Compliance Officer

August 10, 2022

Job Description

  • Lagos

RMB Private Bank

RMB Private Bank is a division of FirstRand Bank Limited, a fully integrated financial services group in South Africa, distinguished by our traditional values and innovative ideas. We have adapted investment banking solutions to suit your personal financial needs and this, together with an entrepreneurial approach, attracts like-minded, discerning clients. One of our key focus areas is Wealth and Legacy Management. Based on an in-depth understanding of your aspirations and needs, we create solid financial plans that help you to enjoy, manage, protect and grow your wealth for future generations.
Our ability to deliver on our objectives is directly attributable to our people, and our search for top talent is a priority. In return, we provide a challenging, fast paced environment with the opportunity for growth and development. RMB Private Bank offers a range of services including Portfolio Management, Trust and Fiduciary Services, Wealth Management and Transactional Banking for the discerning client to leave a legacy.
We are recruiting to fill the position below:

Job Title: Compliance Officer
Location: Lagos
Employment Type: Full-time
About the Job

The role holder will support the Compliance team in driving, coordinating, and monitoring initiatives and actions to ensure RMB Nigeria (“the Bank”) operates by all relevant Nigerian and South African banking laws, regulations, internal policies, and frameworks including those relevant to Anti-Money Laundering and Counter Financing of Terrorism (AML/CFT/CPF).

Compliance Frameworks and Policies:

Provide support to the team in promoting a good and effective compliance culture within the Bank
Responsible for implementation of Financial Crime and Regulatory Risk circulars, regulations, policies, and frameworks
Ensure AML/CFT/CPF regulations, policies and requirements are clearly communicated to the business and functions
Provide support with creating awareness on crucial Compliance policies and frameworks to the businesses and functions
Provide support to the team in identifying and embedding new/amended laws, regulations, and internal and Group policies
Provide support to the team in managing and coordinating Compliance training programmes for the businesses and functions
Provide support to the team on ad hoc Compliance Monitoring and other regulatory activities that may occur from time to time

Transaction Monitoring:

Identify and report ‘red flag’ transactions for further review and action
Review transaction alerts and refers suspicious transactions to a designated authority for a decision on reporting
Prepare Suspicious Transaction Reports in the required format to the Nigeria Financial Intelligence Unit (NFIU)

Compliance Advisory:

Provide timely regulatory advice and recommendations on key issues such as account opening requirements etc. to the businesses and functions
Support the team with handling or responding to regulatory enquiries or issues that affect the Bank
Provide support to the team in the implementation of country-level programmes and initiatives to enhance the Bank’s AML/CFT/CPF processes where required
Provide support to the Compliance team to ensure that the procedures and controls in place are operating effectively to mitigate money laundering risks

Financial Crime:

Prepare and submit approved Customer Transaction Reports (CTR), Foreign Transaction Report (FTR) and Suspicious Transaction Reports (STR) timely to the NFIU and other relevant regulatory authorities
Prepare and submit all monthly, quarterly, semi-annual and annual financial crime returns to CBN, SEC and NFIU
Attend to Law Enforcement Agencies (EFCC and NFIU) clients’ enquiries and respond accordingly
Prepare and provide support where required on all other Compliance reports submitted periodically (monthly, quarterly and annually) to the regulatory authorities
Provide support in ensuring that the regulatory returns database for the Bank is complete and updated regularly
Responsible for Financial Crime Group Internal Audit and Examination

Nigeria Sustainable Banking Principle (NSBP) / Environmental and Social Risk Assessments (ESRA):

ESRA Implementation and Control Management – Improving requisite controls and seamless application of the ESRA process for the Bank
ESRA Procedures Development and Resolution Process – Formalisation of these controls and their application in line with FirstRand Limited’s ESRA Procedure. Escalating issues and unresolved queries to the RMB International ESRA specialist, FirstRand ESRA team and the Social and Ethics Committees
Environmental and Social Risk Assessments – Performing Environment and Social Risk Assessments on financing deals and managing external consultants when third-party project reviews are required about Equator Principle transactions
Environmental Risk Reporting – Managing, monitoring and reporting the environmental aspects of the Bank’s sustainability reporting such as ‘Number of Equator Principles deals financed’, Number of ESRA deals reviewed’, Number of ESRA deals financed’
Managing, monitoring and reporting RMBN’s Sustainability compliance reporting to the CBN
Representing the Bank in all NSBP forums organised by the CBN and other local forums

Qualifications and Experience

University First Degree in Arts and Social Sciences or a related discipline
Professional Qualification will be an added advantage
Compliance Certification (s) – ACAMS, ICA or CFE will be an added advantage.
Strong academic record
Minimum of six (6) years of experience in a similar role

Technical Skills:

Proficient in MS Office
Strong numerical skills
Knowledge of global and local KYC / AML regulations and associated requirements
Knowledge of CBN banking regulations (including foreign exchange regulations), SEC regulations, NSE regulations and any other regulations pertaining to Banks and the Financial services industry
Knowledge of Banking operations and an understanding of the merchant banking business.


Attention to detail with strong problem-solving skills
Ability to take initiative and improve existing processes where required
A high level of pragmatism tempered with the strength to stand firm where necessary
Ability to deal with criticism

Human Relations Profile:

Good character with high ethical standards and integrity
Strong interpersonal skills and team-oriented
A high degree of self-confidence with a pleasant personality
Good communication and writing skills
Well-organised, good time management skills and disciplined
Self-starter able to work with minimal supervision
Ability to work under pressure and extended hours if needed

Application Closing Date
Not Specified.
Method of Application
Interested and qualified candidates should:
Click here to apply online

To apply for this job please visit


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