Job Opportunity: Senior Manager Compliance I at Tanzania Commercial Bank
Overview
Tanzania Commercial Bank is committed to providing competitive financial services and creating value for stakeholders through innovative products, with a vision to be the leading bank in Tanzania for affordable, accessible, and convenient financial services. The bank prioritizes organizational development and effective human capital management by attracting, retaining, and developing a highly capable and qualified workforce to advance its goals and contribute to the nation.
Job Details
Position: Senior Manager Compliance I
Rank: Principal Compliance Officer I
Department: Risk Management and Compliance
Section: Risk Management
Salary Scale: COBSS 9 (Principal Level I)
Reports to: Chief Manager Compliance
Location: Dar es Salaam
Application Deadline: August 17, 2025
Position Objective
The Senior Manager Compliance I ensures the bank adheres to legal and regulatory requirements, industry standards, and internal policies. This role involves developing and implementing compliance programs, conducting audits, providing training, mitigating risks, acting as a liaison with regulatory bodies, and managing the organization’s compliance programs, policies, and practices. The position plays a critical role in risk management, implementing and monitoring controls, and advising leadership on compliance matters.
Key Responsibilities
Provide leadership to create a working environment conducive to achieving budgeted KPIs, mentoring and training employees to reach their full potential.
Monitor and control operating costs to ensure budget compliance and address unfavorable cost variances promptly.
Implement employee performance management processes to optimize performance and address substandard behavior or performance.
Assist the Director of Risk Management and Compliance and Chief Manager Compliance in overseeing day-to-day compliance management, tracking, and monitoring across the bank.
Implement controls to meet regulatory and internal requirements and promote a strong compliance culture across directorates, departments, and branches.
Develop, review, and update compliance policies and procedures to align with relevant laws and regulations.
Conduct risk assessments to identify potential compliance risks and vulnerabilities in operations and processes.
Regularly review business operations, transactions, and records to identify potential compliance issues or deviations.
Develop and deliver training sessions on compliance requirements and best practices for all staff.
Lead investigations into potential compliance violations and collaborate with stakeholders to resolve issues.
Liaise with external auditors, regulators, and other relevant bodies on compliance matters.
Maintain accurate records of all compliance activities, including audits, investigations, and training sessions.
Stay updated on changes in laws, regulations, and industry standards impacting the organization.
Foster a culture of ethical conduct and compliance throughout the organization.
Work with departments and branches to balance business growth with compliance and control mechanisms.
Ensure proper functioning of day-to-day controls, periodic monitoring, and timely reporting of significant compliance breaches to prevent losses, penalties, or sanctions.
Document and implement controls to ensure compliance with Bank of Tanzania regulations and internal standards per the TCB Strategic Plan, budget, policies, manuals, and circulars.
Provide assurance on policy implementation and quality of controls as part of the second line of defense.
Act as a reference point to facilitate and promote understanding of compliance requirements and issues.
Ensure effective policy implementation, proper communication of new regulations, and quality assurance in control measures and monitoring plans.
Design and implement control measures and monitoring plans for effective compliance adherence.
Ensure adherence to the compliance management framework for identifying, controlling, monitoring, and reporting compliance matters.
Ensure departments and branches comply with key regulations and internal standards to avoid penalties, sanctions, and fines.
Mitigate, reduce, or contain identified compliance deviations through periodic monitoring and escalate issues to the Director of Risk Management and Compliance when necessary.
Assess and mitigate compliance risks associated with new and changed products, services, and business strategies.
Assist in preparing compliance profiles and reports for the Executive Committee and Board of Directors, ensuring accuracy and completeness.
Lead efforts to enhance the general compliance culture through communication, training, and other initiatives.
Ensure internal controls and procedures for money laundering, KYC, and fraud prevention are functioning as intended, with follow-ups on deviations.
Identify gaps and conduct staff training on compliance matters for all TCB staff.
Review the quality of controls, including validation of Key Risk Indicators (KRIs), as part of the second line of defense.
Develop, update, and manage the Risk Register, encompassing the Compliance Dashboard of the Bank.
Ensure compliance with regulations on money laundering, counterfeiting, financing of terrorism, and the bank’s Code of Conduct.
Review transaction monitoring alerts for unusual or suspicious customer activity.
Participate in the bank’s new product development (PDP) to ensure compliance with governing laws, regulations, guidelines, and policies.
Ensure regulatory requirements for publications, displays, and security tools are implemented across the branch network and the entire bank.
Monitor compliance with internal policies, procedures, guidelines, and regulatory requirements through regular risk assessments and testing.
Track compliance issues from metrics, assurance activities, audit reviews, and regulatory inspections, validating issues where necessary.
Ensure senior management is informed of serious regulatory breaches or exceeded risk tolerances.
Perform other duties as assigned by the superior.
Qualifications, Skills, and Experience
Master’s degree in Banking, Economics, Commerce, Business Administration (majoring in Accounting or Finance), Risk Management, Agricultural Economics, Insurance, Marketing, Statistics, or Banking from a recognized university or equivalent qualifications.
Minimum of 16 years’ working experience in a related field.
Computer literacy with excellent command of Excel and Word processing.
Certifications in Compliance Management are an added advantage.
Sound knowledge of banking acts, regulations, circulars, and best practices.
Knowledge of other relevant acts, laws, regulations, and circulars contributing to effective compliance management.
Strong leadership and people management skills.
Strong technical skills in compliance matters, identification, monitoring, and reporting.
Ability to prioritize tasks and stay organized.
Capability to work independently with minimal supervision.
Adherence to regulations, company policies, and regulatory knowledge.
Team player with ethical conduct.
Strong problem-solving, analytical, communication, and interpersonal skills.
Personal Attributes and Behavioral Competencies
Demonstrates Tanzania Commercial Bank core values: Customer Focus, Trustworthy, Creativity, Teamwork, and Excellence.
Ability to prioritize work and meet deadlines.
Capable of implementing projects/programs according to set objectives and timelines across a wide business platform.
Exhibits sound judgment, common sense, and good humor.
Strong leadership and people management skills.
Strong business acumen with the ability to grow business.
Ability to build effective relationships with all stakeholders.
Self-driven with a results-oriented mindset.
Effective data analysis skills.
Produces efficient and high-quality audit reports.
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