Product Review Officer at First Bank

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.