Risk & Compliance Officer at Jubilee General Insurance Company of Tanzania Limited - October 2024

Job Ref. No.: HRJLICTZ003
Job Type: Full-time
Application Deadline: October 7, 2024

Company Overview:

Jubilee Insurance, established in 1937, is the largest composite insurer in East Africa, offering Life, Pensions, General, and Medical Insurance across Kenya, Uganda, Tanzania, Burundi, and Mauritius. Jubilee is ISO certified and listed on the Nairobi, Dar es Salaam, and Uganda Stock Exchanges, with an A+ rating in Tanzania.

Role Purpose:

The Risk & Compliance Officer will ensure the organization adheres to regulatory and compliance requirements, while managing risk effectively. The role involves developing and implementing risk management strategies and policies to foster a culture of compliance and mitigate organizational risks.

Main Responsibilities:

1. Strategy:

• Develop risk management strategies aligned with the organization's objectives.
• Conduct regular risk assessments and maintain departmental risk registers.
• Recommend and support the implementation of risk mitigation measures.

2. Operational:

• Monitor compliance with laws, regulations, and internal policies.
• Perform periodic reviews to identify compliance gaps and recommend actions.
• Maintain external compliance obligations and ensure relevant Acts are followed.
• Train staff on compliance-related matters and maintain compliance records.
• Support incident management and implement corrective measures after incidents.
• Manage the company’s Business Continuity Plan (BCP).

3. Corporate Governance (Regulatory and Compliance):

• Stay updated on regulatory changes and industry best practices.
• Ensure compliance with regulatory requirements and corporate governance standards.
• Collaborate on preparing and submitting regulatory reports.

4. Money Laundering Reporting Officer:

• Ensure regulatory compliance for Anti-Money Laundering/Counter-Terrorism Financing (AML/CTF).
• Review and report Suspicious Transaction Reports (STRs).
• Maintain STR registers and AML/CTF risk identification and management.
• Provide updates to Senior Management and the Board on AML/CTF efforts.

5. Data Protection:

• Implement a compliance framework for Data Protection under the relevant Act.
• Conduct Privacy Impact Assessments and manage data protection governance.
• Serve as the Data Protection Officer and liaison with regulatory authorities.
• Ensure proper consent and privacy statements are used in the organization.

6. Leadership and Culture:

• Promote a culture of risk awareness and regulatory compliance.
• Provide guidance and leadership on risk and compliance matters.
• Lead by example in promoting ethical conduct and collaboration.

  Academic Qualifications:

  • Bachelor's degree in Finance, Business Administration, or a related field.
  • Professional certifications in risk management or compliance (e.g., Certified Risk Professional, Certified Compliance Professional) are desirable.

  Relevant Experience:

  • Minimum of 5 years' experience in risk management, compliance, regulatory affairs, and AML/CFT programs within financial industries such as insurance, investments, or banking.
  • Strong knowledge of regulatory requirements in the insurance sector.
  • Familiarity with risk management frameworks.

    Mode of Application:

    If you meet the qualifications and are looking for a new challenge, please apply by quoting the Job Reference Number and Position to career@jubileelifeinsurance.co.tz by October 7, 2024. Only shortlisted candidates will be contacted.