Background

Prime Insurance Ltd is an insurance company, established in 1995 and licensed by the National Bank of Rwanda (BNR) to offer general insurance services.

Job Purpose

The Compliance Manager is a key strategic role responsible for ensuring the company operates within legal and regulatory frameworks and QMS compliance and improvement. This role identifies, assesses, and mitigates compliance risks, implements policies, and provides guidance to uphold ethical standards, protecting the company from financial and reputational harm while fostering a strong compliance culture and driving continuous improvement.

Key Responsibilities

Under the supervision of the Chief Executive Officer, the Compliance Manager shall have the following responsibilities:

• Ensure compliance with laws, regulations, and directives issued by regulatory authorities (BNR, FIC, NCSA) and industry bodies.
• Monitor compliance risks and assess the effectiveness of corrective measures across the organization.
• Report significant compliance breaches and oversee corrective actions arising from regulatory findings.
• Lead the implementation and monitoring of AML/CFT compliance programs.
• Develop, maintain, and promote compliance policies, procedures, ethical standards, and internal controls.
• Deliver compliance training and awareness programs to foster a strong compliance culture.
• Oversee the Quality Management System (QMS), including ISO 9001 certification and continuous improvement initiatives.
• Monitor quality performance, customer feedback, and operational risks, and drive corrective and preventive actions.

Key Deliverables

• Effective regulatory monitoring and compliance reporting.
• Comprehensive compliance risk assessments and monitoring plans.
• Timely management of compliance incidents and regulatory actions.
• Successful implementation of AML/CFT requirements.
• Maintenance and continual improvement of the QMS and ISO 9001 certification.
• Regular compliance reports to management and Board committees.
• Strong regulatory relationships and effective stakeholder communication.

Required Qualifications & Experience

• Regulatory approval required prior to appointment.
• Bachelor's degree in Finance, Accounting, Risk Management, or a related field; a Master's degree is an added advantage.
• Professional qualification such as CPA, ACCA, a diploma in insurance issued by Chartered Insurance Institute (UK) or by a similar professional body recognized by the Supervisory Authority or any other professional certificate in the area of compliance. ISO 9001 related qualification will be an added advantage
• At least 5 years of progressive experience in compliance, audit, or risk management within financial services, including 3 years in a managerial role.
• Experience in Quality Management Systems and ISO 9001 implementation or auditing.
• Strong knowledge of regulatory requirements and proficiency in English, French, and Kinyarwanda.
• Rwandan nationality and below 45 years of age

Key Competencies

• Regulatory Compliance and AML/CFT expertise.
• Ability to identify, assess, and mitigate compliance risks effectively.
• Quality Management system proficiency.
• Strong analytical, problem-solving, and decision-making skills.
• Excellent communication and stakeholders’ management.
• High ethical standards, integrity, and attention to detail.
• Ability to adapt to evolving regulations and business environments.

Working Relationships

• Internal: Board of Directors, CEO, Senior Management Committee, Heads of Departments, all staff across the organization.
• External: Regulatory authorities, External Auditors, Industry Associations, Intermediaries.

• Ensure compliance with laws, regulations, and directives issued by regulatory authorities (BNR, FIC, NCSA) and industry bodies.
• Monitor compliance risks and assess the effectiveness of corrective measures across the organization.
• Report significant compliance breaches and oversee corrective actions arising from regulatory findings.
• Lead the implementation and monitoring of AML/CFT compliance programs.
• Develop, maintain, and promote compliance policies, procedures, ethical standards, and internal controls.
• Deliver compliance training and awareness programs to foster a strong compliance culture.
• Oversee the Quality Management System (QMS), including ISO 9001 certification and continuous improvement initiatives.
• Monitor quality performance, customer feedback, and operational risks, and drive corrective and preventive actions.

• Regulatory Compliance and AML/CFT expertise.
• Ability to identify, assess, and mitigate compliance risks effectively.
• Quality Management system proficiency.
• Strong analytical, problem-solving, and decision-making skills.
• Excellent communication and stakeholders’ management.
• High ethical standards, integrity, and attention to detail.
• Ability to adapt to evolving regulations and business environments.

• Regulatory approval required prior to appointment.
• Bachelor's degree in Finance, Accounting, Risk Management, or a related field; a Master's degree is an added advantage.
• Professional qualification such as CPA, ACCA, a diploma in insurance issued by Chartered Insurance Institute (UK) or by a similar professional body recognized by the Supervisory Authority or any other professional certificate in the area of compliance. ISO 9001 related qualification will be an added advantage
• At least 5 years of progressive experience in compliance, audit, or risk management within financial services, including 3 years in a managerial role.
• Experience in Quality Management Systems and ISO 9001 implementation or auditing.
• Strong knowledge of regulatory requirements and proficiency in English, French, and Kinyarwanda.
• Rwandan nationality and below 45 years of age