M & E Compliance Officer at The Nigerian Stock Exchange

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M & E Compliance Officer at The Nigerian Stock Exchange

Department Broker Dealers Regulation Department
Division Regulation
Role Monitoring & Enforcement Compliance Officer, BDR
ReportsTo Head, Broker Dealer Regulation
Grade Assistant Officer – Officer
KEY RESPONSIBILITIES
The Nigerian Stock Exchange services the largest economy in Africa, and is championing the development of Africa’s financial markets. The Exchange offers listing and trading services, licensing services, market data solutions, ancillary technology services, and more. It is an open, professional and vibrant exchange, connecting Nigeria, Africa and the world.

The Incumbent has the responsibility of reviewing financial and regulatory reports of Dealing Members to assess their financial state of affairs on an on-going basis.
JOB SUMMARY

Compliance:
Review all periodic renditions submitted to the Exchange to ensure they comply with the regulatory reporting format approved by The Exchange.
Review and analyze all periodic renditions from Dealing Members of The Exchange and ensure that such renditions are prepared in line with relevant accounting standards and the rules and regulations governing Dealing Members of The Exchange.
Review the capital adequacy and financial performance of Dealing Members.
Review the renditions (Quarterly returns, Audited financial statement etc. submitted to The Exchange and identify and escalate issues to the Unit Head.
Monitor the activities of Dealing Member firms to ensure they operate within the minimum capital requirement of The Exchange and that all firms who fall below the minimum requirements are sanctioned in line with the rules.
Set up meetings with the management of the Dealing member firms to discuss the variances/discrepancies or issues noted from the renditions submitted to The Exchange.
Ensure that recommendations from the review of the quarterly returns and Audited Financial Statements are adhered to by the Dealing member firms. Conduct Spot checks and other ad-hoc inspections where necessary.

Monitoring:
Track and monitor the submission of renditions (quarterly returns, monthly transaction reports and Audited Financial Statements of Dealing Member Firms on or before the reporting date

Tracking of all deadlines given to Dealing Member Firms.
Maintaining and updating the database with all enforcement actions.
Follow up on Dealing Member Firms with outstanding documents or unresolved issues.
Follow up to ensure that documents requested by the Inspection team from the Dealing Member Firms are submitted within the time period given to them.
Send out reminders and notifications via Blasts to members before the due date for the submission of rendition to The Exchange.
Send frequent notifications and reminders to defaulting firms ahead of deadlines

Enforcement:
Maintain a schedule and track enforcement deadlines.
Prepare the compliance status of firms at the end of every quarter.
Request management approval to carry out enforcement action on any Dealing Member Firm.
Recommend and ensure appropriate enforcement actions are carried out against defaulting Dealing Member Firms in line with the rules and regulations governing Dealing members of The Exchange.
Recommend appropriate enforcement actions against defaulting Dealing Member Firms in line with the rules and regulations governing Dealing members of The Exchange

Initiation of disciplinary procedures against defaulting market participants in line with The Exchange’s zero tolerance policy.

Reporting
Acknowledge and respond to all correspondences allocated by the Unit Head.
Prepare the agenda for all meetings to be held with Dealing Member Firms before each meeting.
Prepare periodic reports for both internal and external stakeholders.
Prepare all memorandums and communications used to liaise with the management of The Exchange and other relevant stakeholders

Others.
Monitor the status of firms and regularly update the Broker TraX report.
Develop and recommend changes in the rulebook of The Exchange.
Periodic risk profiling of Dealing Member firms.
Perform other relevant tasks as assigned by the Team Lead or Head of the Department
Job Skills Accountability Description Accountability Type Behavioral Attention to Detail Description Attention to Detail Type Behavioral Effective Communication Skills (Written & Oral) Description Effective Communication Skills (Written & Oral) Type Behavioral Initiative Description Initiative Type Behavioral Inter-Personal Relations Description Inter-Personal Relations Type Behavioral Leadership Description Leadership Type Behavioral Planning and Organizing Description Planning and Organizing Type Behavioral Professionalism Description Professionalism Type Behavioral Time Management Description Time Management Type Behavioral Numeric Skills Description Numeric Skills Type Functional Microsoft Office Packages Description Microsoft Office Packages Type Functional
QUALIFICATIONS AND EXPERIENCE
To successfully deliver the above goals, the right candidate must have:
Minimum of BSc (Second Class Upper Division) in Accounting, Finance, Economics, Statistics, or related fields.
MBA or Professional qualifications in Finance i.e. ACA, ACCA, CPA etc.
Experience in any of the Big 4 Audit firms or as a CBN certified Bank Examiner.

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