Job Opportunities in the Act Portfolio

Act Venture Capital Ltd

Senior Compliance Officer



Software Engineering, Legal
Lagos, Nigeria
Posted on Thursday, September 28, 2023

About Umba

At Umba, we are building a digital bank for emerging markets, offering intelligent, affordable financial products. Our digital banking services are available in Nigeria, expanding quickly to Kenya and other African countries with strong backing from our Series A investors.

One-third of the world's 2 billion unbanked people live in Sub-Saharan Africa, and we are here to bring these customers free banking services and bring them into the formal financial system. It's an exciting mission and one that we are excited to deliver.

About The Role

Umba is seeking a seasoned Compliance officer to join our dynamic team. The role is essential to ensuring that our activities comply with legal, regulatory as well as market-specific compliance standards.

When you join the Umba team, you will take up the responsibility of renewing existing licenses/approvals whilst also acquiring new licenses, developing and implementing compliance policies and processes amongst others.


To ensure Umba is complying with applicable laws, rules, and regulations, as well as internal policies; and mitigate/minimize regulatory, reputational, or financial risks


  • To ensure compliance by Umba and prevent regulatory sanctions from non-compliance, monitor Umba’s overall adherence to the regulations of relevant regulatory authorities.
  • Identify and assess risk areas and thereafter develop internal policies/mitigants that will significantly reduce the likelihood of occurrence of those risks.
  • Develop and implement an organization-wide compliance plan and periodically advise management on the status of implementation
  • Review and analyze regulatory circulars and policies, letters, and exposure drafts, outlining areas of compliance for Umba.
  • Identify and resolve operational gaps and reconciliation issues to prevent operational/fraud/business losses.
  • Review new products, processes, and procedures before implementation.
  • Provide accurate and timely reports to assist Management in decisions making .
  • Ensure existing licenses and regulatory approvals are renewed as and when due, whilst also acquiring new licenses that aligns with Umba's business objectives and growth trajectory
  • Conduct regular compliance audits and assessments to evaluate the effectiveness of compliance measures and identify areas for improvement.
  • Encourage a culture of awareness and attentiveness by providing internal teams with compliance-related information and training.
  • Liaise with external regulatory bodies, legal advisors, and partners to ensure a strong network of compliance support and up-to-date knowledge.

You could be a great fit if you have the following:

  • A demonstrated track record of at least 5 years in a compliance role with exposure to emerging markets, ideally in the Fintech or commercial banking sectors.
  • Bachelor's degree in Law, Business, Finance, or a related field; advanced degree or relevant certifications (e.g.DCP, CAMS, CFE, CAFCA) is a plus.
  • Excellent interpersonal and communication abilities to work well with internal teams, outside partners, and regulatory authorities.
  • Strategic attitude with the capacity to strike a balance between Umba’s corporate goals and industry/government regulations, promoting innovation while upholding a solid ethical basis.
  • Strong analytical skills to evaluate complicated regulatory concerns and create workable solutions.
  • Ability to manage regulatory audits during regulatory inspections and examinations, and providing responses to auditors
  • A good knowledge of the extant banking regulations
  • Transaction monitoring skills for Suspicious Activity Reporting

Work Status

Valid work authorization for Nigeria

Umba is proud to be an Equal Opportunity employer. All qualified applicants will receive consideration for employment without regard to sex, gender identity, sexual orientation, race, color, religion, national origin, disability, protected veteran status, age, or any other characteristic protected by law. If you have a disability or special need that requires accommodation, please let us know.