Maintain a register of bancassurance regulatory obligations
Monitor adherence to insurance, IRA, CBK, consumer protection, data privacy, AML/CFT/CPF and internal policy requirements
Track regulatory updates and drive implementation with relevant teams
Ensure the bancassurance financial crime risk assessment is completed, filed and reflected in the Bank's wider assessment
Assess financial crime risks linked to customers, products, channels and transactions
Confirm customer due diligence, including enhanced measures, is applied correctly
Monitor fraud indicators and suspicious activity in insurance transactions
Work with Compliance, the MLRO and Fraud Risk on significant cases
Coordinate required regulatory submissions, including IRA guideline compliance and the annual IRA risk assessment
Maintain a regulatory reporting calendar and check submissions for completeness and accuracy
Support responses to IRA and CBK information requests
Prepare periodic reports for management, risk committees and other governance forums
Prepare the annual bancassurance performance report for IRA within three months of year-end
Drive closure of audit, regulatory and compliance findings and support regulatory inspections and audits
Maintain the bancassurance risk register and identify, assess and monitor regulatory, operational, reputational, financial crime and data protection risks
Embed bancassurance risks into the enterprise risk taxonomy and RCSA
Set and monitor key risk indicators and risk appetite thresholds
Maintain the bancassurance RCSA, defining key risks, controls, control owners and testing frequency
Conduct or coordinate periodic control testing and track control failures and remediation
Obtain quarterly management attestations on key controls
Monitor closure of KYC, documentation, disclosure, licensing and operational exceptions
Monitor and report incidents, losses and near misses; escalate risk appetite breaches; identify emerging risks
Independently review new and amended insurance products for risk and compliance and take part in Product Approval Committee processes
Carry out risk-based due diligence and ongoing monitoring of insurance partners, including regulatory standing, financial strength, complaints, claims, service levels and data protection controls
Monitor contract obligations and SLAs and escalate material deterioration in insurer risk profiles
Monitor complaints and resolution timelines, perform root-cause analysis and escalate systemic issues
Protect confidentiality of customer insurance information and review data-sharing arrangements with insurance partners
Work with the Data Protection Office on privacy impact assessments and data-sharing risks
Coordinate mandatory bancassurance risk and compliance training and monitor competency and certification for technical staff
Requirements
Bachelor's degree in risk, insurance, finance, banking, business, law, compliance or a related field
Four to seven years of experience in banking, insurance, bancassurance, risk or compliance
Knowledge of Kenyan banking and insurance regulation
Understanding of RCSA, operational risk and compliance monitoring
ACII/IIK qualification or progress toward a professional insurance qualification (desirable)
CAMS or an equivalent AML qualification (desirable)
A risk or compliance qualification (desirable)
Experience with IRA and CBK regulatory engagements (desirable)
Experience in bancassurance product governance and customer conduct monitoring (desirable)
Integrity and customer focus
Independent judgment and professional skepticism
Strong analytical and investigative ability
Strong communication and stakeholder management
Accountability and ownership
Done for you
We'll apply to this for you
Denidel's HR team submits and tracks the application on your behalf.
