Centralbank.gov.so



|Job Description |

|Post Title |Compliance Officer |

|Duty Station |CBS Headquarter |

|Expected starting date |May 2021 |

|Employment Status |Permanent |

|Reports to |Senior Officer Risk Management, Compliance and Policy |

|Supervises |None |

|Role |

|The incumbent will perform payment systems risk management through monitoring and compliance assessment to ensure that the payment systems |

|operations and business transactions follow all relevant legal and internal rules. |

|General Description |

|The Currency and Banking Operations Group carries out a broad range of functions for the Central Bank of Somali to provide a broad range of |

|financial banking services to the state and its institutions (Public Sector) and for those who have current accounts at the CBS. It also |

|provides additional services such as maintain the legal reserves for the commercial banks and rediscount of both commercial and financial paper|

|and clearing services. The main functions of the Banking Operations Department are to serve as the “Banker’s Bank” by providing banking |

|services to the Government, financial institutions, and other approved account holders. |

|Main Duties and Responsibilities |

|Manage the risk management process of payment systems through monitoring the performance of payment, clearing and settlement systems and the |

|compliance to relevant standards, rules, procedures, regulations, and guidelines. |

|Review applications submitted by payment systems service providers for consideration for no-objections/licenses. |

|Ensure monitoring of domestic and cross-border payment systems to identify incidents and performance issues. |

|Collect and analyze payment, clearing and settlement systems incidents. |

|Perform assessment of payment, clearing and settlement systems against the Principals for Financial Market Infrastructures. |

|Carry out periodic national payment systems risks assessment and analysis and propose to management appropriate mitigating measures. |

|Carry out analysis and assessment of new payment systems. |

|Conduct on-site and off-site examination of payment systems. |

|Prepare monthly, quarterly and annual risk management reports and any ad-hock report as may be required. |

|Monitor the preparation of and monitor the performance of the section operational plans/balanced scorecard. |

|Manage the performance and motivation of staff in the section; and |

|Carry out such other duties as may be assigned from time to time. |

|Qualifications |

|Education & Experience: |

|A degree in Commerce, Accounting, Finance, Business administration or a related field from a recognized university. |

|3 years’ experience. |

|Language: |

|Operationally fluent in both Somali and English. |

|Functional and Organizational Skills |

|Knowledge of legal requirements and controls (e.g. Anti-Money Laundering/AML). |

|Familiarity with industry practices and professional standards. |

|Good knowledge of payment systems dynamics and related emerging developments. |

|Computer literate with concern for detail. |

|High degree of integrity. |

|Good report writing skills. |

|Enhanced efficiency in the national payment system. |

|Minimized risks in payment systems in Banks. |

|Payment system risk management reports. |

|Incident Reports. |

|Application Procedure: |

|Only qualified national applicants with completed applications are invited to submit their electronic applications/Cover Letters, updated |

|resumes supported with copies of their professional, academic certifications and any other evidence demonstrating the required experience and |

|three referees through email; recruitment@.so and copy to operations@.so not later than 19th March, 2021 at |

|midnight Mogadishu time. Incomplete Applications and those received after deadline will not be considered. Per newly approved human resources |

|policy, Central Bank is equal opportunity employer, female applicants are highly encouraged to apply. Please note Only shortlisted candidates |

|will be contacted. |

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bankiga dhexe ee soomaaliya

'D(FC 'DE1C2J 'D5HE'DJ

CENTRAL BANK OF SOMALIA

البنك المركزي الصومالي

CENTRAL BANK OF SOMALIA

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