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Head – Risk & Compliance Vision Fund Zambia

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VisionFund Zambia Limited is part of a network of microfinance institutions within the VisionFund International network. We empower low-income entrepreneurs with access to integrated financial services that unlock their potential. We are part of World Vision, the largest global Christian humanitarian organization. In order to support our growth aspirations, we seek to recruit a qualified candidate who is self-motivated and results-oriented to fill the following position:

HEAD- RISK & COMPLIANCE

Reporting to: Chief Executive Officer          Location: Head Office – Lusaka

As the Head –Risk and Compliance, your job responsibilities involve the design and implementation of a robust Enterprise Wide Risk Management (EWRM) system and the monitoring of compliance within VFZ and its regulatory environment among other duties: The Head-Risk and Compliance (HRC) will be instrumental in managing the risk to the organization, its employees, customers, reputation, asserts and interest of stakeholders. He/she will also be responsible for reviewing the Credit application processing, the Credit Policy, Check acceptance procedure, debt collection, Suspense account reconciliation review reporting, all regulatory compliance and profitability of the organization.

Key Responsibilities:

  • Maintenance of the VFZ Risk register
  • Develop appropriate models for monitoring of the different risks faced by the business.
  • Follow up on Risk Mitigation actions with respective risk owners
  • Report on a monthly basis to the Executive team, the top ten (10) risks in the register and any movements within the register, clearly stipulating risk factors considered.
  • Report and present on a quarterly basis to the Audit and Risk Committee, the Risk and Compliance report alongside, the top 10 risks in the Risk register.
  • Monitor the attainment of approved standards on credit portfolio management.
  • Prepare exceptional reports on breach of tolerance limits set in the Risk Appetite Statement (RAS) and as required by the board.
  • Develop a Compliance universe for the organization
  • Work with the Operations department in the training of branch managers and credit officers to ensure maximum compliance within branch operations.
  • Work with line managers to perform compliance risk assessments and assign compliance obligations appropriately.
  • Develop a compliance audit plan based on the output from compliance risk assessments.
  • Monitor adherence to Company policies across the organization through methodical compliance reviews.
  • Assist in the review of various policies to bring them in line with any changes in the business and its environment.
  • Escalate exceptional issues identified in the course of branch/ departmental reviews to the Executive management for appropriate action within agreed timelines.
  • Escalate to the Audit and Risk Committee identified issues of non-compliance not attended to within a stipulated
  • Develop a proactive approach to regulatory interactions by managing key relationships with the regulator – Bank of Zambia (BoZ)
  • Advise Executive Leadership on regulatory changes likely to affect the achievement of business objectives.
  • Coordinate the process of information provision to BOZ during an inspection.
  • Develop an issue tracker that supports line managers in attending to issues raised following an inspection by BoZ.
  • Coordinate and work with relevant departments in attending to issues raised by eternal auditors and other assurance providers.
  • Review the work of Compliance Officers in the implementation of the Compliance Plan.
  • Identify and discuss training needs for the department with all subordinates.
  • Inspire subordinates to high standards of work in the execution of their duties.
  • Liaise with People and Culture department on any pertinent issues raised by subordinates.

Minimum qualification requirements and competencies:

  • Bachelor’s degree in Accountancy from a reputable university or college or Professional Accounting Qualification e.g. ACCA, CIMA or equivalent
  • Masters Degree in relevant field
  • At least 8 years’ experience at management level
  • Ready to comply and live up to and in accordance with the organization ideals and core values
  • Mature and committed Christian
  • Good analytical and report writing skills

Interested applicants should send a cover letter accompanied by a CV to the address below:

The Head- People & Culture

Plot 6810, Chiwalamabwe road

Olympia Park

P.O. Box 33911

Lusaka, Zambia

OR

email: employment@vfz.co.zm


Closing date 15th October, 2021      

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