Purpose of the Job:

The Director, Risk and Compliance is responsible for establishing, leading and continuously strengthening Digaf Microcredit Provider S.Co.'s Enterprise Risk Management (ERM) and Regulatory Compliance functions, in accordance with the International Standards for the Professional Practice of Risk and Compliance Management and the specific directives of the National Bank of Ethiopia (NBE).  The role safeguards the institution against credit, liquidity, market, operational, IT, and reputational risk, ensures full compliance with prudential and AML/CFT requirements, and promotes a sound risk and compliance culture across the institution.

Main Duties and Responsibilities:

1. Enterprise Risk Management:

• Develop, implement and periodically review a comprehensive Enterprise Risk Management (ERM) framework, policies and procedures covering credit, liquidity, market, operational, strategic, IT and reputational risk, in line with the NBE Risk Management Guidelines for Microfinance Institutions.

• Define and recommend the institution's risk appetite, risk tolerance limits and key risk indicators for approval by the Board of Directors/Board Risk Committee.

• Monitor credit portfolio quality, single borrower limits, provisioning adequacy, and capital adequacy in line with NBE capital and prudential directives, including stress testing and scenario analysis.

• Oversee liquidity and market risk monitoring, including maintenance of the minimum liquidity requirement.

• Oversee IT and cyber-security risk management, including the IT risk register, risk assessments and incident reporting, in compliance with NBE Directive No. MFI/33/2022 (Requirements for IT Management of Microfinance Institutions) and alignment with Information Network Security Agency (INSA) requirements.

• Coordinate business continuity, disaster recovery planning and fraud risk management across the institution.

1. Regulatory Compliance:

• Ensure institution-wide compliance with the Microfinance Business Proclamation No. 626/2009 (as amended), NBE Directive No. FIS/01/2023, and all other applicable NBE directives, guidelines, and circulars.

• Design, implement and maintain a compliance monitoring program; proactively track changes in NBE regulations and assess their operational impact on the institution.

• Serve as the institution's principal liaison with NBE examiners and other regulators, ensuring accurate and timely regulatory reporting and prompt remediation of examination findings.

• Ensure compliance with the Financial Consumer Protection Directive No. FCP/01/2020 in all customer-facing products, services and complaint-handling processes.

• Own and manage the institution's Anti-Money Laundering and Countering the Financing of Terrorism (AML/CFT) program, in accordance with Proclamation No. 780/2013 (as amended by Proclamation No. 1176/2020) and applicable NBE AML/CFT directives and guidelines, including customer due diligence, transaction monitoring, sanctions screening, and timely filing of Suspicious Transaction Reports (STRs) with the Ethiopian Financial Intelligence Center (EFIC).

• Ensure that appointments and conduct of officers, board members and other key personnel meet the Fit and Proper requirements set out in NBE Directive No. MFI/21/2012.

1. Governance, Reporting & Board Engagement:

• Report functionally to the Board of Directors/Board Risk Committee on a quarterly basis, or more frequently as required, on the institution's risk profile, emerging risks, and compliance status.

• Advise the CEO, senior management and the Board on the risk and compliance implications of new products, markets, systems and strategic initiatives prior to roll-out.

• Ensure risk management and compliance policies are reviewed and approved by the Board at least annually, or as regulatory changes require.

• Coordinate with the Internal Audit function and External Auditors (appointed in line with NBE Directive No. MFI/37/2024) to ensure effective alignment of the institution's three lines of defence.

1. Leadership & Development:

• Build, lead and mentor a competent Risk and Compliance department, fostering a culture of integrity, sound judgment and proactive risk identification across the institution.

• Design and deliver on-going risk and compliance training, including AML/CFT and fraud-awareness training, for staff and Board members.

• Ensure the Risk and Compliance function is adequately resourced, independent and objective in the performance of its duties.

Job Requirements

Qualifications and Experience:

• Education: Master's degree/BA Degree in Accounting, Economics, Law, Business Administration, Risk Management, Finance  or a related field. A Bachelor's degree with exceptional relevant experience may be considered. Certification in IT related field is added advantage.

• Experience: Minimum of 8-10 years of progressive experience in risk management and/or regulatory compliance, preferably within the banking or microfinance sector in Ethiopia. At least 5 years must be in a senior management role.

• Expertise: A recognized professional certification such as Certified Risk Manager (CRM), Financial Risk Manager (FRM), Certified Anti-Money Laundering Specialist (CAMS), or an equivalent risk/compliance qualification is preferred.

• Knowledge: In-depth knowledge of:

• NBE directives, guidelines and proclamations governing microfinance institutions, including risk management, AML/CFT, consumer protection and IT/cyber requirements.

• Enterprise Risk Management frameworks (e.g., COSO ERM) and International Financial Reporting Standards (IFRS), including IFRS 9 credit-loss provisioning.

• Anti-Money Laundering/Countering the Financing of Terrorism (AML/CFT) laws, regulations and international standards (e.g., FATF recommendations).

• Skills: Strong analytical, leadership and communication skills, with the ability to engage effectively with the Board, senior management and NBE regulators. High ethical standards and integrity. Proficiency in risk management/compliance systems and MS Office.

How To Apply

Interested candidates should send their resumes along with a cover letter to our HR department at hr.admin@digafcredit.com no later than 10 days. Please specify the position you are applying for in the subject line of your email.

Job Requirements Master's degree/BA Degree in Accounting, Economics, Law, Business Administration, Risk Management, Finance  or a related field. A Bachelor's degree with exceptional relevant experience may be considered. Certification in IT related field is added advantage. How to Apply Interested candidates should send their resumes along with a cover letter to our HR department at hr.admin@digafcredit.com no later than 10 days. Please specify the position you are applying for in the subject line of your email.