Manager Compliance I at TCB Bank

Tanzania Commercial Bank is dedicated 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 is committed to 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.

Position Objective

The Manager Compliance I is part of the compliance division within the Risk Management and Compliance Directorate. The role involves tracking all compliance areas, preparing required reports to keep management informed through meetings and reports, reviewing compliance charters, policies, guidelines, and manuals to guide risk owners, and contributing to the establishment of the overall TCB Risk Register.

• Assist the Principal Compliance Officer and Chief Manager Compliance in overseeing day-to-day compliance management across the bank, driving and directing compliance on an end-to-end basis.
• Implement controls to meet regulatory and internal requirements and promote a strong compliance culture across directorates, departments, and branches.
• Collaborate with departments and branches on compliance matters to balance business growth with compliance and control mechanisms.
• Ensure proper functioning of day-to-day controls, periodic monitoring, and timely identification and 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 as per the approved 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 within the bank 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.
• Adhere to the compliance management framework for identifying, controlling, monitoring, and reporting compliance matters.
• Ensure sufficient actions are taken to mitigate, reduce, or contain identified compliance deviations and coordinate periodic monitoring (self-assessment) activities, escalating issues to the Director of Risk Management & Compliance when necessary.
• Ensure departments and branches comply with key regulations and internal standards to avoid penalties, sanctions, and fines.
• Assess and mitigate compliance risks associated with new and changed products, services, and business strategies.
• Ensure internal controls and procedures for money laundering, KYC, and fraud prevention are functioning as intended, with vigorous 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.
• Manage the Risk Register, encompassing the Compliance Dashboard of the Bank.
• Ensure compliance with regulations related to money laundering, counterfeiting, financing of terrorism, and the bank’s Code of Conduct.
• Issue alerts for unusual or suspicious customer activity and report promptly to the Money Laundering Reporting Officer (MLRO) and Financial Intelligence Unit (FIU).
• Participate in the bank’s new product development (PDP) to ensure compliance with all 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 and comprehensive compliance risk assessments and testing.
• Track compliance issues from metrics, assurance activities, audit reviews, and regulatory inspections, validating issues where necessary.
• Submit weekly GOAML transaction reports to the FIU via the GOAML portal system.
• Report Suspicious Transaction Reports (STRs) to the FIU via the GOAML portal and MLRO.
• Monitor transactions and perform other compliance-related duties as assigned by the Chief Manager Compliance.

Submit applications via the following link: https://www.tcbbank.co.tz/careers.