Risk & Compliance Manager

VACANCY ANNOUNCEMENT@ Public Service Pension Trust Fund (PSPTF)

POSITION: RISK & COMPLIANCE MANAGER

Location: Lilongwe

OVERVIEW

Public Service Pension Trust Fund (PSPTF) is an Institution established in compliance with the Pension Act (CAP 55:02) to oversee the administration of the Public Service Contributory Pension Scheme.

The Fund invites applications from suitably qualified Malawians to fill the position of Risk & Compliance Manager at its Secretariat Office. The successful candidate shall be appointed on a three-year contract, renewable subject to satisfactory performance.

POSITION DETAILS

Position| Risk & Compliance Manager

Grade| PTF2

Division| Risk and Compliance

Location| Secretariat

Reporting to| Principal Officer

Direct Supervisees| Risk Officer; Compliance Officer

PURPOSE OF THE JOB

The Risk & Compliance Manager is responsible for developing, implementing and monitoring the Pension Fund's Enterprise Risk Management (ERM), compliance and business continuity frameworks.

The role safeguards the Fund's assets, members' benefits and reputation by embedding sound risk governance, regulatory compliance—including Anti-Money Laundering/Countering the Financing of Terrorism (AML/CFT)—and resilience practices across the organisation.

KEY DUTIES AND RESPONSIBILITIES

1. Annual Business Planning

- Contribute to the development of short- and long-term Fund strategy with strong risk and compliance integration.

- Develop, review and monitor execution of the Risk and Compliance Strategy.

- Align the functional business plan with the Fund's overall strategy.

- Cascade the annual plan into quarterly and monthly deliverables.

2. Risk & Compliance Governance

- Implement an Enterprise Risk Management (ERM) framework aligned with pension industry corporate governance standards.

- Establish and continuously improve a consistent operating framework for identification, management, monitoring and reporting of risk and compliance issues.

- Develop and update risk and compliance policies, procedures and programmes in line with the ERM framework and applicable pension regulations.

- Support engagement with pension regulators, trustees, auditors and industry bodies on risk and compliance matters.

- Establish a risk champions/coordinators network across the Fund.

3. Compliance and AML/CFT Management

- Assist business units in establishing and embedding a culture of compliance.

- Champion and ensure that AML/CFT requirements are embedded within the Fund.

- Manage the execution of the second-line AML/CFT monitoring and assessment programme.

- Improve and maintain AML/CFT policies and procedures.

- Provide compliance reporting and ensure completion and proper analysis of suspicious activity reports.

- Ensure detailed and prompt investigation of AML/CFT incidents and cases.

- Maintain a proper register of incidents reported internally and externally.

- Assist in improving tools used to monitor, analyse and report suspicious activity.

- Monitor the performance of the compliance programme and take steps to improve its effectiveness.

- Identify applicable pension, financial services and AML/CFT legislation, regulatory directives, rules and regulations, and analyse their impact on the Fund.

- Ensure internal policies do not contravene current or proposed legislation, directives, rules and regulations.

- Report compliance breaches to the Principal Officer and Risk & Compliance Committee on a monthly/quarterly basis.

- Prepare and implement compliance risk management plans covering the Fund's external and internal compliance universe.

- Prepare compliance monitoring reports and impact analyses of new laws, directives and regulations.

- Formulate and implement the Fund's annual compliance plan.

- Develop compliance risk monitoring tools and training materials for compliance awareness sessions.

- Prepare and submit regulatory reports to the Registrar of Financial Institutions through the Principal Officer.

4. Risk Management

- Define and communicate the Fund's risk appetite and tolerance levels.

- Monitor emerging risks and adjust risk appetite where necessary.

- Develop and deploy quantitative risk models to assess potential impacts on strategic and funding objectives.

- Conduct strategic and funding-level risk stress testing.

- Assess financial risks affecting Fund assets, including liquidity, investment and credit risks.

- Coordinate funding and actuarial risk with the actuarial function to improve valuation and pricing accuracy.

- Strengthen internal controls and manage third-party and custodian risks.

