direct reports; ensure optimal
staffing of the compliance team; administrative tasks such as leave approval.

Key Competencies
1. Ethics & Professionalism
2. Stakeholder Relationship Management
3. Governance of controls
4. People management and supervision
5. Excellent communication and reporting
6. Good analytical and interpretation skills
7. Good computer knowledge.
8. Customer focus and management oriented

Qualifications
1. Bachelor’s degree in law, finance, Actuarial science, banking, business management or a related field
2. CPA/ACCA, ACII, Forensics or an equivalent qualification.
3. Training in ISO Certification
4. Relevant certifications e.g. Anti-Money Laundering/ Forensics/Counter Terrorism Financing
5. Excellent written and verbal communication skills
6. Proficient in the use of Microsoft office suite and packages

Relevant Experience
7. Minimum of 3 years proven experience in compliance role preferable in the insurance industry
8. Good knowledge of regulatory requirements and procedures
9. Experience in process mapping and controls

If you are qualified and seeking an exciting new challenge, please apply via
RecruitmentLife@jubileeUganda.com quoting the Job Reference Number and Position by 21st September 2022.

Only shortlisted candidates will be contacted.