VisionFund Tanzania Microfinance Bank Ltd (VFT MFB) formerly known as SEDA is a fast growing and reputable Micro Finance Bank (MFB), has a loan book of more than TZs. 44 billion and more than 60,000 customer base, more that 5,000 of them being small holder farmers. VFT-MFB is seeking to employ a dynamic and committed Tanzanian young men & women who have passion for people\u2019s economic development to fill in the vacant position detailed here below;
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\nJob Vacancy: Compliance Manager
\nWork Reference No.:\u00a026\/25
\nPosition:\u00a0Compliance Manager
\nReporting to:\u00a0Head of Risk and Compliance
\nJob Purpose:
\nThe Compliance Manager ensures the bank complies with all applicable regulatory requirements, internal policies, and ethical standards. The role leads the implementation of the compliance framework, monitors regulatory risks, supports AML\/CFT efforts, and fosters a culture of compliance across the institution.<\/p>\n
Main Responsibilities:<\/p>\n
Regulatory Compliance<\/p>\n
Ensure VFT\u2019s full compliance with applicable laws, regulatory requirements, and guidelines issued by the Central Bank and other regulators (e.g., BAFIA, Country Labor Laws, AML\/CFT, KYC, data protection, consumer protection).
\nConduct annual regulatory gap analysis and recommend the establishment or enhancement of missing controls.
\nMaintain the regulatory tracking log and ensure timely submission of all regulatory reports and returns.
\nAct as the primary liaison with regulatory bodies and manage regulatory inspections or audits.<\/p>\n
Compliance Monitoring & Testing<\/p>\n
Develop and implement compliance monitoring plans to assess adherence to internal policies and external regulations.
\nAnnually revise compliance working papers and reporting templates to support risk and compliance officers in conducting regular compliance reviews.
\nConduct regular compliance reviews and assessments across departments.
\nReport breaches, non-compliance, and gaps with corrective action plans.
\nProvide oversight to Risk and Compliance Officers for all regulatory and internal compliance requirements.<\/p>\n
Policies and Procedures<\/p>\n
Assist the Head of Risk and Compliance in developing, renewing, and enforcing compliance-related policies and procedures.
\nEnsure all internal policies align with legal, regulatory, and best practice requirements.
\nTrack and report compliance issues, breaches, and key compliance indicators to senior management.
\nLead internal compliance reviews and investigations of potential breaches.
\nMaintain a centralized repository of current compliance policies and procedures, ensuring accessibility and version control for all stakeholders.<\/p>\n
Training & Awareness<\/p>\n
Develop and implement an annual compliance training plan for the Risk and Compliance Team and VFT staff.
\nAnnually review and develop internal controls training materials for staff.
\nConduct training for the Risk and Compliance Team on compliance risk assessments, root cause analysis, and other compliance-related topics.<\/p>\n
Reporting<\/p>\n
Prepare and submit monthly compliance reports to management.
\nReview and submit compliance review reports conducted by Risk and Compliance Officers from all regions in a timely manner.
\nMaintain compliance dashboards and key performance indicators (KPIs) for the bank and Risk and Compliance Officers.<\/p>\n
Performance Appraisal Responsibilities<\/p>\n
Lead the performance appraisal process for Risk and Compliance Officers, ensuring alignment with departmental goals and regulatory expectations.
\nSet clear performance objectives and KPIs for compliance staff, focusing on effectiveness, timeliness, and accuracy of compliance activities.
\nConduct regular performance reviews, provide constructive feedback, and identify areas for improvement and professional development.<\/p>\n
Advisory and Supervisory Role<\/p>\n
Provide compliance advisory services to business units on new products, partnerships, or initiatives.
\nParticipate in product development and project committees to ensure regulatory compliance.
\nAdvise senior management on emerging regulatory risks, changes in laws, and strategic compliance implications.<\/p>\n
Required Skills, Knowledge, and Competencies:<\/p>\n
Bachelor\u2019s degree in Law, Finance, Risk, Business, or a related field (professional certifications such as CPA, ACCA, CAMS, CISA, or ICA preferred).
\nAt least 5 years of experience in banking compliance, legal, or audit roles.
\nStrong knowledge of regulatory frameworks governing the banking sector.
\nExperience with AML\/CFT, KYC, and consumer protection regulations is essential.
\nStrong analytical and investigative skills.
\nAbility to influence and advise senior management and business teams.
\nDetail-oriented with strong problem-solving capabilities.
\nUnderstanding of ESG and data privacy regulations is an added advantage.
\nStrong experience in working in an anti-money laundering environment, preferably evidenced by a relevant qualification.<\/p>\n
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\nAttributes Desired for All Positions<\/p>\n
Honest, hardworking, friendly, and focused.
\nLocal language skills.
\nHigh standards in regard to quality of work.
\nAble to work independently and as a team member.
\nAttention to detail.
\nExperience in banking or microfinance.
\nCommitment to the social mission of microfinance.<\/p>\n
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