- Prevent fraud and enhance incident response and operational risk stress-testing processes.

- Monitor regulatory changes affecting the pension industry and ensure timely implementation.

- Manage complaints reporting.

- Develop and maintain a Fund-wide risk register covering strategy, assets, members' benefits, products, operations, systems and related processes.

5. Risk & Compliance Reporting and Monitoring

- Implement Key Risk Indicators (KRIs) and Key Control Indicators as early-warning mechanisms.

- Submit integrated risk and compliance reports to the Board through the Principal Officer.

- Coordinate with Internal Audit to monitor and report on resolution of audit recommendations, risk action plans and regulatory findings.

- Review internal controls and procedures to mitigate risks and reduce exposure.

- Manage incident and fraud reporting.

6. Business Continuity Management

- Establish Business Continuity Management (BCM) and Crisis Management governance structures.

- Coordinate Crisis Management Committee meetings.

- Update BCM and Crisis Management policies.

- Maintain the Business Continuity Plan (BCP), Disaster Recovery Plan (DRP) and Crisis Management Plan (CMP) in line with ISO standards.

- Test and review BCM/DR frameworks.

- Report BCM programme status to the Board Risk Committee.

7. Strategy Execution and Performance Management

- Translate corporate strategy into actionable plans, KPIs and aligned risk-adjusted targets.

- Monitor enterprise performance through integrated dashboards and insights.

- Support delivery of strategic initiatives.

- Establish governance frameworks for strategy review, accountability and escalation to the Board.

- Integrate risk and compliance considerations into strategy execution and monitor their impact on business objectives.

8. Awareness, Capacity Development and Culture Embedding

- Assess Fund-wide risk and compliance training needs and develop a formal training programme and competence model with the People and Culture Department.

- Conduct ERM, BCM, compliance and AML/CFT awareness and refresher training.

- Assign risk and compliance ownership across departments.

- Promote consistent risk and compliance terminology and awareness.

- Develop, update and monitor the effectiveness of the ERM framework and related internal branding/themes.

PERSON SPECIFICATIONS

Qualifications and Experience

- Master's and Bachelor's degree in Accounting, Auditing, Finance, Risk Management, Business Administration or Law from a reputable university.

- A professional qualification such as CA, CIMA, ACCA, ICAM, Certified Risk Manager, Certified Compliance Professional or equivalent is desirable.

- At least five (5) years' experience in Audit, Finance, Enterprise Risk Management or Compliance, of which three (3) years must have been at management level.

- Previous experience in the pension, insurance or broader financial services industry will be an added advantage.

Knowledge, Skills and Abilities

- Ability to manage and develop staff.

- Excellent verbal and written communication skills.

- Ability to prepare accurate reports.

- Strong planning and organisational skills.

- Strong analytical, problem-solving and decision-making abilities.

- Ability to interact, negotiate and achieve targets.

- Leadership skills and ability to influence cross-functional teams.

- Strong analytical and numerical skills, including risk and financial modelling.

- High level of integrity and ethical decision-making.

- Ability to work under pressure with minimal supervision.

- Good communication and presentation skills.

- Commercial awareness and understanding of broad business and pension-industry issues.

- Working knowledge of compliance software, data compilation and regulatory reporting tools.

- Sound understanding of legal practices, policies, procedures and quality assurance methodologies relevant to risk and compliance.

METHOD OF APPLICATION

Interested and suitably qualified Malawian candidates should submit their application packages in PDF format to:

Email: vacancies@psptf.mw

Applications should be addressed to:

The Statutory Manager

Public Service Pension Trust Fund

P.O. Box 30146

Lilongwe, Malawi

The application package should include:

1. Cover letter confirming interest and availability.

2. Curriculum Vitae containing detailed work experience and three traceable referees.

3. Soft copies of higher education and professional certificates.

Closing date: 24th September 2026

Important: Only applications received through vacancies@psptf.mw will be reviewed. Applications submitted through any other channel will not be considered.

Only shortlisted candidates will be contacted.