Overview
Position Title: Credit Officer – Regulatory Reporting Analysis and Compliance
ABSA Bank
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With a rich history spanning over a century and a solid position as a local bank with experience across the region and beyond, working with our family presents the chance to participate in this exciting growth adventure, reshaping our future and determining our fate as a proudly African business.
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Summary of Work:
To work as a member of the Retail Credit Team, but with particular oversight over:
- Managing the process of reporting consumer credit data to credit reference agencies.
- Providing accurate and timely credit reports in a timely manner to the Bank of Tanzania [BoT].
Job Summary:
Principal responsibilities and approximate time division:
Compliance, Analysis, and Reporting on Regulations (80%).
- The process of gathering, evaluating, and reporting consumer credit data to credit reference bureaus via Credit Reference Databank.
- The position would involve managing and promptly resolving consumer disputes about credit bureau data and ratings in compliance with The Bank of Tanzania (Financial Consumer Protection) Regulations 2019.
- Oversee the complete drafting of the Bank of Tanzania [BoT] reports pertaining to credit (ad hoc, daily, weekly, bi-weekly, monthly, etc.).
- Keeping an eye on and guaranteeing that the retail credit business function is carrying out its duties in compliance with the rules, policies, and instructions of the Bank of Tanzania.
- Comply with regulatory reporting standards by keeping accurate records and data.
- Engage in and make sure that every regulatory report is fully automated.
- Determine, evaluate, and offer advice on any issue pertaining to the analysis and compliance of regulatory reporting.
- To determine and document any exceptions to the regulatory reporting obligations that do not comply.
- Serving as the technical expert in the creation, examination, and revision of the policies, guidelines, and controls guiding the regulatory reporting process.
- To implement the monthly reconciliation of bureau consumption reports and to carry out the payments specified in the service contracts and service level agreements.
20% are controls.
- Assure complete adherence to all regulatory requirements set forth by the Bank of Tanzania.
- As per group policy, make sure that criteria for risk data recovery, security, and confidentiality are followed.
- Make sure that Business as Usual (BAU) activities incorporate data quality procedures.
- Verify the financial inputs’ accuracy before submitting the periodic regulatory submission.
Goal of Risk and Control:
- By implementing relevant risk frameworks and fostering a good risk culture, you may effectively manage risk and control.
- Recognizing your personal place in the overall processes you participate in, together with any relevant risks and controls.
- Respect Absa policies and procedures that are relevant to your work while exercising good judgment and managing risks responsibly.
- Use the procedure that has been established for your business sector to report any risk occurrences, incidents, or problems. This will help you determine why these things happened and how to avoid them in the future. Consider what can go wrong in the processes you run and how mistakes could be avoided as you proactively search for methods to enhance the control environment.
- All required training was finished on time.
Technical proficiency / aptitude:
- Solid familiarity with the Bank’s systems and data sources.
- Some familiarity with statistical analysis and credit analysis methods.
Personal qualities and abilities needed for the position:
- Taking care of connections.
- Individual Planning.
- Obtaining information.
- Abilities in communication.
- Numerical abilities.
- Analytical abilities.
Absa Principles.
The collection of principles known as Absa Values and Behaviors serves as a guide for all of us who work for the bank and serves as the benchmark for evaluating and rewarding each employee’s performance:
- Honesty.
- Resourcefulness.
- Inclusivity.
- Stewardship.
- Courage.
Education Level:
- Business, commerce, and management studies are required for the Further Education and Training Certificate (FETC).
