Senior Risk & Compliance Officer

The UTT Microfinance Plc (UTT-MFI) is a public financial institution promoted  by the Government of the United Republic of Tanzania,  under the ambit of the Ministry of Finance. The UTT MFI which commenced its business operations on 1st July, 2013; was incorporated on 28th June, 2013 as a public company limited by shares under the Companies Act (Cap 212), to implement Government policies on the matters relating  to economic empowerment of the majority middle and low income Tanzanians. UTT MFI came into being as a result of the reorganization of Unit Trust of Tanzania (UTT) into three functional and independent companies.

The vision of UTT-MFI is “To be the leading Microfinance provider of quality and inclusive financial services in Tanzania”; while its  Mission is “To provide a sustainable and inclusive customer focused financial services network in Tanzania, thereby stimulating economic growth and empowerment using appropriate technology in a professional and ethical environment.”

The UTT Microfinance Plc now invites qualified, competent and energetic Tanzanians with outstanding work ethics and integrity to apply for the following vacant positions:

 1. Job Title: Senior Risk & Compliance Officer
Reference No. UTT-MFI/SRCO/0115/01

1.1 Reports to: the Chief Executive Officer.

1.2 Job Summary:

Formulate strategies on any potential risks to the profitability or existence of the company. Identify and assess threats, put plans in place for if things go wrong and decide how to avoid, reduce or transfer risks. Handle compliance issues relating to the day-to-day business of the Organization.

1.3 Key duties and responsibilities:

Functional Area: Risk Management
i. planning, designing and implementing an overall risk management process for the organization;
ii. risk assessment, which involves analyzing risks as well as identifying, describing and estimating the risks affecting the business;
iii. establishing and quantifying the organization’s 'risk appetite', i.e. the level of risk they are prepared to accept;
iv. risk reporting in an appropriate way for different audiences, for example, to the board of directors, Chief Executive Officer and Management, so that they understand the most significant risks, to business heads to ensure they are aware of risks relevant to their parts of the business and to individuals to understand their accountability for individual risks;
v. corporate governance involving external risk reporting to stakeholders;
vi. carrying out processes to limit risks and prepare for if things go wrong;
vii. conducting audits of policy and compliance to standards, including liaison with internal and external auditors;
viii. Providing support, education and training to staff to build risk awareness within the organization.
Functional Area: Compliance
i. Developing and implementing the relevant strategies to tackle compliance issues;
ii. Ensuring all aspects of compliance are dealt with in an appropriate manner;
iii. Lead the development of a continuous improvement process in this area;
iv. Liaise with senior management on a regular basis reflecting on the compliance aspect of their respective business units and suggest how to reduce compliance risk;
v. Develop and periodically review and update Standards of Conduct to ensure continuing currency and relevance in providing guidance to management and employees;
vi. Respond to alleged violations of rules, regulations, policies, procedures, and Standards of Conduct by evaluating or recommending the initiation of investigative procedures. Develop and oversee a system for uniform handling of such violations;
vii. Monitor, and as necessary, coordinate compliance activities of other departments to remain abreast of the status of all compliance activities and to identify trends;
viii. Identify potential areas of compliance vulnerability and risk; develop/implement corrective action plans for resolution of problematic issues, and provides general guidance on how to avoid or deal with similar situations in the future;
ix. Provide reports on a regular basis, and as directed or requested, to keep the senior management informed of the operation and progress of compliance efforts;
x. Ensure proper reporting of violations or potential violations to duly authorized enforcement agencies as appropriate and/or required;
xi. Institute and maintain an effective compliance communication programme for the organization, including promoting (a) heightened awareness of Standards of Conduct, and (b) understanding of new and existing compliance issues and related policies and procedures;
xii. Work with the Human Resources Department and others as appropriate to develop an effective compliance training programme, including appropriate introductory training for new employees as well as ongoing training for all employees and managers;
xiii. Monitors the performance of the Compliance Programme and relates activities on a continuing basis, taking appropriate steps to improve its effectiveness;
xiv. Perform any other duties as may be assigned by the Supervisor/ Chief Executive Officer.
1.4 Qualifications and Experience:

i. The holder of this position must have a first degree plus a Master Degree in either Business Administration, Banking & Finance, Economics, Risk Management Regulatory/ Compliance or other similar accreditation;
ii. A minimum of five years experience in the field of Risk Management and Compliance with a Bank/ Financial Institution with at least two years in middle or/and high management level;
iii. Advanced computer skills;
iv. Excellent written and verbal communications skills in English and Swahili.

1.      General Conditions:

a)      All the above positions carry an attractive remunerations package;

b)      Entry point will depend on a candidate’s qualifications and experience.

2.      Mode of Application:

Ø  All interested persons are required to apply attaching to their applications current Curriculum Vitae (CV), copies of academic certificates & transcript; including names and full communication addresses (including contact phone numbers) of three referees who can testify to the applicant’s academic abilities, working experience and character.

Ø  Please send your applications in an envelope clearly marked as “Application for employment at UTT-MFI”, quoting the relevant job reference number such that the same reaches not later than 5.00 p.m. on Monday, 23^rd February, 2015 to the following address:-

The Chief Executive Officer

UTT Microfinance Plc,

Sukari House, Ground Floor,

Sokoine Drive/Ohio Street,

P. O. Box 5474,

Dar es Salaam.

Note:  

a.      UTT-MFI is an equal opportunity employer. Candidates from disempowered group are encouraged to apply;

b.      Only short listed candidates will be contacted;

c.       Hand delivered applications will not be accepted;

d.      Applicants are warned not to make phone calls, physical or e-mail enquiries other than applying through the mode outlined above.  Any such breach will result in immediate disqualification.