Job Openings Head of Risk & Compliance

About the job Head of Risk & Compliance

A. PROFILE

Role Title: Head of Risk & Compliance 
Reporting to: President, ExCom & Board
Division: Internal Audit
Department / Section: Internal Audit

B. CONTEXT

Purpose: To manage risks through the facilitation of risk identification, assessment, and the effective management of business risks related to mobile money services within U9 Mobile Fintech. This role aims to support the company strategic objective of enhancing sustainability by ensuring a robust and proactive risk management framework.
Context: This function operates within a highly dynamic telecommunications sector, where rapidly changing customer needs, technological evolution, and regulatory pressures present ongoing challenges. The role must address the constraints and demands imposed by national telecommunications laws and regulations while supporting business operations in a competitive and fast-paced environment. The effectiveness of risk management is critical to maintaining compliance, operational stability, and long-term business viability.

C. ROLE ACCOUNTABILITIES

  • Facilitates the identification, assessment and action planning for the management of business risks through mobile money transactions in U9 Mobile Fintech, in collaboration with departmental SPOCs
  • Monitors the implementation of actions plans for the management of risk in mobile money, and prepares reports highlighting progress and actions required to maintain plans on course
  • Prepares and disseminates communications aimed at raising awareness of risk management within mobile money units
  • Provides risk management support for mobile money initiatives implemented within U9 Mobile Fintech to enhance chances of success and sustainability
  • Fully oversee and support the implementation of the Anti-Money Laundering directives from regulators
  • Take accountability for the management and control of all risks affecting MM
  • Create awareness and provide the necessary education and training on risk management within Mobile Money
  • Take control of Corporate Governance, regulatory compliance and audit matters pertaining to Mobile Money
  • Develop and implement the appropriate operational risk and compliance and audit frameworks in U9 Mobile Fintech and align these to MM, thus ensuring that appropriate governance processes and structures such as KYC, fraud prevention procedures etc. are put in place
  • Consolidate all risk matters and submit consolidated risk reports
  • Ensure that appropriate risk assessments are done throughout the business on a continual basis
  • Ensure that risk issues identified are monitored, reported, escalated to relevant person/s and that corrective actions are taken with clear timelines
  • Manages and coordinates daily AML/CFT and Fraud monitoring, reporting and case administration framework, ensuring alert logs are handled optimally and escalating identified threats to regulatory and law enforcement agencies as per regulatory requirements
  • Interfaces with regulators through Legal & Regulatory unit to ensure all Compliance related requirements are adhered to and updating the risk management framework in line with existing and newly issued regulatory directives and legislation
  • Submits monthly, quarterly and yearly regulatory returns as stipulated by law
  • Interfaces with MFS customers and internal audit to manage fraud complaints and investigations
  • Ensures frequent and continuous customer sensitization on MFS services and fraud awareness to mitigate negative customer MFS experiences
  • Updates risk register and ensure closure of all outstanding items in stipulated timelines
  • Liaises with internal and external auditors to ensure MFS audit preparedness at all times

D. KEY PERFORMANCE INDICATORS

  • Percentage deadline accomplishment
  • Percentage completeness of risk register
  • Accuracy of documentation and reports
  • Level of risk awareness amongst risk Champions in MM
  • Percentage completion of departmental action plans
  • Performance of crisis response

E. WORKING RELATIONSHIPS & DECISION MAKING

Interacts with:
Internal: Internal BUs and senior management within Organization
External: CBM, Local Financial Authorities, Regulators

Decision Making

Takes major decisions for operational aspects of all issues relating to the MFS Risk & Compliance

F. EXPERIENCE AND QUALIFICATIONS

Minimum Experience & Essential Knowledge

  • Minimum 8-year work experience in risk & compliance management
  • Experience in Mobile Financial industry and working experience with local financial authorities such as Central Bank of Myanmar
  • Experience in Auditing
  • Solid knowledge of Applicable Financial Institution Laws and Regulations, Anti-Money Laundering (AML) Law
  • Hands-on experience of Risk Management
  • AML and associated risk types
  • Analysis and interpretation of data
  • AML/CFT legislation, guidelines and regulatory reporting requirements
  • Financial Analysis
  • Project Management including problem analysis and management, planning and monitoring, analytical thinking
  • Report writing and presentational skills
  • A thorough working knowledge of the regulatory environment, including applicable laws, regulations and regulatory guidance
  • Excellent communication skills, able to communicate effectively with staff and external parties including the regulator

Minimum Entry Qualifications

  • A Masters degree (MBA or related field) is preferred, especially with a focus on Risk, Compliance, or Financial Services.
  • Bachelors degree in Business Administration, Finance, Risk Management, Economics, or a related field.

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