Risk And Compliance Trainee at Jubilee Life Insurance

Risk And Compliance Trainee at Jubilee Life Insurance

Risk and Compliance Trainee

Jubilee Life Insurance

Dar es Salaam – October 2025

Location: Dar es Salaam, Tanzania
Reports To: Risk and Compliance Officer
Duration: 6 – 12 Months

About Jubilee Insurance

Jubilee Insurance was established in August 1937 as the first locally incorporated insurance company based in Mombasa. Over the years, it has grown to become the largest composite insurer in East Africa, offering Life, Pensions, General, and Medical Insurance.

With operations in Kenya, Uganda, Tanzania, Burundi, and Mauritius, Jubilee Insurance serves over 450,000 clients and is the only ISO-certified insurance group listed on the Nairobi Securities Exchange (NSE), Dar es Salaam Stock Exchange (DSE), and Uganda Securities Exchange (USE).

The company’s regional offices are recognized for excellence in leadership, quality, and risk management—holding an AA- rating in Kenya and Uganda, and an A+ rating in Tanzania.
For more information, visit www.jubileeinsurance.com.

Role Purpose

The Risk and Compliance Trainee will support the integration and implementation of risk strategies, policies, and procedures to ensure compliance with applicable laws, regulations, internal policies, and ethical standards.

Key Responsibilities

Operational Duties:

• Liaise with regulators (TIRA, TRA, FIU) on compliance-related matters as per Tanzanian laws.
• Track legal and regulatory changes and advise management on necessary policy updates.
• Prepare and submit regulatory reports and disclosures.
• Conduct compliance risk assessments across all departments.
• Monitor high-risk transactions and ensure due diligence.
• Draft, update, and monitor compliance policies, manuals, and internal codes of conduct.
• Ensure all staff receive training and are aware of compliance requirements.
• Implement and manage Data Protection, AML/CTF policies, and procedures.
• Conduct regular KYC reviews and monitor suspicious transactions.
• File Suspicious Transaction Reports (STRs) with the Financial Intelligence Unit (FIU) and submit required reports to the Personal Data Protection Commission.
• Design and conduct compliance and ethics training for employees and agents.
• Promote a strong culture of compliance and integrity across the organization.
• Coordinate and support internal and external compliance audits.
• Investigate potential compliance breaches and recommend corrective actions.
• Maintain compliance incident logs and follow up on remediation.
• Prepare and present compliance reports to senior management and the Board Audit & Risk Committee.
• Produce monthly, quarterly, and annual compliance status reports.
• Stay updated on insurance regulations and industry best practices.
• Ensure adherence to Tanzanian laws, insurance industry policies, and company procedures.
• Identify and mitigate emerging business risks through proactive compliance measures.

Qualifications and Requirements

• Bachelor’s degree in Law, Insurance, Actuarial Science, Risk, Compliance, or a related field.
• 1–2 years of experience in risk management or compliance.
• Strong understanding of risk management regulations and compliance requirements in the insurance sector.
• Excellent analytical, problem-solving, communication, and interpersonal skills.
• Proven ability to work effectively with cross-functional teams.
• Highly detail-oriented, organized, and capable of managing multiple priorities.
• Proactive approach to keeping abreast of regulatory developments.
• Experience working in regulated sectors or complex business environments and developing strong stakeholder relationships.

Application Process

Interested candidates should submit their applications by 31 October 2025, quoting the job title, to:
[email protected]

Only shortlisted candidates will be contacted.