Job Title: Head of Risk and Compliance
Organisation: Hofokam Limited
Duty Station: Fort Portal, Uganda
Reports to: Executive Director
Hofokam Limited is one of the largest Microfinance Institutions operating in Western Uganda with its head office at Fort Portal City. Hofokam’s mission is to provide satisfactory Microfinance services to households in Western Uganda to realize their socio-economic goals, with a vision to be the preferred partner of households in Uganda.
As an equal opportunity employer, we invite qualified candidates to apply for the job being advertised below.
Job Summary: As Head of Risk and Compliance Manager, you are primarily responsible for the implementation and enhancement of the risk and compliance framework within the organization. You will ensure that Hofokam is compliant with legislation, regulation as well as internal policies and procedures; and ethical standards.
The Head of Risk and Compliance is responsible for thought leadership in all aspects of risk including the embedding of risk culture, training/awareness at all levels within the institution.
Key Duties and Responsibilities
- Risk Governance; ensure that Hofokam’s approved written risk management policy and risk appetite statement is consistent with the Institution’s business strategies, capital strength and management expertise.
- Identification and Measurement of Risks; responsible for all of the following risk areas within the institution: Capital; Financial Reporting; Liquidity; Market Risk; Credit; Legal and regulation; Operational; People; Reputational; Strategic and Mission.
- Mitigation of Risks; work with the Heads of Department in the institution to identify controls to reduce the likelihood of a risk occurring. This work will form a subset of controls against which Internal Audit and Internal Compliance teams can test compliance.
- Monitoring of Risks; responsible for keeping abreast of activities within the institution and the country that may impact the ability of the Institution to operate successfully.
- Escalation of Risks; If the risk indicators are outside of established limits, or there is a breach of controls, the HRC, should discuss the specific issues with the Heads of the Department responsible before escalating to management, internal audit and the Board.
- Risk Assessments; perform periodic audits on company procedures and processes, analyzes metrics and data such as cash flow, inventory, breakage, and employee activity that could uncover policy violations, collect and analyze documentation, statistics, reports, and market trends. Analyse internal business Systems to ensure compliance with established policies and procedures, Industry regulations and ethical standards.
- Organisation Policies; Establish policies and procedures to address risks in the organisation’s services and departments. Reviews and assesses risk management policies and procedures; makes recommendations and implements modifications and improvements.
- Reporting and Communication; Prepare and present to Management and the Board compliance reports useful in taking key business decisions. Drafts and presents Risk reports and proposals to improve the Risk Management in the institution.
- Risk Management Solutions; Recommends and implements solutions such as insurance, safety and security policies, Business Continuity Plans, or recovery measures and ensures that they are formally approved by the Board of Directors. Report on all events on system failures and other emergency issues.
- Training; Design and conduct training programs for cross-functional teams in Risk Management and Compliance and ensure that all the employees are thoroughly updated about the organization’s policies, regulations and processes.
- Supervise Compliance Officers.
- Perform any other relevant duties as may be assigned to him/her by the Supervisor that falls in the line with his/her area of jurisdiction.
Qualifications, Skills and Experience:
- Bachelor’s degree in a business-related field from a reputable University
- Master Degree in a business-related field; added Advantage.
- Minimum of 5+ years’ experience in a Risk Management or Audit in evaluating business operations in risk management, preferably from the microfinance, banking or financial services industry.
- Thorough understanding of policies and best practices of Risk and Compliance Management
- Relevant legal and regulatory knowledge of the Microfinance sector, Company’s Act, Financial and Accounting best practices, Taxation and Employment laws.
- Excellent oral and written communication skills; with skills related to the preparation and submission of regulatory, statutory and Risk/Compliance reports.
- Excellent organizational skills and attention to detail.
- Excellent time management skills with a proven ability to meet deadlines.
- Strong analytical and problem-solving skills.
- Strong supervisory and leadership skills.
- Proficient with Microsoft Office Suite or related software to prepare reports and policies.
- Age: 30-45 Years.
How to Apply:
If you think you meet the above criteria, please send your application with certified copies of academic and professional certificates, a CV, postal address, daytime telephone contact, names and details of at least three (3) referees. Deliver them physically or use the following email address: firstname.lastname@example.org to The Head of Human Resource
Deadline: 5th May 2023