“The role of a compliance officer,” she stressed, “was never meant to be that of a micromanager. If the compliance program would only work if the staff members are in the office, then there is something either wrong with the programme or the staff members. Remember that even before the new normal, for most organisations, the compliance officer has always been seated in the HQ while you have staff members in different places having to carry out their responsibilities.
Also speaking in one of the sessions, founder and managing director of DataPro Limited, Nigeria’s first indigenous AML/CFT compliance and training firm, Abimbola Adeseyoju stated that at the centre of the issue of weak compliance, especially within the oraganised private sector is failure to see compliance as part of a transformation process by compliance officers just as he identified uncertainties, lack of resources, inefficient regulatory system, stressing that this is a big problem that...
Ibrahim described the ideal Compliance officer as with these sterling qualities, ‘‘Knowledgeable, a natural self-starter, Meticulous, Assertive, armed with Organisation and presentation skills,Trustworthy and be a good negotiator’’ He however stated that for the ideal Compliance department to be Operational, it must, ‘‘Implement and monitor compliance policies and procedures; train employees on compliance and anti-money laundering and counter-terrorism financing, conduct due diligence, monitor transactions, management, board and regulatory reporting, whilst also managing corrective actions for breaches and Interpreting regulations/regulatory expectations to the business’’Adeseyoju who also doubles as the chairman...