Promote, lead and manage the culture and practice of Legal & Compliance within regulatory and legal requirements, and ethical standards consistent with supporting the Group’s strategic direction and growth aspirations in Tanzania.
Establish and maintain frameworks within Tanzania to ensure compliance with applicable banking regulations, internal policies, procedures and codes so as to protect the reputation of the Group with its regulators and balance the needs of other stakeholders.
Identify, mitigate, monitor, manage and escalate, as appropriate, legal and regulatory risks in Tanzania working with the Business Legal & Compliance teams. Provide a single interface for the CEO in Tanzania for all Legal & Compliance issues.
Build and maintain a Legal & Compliance team that operates consistently and is recognised internally and externally as amongst the best in the market.
•Provide Legal support to the business, senior management and functions and Company Secretarial, Governance and Advisory support to the Board
•To lead in the proactive and strategic identification of legal and governance risks and effectively manage all legal issues in country.
•To drive the business through legal advice and transaction and product support to the relevant businesses.
Maintain close and open relationships with the regulators in Tanzania
Key Roles & Responsibilities
For the following functions: business, regional and country Compliance teams
Risk anticipation and mitigation
•Drive practices for proactively identifying regulatory risks in Tanzania and devise a Compliance plan to mitigate these and to prevent the occurrence of regulatory breaches.
•Ensure appropriate and effective risk based monitoring is conducted by Compliance in Tanzania.
•Work with the Area Head, Compliance, East Africa to define the roles and responsibilities of Compliance officers in country in relation to Regulatory Compliance to ensure greater focus on core activities designed to prevent and detect regulatory breaches.
•Drive the migration of best practice and lessons learned in Tanzania, especially in relation to compliance with banking and financial services regulation and internal policies and procedures.
•Build standardised processes and develop tools to drive efficiency and standardization.
•Work with the Area Head, Compliance, East Africa to continue to improve MI for risk and governance forums and for Compliance leadership.
•Collaborate with Business Compliance in relation to risk identification and mitigation.
•Drive the use of the Speaking Up channels to detect actual or potential regulatory breaches.
•Fulfil the role of Risk Control Owner (as defined in Risk Management Framework) in relation to Regulatory Compliance throughout Tanzania . Ensure that residual risks remain within acceptable risk levels by identifying material risks, maintaining an effective control environment and accepting or rejecting levels of residual risk in line with operational risk procedures.
Issues identification and management
•Ensure effective identification and management of legal and compliance risks and issues in Tanzania. Assume active involvement in problem-solving and crisis management over critical issues that have an impact on the Bank's business/operations in country.
•Working with Business Legal & Compliance where necessary, in the event of serious breaches or where risk tolerances have been breached, ensure Group, regional and country Senior Management are informed and that actions are taken quickly to remediate and/or activities are ceased.
•Advise the CEO and Country Operational Risk Committee on material Legal & Compliance issues as required and provide support to the country CEO on material legal and regulatory risk issues to ensure they establish and monitor appropriate arrangements for meeting legal and regulatory obligations and maintain high standards of conduct, in accordance with internal policies.
•Working with the Area Head, Compliance, East Africa, support the Regional Head, Compliance, MEPA in reporting to GEMCO and to Group on key regulatory issues and risks relating to Tanzania.
Regulatory relationships and regulatory reform
•Drive proactive regulatory engagement and ensure an effective Regulatory Relationship Plan is in place in Tanzania.
•Develop and embed best practices around regulatory inspections.
•Participate in local regulatory reform agendas, including identifying and escalating regulatory reform proposals early, through participation in industry forums and membership of local Government Relations and Regulatory Reform Forums (or equivalents) and feeding into Business Compliance.
Legal
•Leads in the proactive and strategic identification of legal risks at a country level.
•Provides timely legal advice, briefings and recommendations on key issues to stakeholders. .
•Prepares and coordinates regular and accurate country legal risk reports that provide clear analysis.
•Communicates identified risks to country, business and regional stakeholders and influences stakeholders to improve legal risk controls and governance at a country level.
•Contributes to Team Legal’s risk governance through providing country perspective on legal risk policies and procedures and ensuring consistency in the country’s approach to legal risk management. Responsible for rolling out Legal Risk policies and procedures in-country
•Acts as a central point of reference for Regional Head of Legal and the Head of Legal (West) and other members of the Legal Leadership Team
•To provide up-to-date and relevant guidance on the application and interpretation of laws, regulations and policies applicable to the business and functions.
