Victor Rugeiyamu
Dar es Salaam
Summary
- Seasoned Executive in the financial services industry with an international work experience profile and track record of delivering results
- Business acumen acquired over a 25 year career in the financial services industry
- A deep understanding of advanced Risk Management and Regulatory Compliance, having operated in executive roles in large financial institutions in these areas
- Excellent leadership abilities with experience of leading large and complex teams in various corporate environments and with a solid record of delivery on objectives
- Recognition by peers and supervisors as a self-motivated self-starter who is able to deliver results
- Proven teamwork skills with a strong attention to group and individual dynamics
- Impeccable Integrity
- Independent-thinker
- Analytical, problem-solving and investigative skills
- Excellent interpersonal and communication skills
Overview
27
27
years of professional experience
1
1
Certification
Work History
Chief Risk Officer
DFCU Bank Ltd
11.2021 - 10.2024
- Working as an expatriate, I served as the Chief Risk Officer (CRO) of DFCU Bank Ltd reporting to the Bank’s Managing Director and a member of the Bank’s Executive Committee (Exco) of one of the largest banks in Uganda
- I was responsible for leading the design, monitoring and implementation of the Bank’s risk processes and frameworks including identifying, analyzing and mitigating both the internal and external risks affecting the Bank’s business as well as incident management
- Provided leadership and guidance to the Credit Risk Management, Operational Risk Management, Market Risk Management, and the Financial Crime functions within the Bank
- Immediate former Exco Program Lead and Sponsor of the bank’s End-to-End Credit Review Program whose objective is to completely revamp the bank’s Credit posture, processes and procedures across the entire credit lifecycle (from origination all the way to recovery and collections)
- Exco sponsor for Eastern Region of Uganda (Jinja, Mbale, Soroti etc.) In this capacity, I worked with the Chief Retail Banking, Eastern Regional Manager and Regional Branch Managers to oversee regional performance and controls
- Exco sponsor for the Energy and Infrastructure Sector
- In this capacity I worked closely with the Chief Corporate and Institutional Banking as well as the respective Sector Head to oversee sector performance in this sector as part of the bank’s overall sector-based strategy
- Overall Exco Program Lead and Sponsor of the bank’s Environmental Social and Governance (ESG) Program
- Developed and maintained an effective risk management system on all the Bank’s business risk categories such as credit risk, market risk and operational risk
- Responsible for the development and design of policies and reporting procedures necessary to identify, measure, monitor, manage and report, on a continuous basis the risks the Bank could be exposed to, at both an individual as well as at an aggregated level
- On an annual basis, I was responsible for establishing the Bank’s risk appetite, monitoring risk exposures against the Board Approved risk appetite limits and reporting thereon to the Board Audit and Risk Committees
- Advised the Board on strategies to mitigate the risks to which the Bank is exposed to, assess, and provide recommendations on all strategic changes, new products and or reinsurance treaties that may be proposed by the business
- Oversaw the implementation of the Bank’s business operational risk framework and ensure the mitigation of material risk through regular engagement with the business
- Engaged with the Regulator on a regular basis to ensure the smooth implementation of the Bank’s risk management objectives as well as managing the supervisory relationship, and support the business in adapting with the evolving external regulatory environment and industry practices
- Created an effective risk and compliance awareness culture in the Bank
- Chairperson of the Financial Crimes Management Committee of the bank – responsible Executive in the Management team for steering the bank’s overall anti-Financial Crimes agenda
- Leveraged business operations knowledge and expertise to mitigate risk and ensure business continuity and resilience
Chief Risk and Compliance Officer
NMB Bank Plc
04.2018 - 09.2021
- Chief Risk and Compliance Officer (CRCO) reporting to the Bank’s Chief Executive Officer and the Board’s Audit, Risk and Compliance Committee and a member of the Bank’s Executive Committee (Exco)
- In this capacity, I was responsible for planning, implementing and coordinating all Risk Management and Compliance activities across one of the largest banks in Tanzania
- This included ensuring quality Credit, Operational, ICT and Market risk management structures are in place and aligned with the business plan and goals of the bank
- It also extended to assessing the adequacy of efforts made by the bank and staff in complying with all regulatory requirements
- Responsible for setting of the strategic direction of all Risk and Compliance activities in the bank and execution thereof by a combined team of over 60 people
