Full-Time

Corporate

Movemeback African oppportunity location
  • London United Kingdom

First City Monument Bank - Compliance Manager, Digital Borderless Banking Movemeback African opportunity cover image

Description

First City Monument Bank (FCMB) is one of the leading financial services institutions in Nigeria. Headquartered in Lagos, this publicly listed banking group has over 2,500 employees, 220 branches in Nigeria, and offices in UK and South Africa. With over 5 million customers, FCMB offers retail banking, corporate banking and investment banking services to large corporations, small and medium enterprises, as well as individuals. FCMB aims to be the premier financial services group of African origin through providing world-class financial services and products, a customer-driven focus, and constant innovation. However, this is only one aspect of this banking group’s identity, as they also strive to be the best place to work on the continent. FCMB is aggressively expanding their digital presence both internally through processes, and externally through new product launches and distribution channels.

 

FCMB are seeking a Compliance Manager with experience in financial crime to support in the success of a new digital bank, incubated within the group. This digital bank will service Nigerian diasporans in UK, by enabling borderless banking between UK and Nigeria, and removing the barrier to banking in Nigeria from overseas.

 

The Compliance Manager will be responsible for leading and driving the AML/KYC and compliance implementation to enable the expansion of the borderless banking business across payments, savings and current accounts. You will also ensure the bank maintains an excellent regulatory record, whilst ensuring customer acquisition and NPS goals are achieved for all segments including UK resident and non-resident customers. To be successful in this role, you’ll need to be familiar in areas of regulatory compliance, interested in learning and have experience & curiosity in the application of technology to solve compliance-related challenges.

 

Role Responsibilities

  • Ensure Suspicious Activity Reports, Sanctions Screening, KYC and PEP's are fully investigated in line with regulatory requirements
  • Design and implement processes that leverages best of breed technology to meet regulatory expectations whilst enabling the strategic and business goals of the digital banking offering
  • Manage and continuously improve implemented compliance processes to ensure expectations are always met.
  • Ensure Host Bank (FCMB UK), partner banks and correspondent banks are satisfied with compliance policies, processes, and technologies of the borderless bank
  • Implement compliance frameworks of borderless banking to ensure a smooth launch into new markets and new products
  • Assess various risks such as - country, customer, product and cyber and report to management and boards.
  • Pre-empt, prevent and correct compliance breaches
  • Undertake ongoing monitoring and testing to assess compliance
  • Organise, analyse and present data related to FCA regulations
  • Escalate regulatory risks and policy breaches/ discrepancies, wherever necessary to the appropriate authority
  • Lead and mentor other members of the borderless banking team to develop a healthy compliance culture
  • Recommend technology selection and usage for attainment of goals
  • Remain current on industry developments and new FCA, AML and KYC rules & regulations
  • Remain current on RegTech developments that can enhance the customer experience and create operational efficiencies

Criteria

  • AML/KYC and regulatory compliance skills and expertise (verification, CDD, monitoring) for an e-money, digital bank or fintech payments company 
  • Experience in designing and implementing compliance processes and programmes across multiple jurisdictions and product lines 
  • Solid experience in building a risk-based approach in all areas of AML and proportionate general regulatory compliance
  • Experience innovating processes leveraging technology/data to meet customer and regulatory expectations in the areas of AML/KYC
  • Knowledge and understanding of UK regulations and awareness of the regulatory principles in Africa and other markets
  • Educational qualifications to degree level (min 2:1) or its equivalent
  • Good understanding of retail banking and payment products
  • Proven years of experience of AML, KYC and CDD in a highly regulated industry
  • Knowledge of FCA principles and retail banking regulations 
  • Proficiency with compliance analytics, monitoring and testing tools

 

Professional Competencies

  • Relevant technology certifications
  • CAMS certification or other equivalents not required but desirable

 

Behaviourial competencies

  • Analytical - proven audit, testing and analytical experience & skills
  • Professionalism & Ethical behaviour
  • Proactive problem solver
  • Familiarity with regulatory sourcebooks and lists
  • Leadership & Team Management skills
  • Risk Management 
  • Excellent verbal & written communication skills
  • Strategic thinking & problem-solving skills
  • Emotional intelligence (manages own emotions and those of others)
     

Benefits

  • Globally competitive salary

About First City Monument Bank

First City Monument Bank (FCMB) is one of the leading financial services institutions in Nigeria. Headquartered in Lagos, this publicly listed banking group has over 2,500 employees, 220 branches in Nigeria, and offices in UK and South Africa. With over 5 million customers, this banking group offers retail banking, corporate banking and investment banking services to large corporations, small and medium enterprises, as well as individuals. FCMB aims to be the premier financial services group of African origin through providing world-class financial services and products, a customer-driven focus, and constant innovation. However, this is only one aspect of this banking group’s identity, as they also strive to be the best place to work on the continent.