Bancassurance Risk & Compliance Manager

About the role

The Bancassurance Risk & Compliance Manager will provide independent oversight of Sidian Bank’s bancassurance activities, ensuring they operate within the approved risk appetite, regulatory framework and governance standards.

Key responsibilities

• Maintain a comprehensive regulatory obligations register and monitor compliance with the Insurance Act, IRA regulations, CBK requirements, AML/CFT, data protection and consumer protection rules.
• Conduct AML/CFT risk assessments, ensure KYC/CDD/EDD procedures are applied, and coordinate with fraud risk teams on suspicious activity.
• Prepare and submit regulatory reports, manage the regulatory reporting calendar, and support inspections and audit engagements.
• Maintain the Bancassurance risk register, identify regulatory, operational, reputational and data protection risks, and embed them into the bank’s enterprise risk taxonomy.
• Oversee RCSA processes, define key controls, conduct periodic testing, and track remediation actions.
• Review new and amended insurance products for risk and compliance, and participate in product approval committees.
• Perform due‑diligence and ongoing monitoring of insurance partners, reviewing their regulatory status, financial strength and service levels.
• Monitor complaints, conduct root‑cause analysis, and ensure timely resolution and escalation of systemic issues.

Required profile

• Bachelor’s degree in Risk Management, Insurance, Finance, Banking, Business, Law or related field.
• 4–7 years of experience in banking, insurance, bancassurance, risk or compliance, with strong knowledge of Kenyan banking and insurance regulations.
• Understanding of RCSA, operational risk and compliance monitoring frameworks.
• Professional qualifications such as ACII/IIK, CAMS or equivalent are desirable.

Required skills

• In‑depth knowledge of CBK, IRA and Bancassurance regulatory frameworks.
• Experience in AML/CFT risk assessment, KYC/CDD processes and fraud monitoring.
• Ability to develop and maintain risk registers, KRIs and control testing programmes.
• Strong analytical, investigative and stakeholder‑management capabilities.