- Key responsible member of the EXCO for driving the governance and sustainability agenda of the bank
- This includes ensuring the optimal structure and proper operation of key governance committees in the bank
- Chairing of key Management committees under delegated authority from the CEO and Board
- These include the Risk and Control Committee (RCC), Product Approval Committee (PAC), Loan Portfolio Quality (LPQ), Special Assets and Watchlist Committee (SAM), Anti Fraud Committee, AML and Sanctions Review Committee
- Exco sponsor for Southern Zone (Mtwara, Masasi, Newala etc.) In this capacity, I worked with the Chief Retail Banking, Southern Zonal Manager and Zonal Branch Managers to oversee zonal commercial performance and controls
- Overall Exco Program Lead and Sponsor of the bank’s Data Governance Program
- This included sponsoring and overseeing all initiatives related to modernizing the bank’s data architecture and environment, including data governance and clean-up activities
- Deputy Chair of the Cost Efficiency Committee
- Key participation in all other Management Committees
- Responsible for identifying and assessing all Credit, Operational, ICT and Market Risks issues associated with the bank’s current and proposed future business activities, including new products, systems, processes, new business relationships and any extensions of operations or network
- Through the Head of Compliance, responsible for Regulatory Risk Management and other compliance related requirements as well as AML/CTF and Sanction Risk Governance
- Owner of the Bank Risk Appetite Statement and ERM (Enterprise Risk Management) framework
- Assessing the appropriateness of internal policies, procedures and guidelines spanning the entire Risk and Compliance spectrum
- Where policy or control gaps exist, ensuring policies, procedures or guidelines are amended or drafted accordingly
- For control gap instances, supervising the implementation of corrective measures to mitigate the identified deficiencies/risks
- Coordinating with Internal Audit and front line business units as part of the bank’s Combined Assurance Program to ensure that business units test and update all risk control programs
- Ensuring conformance assessment testing by second line of defense teams
- Ensuring pro-active training programs exist for business managers to understand and actively manage all significant risks inherent to their business for monitoring and control
- Monitor, analyze and develop risk profiles of new areas of activities and ensure that they conform to regulatory requirements
- Ensure appropriate internal controls and procedures for money laundering prevention are in place and functioning as intended
- Overseeing the bank’s compliance risk matrix for all laws/by-laws/circulars and guidelines the bank is subjected to, for regulatory compliance and risk mitigation
- Overseeing the proper working of the bank’s Compliance function to ensure appropriate levels of compliance monitoring and intervention as well as appropriate compliance with internal policies, procedures, guidelines and the training of bank staff
Head of Risk
NMB Bank Plc
Dar-es-Salaam
01.2009 - 04.2018
- Leading the Risk Management Function of one of the largest banks in Tanzania
- Leading a team of over 45 people, working in various risk streams to oversee and monitor the bank’s various risks spread across the main risk management disciplines e.g
- Operational Risk, Credit Risk, Market Risk, Strategic Risk, Reputational Risk, Forensics & Security Risk, and IT Risk
- Coordinating implementation of the bank’s Enterprise Risk Management (ERM) program and related activities in line with best practice frameworks and standards (Basel II and III, ISO 27001, COSO, COBIT)
- Responsibility for delivery of the Enterprise Risk Management (ERM) Operational Risk system project for the bank
- (TZS 1 Billion budget)
- Spearheading the bank’s ICAAP reporting process
- Key participant in the IFRS 9 preparation project
- Coordinator of the bank’s Risk Appetite Statement framework and key officer charged with ensuring that the bank’s operations do not in any way breach key limits outlined therein
- Regular reporting to the Board of Directors and Ex-Co on the same
- Responsibility for implementation of several bank risk policies e.g
- Capital Management, IT Risk, Credit Risk, Operational Risk, Market Risk, Enterprise Risk Management
- Coordinator of the bank’s stress testing framework
- Key stakeholder in the bank’s credit modeling and Funds Transfer Pricing (FTP) frameworks
- Coordinator of various key bank governance committees e.g
- Risk and Control Committee (RCC), Product Approval Committee (PAC), Assets and Liabilities Committee (ALCO), Anti Fraud Committee
- Member of the bank’s Disciplinary Appeals Committee, which is tasked with adjudicating employee appeals to the Managing Director’s Office related to disciplinary measures
- Member of the Credit Committee (Credco) and Loan Portfolio Committee (LPQ)
- Coordinating and driving risk awareness and training programs
