Head of Risk & Compliance (HORC)

Job Summary

As a direct report of the Group Chief Executive Officer (GCEO), the Head of Risk & Compliance (HORC) is responsible for leadership and oversight of the Risk and Compliance Departments, ensuring the creation, implementation and maintenance of effective Compliance and Risk Management Frameworks.

The HORC will also be responsible for providing strategic and tactical advice and direction to the Board of Directors, relevant board committees and Senior Management of the entities within Barbados Public Workers’ Co-operative Credit Union Limited, its subsidiaries and associated companies (the Group) within the areas under remit.

Duties:

  • Consult with relevant stakeholders to define the Risk and Compliance Frameworks and ensure buy-in and execution. Ensure that the frameworks’ risk and compliance identification and assessment tools and processes are comprehensive and consistently applied.
  • Ensures the creation and/or maintenance of risk corporate policies including credit and counterparty risk, market risk, operational risk, compliance, security and portfolio valuation, acceptable use, information security, physical security, business continuity planning, and limit breaches and escalation.
  • Ensure through the Compliance Manager and Risk Managers (Credit and Operational) that the Compliance and Risk teams deliver agreed objectives, activities and outcomes in accordance with company policies and procedures and regulatory guidelines.
  • Contribute to the development, implementation and execution of the Group’s Strategic Plan with a focus on the Risk and Compliance elements.
  • Create, implement and lead the Risk & Compliance departmental strategy and promote it at the Group and Entity levels through effective Risk Assessment and appropriate planning and execution.
  • Set the direction, targets and annual plans and budgets for the Department, including the scheduling of risk and compliance reviews through discussions with relevant stakeholders ensuring alignment with business needs and strategies.
  • Work closely with the Board, Supervisory Authorities and Senior Management Team, striking the balance between governance requirements and business objectives to propose pragmatic compliant solutions to reduce risk, improve compliance with established procedures/policies and/or reduce expenditure.
  • Ensure that the Board of Directors and Senior Management are kept fully informed of all regulatory matters and any such developments within the Risk and Compliance Frameworks.
  • Establish and maintain cordial relationships and open-dialogue with the relevant regulatory organisations ensuring that all enquiries and or concerns are promptly addressed.
  • Establish and/or inculcate a culture within the Group that emphasizes the commitment to internal controls, risk management and high ethical standards. Ensure the creation and conduct of AML Compliance and other risk related trainings within agreed timescales.

 

Knowledge, Qualifications & Experience:

  • Master’s Degree in Business, Finance, Risk management, Business Law or a related field
  • A minimum of 7 years’ related experience in risk oversight roles covering credit, counterparty, investment, market, liquidity and operational risk.
  • Certification in Anti-Money laundering and/or Risk management.
  • Strong understanding of regulatory requirements, expectations and business impacts.
  • In depth knowledge of banking, credit union, and tax laws and regulations, compliance regulations and accounting principles.

 

How to Apply:

E-mail: jobs@bpwccul.bb

Deadline: Friday March 11, 2022 at 4:30 p.m.

We thank all candidates however only shortlisted candidates will be contacted.

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