Risk & Compliance Officer

Prime Insurance Company Limited is inviting applications from suitably qualified candidates to fill the position of Risk and Compliance Officer tenable at its Head Office in Chief Kilupula Building – Lilongwe. The Risk & Compliance Officer will be reporting to the Risk & Compliance Manager. This role will be responsible for assisting in identifying, analyzing, and mitigating risks in our operations, while also supporting financial processes and ensuring regulatory compliance across various regulatory frameworks.

1. KEY RESPONSIBILITIES

• Conduct comprehensive risk assessments across the company departments and branches
• Develop, implement and maintain risk management and compliance programs, policies, strategies and processes
• Champion risk management processes to improve efficiency and accuracy across all offices
• Rate controls and translate operational risks into quantitative reports, considering departmental variations
• Develop and monitor Key Risk Indicators (KRIs) that are relevant to each department and branch
• Collaborate with different departments and branches to ensure risk management practices are integrated throughout the organization
• Prepare and present risk analysis reports
• Stay updated on emerging risks, industry trends and regulatory changes and requirements related to risk management in the insurance market Ensure effective data management practices that comply with various data protection regulations.
• Identifying potential compliance issues and recommending appropriate actions.
• Investigating and reporting violations of laws or regulations.
• Creating sound internal controls and evaluating business activities for compliance risk.

2. QUALIFICATIONS AND EXPERIENCE

• A Bachelors’ Degree in Auditing, Accounting, economics, Statistics, Mathematics or Finance obtained from a reputable and a NCHE accredited University.
• Professional qualifications such as ACCA, CIA, CFA and CRM will be an added advantage
• Not less than three years work experience in Audi or Enterprise Risk Management in reputable commercial organization.

3. SKILLS AND PERSONAL ATTRIBUTES

• Strong interpersonal skills
• Analytical and logical thinker with good problem solving skills.
• Ability to plan and organize in line with job requirements
• A good working knowledge of computer applications e.g. Microsoft office,

4. SUBMISSION AND APPLICATION

Qualified and interested individuals should submit applications and detailed Curriculum Vitae with copies of certificates and names of three (3) traceable referees in sealed envelopes clearly marked “Vacancy: Risk and Compliance Officer” not later than 16:00 hours 30th October, 2024 to:

The Chief Executive Officer
Prime Insurance Company Limited
Chief Kilupula Building
P. O. Box 30280
Capital City
LILONGWE 3

Email: prime@primeinsurance.mw, mbulugama@primeinsurance.mw

Only shortlisted applicants will be acknowledged.