Job Opportunity: Senior Manager Compliance I at Tanzania Commercial Bank
\nOverview
\nTanzania 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.
\nJob Details<\/p>\n
Position: Senior Manager Compliance I
\nRank: Principal Compliance Officer I
\nDepartment: Risk Management and Compliance
\nSection: Risk Management
\nSalary Scale: COBSS 9 (Principal Level I)
\nReports to: Chief Manager Compliance
\nLocation: Dar es Salaam
\nApplication Deadline: August 17, 2025<\/p>\n
Position Objective
\nThe 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\u2019s compliance programs, policies, and practices. The position plays a critical role in risk management, implementing and monitoring controls, and advising leadership on compliance matters.
\nKey Responsibilities<\/p>\n
Provide leadership to create a working environment conducive to achieving budgeted KPIs, mentoring and training employees to reach their full potential.
\nMonitor and control operating costs to ensure budget compliance and address unfavorable cost variances promptly.
\nImplement employee performance management processes to optimize performance and address substandard behavior or performance.
\nAssist the Director of Risk Management and Compliance and Chief Manager Compliance in overseeing day-to-day compliance management, tracking, and monitoring across the bank.
\nImplement controls to meet regulatory and internal requirements and promote a strong compliance culture across directorates, departments, and branches.
\nDevelop, review, and update compliance policies and procedures to align with relevant laws and regulations.
\nConduct risk assessments to identify potential compliance risks and vulnerabilities in operations and processes.
\nRegularly review business operations, transactions, and records to identify potential compliance issues or deviations.
\nDevelop and deliver training sessions on compliance requirements and best practices for all staff.
\nLead investigations into potential compliance violations and collaborate with stakeholders to resolve issues.
\nLiaise with external auditors, regulators, and other relevant bodies on compliance matters.
\nMaintain accurate records of all compliance activities, including audits, investigations, and training sessions.
\nStay updated on changes in laws, regulations, and industry standards impacting the organization.
\nFoster a culture of ethical conduct and compliance throughout the organization.
\nWork with departments and branches to balance business growth with compliance and control mechanisms.
\nEnsure proper functioning of day-to-day controls, periodic monitoring, and timely reporting of significant compliance breaches to prevent losses, penalties, or sanctions.
\nDocument and implement controls to ensure compliance with Bank of Tanzania regulations and internal standards per the TCB Strategic Plan, budget, policies, manuals, and circulars.
\nProvide assurance on policy implementation and quality of controls as part of the second line of defense.
\nAct as a reference point to facilitate and promote understanding of compliance requirements and issues.
\nEnsure effective policy implementation, proper communication of new regulations, and quality assurance in control measures and monitoring plans.
\nDesign and implement control measures and monitoring plans for effective compliance adherence.
\nEnsure adherence to the compliance management framework for identifying, controlling, monitoring, and reporting compliance matters.
\nEnsure departments and branches comply with key regulations and internal standards to avoid penalties, sanctions, and fines.
\nMitigate, reduce, or contain identified compliance deviations through periodic monitoring and escalate issues to the Director of Risk Management and Compliance when necessary.
\nAssess and mitigate compliance risks associated with new and changed products, services, and business strategies.
\nAssist in preparing compliance profiles and reports for the Executive Committee and Board of Directors, ensuring accuracy and completeness.
\nLead efforts to enhance the general compliance culture through communication, training, and other initiatives.
\nEnsure internal controls and procedures for money laundering, KYC, and fraud prevention are functioning as intended, with follow-ups on deviations.
\nIdentify gaps and conduct staff training on compliance matters for all TCB staff.
\nReview the quality of controls, including validation of Key Risk Indicators (KRIs), as part of the second line of defense.
\nDevelop, update, and manage the Risk Register, encompassing the Compliance Dashboard of the Bank.
\nEnsure compliance with regulations on money laundering, counterfeiting, financing of terrorism, and the bank\u2019s Code of Conduct.
\nReview transaction monitoring alerts for unusual or suspicious customer activity.
\nParticipate in the bank\u2019s new product development (PDP) to ensure compliance with governing laws, regulations, guidelines, and policies.
\nEnsure regulatory requirements for publications, displays, and security tools are implemented across the branch network and the entire bank.
\nMonitor compliance with internal policies, procedures, guidelines, and regulatory requirements through regular risk assessments and testing.
\nTrack compliance issues from metrics, assurance activities, audit reviews, and regulatory inspections, validating issues where necessary.
\nEnsure senior management is informed of serious regulatory breaches or exceeded risk tolerances.
\nPerform other duties as assigned by the superior.<\/p>\n
Qualifications, Skills, and Experience<\/p>\n
Master\u2019s 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.
\nMinimum of 16 years\u2019 working experience in a related field.
\nComputer literacy with excellent command of Excel and Word processing.
\nCertifications in Compliance Management are an added advantage.
\nSound knowledge of banking acts, regulations, circulars, and best practices.
\nKnowledge of other relevant acts, laws, regulations, and circulars contributing to effective compliance management.
\nStrong leadership and people management skills.
\nStrong technical skills in compliance matters, identification, monitoring, and reporting.
\nAbility to prioritize tasks and stay organized.
\nCapability to work independently with minimal supervision.
\nAdherence to regulations, company policies, and regulatory knowledge.
\nTeam player with ethical conduct.
\nStrong problem-solving, analytical, communication, and interpersonal skills.<\/p>\n
Personal Attributes and Behavioral Competencies<\/p>\n
Demonstrates Tanzania Commercial Bank core values: Customer Focus, Trustworthy, Creativity, Teamwork, and Excellence.
\nAbility to prioritize work and meet deadlines.
\nCapable of implementing projects\/programs according to set objectives and timelines across a wide business platform.
\nExhibits sound judgment, common sense, and good humor.
\nStrong leadership and people management skills.
\nStrong business acumen with the ability to grow business.
\nAbility to build effective relationships with all stakeholders.
\nSelf-driven with a results-oriented mindset.
\nEffective data analysis skills.
\nProduces efficient and high-quality audit reports.<\/p>\n
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