Risk and Compliance Manager
BRED (Vanuatu) Limited is part of the second largest banking group in France, “Banque Populaire”, which also has regional outlets in New Caledonia, Tahiti, Vanuatu, Fiji and Solomon Islands. With an established presence across retail, commercial and corporate banking, opportunities are available for suitably experienced and qualified Risk and Compliance Manager to be based in Port Vila.
Reporting to Chief Risk Officer (CRO), this role is responsible for overseeing the Bank’s AML compliance management activities in accordance with regulatory requirements. In addition, it is to provide continued assurance on the effectiveness of the Bank’s internal second level controls and coordinate the process of risk identification, evaluation and recommendation to ensure the Bank’s overall operations comply with internal and external rules, regulations and procedures. In general, the Risk and Compliance framework.
KEY RESPONSIBILITIES & ACCOUNTABILITIES:
- In charge of the overall supervision of the Department and providing insight and advice on the total risk position of the Bank to the Chief Risk Officer (Region) and Chief Executive Officer.
- Establish a common and accepted risk culture throughout the Bank;
- Monitor the compliance risk portfolio, recommending to the General Manager and the member of the BOD to monitor closely or refuse different types of risk (per risk category, product, customer group, industry, country etc);
- Provide insight and advice on the total compliance requirements and risk position of the Bank;
- Lead the development of targeted compliance strategies through consideration of present and emerging compliance requirements and risk position of the Bank;
- Assure appropriate training is undergone by employees regarding AML issues and policies to permit complete understanding by all;
- Perform regular controls on all accounts held at Bred to detect any suspicious activities and assuring compliance with reporting requirements from FIU and Head Office;
- Alert officials on transactions of a suspicious nature and international & cash transactions to be reported according to Vanuatu regulations.
- To provide continued assurance on the effectiveness of the Bank’s internal second level controls and coordinate the process of risk identification, evaluation and recommendation to ensure that the Bank’s overall operations comply with internal and external rules, regulations and procedures. In general risk and compliance framework.
- Supervises, plans and carries out regular second level (mid specialist) permanent controls as provided under the Control Plan.
- Analyze compliance risk for the banking industry and establish effectives controls as a response to mitigate such risk exposure to an acceptable level.
- Measure the net risk through collection and analysis of indicators collected.
- Perform regulatory gap assessment.
- Carries out special assignments, investigations or reviews that may be requested for by the Risk Committee and Management.
- Prepare and issue periodic reports for top-level management based on internal reviews and advise the executives on risk mitigation measures and implementation of adequate compliance programs.
REQUIRED COMPETENCIES:
- Experience – minimum of 5+ years as a professional in a banking and/or financial environment with broad knowledge and understanding of risk and control concept;
- Have at least a minimum of 3 years of experience in internal control and/or audit functions within a financial environment;
- Robust knowledge and understanding of banking systems, procedures and policies;
- Experience in Credit, AML/Compliance, Financial and Operational banking activities;
- Solid analytical skills and numeric skills and capability;
- Logical and practical approach to identifying and evaluating issues and problem solving;
- Accurate methodical including analytical and summarizing skills;
- Demonstrate persistency and determination in challenging situations;
- Professional/specialist knowledge – problem solving analysis, risk assessment capabilities, financial analysis, legal analysis, customer focus, persuasive communication and being able to understand compliance & risk is a must
- Ability to organize and prioritize in situations where changes are frequent
- Tertiary Qualification is preferable. At least a University Degree in Accounting, Banking and Finance, Business Management, Commercial Law or a Business-related field from a credible tertiary institution;
- Bi-Lingual is an advantage in this working environment;
- Open to Ni-Vanuatu citizens, Vanuatu residents and regional applicants.
REMUNERATION:
- Remuneration package is negotiable.
DATE:
- All applications entailing your letter of interest and CV should be submitted by 28 April 2025.
- Applications to be marked “Risk & Compliance Manager – Application” and sent via email to jobs@bred.vu
- Only short-listed candidate(s) will be contacted for interview.
