National Cooperative Credit Union Association- Sierra Leone Address: 45 Fort Street, Freetown 

JOB DESCRIPTION 

Job Title: Compliance Officer

Location Freetown

Reports To: NaCCUA General Manager

Introduction 

National Cooperative Credit Union Association (NaCCUA) is the apex body of all Cooperative credit unions  in the country and is responsible for lobbying and advocating for the Credit Union movement in Sierra Leone.  It was formed in Sierra Leone in 2013. NaCCUA is the Apex body of all credit unions in Sierra Leone.  Members recognized the challenges of financial exclusions within Sierra Leone and established NaCCUA to  grow the credit union movement across the country and to address Sierra Leoneans’ financial needs. Its  members are affiliated with credit unions, either community-based or work-based.

The Compliance Officer works closely with NaCCUA General Manager, Finance Officer, our partners and the  relevant government authorities to ensure all affiliated credit unions operate by generally accepted best  practices for credit unions and all approved Sierra Leone policies and procedures and regulations.

Main Purpose of Job: We are looking for a dedicated, detail-oriented Compliance Officer who will work  closely with upper management staff and credit union Board of Directors in various Cooperative Credit  Unions like finance, governance, and accounting. The successful candidate will be responsible for making  sure the Cooperative Credit Unions is complying with both Credit Unions bye – Laws, Policies, Standard  role book and the Cooperative act, and sometimes are tasked with enforcing Compliance with internally  established guidelines and external auditors’ recommendations and recommending improvements to our  internal control structure.

SPECIFIC DUTIES 

• Manages and enforces an effective legal compliance program that aligns with NaCCUA standards and Cooperative Act.
• Design and deliver credit union regulatory and legal policies by effectively interpreting regulatory  frameworks and communicating them successfully to the credit union team
• Work with the senior team to appropriately interpret applicable policies within business processes.
• Design and carry out business review activities to ensure that adequate quality assurance  procedures are in place which demonstrate adherence to policy
• To work in partnership with the Supervisory Committee to create and carry out regular audits/quality  assurance checks and manage the implementation of any necessary improvements
• Manage and take accountability for the credit union risk log ensuring that risks are appropriately  logged, mitigating action considered and risks reviewed regularly.
• To identify, record and make a suggestion on how to manage the credit union’s risks
• Coach and mentor colleagues to ensure understanding and practical application of compliance  processes and procedures
• Contribute to the credit union’s strategic direction and financial planning.
• Ensure the security, control and regulation of the loan portfolio by the regulatory requirements.
• Work with the management team to deliver staff and volunteers an annual regulatory learning plan.  This may include regular communications, briefing sessions, training events etc.
• As an expert advisor, I guide the team on complex and sensitive data.
• To create and drive a regulatory education plan for credit union employees so they understand their  responsibilities and can raise risks and concerns appropriately should they identify them
• Manage ad hoc projects with an emphasis on Compliance
• Understand and apply regulations relevant to the business operations, such as data protection,  Health & Safety and information security
• Produce accurate, timely management reporting
• Keep up to date with the latest Compliance and Credit Union movement innovations.
• Understand and deliver your duties per the individual conduct rules required of those working within  financial services.
• Maintain and develop own skills, knowledge and behaviours, as well as keep up to date with  regulatory standards and changes.
• Meets cost standards by monitoring expenses and implementing cost-saving actions.
• Updates job knowledge by participating in educational opportunities like reading professional  publications on Credit Unions, maintaining personal networks, and participating in professional  organizations.
• Meets work standards by following production, productivity, quality, and customer-service standards;  resolving operational problems; and identifying work process improvements.
• Ensures Compliance with regulations and controls by examining and analyzing records, reports,  operating practices, and documentation; and recommending opportunities to strengthen the internal  control structure.
• To assist with and support other projects and activities as and when required.

Understanding and appreciation of policies, procedures, financial information and reports

• Know, understand and appreciate written policies, procedures, financial information, plans and  reports.

Information Gathering and Compilation 

• Collect and verify information on credit union performance using standardized tools and accounting  software.
• Review bookkeeping and accounting records for completeness and integrity.

Analysis 

• Analyse operational and financial reports and documentation, offering appropriate solutions for any  weaknesses identified in consultation with the General Manager NaCCUA.

Communication and Follow-up 

• Present and explain recommendations and analysis reports to credit union staff and leaders in a  constructive and supportive manner.
• Follow-up with credit union staff and leaders concerning recommendations.

Reporting and Liaising 

• Please promptly provide all required reports on Compliance with the credit union performance to  General Manager, ensuring they are free from error to the extent possible.
• Provide feedback to General Manager on the credit unions’ compliance effectiveness. .

Other 

• Undertake other related duties as assigned by General Manager.

QUALIFICATIONS AND KEY COMPETENCIES 

Education 

Essential 

• A bachelor’s degree in a relevant field – preferably in accounting, finance or other related  professional fields.

Desirable 

• A degree in a relevant field – preferably in accounting, finance or other related professional fields- is  needed.
• A minimum of 3 years auditing experience/Finance Officer
• An in-depth understanding of the industry’s rules, guidelines, and regulations. • Strong attention to detail and analytical and statistical skills.
• Good computer skills and experience with relevant software programs.
• Dedication to objectivity.

Experience, Skills, Aptitude or Personality 

Essential

• Understands the path of risk assessments
• Comfortable using quality-assuring software and data analysis
• Can keep a cool head during stress
• Ability to work under pressure with minimum supervision
• Strong communication and multitasking skills
• A keen eye for detail
• Willingness to travel frequently to credit unions.
• Fluent in written and spoken English, spoken Krio and knowledge of other local languages is an  added advantage.
• Non-Freetown only: Strong motor-bike rider with a valid driving license or willingness to learn.

The ideal candidate will have: –.

• Prior experience in a control function such as Compliance or audit
• Experience in dealing with Compliance within the financial service sector
• An ability to read and understand complex regulatory information and provide practical guidance to  the credit union
• Experience working in a financial institution in Risk Management, accounting or finance. • Strong commitment to poverty reduction through community, cooperative and voluntary initiatives. • Familiar with credit unions and cooperatives

METHOD OF APPLICATIONS

The online application can be sent to ibsbanguranaccua.sl@gmail.com and MUST clearly state the job title as  the subject. All applications must be received by 13th April 2023.