Head of Compliance

Retrust Microfinance Bank was officially launched in 2024 during the Annual Thanksgiving Ceremony of Zylus Group, of which the Bank is a proud subsidiary. The establishment of the Bank represents the Group’s strategic commitment to expanding financial inclusion and providing accessible banking solutions to individuals, entrepreneurs, and growing businesses.

We are recruiting to fill the position below:

Job Title: Head of Compliance

Location: Ikeja, Lagos
Employment Type: Full-time

Job Summary

• The Head of Compliance will be responsible for developing, implementing, and monitoring the Bank’s compliance framework to ensure adherence to applicable laws, Central Bank of Nigeria (CBN) regulations, regulatory directives, internal policies, and industry standards.
• The successful candidate will provide legal and regulatory advisory support to the Managing Director and the Board, oversee compliance monitoring and reporting, promote ethical business practices, and ensure that the Bank’s operations remain aligned with applicable regulatory requirements.

Key Responsibilities

• Develop, implement, and periodically review the Bank’s compliance policies, procedures, and framework in line with applicable laws, CBN regulations, and other relevant regulatory requirements.
• Monitor the Bank’s compliance with statutory obligations, regulatory directives, internal policies, operational procedures, and industry standards.
• Provide legal and regulatory advisory services to the Managing Director, management team, and Board on compliance-related matters.
• Coordinate compliance reviews, risk assessments, internal control monitoring, and regulatory compliance audits, ensuring that identified gaps are addressed promptly.
• Ensure timely preparation and submission of regulatory returns, reports, and other statutory filings to the CBN and relevant authorities.
• Oversee compliance with applicable Anti-Money Laundering and Counter-Terrorist Financing (AML/CFT) requirements, Know Your Customer (KYC) procedures, sanctions screening, and suspicious transaction reporting obligations.
• Monitor changes in applicable laws, regulations, and regulatory guidelines and advise management on their implications for the Bank’s operations.
• Liaise with regulatory authorities, external auditors, legal advisers, and other relevant stakeholders on compliance matters.
• Develop and implement compliance awareness programmes and training for employees to promote a strong culture of regulatory compliance and ethical conduct.
• Maintain appropriate compliance records, registers, and documentation for regulatory inspections and internal reviews.
• Lead, supervise, and develop the compliance team, ensuring effective performance and continuous improvement.
• Escalate material compliance breaches, regulatory risks, and control weaknesses to the appropriate management and governance structures.

Qualifications and Professional Requirements
Interested candidates must possess the following:

• A Bachelor of Laws (LL.B.) Degree or any social sciences from a recognised university or polytechnic.
• Relevant professional training or certification in compliance, AML/CFT, MCIB, risk management, or corporate governance will be an advantage.

Required Experience:

• A minimum of seven (7) years’ relevant professional experience in regulatory compliance, risk management, or a related field, preferably within a bank, microfinance bank, or other regulated financial institution.
• Demonstrable knowledge of CBN regulations, Nigerian financial services laws, corporate governance, and regulatory compliance requirements.
• Practical experience in compliance monitoring, regulatory reporting, policy development, and engagement with regulatory authorities.
• Experience in leading or supervising a compliance function will be an added advantage.

Key Skills and Competencies:
The ideal candidate should demonstrate:

• Strong legal research, interpretation, analytical, and problem-solving skills.
• A sound understanding of banking regulations, AML/CFT requirements, KYC standards, and relevant compliance frameworks.
• Excellent written and verbal communication skills, including the ability to prepare clear regulatory reports and management briefs.
• Strong leadership, organisational, and stakeholder management skills.
• High levels of integrity, professionalism, confidentiality, and attention to detail.
• The ability to exercise sound judgement, manage competing priorities, and meet regulatory deadlines.
• A proactive approach to identifying compliance risks and recommending practical solutions.

Remuneration

• An attractive and competitive remuneration package will be offered to the successful candidate, commensurate with qualifications, relevant experience, and the Bank’s compensation structure.