Job Description
Job Ref. No: JHIL087
Position: Senior Compliance Officer
Jubilee Insurance was established in August 1937, as the first locally incorporated Insurance Company based in Mombasa. Jubil ee
Insurance has spread its sphere of influence throughout the region to become the largest Composite insurer in East Africa, handling
Life, Pensions, General and Medical Insurance. Today, Jubilee is the number one insurer in East Africa with over 450,000 clie nts. Jubilee
Insurance has a network of offices in Kenya, Uganda, Tanzania, Burundi, and Mauritius. It is the only ISO certified insurance group
listed on the three East Africa stock exchanges – The Nairobi Securities Exchange (NSE), Dar es Salaam Stock Exchange and Uganda
Securities Exchange. Its regional offices are highly rated on leadership, quality and risk management and have been awarded an AA-
in Kenya and Uganda, and an A+ in Tanzania. For more information, visit www.JubileeInsurance.com.
We currently have an exciting career opportunity for a Senior Compliance Officer within Jubilee Health Insurance Limited.
The position holder will report to the Manager - Risk, Compliance & Money Laundering Reporting and will be based at our Head
Office in Nairobi.
Role Purpose
The Senior Compliance Officer serves as key second line of defense role to ensure compliance with corporate initiatives and t o
ensure line of business and departmental processes comply with applicable law and regulations. The role holder will play a vital role
in promoting a strong compliance culture, identifying potential compliance risks, and implementing effective strategies to mi tigate
those risks.
Main Responsibilities
Strategy
1. Develop, implement, and maintain compliance policies, procedures, and controls to address regulatory obligations and minimize
compliance risks.
2. Review Company process/operational manuals and systems to ensure that are regularly updated to meet the set regulations,
policies, and all other requirements such as mandates, escalations, controls, etc. are in place and aligned.
3. Identifying areas of compliance weakness and recommend remedial measures in consultation with the CEO’s, Heads of
Departments, Compliance Manager, and IT Risk & Compliance Manager.
4. Stay abreast of the evolving compliance landscape in the insurance sector, identifying emerging risks and opportunities to enhance
the compliance program.
5. Drive continuous improvement initiatives within the compliance function, leveraging technology and process enhancements.
6. Collaborate with executive leadership to communicate compliance-related strategies and their impact on business operations.
Operational
1. Implement and maintain effective internal controls to prevent and detect potential compliance violations within insurance
operations.
2. Work closely with all departments to ensure a cohesive approach to compliance within the company.
3. Work with Internal Audit on their recommendation on compliance related issues for implementation.
4. Preparing and presenting compliance reports to various stakeholders
5. Coordinating the Anti–Money Laundering, Data Protection, and other regulatory activities.
6. Conducting continuous audits, reviews, and enhancements of compliance on processes/ systems/documents and manuals with
reference to laid down policies, regulations, laws and best practices in the line of business.
7. Ensures that applicable regulation is complied with by the business lines and support functions through day-to-day monitoring and
regular review of compliance to legislation, regulations and internal policies and controls.
8. Ensures that Compliance risks are identified, assessed, controlled, and enforced through business and support specific policies &
procedures.
9. Identification and reporting of suspicious transactions.
Corporate Governance
1. Monitor and interpret insurance-related regulations, and guidelines to ensure the organization's compliance.
2. Conduct periodic assessments and audits to identify vulnerabilities and recommend appropriate mitigation measures.
Culture
1. Promote and reinforce a strong culture of compliance throughout the organization, emphasizing the importance of AML and
reporting obligations.
2. Develop and deliver training programs to enhance compliance awareness and knowledge among employees and management.
Key Competencies
1. AML and Regulatory Expertise
2. Reporting and Documentation
3. Insurance Industry Knowledge
4. Collaboration and Communication
5. Technology and Tools: Familiarity with AML software
Qualifications
1. Bachelor's degree in business, finance, law, or a related field.
2. Experience with reporting on STR and CTR’s
Relevant Experience
Minimum of 5 years proven experience in AML and reporting compliance within the insurance industry, with at least 2 years
in a managerial or supervisory role.