Head, Risk & Compliance at Prudential Life Insurance Ghana

• Reporting administratively to the Chief Executive Officer and directly to the Board Audit & Risk Committee, the Head of Risk & Compliance has oversight responsibility of handling all Compliance, Legal, Governance and Risk related issues for the business.

Responsibilities

Compliance

• Ensuring compliance of the company, at all times, with the Group Compliance Policy, Group Anti Money Laundering and Counter Terrorist Financing Policy, Group Sanctions Policy and more.
•  Working with various departments (e.g. Finance, Human Resources, Life Administration, and Internal Audit) to facilitate compliance with Government laws and regulations and ensure that all transactions are adequately reviewed from a compliance perspective and structured in such a way that is optimal for the company.
•  Advising Management of new legislation and regulations which might affect the company.
•  Examining policy documents and promotional materials to mitigate regulatory compliance breaches.
•  Evaluating whether the company is in compliance with applicable laws and regulations, guidelines and directives issued by the Government and other regulatory authorities.
•  Ensuring implementation of good corporate governance culture within the organization of the company and acting as contact point for compliance matters with local regulator.
•  Evaluating compliance with internal policies and procedures set by Board of Directors and management, including Code of Conduct, Group Anti-Fraud Policy.
•  Contributing recommendations and decisions on issues on issues and reported fraud cases.
•  Oversight responsibility as Money Laundering Prevention Officer (MLPO) to discharge accountabilities set out in the Group Anti Money Laundering and Counter Terrorist Financing Policy, by pro-actively assisting line management in identifying and containing money laundering and terrorist financing risks, monitoring for and reporting suspicious transactions, conducting sanction screening in accordance with the Group Sanctions Policy, monitoring the business, procedures and controls from a money laundering perspective and maintaining good relationship with local regulator.
•  Oversight responsibility as Anti-bribery & Corruption (ABC) Officer and discharging accountabilities set out in Group ABC policy, by pro-actively assisting line management in identifying and containing ABC risks, reporting potential and actual bribery and corruption, monitoring implementation of the ABC Policy and more.
•  To maintain a view of regulatory compliance horizon risk.
•  To prepare an annual compliance plan on steps to address/ manage risk.
• To provide relevant and timely reporting to the governance committees on compliance risks, material issues, significant regulatory reviews or actions and progress against the compliance plan.

Risk

•  Implementing the Group-wide Operational Risk Policy.
•  Facilitating risk management processes (e.g. risk identification, incident management etc.).
•  Responsible for providing guidance to support and / or facilitating the development of processes for internal incident management and for overseeing and challenging the Output.
•  Responsible for providing guidance to support and/or facilitate the development of Business Unit scenario analysis processes and for overseeing/challenging the output.
•  Risk reporting to the Board Audit & Risk Committee
•  Oversight of operational risk process effectiveness and data – focusing on completeness and quality of operational risk data.
•  As required, coordinating key risk themed reviews – including ensuring outcomes are in line with business management RCAs.
• Undertaking themed reviews relating to the implementation and operation of the Operational Risk Policy and to material risks (as required).

Qualifications

Formal Education

•  1st Degree, MBA will be an added advantage

 Technical Certification

• AML/Financial Crime
•  Regulatory Compliance
•  Enterprise Risk Management

 Experience

•  Minimum of 5 years working experience in a similar role