DFS LTD is hiring skilled individuals to join its growing team in the following position tenable at their offices in LILONGWE:
JOB PURPOSE
The Risk and Compliance Officer is responsible for promoting a strong risk management and compliance culture, safeguarding the institution against operational, financial, legal and reputational risks, and ensuring adherence to the requirements of the Reserve Bank of Malawi and other regulatory authorities.
Job Summary
- Type: full-time
- Location: Lilongwe
- Category: Banking & Finance
- Closing Date: 2026-07-27
Key Responsibilities
- Develop, implement and monitor the institution’s risk management framework.
- Identify, assess and mitigate operational, credit, market and liquidity risks.
- Ensure compliance with the Reserve Bank of Malawi regulations, AML/CFT requirements, and other applicable laws.
- Conduct compliance monitoring and periodic risk assessments across all departments.
- Develop and review risk policies, procedures and internal controls.
- Investigate compliance breaches and recommend corrective actions.
- Monitor Key Risk Indicators (KRIs) and prepare regular risk and compliance reports for management.
- Coordinate regulatory reporting and facilitate regulatory examinations and audits.
- Promote a strong risk and compliance culture through staff awareness and training.
- Support business units in implementing effective controls while achieving business objectives.
Requirements
- Bachelor’s Degree in Risk Management, Banking & Finance, Accounting, Economics, Business Administration, Law, or a related field.
- Minimum of 3 years’ relevant experience in risk management, compliance, internal audit or financial services.
- Good understanding of the Financial Services Act, Reserve Bank of Malawi Prudential Standards, and AML/CFT regulations.
- Strong analytical, report writing and problem-solving skills.
- Excellent communication and interpersonal skills.
- High level of integrity, professionalism and attention to detail.
- Proficiency in Microsoft Office applications, particularly Excel and Word.
- Professional qualifications such as CRM, CAMS, ICA, ACCA, CISA, CIA, FRM, or other relevant certifications. (Added Advantage)
- Experience in a deposit-taking microfinance institution, commercial bank or regulated financial institution. (Added Advantage)
- Knowledge of Enterprise Risk Management (ERM) frameworks. (Added Advantage)
- Experience with regulatory reporting and compliance monitoring tools. (Added Advantage)
- Experience conducting AML/CFT risk assessments and compliance reviews. (Added Advantage)
How to Apply
About the Company
Dream Financial Services Ltd operates as a key microfinance institution within Malawi, based prominently in Blantyre. The company delivers a diverse portfolio of financial products, including business, personal, and payroll-based loans, alongside micro-credit and micro-insurance offerings. Beyond lending, Dream Financial Services Ltd actively provides financial literacy training and advisory services to small and medium enterprises (SMEs) and individuals across the nation. Its core mission is to empower Malawian individuals and small businesses, enabling them to achieve their financial objectives and contribute robustly to the country's economic development. By focusing on accessible and responsible financial solutions, the firm plays a vital role in enhancing livelihoods and fostering local entrepreneurial growth.
Innovative financial solutions empowering individuals and businesses in Malawi.
Frequently Asked Questions
What are the typical educational qualifications and certifications expected for a Risk and Compliance Officer role in a Malawian financial institution?
Candidates usually require a Bachelor's degree in Finance, Accounting, Law, or Business Administration from a recognized university. Professional certifications like CAMS (Certified Anti-Money Laundering Specialist) or a qualification in risk management are highly advantageous and often preferred by employers in Malawi.
What would be the common day-to-day responsibilities of a Risk and Compliance Officer at a financial services company in Malawi?
Daily tasks involve monitoring transactions for suspicious activities, ensuring strict adherence to local banking regulations issued by the Reserve Bank of Malawi (RBM), and drafting detailed compliance reports. You would also be involved in developing and implementing robust risk management policies and conducting staff training on compliance matters.
What is the typical work culture and what are the general expectations for a professional in this role within the Malawian financial sector?
Malawian financial institutions generally value professionalism, diligence, and a strong adherence to ethical standards and regulatory frameworks. Expect a structured environment with emphasis on collaboration, clear communication, and a proactive commitment to upholding regulatory integrity.
What are the realistic career progression opportunities for a Risk and Compliance Officer in Malawi's banking and finance industry?
A Risk and Compliance Officer can typically progress to Senior Compliance Officer, Risk Manager, or even Head of Compliance within the institution. With further experience and specialization, roles such as Chief Risk Officer or consulting opportunities within the broader financial sector are possible.
What kind of benefits package can a Risk and Compliance Officer typically expect from a financial services employer in Malawi?
Common benefits include competitive leave allowances, comprehensive medical aid schemes, and contributions to a pension fund. Some institutions may also offer professional development support or performance-based bonuses, varying by employer and experience.