First Bank of Nigeria Limited (FirstBank) is Nigeria’s largest financial services institution by total assets and gross earnings. With more than 10 million customer accounts, FirstBank has over 750 branches providing a comprehensive range of retail and corporate financial services. The Bank has international presence through its subsidiaries, FBN Bank (UK) Limited in London and Paris, FBNBank DRC, FBNBank Ghana, FBNBank Gambia, FBNBank Guinea, FBNBank Sierra-Leone and FBNBank Senegal, as well as its Representative Offices in Johannesburg, Beijing and Abu Dhabi.
Since its establishment in 1894, FirstBank has consistently built relationships with customers focusing on the fundamentals of good corporate governance, strong liquidity, risk management and leadership. Over the years, the Bank has led the financing of private investment in infrastructure development in the Nigerian economy by playing key roles in the Federal Government’s privatisation and commercialisation schemes. With its global reach, FirstBank provides prospective investors wishing to explore the vast business opportunities that are available in Nigeria, an internationally competitive world-class brand and a credible financial partner.
The Bank has been named “The Best Bank Brand in Nigeria” four times in a row – 2011, 2012, 2013, 2014 – by the globally renowned “The Banker Magazine” of the Financial Times Group; and “Most Innovative Bank in Africa” in the EMEA Finance African Banking Awards 2014. FirstBank’s brand purpose is to always put its customers, partners and all stakeholders at the heart of its business, even as it is poised to standardise customer experience and excellence in financial solutions across Sub Saharan Africa, in consonance with its brand vision “To be the partner of first choice in building your future”. Our brand promise is to always deliver the ultimate “gold standard” of value and excellence. This commitment is anchored on FirstBank’s inherent values of passion, partnership and people, to position our customers first in every respect.Responsibilities
To assist in building, developing and implementing the Bank’s compliance program as it pertains to products
To assist in building, developing and implementing the Bank’s compliance program as it pertains to products
Continuously monitor products and services and ensure that they are implemented in line with local regulations
Review regulatory intelligence on existing product portfolio by looking at regulatory precedents, industry practices and competent authorities’ opinions, in reviewing present and future product and services offerings.
Prepare monthly/quarterly monitoring reports to the unit head on recurring compliance issues and breaches.
Prepare case on case/monthly/quarterly monitoring reports to the MTOs (Western Union, MoneyGram etc) compliance issues
Prepare monthly BVN monitoring reports to the CBN and attendant daily/weekly/monthly issues that may arise or regulation changes
Action-tracking of the resolution of all compliance-related audit or regulatory findings and related actions, management-initiated actions, and actions coming from Compliance Framework activities in branches.
Provide input to the preparation of content for periodic Compliance-related Board and management papers.
Develop and implement strategy for ensuring the Bank’s compliance with policies and procedures for the conduct of Money Transfer business in the Bank.
Develop consequent management for staff misconduct identified on Money Transfer desk
Review field reports on ad-hoc visits to identified high risk MT locations with a view to reducing high rate of fraudulent activities and sanctions from Business Partners.
Ensure prompt rendition of all regulatory reports to the relevant regulatory agencies.
Ensure records of all regulatory reports are updated, properly maintained and where applicable, promptly made available to regulators on request.
Interface and Coordinate enquiries from Regulators and Enforcement Agencies such as EFCC, CBN, NFIU, NDLEA, FIRS and the Nigerian Police.
Respond to enquiries from NFIU on the GOAML board and other regulators on Returns rendered.
Develop and implement strategy for continuous risk assessment of the various products and channels in the Bank.
Requirements
First degree (or equivalent) in any discipline, plus 5 years banking experience
Specialist knowledge in Anti-Money Laundering, Data Protection, Financial Markets and Fraud and Ethics would be highly desirable
A minimum of 6 years’ experience working in compliance or related financial services area
Experience in compliance monitoring and audit /inspection programs.