The role reports to the CABS Head of Compliance and assists in maintaining a culture of compliance while ensuring that Financial Crime Compliance processes are implemented at CABS.
These include Anti-Money Laundering (AML) compliance management processes, Sanctions Screening, Customer Due Diligence (CDD), Know Your Customer (KYC) procedures and training.
Job Summary
- Employer: Old Mutual
- Job Type: Full-time
- Location: Harare, Zimbabwe
- Category: Compliance
- Closing Date: 2026-09-29
Key Responsibilities
- Assist the Head of Compliance in establishing and embedding a culture of compliance through AML compliance programmes and monitoring plans.
- Assist in formulating, reviewing and disseminating AML compliance policies, procedures and guidelines.
- Provide advice and recommendations to business management through EXCO on business relationships in line with the Board-approved AML Risk Appetite.
- Advise on correspondent banking relationships and associated AML risks.
- Support the timely review and update of the Board-approved Institutional Risk Assessment.
- Provide guidance to business units on AML compliance requirements and assist with implementation of approved AML compliance plans.
- Assist in maintaining an AML legislative log and preparing monthly and quarterly reports for Executive Management and Board Committees.
- Support business units in resolving AML compliance breaches and implementing agreed mitigation measures.
- Prepare periodic AML Compliance Monitoring Reports for Management and Board Committees.
- Assist in ensuring day-to-day AML compliance by assessing transaction reports and recommending further investigation or reporting to regulators and law enforcement agencies where necessary.
- Monitor compliance with approved AML policies and procedures and report findings as required.
- Assist in designing and implementing AML programmes covering sanctions screening, CDD, KYC and AML training.
- Monitor transactions and account activity, identify suspicious transactions, facilitate regulatory reporting and maintain prescribed records.
- Research, develop and implement enhanced compliance risk management and monitoring systems.
- Provide legislative analysis and support compliance awareness and training initiatives within the business.
Requirements
- A Law/Business Degree or a related Professional Qualification with Business Law as a module.
- At least two (2) years’ relevant experience in the Financial Services Sector .
- The role requires skills in: Compliance Software, Computer Literacy, Customs Compliance, Data Compilation, Engineering Standards, Evaluating Information, Learning and Development (L&D), Legal Practices, Management Reporting, Oral Communications, Professional Presentation, Regulatory Compliance Management
- Competencies: Action Oriented, Communicates Effectively, Decision Quality, Ensures Accountability, Instills Trust, Manages Complexity, Optimizes Work Processes, Organizational Savvy
How to Apply
REF Code: JR-84076
About the Company
Old Mutual Zimbabwe Limited is a leading integrated financial services group operating prominently within the Zimbabwean economy. The company offers a comprehensive range of solutions, including life assurance, wealth management, short-term insurance, and banking services through its well-known subsidiary, CABS. Dedicated to empowering individuals, businesses, and corporates, Old Mutual Zimbabwe plays a critical role in helping clients achieve their financial aspirations across the country. As a key part of the Old Mutual Limited pan-African group, it combines local insight with global best practices. The organisation is committed to fostering financial well-being and contributing to sustainable economic development throughout Zimbabwe.
Empowering Zimbabweans with integrated financial solutions.
Frequently Asked Questions
What qualifications or certifications do I need to become a Compliance Officer at Old Mutual in Zimbabwe?
A bachelor's degree in Law, Finance, Business Administration, or Risk Management is typically required. Professional certifications such as CISI (Chartered Institute for Securities & Investment), ICA (International Compliance Association), or local ZIMSEC equivalents strengthen your profile. Experience in financial services regulation is highly valued by insurers and asset managers in Zimbabwe.
What are the typical day-to-day responsibilities of a Compliance Officer in Zimbabwe's insurance sector?
You will monitor adherence to Insurance and Pensions Commission (IPEC) regulations, conduct internal risk assessments, and prepare regulatory reports. Daily tasks include reviewing policy documentation, training staff on compliance matters, and liaising with regulators during inspections. You will also investigate potential breaches and recommend corrective actions to senior management.
How does workplace culture and hierarchy work for Compliance Officers in Zimbabwean financial institutions?
Zimbabwean workplaces maintain respect for hierarchy, with clear reporting lines to the Chief Risk Officer or CEO. Compliance Officers are expected to demonstrate diplomacy when challenging senior staff, balancing assertiveness with cultural norms of deference. Punctuality, formal dress codes, and detailed documentation are standard expectations in the financial sector.
What career progression opportunities exist for Compliance Officers in Zimbabwe?
Progression typically moves from Compliance Officer to Senior Compliance Officer, then Head of Compliance or Chief Risk Officer. Specializing in areas like anti-money laundering (AML) or data protection can open doors with international organizations. Some professionals transition into consulting or regulatory roles with IPEC or the Reserve Bank of Zimbabwe.
What benefits should I expect as a Compliance Officer with a major employer like Old Mutual in Zimbabwe?
Benefits usually include medical aid coverage, pension contributions, and annual leave entitlements as prescribed by Zimbabwe's Labour Act. Larger financial institutions often provide group life cover, funeral benefits, and performance-based bonuses. Specific packages vary by employer and are typically negotiated during the hiring process.
How should I apply for Compliance roles in Zimbabwe, and what do employers prioritize in candidates?
Apply through company career portals, LinkedIn, or recruitment agencies specializing in financial services like CV People Africa or Impact Talent. Employers prioritize demonstrated knowledge of Zimbabwe's regulatory framework, attention to detail, and integrity. Strong references from previous supervisors and membership in professional bodies like the Institute of Chartered Secretaries and Administrators in Zimbabwe (ICSAZ) improve your competitiveness.
