Compliance Officers (2 Posts)

Job Description

Brief description of the job

The Compliance officer is a member of the compliance function. S/he operates within Risk and Compliance Department and is responsible for assisting the Compliance Manager in the execution of his/her role in that respect. The Compliance Officer works hand in hand with the Compliance Manager advising the Management Board in the utmost professional and appropriate way, regarding risks that might emerge in respect of non-compliance to statutory/regulatory obligations.

S/he is an integral part of the compliance team and should possess the primary responsibility of understanding and appropriately managing compliance risks. The Compliance Officer assists the Compliance Manager in ensuring that risks related to non-compliance with regulatory bodies are identified, measured, managed and monitored on a continuous basis in line with the country’s regulatory requirements and best industry practice.

 Essential Duties and Responsibilities:

Anti-Money Laundering (in relation to the FCA 2017)

• Assist the Compliance Manager (CM) in carrying out AML/CFT/CPF monitoring activates to identify red flags and file suspicious transaction reports (STR)s to FIU once determined.
• Assist the CM in conducting AML/CFT investigations on reported suspicious activities
• Assist the CM in completion of the AML/CFT self-risk assessment and risk registers
• Carry out compliance reviews in accordance with the requirements of the FCA
• Conduct AML/CFT risk assessment on products/services, geographical location, customers and delivery channels.
• Assist the Compliance Manager in the development of implementation plans for matters related to AML/CFT.
• Produce reports as required weekly, monthly, quarterly and annually in line the needs to the business and the regulators.
• Ensure that Records and documentation on AML/CFT are kept in good order and in a secure place.
• Assist the Compliance Manager in producing training materials and provision of training to all staff, Directors and Agents in FINCA

Regulatory and Statutory Compliance

• Asist the Compliance Manager in ensuring that policies, procedures and manuals are up to date in line with the provisions of the law through periodic updates.
• Assist the Compliance Manager in conducting subsidiary annual self-assessment of the subsidiary Policies Manual (SPM) in a timely manner.
• Be instrumental in developing systems for reviewing, monitoring, reporting and handling violations and resolving non-compliance to laws and regulations or supervisor requirements.
• Responsible for ensuring that the compliance tracker is updated with new regulations/legislations/directives and is being enforced.
• Assist the Compliance Manager in ensuring compliance with all new and existing laws.
• Ensure that Records and documentation on regulatory compliance are kept in good order and in a secure place.
• Assist the Compliance Manager in the development of compliance risk monitoring tools to assess the adequacy of controls for the identified compliance risks.

Planning and budgeting

• Assist the Compliance Manager in developing the annual budget in line with Compliance Annual Activities.

Other Responsibilities

• Perform other duties as will be required by management board team in line with the FINCA Malawi regulations.

About the Candidate

Qualifications & Experience

• A business-related degree preferably B. Com, BBA, Law, Finance or Economics. Possession of a certification in compliance will be an added advantage.
• Three (3) years’ experience in banking, Internal Audit, Internal controls, Risk Management, legal.
• Excellent communication skills
• Ability to relate with others at all levels.

 What We Offer:

• Competitive salary
• Opportunity to work with a dedicated and supportive team
• Professional development and training opportunities

Interested candidates should submit their resume and a cover letter, with three (3) traceable referees detailing their relevant experience to [email protected]