Exciting Career Opportunity at the Rwanda Social Security Board (RSSB) – Head, Compliance
Are you ready to embark on a transformational journey? We are seeking a dynamic and forward-thinking leader to join us as the Head, Compliance. If you thrive in dynamic environments and are committed to innovation, this is the opportunity for you!
The Rwanda Social Security Board is the largest regulated financial institution in Rwanda and it aspires to transform towards a modern, high performing institution that is committed to operational excellence and ensuring adherence to the laws, regulations and internal controls that have been set to protect the Institution and its members at large.
As a leader in our field, we recognize the need to adapt to an ever-changing regulatory landscape and ensure robust compliance frameworks are in place. If you have what it takes to lead the compliance function in this environment and are passionate about making a significant impact on the the lives of millions of individuals through effective risk management and compliance practices, then we are looking for you.
As the Head, Compliance, you will be responsible for developing and executing the organisation’s compliance framework, ensuring alignment with the organization’s objectives and regulatory requirements.
Reporting to the Chief Executive Officer and the Board of Directors, the Head, Compliance will be responsible for designing and implementing compliance strategies and plans, including guiding, and educating the management and staff on compliance matters and ensuring all RSSB employees are compliant with applicable policies, procedures, laws, and regulations.
About RSSB
The Rwanda Social Security Board (RSSB) has the mandate to manage and promote social security in Rwanda. RSSB’s vision is to provide a comprehensive social security system that caters to the diverse social security needs of the population, RSSB plays an important role in realising Vision 2050 and the National Strategy for Transformation (NST1). RSSB manages six social security schemes, namely: Pension, Occupational Hazards, Medical scheme, CBHI, Maternity Leave Benefits and EjoHeza (Long-term Term Saving Scheme).
As a leading player in the financial sector, RSSB serves as the largest institutional investor in Rwanda. With assets under management amounting to 1.9 trillion Rwf, which is equivalent to 17% of the country’s GDP, RSSB invests in key sectors of the economy and plays a crucial role in providing up to 20% of liquidity for the financial sector. With approximately 12 million members in the above six schemes, encompassing close to 90% of Rwanda’s population, RSSB is at the forefront of securing the health and financial well-being of Rwandans.
To achieve its important mandate, RSSB is embarking on a transformative journey, aiming to become a modern, data-driven, and high-performing institution. As part of this ambitious initiative, we are seeking highly motivated individuals who are results-oriented and uphold the highest standards of professionalism and integrity. By joining RSSB, you will have the opportunity to actively contribute to the advancement of social security and overall transformation of Rwanda.
If you are passionate about making a meaningful impact, ready to embrace innovation and change, and eager to work in a dynamic and collaborative environment, then RSSB is the place for you.
Key Duties and Responsibilities
- Identify gaps, develop, and maintain a compliance management policy and framework
- Promote enterprise-wide compliance management culture
- Coordinate RSSB staff trainings on internal policies and other applicable regulations and monitor their effectiveness
- Oversee all activities related to fraud prevention, detection, reporting and investigation across all RSSB processes
- Oversee compliance management obligations and ensure they are factored into contract and performance management
- Monitor and report Institutional fight against the crimes of money laundering and the financing of terrorism
- Monitor RSSB compliance with its regulatory obligations
- Prepare and submit periodic and annual reports to Management and the Board on the status of compliance within the Institution
- Coordinate surveys and oversee periodic internal reviews or audits to ensure that compliance procedures are followed
- Head the internal investigation on compliance issues and regularly report any identified breach
- Identify, evaluate, and assess Institutional compliance risks and propose effective mitigation measures
- Prepare and implement effective plans to manage a crisis or compliance violation
- Work cooperatively with internal and external auditors when needed
- Prepare and ensure timely appropriate compliance reports with regulatory agencies and other stakeholders
- Discuss compliance issues with management or employees
- Work with other concerned departments to ensure existence, communication and implementation of updated and comprehensive regulatory policies, procedures, and laws
- Oversee the preparation of strategic and business plans and related budgets and ensure their successful implementation
- Manage and evaluate staff under his/her supervision
- Perform any other duties related to the Compliance Management function as may be assigned from time to time
Key Qualifications and Experience
The successful candidate must have at least:
- Master’s Degree in Business Law, Regulatory Affairs, Auditing, Corporate Governance, Business Administration, or any other relevant field preferably with 6 years’ experience, 2 of which should have been in a managerial role
OR
- Bachelor’s Degree in Law, Business Administration, or any other relevant field preferably with 8 years’ experience, 2 of which should have been in a managerial role
- Post graduate diploma from Institute of Legal Practice and Development (ILPD) Rwanda as an added advantage
- Professional certification such as Certified Compliance & Ethics Professional (CCEP), Fraud management or Forensic investigation as an added advantage
Key Competencies
Technical Competencies:
- The role holder must have sound understanding in risk management assurance, its techniques and practices
- The incumbent must have strong knowledge in enterprise risk and financial risk management
- The incumbent must demonstrate sound knowledge in business continuity management and financial acumen
- The role holder must demonstrate in-depth knowledge in compliance management
Behavioral Competencies:
- Must demonstrate impeccable customer service focus, strategic thinking, and strong ethical background with an ability to resist and zero tolerance for corrupt, political and other undesirable influences
- Must be able to establish and maintain constructive and effective relationships with key stakeholders and staff alike
- Must be open to change and adapt established methods for new uses within the institution
Additional Information
The position is based in Kigali, Rwanda and applicants must be willing to relocate outside their countries of domicile.
RSSB reserves the right to appoint or to issue an employment contract to the successful candidate.
Interested candidates are advised to visit the RSSB website for a more detailed job description for the role, and submit your application online by Thursday 13, July 2023.
In addition, please attach a curriculum vitae that contains details of your qualifications, experience and positions held relevant to this role. Include your day and evening telephone numbers, email address, names and address of three professional referees. Also, attach copies of your academic and professional qualifications.
Any form of canvassing will lead to automatic disqualification.
Only short-listed applicants will be contacted.
Shortlisted candidates will be required to submit a valid Criminal Clearance Certificate.
RSSB is an Equal Opportunity Employer
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