- Coordinating the bank’s Strategic Risk Management and planning agenda by ensuring the full identification and treatment of the bank’s strategic risks, in addition to playing a key role in ensuring full alignment between the bank’s annual budgeting process and bank’s overall medium term plan
Regional Branch Supervisor
Wachovia Securities
Charlotte
03.2006 - 12.2008
- Supervised and monitored Wachovia-Investment Services Group (ISG) Financial Advisors within the North Carolina, Florida as well as the Connecticut and Upstate New York Regional Branch Office Complexes to ensure compliance with ISG policies and guidelines
- Assessed broker trade risk and client transaction suitability, and managed 3 regional trade blotters averaging 9,000 trades daily with a net daily dollar average per trade of $75,000
- Monitored all Financial Advisor annuity, stock, bond, option and mutual fund trades, product switches and recommendations to ensure client suitability
- Supervised email correspondences and overall performance of Financial Advisors in the specified regions to ensure compliance with National Association of Securities Dealers (NASD) / New York Stock Exchange (NYSE) rules and directives
- Worked with Regional Sales and Operations Managers in order to establish policies and procedures to be followed by Financial Advisers in the field, so as to ensure maximum compliance with ISG policies
- Provided coaching and training to Financial Advisors about new policies and procedures, as well as the latest updates to standing policies
- Ensured that customer complaints are correctly handled, registered and resolved
- Travelled to assigned regions on a regular basis to provide in-person training and updates pertaining to Firm policies and Securities and Exchange Commission (SEC) best practices
- Backed up Regional Sales and Operations Managers on an as-needed basis, with regards to functions such as order-error correction, sending wire transfers, and approving syndicate order requests
Financial Advisor / Broker
Wachovia Securities Direct
Charlotte
12.2004 - 02.2006
- Engaged in an advisory role with bank investment clients via various channels and performed stock, mutual fund and options trades in their accounts according to client directives
- Contacted clients for pre-arranged advisory discussions about the best investment avenues to pursue
- Followed through on agreed action plans for execution of the clients’ investment wishes
- Performed call-monitoring duties on junior associates to determine quality scores and corresponding commissions and bonuses while also identifying areas for improvement and cross training
- Screened would-be applicants for their suitability for Wachovia brokerage accounts in addition to processing new account opening requests
- Assisted clients with brokerage website navigational issues
- Assisted clients with stock option exercise issues, in addition to 401k retirement-related questions
Technical Support / Online Access Associate
Wachovia/First Clearing
Charlotte
08.2004 - 12.2004
- Answered inbound calls from external clients as well as First Clearing broker-dealers on issues relating to online site access and functionality
- Helped clients with establishing website access in cases where it did not exist
- Performed technical trouble-shooting, where necessary, to look into website access and functionality issues
- Provided technical support on personal finance management (PFM) software-related calls, including Quicken and Microsoft Money
- Assisted external clients and First Clearing vendors with site navigation
Retail Investment Group - Client Services Associate
Wachovia Bank, N.A.
Charlotte
02.2002 - 08.2004
- Triple trained specialist, able to take inbound calls from clients with inquiries on Asset Management, Retirement and Brokerage accounts
- Worked in the licensed specialist's queue, performing functions such as international and domestic wire transfers, as well as money market liquidations
- Assisted with the launch of, and was an initial participant in, the discount brokerage pilot initiative between Retail Investment Group/Wachovia Direct Access and Wachovia Securities Direct
- This involved placing trades and answering advanced trade-related questions
- Provided leadership and mentoring to less-experienced teammates
Licensed Broker / Financial Advisor
Credit Suisse First Boston
Charlotte
06.1999 - 12.2001
- Direct client contact, by way of telephone and email, in order to place equity, mutual funds and option trades per client self-directed requests
- Additional follow up routinely provided
- Anchored team of newly hired employees in addressing escalated client issues, in addition to dealing with complex margin –related concerns
- Cross-sold firm-wide products and services to customers according to the best fit for the client
Customer Service Agent
Hertz Car Rental
Charlotte
07.1997 - 06.1999
- Based out of the Charlotte-Douglas International Airport Terminal in Charlotte, North Carolina
- Provided car rental services to international and domestic travellers
- Cross-sold car upgrades, insurance and fuel packages according to constantly changing customer demands and needs – commission paid on said sales based on derived yield
