TNM MyJobo Sponsor

Job Detail


Job Description

Main Purpose of the Role

The main purpose of the role will be to implement and administer Compliance Management for the Company in accordance with the Select Group standard policies and procedures, and as required by Malawi Laws and Regulations

Key Deliverables of the Compliance Officer

  • Anti-Money Laundering (`AML”)/Combating Financing of Terrorism (“CFT’) duties as required by the Malawi laws.
  • Acting as the contact point responsible and liable for all AML/CFT compliance duties as per below
  • Implement internal AML/CFT compliance programmes and procedures, including reporting and proper maintenance of records.
  • Conduct AML assessments and ensure that processes and systems meet company policies and procedures, as well as regulatory requirements
  • Conduct compliance checks on documents and sign off on behalf of compliance (i.e) Know Your Customer (`KYC”) checks), including enhanced due diligence on high risk clients.
  • Request Dow Jones clearance on all new clients or per guidelines of the Company AML requirements
  • Compile data, liaise with signatories and Statutory for missing KYC documents and provide the same to the concerned banks
  • Identify and report suspicious transactions to the Malawi Financial Intelligence Authority CFIA”)
  • This includes the review of suspicious transaction reports made by Employees and deciding whether a suspicious transaction report needs to be made.
  • Submit such report to the FIA in the prescribed manner
  • Carry out ongoing monitoring of ML/TF within the entity including setting up of structures that will allow continuity of ML/TF monitoring in the compliance officers absence
  • Review KYC records on a yearly basis to ensure that they are complete, up to date and accurate.
  • Assist the Group Head of Compliance in setting up a process that identifies suspicious transactions.
  • Monitor clients and their transactions on an ongoing basis
  • Implement transaction monitoring programme to detect complex, unusual large transactions and unusual patterns of transactions, which have no apparent economic or lawful purpose.
  • Ensure that there is ongoing training of staff on AML/CFT and maintain records of the said training and attendees.
  • Ensure that all employees receive the required compliance training on an ongoing basis.
  • All training must include the following key requirements face-to-face delivery, the training must be available electronically, accurate record of attendance, facilitator evaluations, assessment quest.s on content.
  • Ensure that at all times you have full and timely access to customer identification data transaction records and other relevant information
General Compliance duties-
  • Regulatory Interaction.
  • Renew all regulatory interaction received by the Regulator
  • Coordinate responses to all regulatory requests for information
  • Draft the necessary communication to Regulators.
  • Manage on-site inspections and manage the report becks to Regulators
  • Maintain strong working relationships with all regulatory stakeholders (RBM, FIA, etc.)
  • Ensure that the Company is appropriately represented at regulatory forums
  • Ensure that all regulatory submissions (i.e. annual licence renewal fees. annual reporting. quarterly reports, monthly returns, ad hoc returns) are filed timeously.
Risk Management Plans.
  • Compile and maintain a Register of Legislation which contains all such laws, regulations, rules and standards applicable to the entities
  • Compile and maintain a Register of Obligations listing alp applicable regulatory obligations and associated key internal and external compliance risks
  • Implement routine and ad hoc compliance monitoring procedures in order to ensure the entity is compliant with relevant compliance policies, procedures and obligations.
  • Design and implement Control Mechanisms i.e. Risk Management Plans / Self-assessments of the controls in place to meet regulatory obligations
  • The Risk Management Plan includes coverage, but is not limited 10, the following laws/regulations: Financial Institutions Act 2010; Micro-finance Act (2010) regulations and rules thereunder, Financial Crimes Act 2017 regulations and rules thereunder, Consumer Protection Act 2003 regulations and rules thereunder; Corrupt Practices Act (1995) regulations and rules thereunder; and any other laws forming part of the Company’s Regulatory/ Compliance Universe, Policies and Procedures
  • Together with the Group Head of Compliance, perform compliance planning, develop compliance policies and procedures and collaborate closely with the operations team as required it.
  • Review and monitor internal practices and procedures to ensure compliance with regulatory and Group requirements and current policies.
  • Provide guidance and advice on compliance related issues to key stakeholders, both within the compliance and the business silos, delivering timely, reliable and quality orientated service to stakeholders.
  • Escalate key compliance breaches to senior management and be involved in the enforcement of any remedial action, which shall include disciplinary action for internal staff breaches with regard to compliance breaches.
  • • Report on all new or proposed rules or regulations being introduced that may have an impact on the business
Internal Reporting
  • Report on compliance related matters to management and the Group Head of Compliance
  • Compliance related matters include -imminent statutory deadlines, new legislation. rules, regulations, regulator interactions, risks, breaches and exposures, achievements, initiatives and projects, compliance implementation plan status update, any compliance audit findings, statistical reporting on compliance related themes breaches, material incidents and near misses.
Internal Audit
  • In cooperation with the Internal Audit team, schedule and conduct compliance audits and reviews
  • Assist Group Internal Audit function with any necessary documentation and data as would be required to form an opinion of Me control environment 

  • Assist the Group Head of Compliance to identify any changes/enhancements required in terms of existing compliance related training or the need to develop new training programmes
  • Deliver training in accordance with the compliance training program (AML, Market Abuse. etc) in All training must include the following key requirements: face-to-face delivery, the training must be available electronically, accurate record of attendance, facilitator evaluations, assessment questions on content.

Reporting Structure

The Compliance Officer will report functionally, to the Group Compliance Officer and, administratively, to the Chief Executive Officer – Malawi

The Candidate

We seek the following in our desired candidate.

Qualification Requirement

  • A relevant undergraduate qualification (BA LLB or similar degree is preferable).
  • A relevant Compliance Officer’s Examination will be advantageous

Experience / Background Preference
  • Candidates will have no less than three years relevant experience.
  • Experience within the financial services industry is essential
  • Familiarity with and knowledge of the compliance and regulatory requirements of a financial institution operating in Africa will be advantageous.
  • A strong command of English, both written and verbal, is a requirement of the role

Key Competencies

The successful candidate will need to demonstrate the following.
  • Self-assurance and a confident manner
  • Excellent interpersonal and communication skills, both verbal and written
  • Established negotiation skills and sound judgement
  • Ability to handle multiple tasks within strict bins frames within a fast-paced environment
  • Strong attention to detail
  • A sell-starter who shows initiative and assumes responsibility for protects
  • Ability to work independently
  • A team player who interacts confidently with senior management clients and professional advisers
  • A strong work ethic.


The position is based at our Malawi Head Office located In Centre House Arcade, Ground Floor, Robert Mugabe Crescent, Lilongwe


An annual cost to company remuneration package, which will be commensurate with the technical skills and experience of the successful candidate.

How to apply

Please forward applications to:

The Chief Finance Officer


Closing data for applications is Wednesday 13th November 2010.

If you do not hear from us within two weeks, please consider your application for this particular vacancy unsuccessful. In this instance, please be assured that we shall retain your application and will be in touch should a suitable opportunity arise in the future

Skills Required

Related Jobs

Job Detail

  • Location
  • Company
  • Type
    Full Time
  • Positions
  • Apply Before
    14 Nov, 2019

Google Map