Position: Compliance Officer
Number of position: 3 (Three)
Duty station: Central Area (Addis Ababa), North West Area (Ambo) & South Area (Hawasa)
Term of employment: Permanent
Opening Date: May 3, 2021
Closing Date: May 10, 2021
About the Organization:
VisionFund Micro Finance Institution (S.C) is an Institution established according to proclamation No. 40/96 to provide financial services to the productive poor in the rural and urban areas of Ethiopia. VisionFund is currently operating in four of the Regional States of the country.
VisionFund MFI is currently looking candidates for the position of Compliance Officer for Central Area, North West Area and South Area Operation Offices. The successful candidates will have skills and experience that meet the following requirements:
Major Duties and Responsibilities:
• Ensures the implementation of the compliance risk management system of the company;
• Follows up efficient identification and monitoring of suspicious activities and transactions;
• Participates in identifying systemic procedural weaknesses and additional training
• Assists with money laundering related queries/questionnaires received from corresponding banks;
• Follows up proper identification of suspicious transactions or money laundering alerts;
• Participates in developing and documenting the compliance policy, reports and other related documents;
• Participates in fostering and encouraging a culture of compliance in the company;
• Works with internal and other key stakeholders to identify and mitigate the risks associated with existing and new higher risk customers and transactions;
• Monitors large transactions, frequent transactions by one single client, dormant accounts;
• Participates in anti-money laundering and fraud monitoring awareness building;
• Ensures and keeps the internal control procedures are abreast with applicable laws and regulations, and disseminate information / requirements to relevant stakeholders as appropriate;
• Participates in the revision of operational procedures to ensure they are in compliance with the law and required operational controls;
• Provides expertise support to staff and other working units to assist them in complying with existing and new regulation requirements;
• Organizes and conducts trainings for the Branch staff to make them aware of the regulation on money laundering and anti-terrorist financing and the reporting requirement and mechanisms;
• Ensures that the reporting mechanism is supported by an adequate computer system for the efficient and timely flow of information;
• Prepares compliance reports and forwards it to the Senior Risk & Compliance Officer;
• Presents reports on “liquidity risk” of the MFI to ensure it’s ability to meet obligations or its cash flow needs;
• Presents reports on “interest rate risk” to ensure that interest paid to depositors and interest rate on loans are adequately managed to cover financial costs and other expenses to continue the business on a sustainable manner;
• Prepares compliance reports and forwards it to the supervisor;
• Prepares weekly, bi-weekly, monthly and quarterly reports to the supervisor and make ready to report to Financial Intelligence Centre (FIC),
• BA Degree in Accounting, Law, Banking, Finance, Economics, Business Administration or related field.
• A minimum of 3 years of relevant work experience in any financial Company or related organization.
• Knowledge of risk management methodologies.
• Knowledge of research methodology.
• Good analytical and evaluation skill.
• Be proficient in Microsoft office applications.
• High level of customer service and strong willingness to work in the field.
• Excellent written and oral communication skills.