Descriptions
Job Details
- Position: Senior Manager Compliance I
- Rank: Principal Compliance Officer I
- Department: Risk Management and Compliance
- Section: Risk Management
- Salary Scale: COBSS 9 (Principal Level I)
- Reports to: Chief Manager Compliance
- Location: Dar es Salaam
- Application Deadline: August 17, 2025
Position Objective
The Senior Manager Compliance I ensures the bank adheres to legal and regulatory requirements, industry standards, and internal policies. This role involves developing and implementing compliance programs, conducting audits, providing training, mitigating risks, acting as a liaison with regulatory bodies, and managing the organization’s compliance programs, policies, and practices. The position plays a critical role in risk management, implementing and monitoring controls, and advising leadership on compliance matters.
Key Responsibilities
- Provide leadership to create a working environment conducive to achieving budgeted KPIs, mentoring and training employees to reach their full potential.
- Monitor and control operating costs to ensure budget compliance and address unfavorable cost variances promptly.
- Implement employee performance management processes to optimize performance and address substandard behavior or performance.
- Assist the Director of Risk Management and Compliance and Chief Manager Compliance in overseeing day-to-day compliance management, tracking, and monitoring across the bank.
- Implement controls to meet regulatory and internal requirements and promote a strong compliance culture across directorates, departments, and branches.
- Develop, review, and update compliance policies and procedures to align with relevant laws and regulations.
- Conduct risk assessments to identify potential compliance risks and vulnerabilities in operations and processes.
- Regularly review business operations, transactions, and records to identify potential compliance issues or deviations.
- Develop and deliver training sessions on compliance requirements and best practices for all staff.
- Lead investigations into potential compliance violations and collaborate with stakeholders to resolve issues.
- Liaise with external auditors, regulators, and other relevant bodies on compliance matters.
- Maintain accurate records of all compliance activities, including audits, investigations, and training sessions.
- Stay updated on changes in laws, regulations, and industry standards impacting the organization.
- Foster a culture of ethical conduct and compliance throughout the organization.
- Work with departments and branches to balance business growth with compliance and control mechanisms.
- Ensure proper functioning of day-to-day controls, periodic monitoring, and timely reporting of significant compliance breaches to prevent losses, penalties, or sanctions.
- Document and implement controls to ensure compliance with Bank of Tanzania regulations and internal standards per the TCB Strategic Plan, budget, policies, manuals, and circulars.
- Provide assurance on policy implementation and quality of controls as part of the second line of defense.
- Act as a reference point to facilitate and promote understanding of compliance requirements and issues.
- Ensure effective policy implementation, proper communication of new regulations, and quality assurance in control measures and monitoring plans.
- Design and implement control measures and monitoring plans for effective compliance adherence.
- Ensure adherence to the compliance management framework for identifying, controlling, monitoring, and reporting compliance matters.
- Ensure departments and branches comply with key regulations and internal standards to avoid penalties, sanctions, and fines.
- Mitigate, reduce, or contain identified compliance deviations through periodic monitoring and escalate issues to the Director of Risk Management and Compliance when necessary.
- Assess and mitigate compliance risks associated with new and changed products, services, and business strategies.
- Assist in preparing compliance profiles and reports for the Executive Committee and Board of Directors, ensuring accuracy and completeness.
- Lead efforts to enhance the general compliance culture through communication, training, and other initiatives.
- Ensure internal controls and procedures for money laundering, KYC, and fraud prevention are functioning as intended, with follow-ups on deviations.
- Identify gaps and conduct staff training on compliance matters for all TCB staff.
- Review the quality of controls, including validation of Key Risk Indicators (KRIs), as part of the second line of defense.
- Develop, update, and manage the Risk Register, encompassing the Compliance Dashboard of the Bank.
- Ensure compliance with regulations on money laundering, counterfeiting, financing of terrorism, and the bank’s Code of Conduct.
- Review transaction monitoring alerts for unusual or suspicious customer activity.
- Participate in the bank’s new product development (PDP) to ensure compliance with governing laws, regulations, guidelines, and policies.
- Ensure regulatory requirements for publications, displays, and security tools are implemented across the branch network and the entire bank.
- Monitor compliance with internal policies, procedures, guidelines, and regulatory requirements through regular risk assessments and testing.
- Track compliance issues from metrics, assurance activities, audit reviews, and regulatory inspections, validating issues where necessary.
- Ensure senior management is informed of serious regulatory breaches or exceeded risk tolerances.
- Perform other duties as assigned by the superior.
Qualifications, Skills, and Experience
- Master’s degree in Banking, Economics, Commerce, Business Administration (majoring in Accounting or Finance), Risk Management, Agricultural Economics, Insurance, Marketing, Statistics, or Banking from a recognized university or equivalent qualifications.
- Minimum of 16 years’ working experience in a related field.
- Computer literacy with excellent command of Excel and Word processing.
- Certifications in Compliance Management are an added advantage.
- Sound knowledge of banking acts, regulations, circulars, and best practices.
- Knowledge of other relevant acts, laws, regulations, and circulars contributing to effective compliance management.
- Strong leadership and people management skills.
- Strong technical skills in compliance matters, identification, monitoring, and reporting.
- Ability to prioritize tasks and stay organized.
- Capability to work independently with minimal supervision.
- Adherence to regulations, company policies, and regulatory knowledge.
- Team player with ethical conduct.
- Strong problem-solving, analytical, communication, and interpersonal skills.
Personal Attributes and Behavioral Competencies
- Demonstrates Tanzania Commercial Bank core values: Customer Focus, Trustworthy, Creativity, Teamwork, and Excellence.
- Ability to prioritize work and meet deadlines.
- Capable of implementing projects/programs according to set objectives and timelines across a wide business platform.
- Exhibits sound judgment, common sense, and good humor.
- Strong leadership and people management skills.
- Strong business acumen with the ability to grow business.
- Ability to build effective relationships with all stakeholders.
- Self-driven with a results-oriented mindset.
- Effective data analysis skills.
- Produces efficient and high-quality audit reports.
Application Process
- Submit applications via the following link: https://www.tcbbank.co.tz/careers. Applications via other methods will not be considered.
- Applicants must provide personal information, academic certificates, work experiences, and an application letter. Other credentials will be submitted during the interview for authentication and administrative purposes.
- Shortlisted candidates may be subjected to security clearance, competency assessment, and physical capability assessment.
- Tanzania Commercial Bank is committed to environmental, health, and safety management.
- Late applications will not be considered.
How to Apply:
To submit your application, please follow the link provided below.
