DERECK ONYEDINMA OKPARA (MBA/CAMS/CRISC)

Role Outline

Responsible for overseeing company compliance. Ensuring compliance with compliance laws, regulatory requirements, and policy and procedures, while managing an effective legal compliance program. The regular review of company policies and procedures and compliance risk programs to ensure consistency with current applicable rules, regulations, acts, and laws. Providing quarterly and annual compliance reports with outlined compliance changes and change management logs. Performing strategic quarterly and annual risk assessments, identifying trends, root causes, processes, and timeliness developmental criteria. Executing audits and compliance monitoring programs, remediation processes, corrective actions, and risk mitigation strategies.

Key Responsibilities

Provided independent audit, compliance, and internal control advisory services.

• Conducted compliance reviews, risk assessments, and process improvement engagements.
• Supported the organisation with regulatory compliance, documentation, and internal control strengthening.
• Delivered advisory support on governance, AML/CFT, and operational risk management.

Role Outline

Responsible for establishing Compliance and Data privacy standards and implementing procedures to ensure that these programs throughout the organization are effective & efficient in identifying, preventing, detecting, and correcting non-compliance with applicable laws and regulations. Advising internal management and business partners on the implementation of compliance and data privacy programs. Conducting regular GAP analysis on new and updated controls and best practices in the industry.

Key Responsibilities

• Responsible for overseeing company compliance, ensuring compliance with laws, regulatory requirements, and policy and procedures, while managing an effective legal compliance program.
• Review policies and procedures and compliance risk programs to ensure consistency with current applicable banking and securities rules, regulations, acts and laws.
• Provides quarterly and annual compliance reports with outlined compliance changes and change management logs.
• Performs strategic quarterly and annual risk assessments, identifying trends, root causes, processes, and timeliness developmental criteria.
• · Executed audits and compliance monitoring programs, remediation processes, corrective actions, and risk mitigation strategies.
• Liaised with risk management, internal audit and employee services departments to direct compliance issues to appropriate channels for investigation and resolution.
• Identified potential areas of compliance vulnerability and risk to develop and implement corrective action plans.
• Established and cultivated productive relationships with regulatory bodies.
• Implemented improvement initiatives and developed a compliance testing program to monitor and identify gaps in new and existing practices.
• Created and maintained effective compliance monitoring and reporting systems.
• Established and maintained relationships with regulatory agencies and industry organizations.
• Led compliance risk assessments and worked to mitigate identified risks.
• Participated in industry conferences and workshops to stay abreast of regulatory changes.
• Represented the company in compliance matters and enforcement actions.

Key Achievements

• Reduced the total running costs of the Compliance by 70% through an effective KPI monitoring system.
• Implemented best Compliance practices which reduced Data Breach discrepancies by 95%.
• Improved the Standard Operating Processes by introducing controls/improvements to reduce time/money/resources.
• Effectively established the Compliance Division of the bank with the CCO as required by regulation and implemented the GDPR policies in the bank within 6 months.
• Implemented an effective NDPR/GDPR and Data Privacy monitoring and analysis system to identify potential breaches by ensuring compliance with regulatory requirements and internal policies.
• Developed and implemented effective transaction monitoring systems and controls, resulting in a 90% reduction in potential GDPR/AML risks.

Role Outline

Responsible for ensuring that the company is conducting its business in full compliance with all national and international laws, including regulations. Creation, review, and implementation of policies, procedures, and best practices within the industry. Applying and interpreting audit and compliance requirements for various departments. Engage and interact with external auditors on matters related to audits of the organization's internal controls, and assess potential fraud activity.

Key Responsibilities

• Developed and implemented company-wide compliance programs.
• Ensured regulatory compliance with all relevant laws and regulations.
• Conducted compliance audits and investigations.
• Provided compliance training to employees at all levels.
• Assisted in the development of compliance policies and procedures.
• Successfully developed and implemented compliance programs to ensure adherence to regulations and internal policies.
• Managed and conducted internal investigations to address compliance violations and mitigate risks.
• Established strong relationships with regulatory agencies and auditors to facilitate smooth compliance audits.
• Designed and delivered comprehensive training programs for employees on compliance policies and procedures.
• Provided expert guidance and advice to executive leadership on compliance matters and risk management strategies.
• Successfully implemented company-wide compliance policies and procedures.
• Managed regulatory filings and submissions to ensure timely and accurate compliance.
• Developed and delivered compliance training programs for employees at all levels.
• Conducted internal investigations and audits to identify and resolve compliance issues.
• Collaborated with legal and risk management teams to address specific compliance concerns.
• Dealing and being the point of contact for the regulators.
• Conducting regular GAP analysis on new and updated controls and best practices in the industry.

Key Achievements

• Implementing new compliance strategies resulted in a 60% reduction in vendor cost
• Reduced the total running costs of the team by 70% through proper KPI and SLA profiling.
• Cut monthly close time by an average of 65% through online task monitoring for Hybrid working staff.
• Streamlined compliance finance reporting process, resulting in savings in available compliance resources
• Improved accuracy of Compliance & Data Privacy reports by 50%
• Conducted yearly operational audits to ensure the company meets operational requirements.

Role Outline

Responsible for providing independent assurance on the adequacy and effectiveness of internal controls, risk management, and governance processes. The role involves continuous on-site audit oversight, compliance monitoring, financial and operational audits, fraud risk assessment, and advisory support to management to enhance operational efficiency and regulatory compliance.

Key Responsibilities

• Conducted continuous on-site audits of financial, operational, and compliance activities to ensure adherence to internal policies, regulatory requirements, and best practices.
• Reviewed and evaluated the effectiveness of internal control systems, identifying control gaps and recommending corrective actions.
• Performed risk-based audit planning, execution, and reporting in line with approved audit programmes.
• Examined accounting records, financial statements, vouchers, and supporting documents for accuracy, completeness, and integrity.
• Monitored compliance with statutory, regulatory, and organizational policies, including AML/CFT, operational, and financial controls.
• Investigated suspected fraud, irregularities, and policy breaches, and prepared detailed investigative reports.
• Prepared periodic audit reports, highlighting findings, root causes, risk ratings, and practical recommendations.
• Followed up on audit issues to ensure the timely implementation of management action plans and provided advisory support to management on control improvements.

Key Achievements

• Identified and reported control weaknesses that led to improved internal controls and reduced operational and financial risk exposure.
• Successfully detected and escalated fraudulent and irregular transactions, resulting in loss prevention and recovery of funds.
• Improved compliance levels through continuous audit presence and timely corrective recommendations.
• Contributed to enhanced financial discipline and transparency across audited units.
• Supported management in strengthening risk management and governance frameworks.
• Achieved timely closure of audit findings, improving audit ratings and regulatory outcomes.
• Played a key role in maintaining a strong audit and compliance culture within the organization.