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Compliance Officer Role and Responsibilities in Zimbabwe: A Vital Position in Risk Management

In Zimbabwe, compliance officers play a crucial role in ensuring that organizations adhere to regulatory requirements and maintain a risk-conscious culture. The position requires individuals with expertise in risk management, business management, banking and finance, or equivalent fields.

Responsibilities

Compliance officers are responsible for:

  • Identifying, assessing, monitoring, and reporting all risks and compliance matters within an organization
  • Working closely with senior management to ensure that policies, practices, and procedures align with regulatory requirements and best practices
  • Creating awareness on risk management and compliance among employees
  • Enforcing implementation of internal policies and procedures
  • Capturing and measuring risk-taking activities

In addition, compliance officers are expected to:

  • Research market trends, emerging risks, and developments to enhance operations or mitigate threats to the business
  • Maintain regular communication with group functions, including audit and risk committees, on matters related to risk, compliance, and regulatory issues
  • Implement internal control systems
  • Monitor credit lending standards
  • Provide guidance on applicable laws, regulations, rules, and standards

Requirements

To be eligible for the compliance officer role, candidates must:

  • Hold a degree in Risk Management, Business Management, Banking and Finance or equivalent fields
  • Postgraduate qualifications in risk management or assurance-related fields are an added advantage
  • Have at least three years of experience in risk, compliance, or audit environments
  • Demonstrate extensive knowledge of all facets of risk management
  • Be meticulous, self-aware, and risk-orientated individuals

Conclusion

The compliance officer role is a vital position in Zimbabwe’s risk management landscape. The job requires individuals who are knowledgeable about regulatory requirements, best practices, and market trends. If you are interested in this role, be sure to submit your application, including a detailed CV, by 5 June 2024 to careers@afcholdings.co.zw.