Education
Masters in Business Administration - M.B.A - Finance
Belk College of Business - University of North Carolina
Charlotte, North Carolina, U.S.A.08.2005
Bachelor of Arts - Economics (Honors/Cum Laudae)
Belmont Abbey College
Belmont, North Carolina, U.S.A.05.1999
Cambridge Advanced Level Certificate - A’Levels
St. George’s College
Harare, Zimbabwe12.1994
Cambridge Ordinary Level Certificate - O’Levels – Distinction -Colors
St. George’s College
Harare, Zimbabwe12.1992
Skills
- Project Management
- Enterprise Risk Management
- Incident response
- Data analytics
- Credit risk management
- Business continuity planning
- Information security
- Stress testing
- Capital management
- Risk mitigation strategies
- Business Intelligence
- Cultural Awareness
- Budgeting and cost control
- Sales Leadership
- Corporate Finance
- Compliance Oversight
- Investment Banking
- Professional Presentation
- Credit Management
- Intermediate Accounting
- Auditing
- Economics
- Strategic Initiative Development
- Wholesale Banking
- Retail Banking
- Report Writing
- Performance Metrics
- Results orientation
- Stakeholder engagement
- Negotiation tactics
- Brand Development
- Marketing expertise
- Crisis Management
- Financial Analysis
- Resource Allocation
- Competitive analysis
- Portfolio management
- Industry partnership development
Affiliations
- Chairman, Risk Committee of the Uganda Banker’s Association, 05/01/23 - 31/10/24
- Tanzania Banker’s Association Financial Crimes Committee, Member
- Tanzania Banker’s Association Risk and Compliance Committee, Member
- Tanzania Banker’s Association Payments Committee, Member
- University of North Carolina Charlotte, Alum, 2005
- Old Georgians Association, Member, 1994
Certification
- Former holder of the following U.S. National Association of Securities Dealers (NASD) professional brokerage licenses, Series 7 (since 1999), Series 63 (since 1999), Series 9 (since 2006), Series 10 (since 2006)
- Financial Risk Manager (FRM) certification, Currently a course participant
- Leading Sustainable Corporations Programme, Oxford University, 2022
- Advanced AML Training for Correspondent Banking Partners, Citibank EMEA, Dubai, 2018
- Chief Risk Officer Academy, Euromoney, London, U.K., 2017
- Development Partner Bank Training Initiative on Fraud Prevention, Rabobank, Rosebank, California, U.S.A (2014), Utrecht, Netherlands (2015)
- Advanced Card Fraud and Chargeback Training, MasterCard, Dubai, 2014
- Leadership Program Graduate, GIBS Business School - University of Pretoria, 2013
- PRINCE II Project Management Certified, APMG International - U.K., 2012
- Risk Management Certification Course in Finance and Banking, KPMG, Stockholm, Sweden (08/11), Cape Town, South Africa (03/12)
Speaking Engagements
SWIFT African Regional Conference, 06/01/19, Accra, Ghana, Managing Change – Mitigating Risk in the Digital World
Personal Information
Date of Birth: 01/02/77
References
Available upon request
Hobbies and Interests
- Politics and Current Affairs
- Business Affairs
- Sports
Languages
English
First Language
Swahili
Proficient (C2)
C2
French
Intermediate (B1)
B1
Timeline
Chief Risk Officer
DFCU Bank Ltd
11.2021 - 10.2024
Chief Risk and Compliance Officer
NMB Bank Plc
04.2018 - 09.2021
Head of Risk
NMB Bank Plc
01.2009 - 04.2018
Regional Branch Supervisor
Wachovia Securities
03.2006 - 12.2008
Financial Advisor / Broker
Wachovia Securities Direct
12.2004 - 02.2006
Technical Support / Online Access Associate
Wachovia/First Clearing
08.2004 - 12.2004
Retail Investment Group - Client Services Associate
Wachovia Bank, N.A.
02.2002 - 08.2004
Licensed Broker / Financial Advisor
Credit Suisse First Boston
06.1999 - 12.2001
Customer Service Agent
Hertz Car Rental
07.1997 - 06.1999
- Former holder of the following U.S. National Association of Securities Dealers (NASD) professional brokerage licenses, Series 7 (since 1999), Series 63 (since 1999), Series 9 (since 2006), Series 10 (since 2006)
- Financial Risk Manager (FRM) certification, Currently a course participant
- Leading Sustainable Corporations Programme, Oxford University, 2022
- Advanced AML Training for Correspondent Banking Partners, Citibank EMEA, Dubai, 2018
- Chief Risk Officer Academy, Euromoney, London, U.K., 2017
- Development Partner Bank Training Initiative on Fraud Prevention, Rabobank, Rosebank, California, U.S.A (2014), Utrecht, Netherlands (2015)
- Advanced Card Fraud and Chargeback Training, MasterCard, Dubai, 2014
- Leadership Program Graduate, GIBS Business School - University of Pretoria, 2013
- PRINCE II Project Management Certified, APMG International - U.K., 2012
- Risk Management Certification Course in Finance and Banking, KPMG, Stockholm, Sweden (08/11), Cape Town, South Africa (03/12)
Masters in Business Administration - M.B.A - Finance
Belk College of Business - University of North Carolina
Bachelor of Arts - Economics (Honors/Cum Laudae)
Belmont Abbey College
Cambridge Advanced Level Certificate - A’Levels
St. George’s College
Cambridge Ordinary Level Certificate - O’Levels – Distinction -Colors
St. George’s College
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