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Risk and Compliance Manager at Thyolo Teachers SACCO

  • Full Time
  • Thyolo
  • Applications have closed
  • Salary: 000

Thyolo Teachers SACCO

Thyolo Teachers SACCO is a member run registered financial cooperative with its head office in Thyolo but having a coverage of across Malawi through branches and satellite offices. The SACCO is looking for energetic, self-motivated and enthusiastic persons who wish to pursue a carrier in cooperatives development to fill the position of Risk and Compliance Manager. Objective of the risk and compliance management is to add value and improve operations
by bringing a systematic and disciplined approach to the effectiveness of risk management, security control, and governance processes. Hence, the Manager shall provide assurance to management and the board through supervisory committee of the board that departments and branch network are compliant to internal and external regulations and directives, procedures and policies. R & C works with management to ensure risk is managed, security controls are tightened so that the SACCO realizes its strategic goals and reports to the Board.




The successful candidate will have the following key duties and responsibilities among others:

Major Duties, Responsibilities and Accountabilities

1. Compliance

  • Monitor and report compliance to policies and procedures by staff
  • Identify and recommend to management policies and procedures that are relevant to the SACCO’s business and operations
  • Interpret to management and board regulations and directives and guide management on how to adhere to these directives
  • Monitor adherence / compliance to directive and regulations
  • Guide, monitor and recommend to management on implementation of KYM requirements in the SACCO
  • Guide, monitor and direct the SACCO’s compliance to AML requirements

2. Risk management

  • Periodically reviewing risk register of the SACCO and make recommendations to management
  • Test controls in place and recommend reviews to management
  • Monitor policies and procedures being followed
  • Review procedures’ manuals and draw recommendations to management
  • Review disaster recovery procedures.
  • Assess the SACCO’s achievement of the strategic goals and recommend actions for under achievement

3. Security control

  • Guide, monitor and recommend physical security of the entire SACCO
  • Monitor the management of insurance and assurance policies

4. Reporting

  • Report to management how audit issues are closed through a well-prepared audit tracking tool
  • Prepare periodic reports for supervisory committee of the board
  • Report to RBM and other external stakeholders on SACCO’s compliance on a number of requirements:

KYM, AML, Consumer Protection, etc

5. Governance

  • Meet with the audit committee (Supervisory Committee) of the board monthly for reporting on the SACCO’s compliance status and risk management
  • Prepare management and staff for external audits and any other external assessments
  • Arrange for external audits (working hand in hand with the finance and Administration Manager) on behalf of the audit committee
  • Coordinate internal audits, supervisions and RBM onsite assessments in liaison with the Finance and Administration Manager
  • Guide management in drawing action plans for implementing recommendations made through management letters, IAs, regulator’s assessments, etc.

6. People management

  • Plan and implement R & C annual strategy and activities in line with the strategic goals of the department and the entire organization
  • Performance management of self and subordinates’ (performance contracts, appraisals, performance engagements, poor performance management, etc)
  • Lead management of the R & C section


  • Participating in the formulation of plans and budgets as well as managing the resources allocated prudently and in compliance with the financial policies and practices.
  • Carrying out any other duties as may be assigned from time to time.


Education and Experience

  • A bachelor’s degree in Accounting, Finance or any related professional qualifications;
  • Vast experience in a similar job (R & C, operations risk, auditing, etc) in SACCO movement or banking industry
    or any related financial service sector (at least not less than three years of doing a similar job)
  • Advanced computer skills on MS Office, accounting software and databases
  • Ability to manipulate large amounts of data and to compile detailed reports
  • Proven knowledge of auditing standards and procedures, laws, rules and regulations
  • High attention to detail and excellent analytical skills
  • Sound independent judgment
  • High performance attitude, resilience, honest and high integrity.
  • Excellent Written and oral Communication
  • Constructive Feedback; coaching and mentoring skills
  • Leadership skills that include staff motivation
  • Focused on improving efficiency without compromising members service and quality
  • Good organizational and time management skills
  • Determination and the drive to work towards targets
  • Good business sense and a professional manner
  • Knowledge and experience in organizational effectiveness and operations management implementing best practices.
  • Excellent interpersonal skills and a collaborative management style.




Interested persons should submit their applications with detailed curriculum vitae (CV), copies of academic and professional certificates and contact details of at least three traceable referees, two of which should be from previous and/or current employer(s) and these must be submitted to the following address or hand delivered by close of business on 20 November, 2022 to:

The SACCO Manager
Thyolo Teachers SACCO
P.O. Box 175