Senior Compliance Officer

Purpose of the job/scope

As part of the Quality and compliance function, you will work in a small team responsible for ensuring. regulatory compliance and embedding a culture of learning and continuous improvement so that Bakaal Somalia can demonstrate the highest possible standards to our beneficiaries, partners, regulators, owners, and other stakeholders. In a fast-changing regulatory environment and as Bakaal Somalia continues to innovate and develop new programs of financial services, your role will be pivotal to maximizing our impact on people experiencing robust compliance management services.

As Senior Compliance Officer, you will work at the heart of Bakaal Somalia, enabling teams across the organization to effectively manage risks in the following areas:

-             Information governance and customer data management

-               Customer compliance and due diligence (KYC), monitoring & and evaluations.

-               Regulatory reporting and timely submission of documents

-             Review internal policies and Legal and regulatory compliance with government laws

-             Risk assessments, Safeguarding company reputation.

-             Risk management.

As well as building expertise within the company and working on a range of exciting new projects, you will capture learning and embed improved ways of working to ensure that our legal position is robust and we are upholding our core values as a financial service provider. Crucial to this role will be a proactive and pragmatic approach and the ability to manage complex technical information in complaint reports. You will have an excellent understanding of the legal and regulatory context in which Bakaal Somalia operates and be able to balance competing priorities while working as part of a small and collaborative team.

Bakaal Somalia operates within a financial service sector with around 20 local, and international organizations affiliated to us through a partnership agreement, quality assured through the Networks Team. This is a critical time for the whole Bakaal Somalia network as we seek to harness the strengths of this partnership model, understand our collective impact, and achieve collective growth, you will be expected to play an active role in supporting this development through effective Compliance Management.

Page 1 of 3

Job Description and Personal Specification

Key Responsibilities

1.    To support the smooth running of legal and compliance helpdesks, championing the highest levels of customer care and providing a responsive, high-quality service to operations across the company.

2.    As part of a team, to provide specialist advice and recommendations across a range of legal, compliance and data protection topics to support the development and mobilization of projects, partnerships and programs.

3.     To undertake legal and regulatory research and support the drafting of policy amendments, adjustments, resources, and guidance.

4.    To deliver key aspects of quality compliance Management, risk assessments, and reporting frameworks.

5.    To support the development and implementation of relevant policies, processes, and procedures, maintain an appropriate review cycle and ensure joined-up working is taking place across the wider teams to support and achieve the company’s strategic compliance objectives.

6.     To carry out/coordinate a program of training and capacity-building activities for staff /agents across Bakaal Somalia, covering

all key areas of legal compliance, policy, and high-standard practices.

7.    In partnership with the Bakaal Networks, develop and deliver new ways

of working that strengthen our partnership with the affiliates of Bakaal Somalia. This will include sharing resources, knowledge, and expertise to promote regulatory compliance and continuous improvement.

8.     To conduct regular analyses of data and prepare reports relating to Bakaal Somalia’s quality, risk regulations, and compliance portfolios.

9.    To lead on aspects of Internal Audits to ensure that robust policies, procedures, and controls are in place, meet the company’s needs, and processes are effectively implemented.

10. To create and maintain documentation that provides evidence of legal and regulatory compliance, particularly about the CBS departments.

11.  Undertake any other reasonable and related tasks associated with this role.

Expectations

All members of staff at Bakaal Somalia are expected to embody our mission, values and competencies. This includes

an expectation that they will:

Show passion for what Bakaal Somalia does and the changes that we are making for our beneficiaries and partners.

Work collaboratively across teams, departments, and locations as needed.

Stand up for what they believe is best and trust in themselves and each other.

Be open to others and ourselves and show a commitment to learning.

Be open to change and respond flexibly and quickly to adopt new missions.

Person Specification

Essential Criteria

1.     Demonstrable understanding of the legal and regulatory context o f S o m a l i a within which Bakaal Somalia operates, gained through experience in a comparable environment.

2.    Proven ability to assess complex scenarios to give high-quality advice and identify pragmatic solutions.

3.    Good knowledge of compliance management, rules, and best practices.

4.    Basic knowledge of Service commercials or contract law.

5.    Excellent writing skills and proven ability to present complex information with attention to detail. Good legal drafting skills.

6.    Ability to use own initiative and manage multiple tasks with minimum supervision.

7.    Ability to work to tight deadlines.

8.    Ability to quickly establish personal credibility and to develop and maintain effective relationships, including working with people with differing perspectives and agendas.

9.    Excellent teamwork skills.

10. The ability to maintain discretion to deal appropriately with confidential information.

11. High degree of IT literacy, with good experience of using Microsoft Office (Word, Excel, Outlook, PowerPoint). Excellent document and formatting skills.

12. Knowledge and understanding of equality and diversity and what this means in relation to this post and the ability to incorporate this into all aspects of work.

13. Willingness to travel and work some unsocial hours.

Desirable Criteria

14.  Legal qualification or experience in a relevant area of Somalia laws governing the financial sector, commercial or contract law.

15. Experience in supporting data protection compliance in practice, e.g. subject access requests, impact assessments, data security, and breach management.

16. Knowledge of the legal and regulatory framework applicable to registered Charities.

17. Excellent legal drafting skills.

18. An understanding of Bakaal Somalia and its networks, or similar structures within the voluntary sector.

19. Knowledge or understanding of mental health issues.

Apply by sending your application letter, certificates, and CV addressed to the Human Resources Manager, 

Bakaal Somalia head office, on the email address [email protected]. Your cover letter must indicate

your current position. The closing date is strictly 18:00 EAT, 5th March 2024.