Risk & Compliance Officer

Job Title: Risk & Compliance Officer

Department: Finance & Administration (F&A)

Reports to: Director of Risk & Compliance

Supervises: None

Job Category: Management

Location: East Africa

Organization Overview

Village Enterprise (VE) is driven by the belief that ending extreme poverty is possible through innovative solutions that empower families to lift themselves out of extreme poverty, improve their well-being, and build resilience for a brighter future. While upholding our ubuntu, passion, innovation, sustainability and integrity core values, we focus on equipping first-time entrepreneurs in rural Africa with the resources and skills needed to launch small businesses and savings groups. Committed to a locally led, community-based approach, VE works with vulnerable women, refugees, and youth, empowering them to adapt to crises such as drought, displacement, pandemics, and conflict. Join our team and help us build resilience, ignite the entrepreneurial spirit, and transform lives across rural Africa.

Position Overview 

Under the supervision of the Director of Risk & Compliance, the Risk & Compliance Officer plays a key role in supporting the Director in implementing the organization’s risk management and compliance frameworks. This position is responsible for conducting day-to-day activities to manage risks, ensuring compliance with internal and external regulations, and assisting in internal audits and monitoring. The Officer will engage in continuous risk assessments, support fraud prevention efforts, assist with insurance documentation, and maintain relevant policies to ensure that the organization’s operations comply with donor and statutory requirements. This role will also be a member of the internal audit team, working closely with the Director to assess and improve internal controls.

Essential Duties and Responsibilities

Internal Audit and Compliance Monitoring

• Support the Director in conducting internal audits by gathering and organizing necessary documentation, coordinating with departments, and ensuring compliance with internal and donor policies.
• As a member of the internal audit team, contribute to the design of audit plans, execution of risk-based audits, and preparation of audit reports.
• Maintain and update the compliance register, ensuring it reflects the latest regulatory and donor requirements.
• Assist in ensuring timely completion of corrective actions from audits and follow up with departments on pending items to keep the Director informed of progress.
• Collaborate with the Director to evaluate internal controls, identify areas of risk, and develop recommendations for improvement.

Risk Management Support

• Assist in the implementation and monitoring of the Enterprise Risk Management (ERM) framework, ensuring all departments adhere to risk identification, assessment, and mitigation practices as outlined by the Director.
• Support the Director in compiling data for risk assessments, crisis response, dashboards, and reports to be presented to senior management and the board.
• Monitor risk treatment plans and track progress, reporting regularly to the Director on the status of mitigation efforts and any new risks that arise.

Insurance and Policy Management Support

• Assist the Director in managing the organization’s insurance portfolio, ensuring all claims are processed and documented correctly.
• Collaborate with the Director in reviewing insurance coverage needs, facilitating timely renewals, and maintaining all insurance-related records.
• Provide support in the review, revision, and dissemination of organizational policies, ensuring they are communicated and implemented across departments.

Documentation and Reporting

• Maintain comprehensive and organized records related to risk assessments, compliance reviews, audit findings, and mitigation actions.
• Assist in preparing reports for the Director of Risk and Compliance, CFO, senior leadership, and the board, as required.
• Track and document insurance policies, claims, and any related activities in collaboration with the Director.

Contract Management

• Support the Director in the development of comprehensive contracts and establish guidelines for renewals, amendments, and terminations, ensuring that templates are up-to-date and aligned with best practices for effective contract management.
• Collaborate with the legal department to conduct initial contract reviews and risk assessments. Flag any potential risks, regulatory concerns, or compliance issues and escalate them to the Risk and Compliance Director for action.
• Track contractual obligations and performance metrics, identifying potential compliance risks or breaches. Report findings to the Risk and Compliance Director to ensure timely resolution and risk mitigation.

Fraud Prevention and Investigation

• Actively support fraud awareness and prevention initiatives across the organization.
• Assist in investigating reported instances of fraud or misconduct, including gathering documentation, conducting interviews, and preparing reports.
• Maintain a confidential log of reported cases and follow up on corrective actions under the supervision of the Director.

Training and Capacity Building:

• Assist in the development of training materials and tools related to risk management and compliance.
• Coordinate and help deliver training sessions to staff on compliance, risk management practices, fraud prevention, and reporting mechanisms.
• Ensure that country program staff are up to date on policies and are able to identify and escalate potential risks.

Support for Risk and Compliance Projects:

• Provide administrative and logistical support for special projects and initiatives led by the Director, including coordination of meetings and workshops.
• Assist in the roll-out of new risk management tools, systems, and processes, ensuring smooth adoption by the organization’s staff.

Travel Management

• Expected travel of between 30% - 50% of the time to field sites within the region(s) where VE has its operations for training, compliance reviews, risk assessments, and investigations.
• Expected to plan and travel on short notice as directed by the Supervisor to address critical matters promptly, ensuring a timely response to emerging risks and compliance issues.

Education, Qualifications, & Experience

• Bachelor’s degree in business administration, finance, accounting, or related field. Professional certification in risk management, compliance, or internal audit (e.g., CRMA, CFE, CIA, etc.) is a plus.
• A minimum of 5 years of experience in risk management, compliance, internal audit, or a similar role, preferably in an INGO or nonprofit setting with working knowledge on donor compliance.
• Knowledge of Enterprise Risk Management (ERM) principles, compliance requirements, and internal audit processes.
• High level of integrity and ethical standards, with a proactive approach to identifying and addressing risks.
• Strong organizational skills with attention to detail and the ability to manage multiple priorities.
• Excellent written and verbal communication skills.
• Proficiency in relevant computer applications required, MS office applications and familiarity with accounting systems.
• Ability to work both independently and collaboratively in a dynamic, multicultural environment.

Please submit applications until October 11, 2024, addressed to the People and Culture Manager