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Risk & Compliance Officer at Msilikali SACCO

  • Full Time
  • Lilongwe
  • Applications have closed
  • Salary: 00

Msilikali SACCO

Msilikali SACCO, an affiliate of Malawi Union of Savings & Credit Cooperatives Ltd (MUSCCO), is a member owned and democratically controlled financial cooperative society that aims at providing quality and affordable financial services to its members (Malawi Defence Force Employees) and has also currently opened the services to Government Ministries, Departments and Agencies employees Civil servants).

Therefore, Msilikali SACCO invites application from suitably qualified candidates for the following positions tenable at its Head Office in Lilongwe.

Risk & Compliance Officer
This function will ensure that business risks are identified, analyzed, assessed, treated and monitored as well as ensuring compliance to regulatory requirements and internal policies, processes and procedures.

Duties and Responsibilities

Compliance Management

    • Preparing and implementing compliance activities including compliance budget
    • Development of training program to ensure board, management and staff are kept abreast of the regulations and internal policies and procedures
    • Designing, developing and implementing the Compliance Risk Management plan
    • Identifying potential areas of compliance risk vulnerability; developing corrective action plans and resolutions with risk owners to address the non-compliances.
    • Conducting compliance audits in line with regulatory requirements and internal conditions.
    • Ensuring that the various departments and branches/outlets comply with standards as well as regulatory requirements.

Risk and Internal Controls

    • Identifying and managing risks that hinder the achievement of Msilikali SACCO’s goals and objectives.
    • Conducting compliance risk assessments on Msilikali SACCO’s risk appetite including credit, market and operational risks.
      Assessing the adequacy of controls and recommend appropriate measures to reduce associated risks
    • Review of credit risk (concentration risk et el) and ensuring exposures are in line with the regulatory requirements
    • Following up with relevant heads of department on action points/ recommendations and make sure they are cleared in a timely manner. This includes follow up on internal & External audit recommendations
    • Re-engineering the business processes to eliminate operational inefficiencies
    • Developing and monitoring the Business Continuity Management (BCM) activities
    • Facilitating the creation and updating of risk registers by heads of departments and branch managers
    • Compile and present quarterly risk management reports to the board of directors.
    • Undertake special investigations as directed by management
    • Conducting internal reviews and audits

Policy Development and Review

    • Coordinate the development or review of Msilikali SACCO policies and procedures manuals
    • Coordinating the policy review committee and ensuring that all policy manuals are updated annually and dully approved by the board of directors

Qualifications & Skills

    • Recognized degree in Accounting / Business Administration / Business Management / Internal Audit or any related field with 3 years’ experience in risk and compliance.
    • Understanding of SACCO or Financial Cooperative business model
    • Knowledge of Fin-Financials Core banking system or any banking system
    • Experience in using Micro soft Office packages
    • Adaptable to new concerns and changing environments
    • Analytical risk assessment skills
    • Problem-solving and strategic thinking skills

Method of Application
Application letter, CV and copies of certificates should be forwarded to email below, not later than 6th January 2023. Email:

Address applications to:

The General Manager
Msilikali SACCO
Kamuzu Barracks
P/Bag 43

Only short-listed applicants will be acknowledged. MSILIKALI SACCO is an equal opportunity employer.