•Management of all legal issues in country.
•Ensure that the legal team executes transactions and cases in a timely and effective manner.
•Manages the process of engaging external counsel, including effective instructions to external counsel and negotiating appropriate fee structures for the transaction / case in question.
•Supports and facilitates internal product development through the new products approval process.
•Develops appropriate forms of documentation for products and transactions in the country.
•Uses technical knowledge of all business products undertaken in the jurisdiction to provide sound, technical product, legal and transactional advice to the business and to anticipate the impact of legal developments on the business and communicate such impact to the business.
•Drives the development and maintenance of good relationships with internal and external business stakeholders at appropriate levels ensuring an open and cooperative environment
•Acts as a central point of reference for Regional Head of Legal and the Head of Legal (East/West) and other members of the Legal Leadership Team.
•Leads in the proactive and strategic identification of legal risks at a country level.
•Provides timely legal advice, briefings and recommendations on key legal issues to stakeholders.
•Raises awareness of legal risks and issues within business through specific legal training.
•Prepares and coordinates regular and accurate country legal risk reports that provide clear analysis. Communicates identified risks to country, business and regional stakeholders and influences stakeholders to improve legal risk controls and governance at a country level.
•Contributes to Team Legal’s risk governance through providing country perspective on legal risk policies and procedures and ensuring consistency in the country’s approach to legal risk management. Responsible for rolling out Legal Risk policies and procedures in-country.
Corporate Secretariat
•To serve as Company Secretary to the Subsidiary Board and Board Committees as appropriate and deliver a high quality, efficient and effective company secretarial service to the Board, its’ Committees, Directors, Shareholders and the business as a whole.
•Ensures compliance with the Subsidiary Governance Policy and the minimum standards for Company Secretaries set out therein.
•Ensures that the Board and any committees operate effectively, within their level of authority and that there is a robust planning process that takes into account the requirements of corporate governance and the business.
•Input to the Annual Report and Accounts and responsible for the organisation and running of the Annual General Meeting and other shareholder meetings as required.
•Ensures that newly appointed directors undertake a suitable induction, delivered to Group Standards, within 3 months of appointment and guides and advises on the ongoing development of all directors.
•In accordance with Group guidelines, establish a process for reporting and recording all directors’ conflicts of interest and ensure that all directors are aware of their reporting obligations in this regard.
•Ensures that all constitutional documents, along with any updates, and regulatory filings are filed with the elevant authorities in a timely manner.
Embedding the functional structure
•Work with the Area Head, Compliance, East Africa to set and implement strategy for the management of performance, including financial performance and staff achievement in Tanzania.
•Provide ideas and advice for solutions to achieve strategic objectives and help implement these through the country teams.
•Escalate information on country legal and regulatory developments and practices to the Area Head, Compliance, East Africa and the Regional Head of Legal.
•Own and proactively manage the country’s Legal & Compliance SSC budget.
•Ensure the function in Tanzania is appropriately resourced by competent staff sufficiently independent in performing duties objectively.
•Provide leadership, management and coaching of the Legal & Compliance function in Tanzania to ensure they are highly engaged and performing to their potential.
•Identify and develop talent in the Legal & Compliance function in Tanzania and drive engagement across the team.
•Oversee the implementation of Group Legal & Compliance policies and procedures through appropriate training and communication and, where necessary, recommend appropriate Legal & Compliance policies and procedures for approval by relevant committees. Support implementation of Business Legal & Compliance policies and procedures.
•Responsibilities exclude fraud-prevention and BCP/ Crisis Management.
Qualifications & Skills
•At least 5 years of experience in the legal and/or regulatory field or equivalent relevant legal experience.
•A strong understanding of the legal and/or regulatory environment in Tanzania.
•Strong analytical skills.
•Good judgment enabling the provision of sound advice in difficult areas of law, regulation and practice
•Personal authority, integrity and ethics.
•An inquisitive approach to practices, procedures and specific transactions.
•Ability to manage and give leadership to subordinates across Tanzania.
•Independence, robustness and resilience.
•Sharp business acumen, including the ability to assess risk.
•Strong leadership qualities, excellent inter-personal skills and multi-cultural awareness.
•Strong integrity, independence & resilience.
•Personal authority with proven ability to establish relationships and exert influence at senior levels of the Group and with regulators and other external stakeholders.
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Cntry Hd of Legal & Compliance at Standard Chartered Bank Tanzania
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