Job Description

MCB’s Compliance SBU is looking for Compliance Specialists for different clusters who will play an important role as a second line of defense within corporate governance for assessing, controlling and mitigating compliance and reputational risk arising from MCB’s operating environment and activities.

By joining the team, you will be responsible for ensuring that MCB conducts its business in full compliance with all applicable laws, rules, regulations and codes, as well as professional standards, accepted business practices, internal policies, standards and procedures.

We are on the lookout for:

Job vacancies: Compliance Specialist (Regulatory Liaison, Ethics & Business Conduct, Enterprise Wide Risk Assessment [EWRA], Complaints Management & FI Relations)

1. Compliance Specialist – Regulatory Liaison

Main Job Purpose:

• Assist the Group Head of Compliance and Manager - Regulatory Compliance in ensuring that MCB effectively complies with all relevant laws, regulations, rules, industry codes, standards of best practices, policies and procedures;
• Ensure that the activities of the Regulatory Liaison Cluster as set in the Compliance Plan and Programme are duly carried out and relevant reports issued as per set time frames;
• Assist, as may be required, in conducting gap analyses whenever specific new legislation/guidelines are issued, and make necessary recommendations to ensure compliance, where relevant, and effect follow-up on any required remedial plan;
• Provide necessary support, as required, in relation to on-site inspection/special examinations from internal/external auditors, regulatory and supervisory bodies, or quarterly regulatory reports/ad-hoc surveys;
• Keep abreast of developments in regulatory framework, financial and banking trends, industry best practices and standards towards continuous improvement initiatives;
• Contribute to the preparation and submission of quarterly reports of the Compliance SBU for Management and the Board;
• Assist the Manager - Regulatory Compliance in preparing and submitting annual Compliance Plans for the Regulatory Liaison Cluster to the Group Head of Compliance;
• Assist, as may be required, in coordinating the effective response to regulatory or sustainability surveys/reports within the required time frame and contribute, when solicited, in the preparation of Anti-Money Laundering (AML), Combatting the Financing of Terrorism (CFT), and Countering Proliferation Financing (CPF) training materials for the conduct of awareness sessions across MCB to raise awareness on any compliance related matter;
• Participate, when required, in the regular updates to the Enterprise Wide Risk Assessment exercise to allow for a prioritisation of resources to higher AML/CFT/PF risk areas identified to mitigate further these risks;
• Participate in any project/initiative as may be advised by the Manager – Regulatory Compliance and/or Group Head of Compliance.

2. Compliance Specialist – Ethics and Business Conduct

Main Job Purpose:

• Assist the Manager - Regulatory Compliance and Group Head of Compliance in ensuring that the organisation is fully compliant in terms of all relevant laws, codes, rules, regulations, procedures and standards of best working practice to minimise financial loss and protect the good name and reputation of MCB;
• Ensure that the activities of the Ethics & Business Conduct cluster as set in the Compliance Plan are duly carried out and relevant reports issued as per set time frames;
• Reinforce the risk management framework to ensure organisational and employee alignment and adherence to the integrity values, ethics, policies and obligations of the organization;
• Oversee monitoring and awareness on anti-bribery, corruption, market conduct, confidentiality, conflict of interests, third party compliance and code of ethics and business conduct, whistleblowing;
• Contribute to the preparation of training materials and conduct awareness sessions across MCB to raise awareness on ethics, business conduct, whistleblowing, as well as any compliance/ Anti-Money Laundering (AML), Combatting the Financing of Terrorism (CFT), and Countering Proliferation Financing (CPF) related matters;
• Assist, as may be required, in the investigation of matters related to anti-bribery, corruption, market conduct, confidentiality, conflict of interests, third party compliance and code of conduct;
• Contribute to the preparation and submission of quarterly reports of Compliance SBU for Management and the Board;
• Assist the Manager - Regulatory Compliance in preparing and submitting annual compliance plans for the Ethics & Business Conduct cluster to the Group Head of Compliance and provide assistance, as and when, required in the context of queries or inspections/examinations from internal/external auditors, regulatory and supervisory bodies;
• Assist, as may be required, in coordinating the effective response to regulatory or sustainability surveys/reports within the required time frame;
• Participate in the regular updates to the Enterprise Wide Risk Assessment exercise to allow for a prioritisation of resources to higher risk areas identified to mitigate further these risks and participate in any project/initiative as may be advised by the Manager – Regulatory Compliance and/or Group Head of Compliance.

3. Compliance Specialist – Enterprise Wide Risk Assessment (EWRA)

Main Job Purpose:

• Assist the Manager – Compliance Assurance, EWRA Team and Group Head of Compliance in ensuring that MCB adheres to all relevant laws, regulations, and internal policies while identifying and mitigating potential risks. This role involves conducting regular risk and control assessments in the field of Anti-Money Laundering (AML), Combatting the Financing of Terrorism (CFT), and Countering Proliferation Financing (CPF), coordinating the implementation of effective controls, prepares detailed reports on compliance status, and recommends improvements to strengthen risk management practices;
• Assist the Manager – Compliance Assurance, the EWRA Team and the Group Head of Compliance in ensuring that the organisation is fully compliant in terms of all relevant laws, codes, rules, regulations, procedures and standards of best working practice in order to minimise financial loss and protect the good name and reputation of MCB;
• Assist the Manager – Compliance Assurance and EWRA team in the preparation and submission of annual compliance plans for the EWRA team to the Group Head of Compliance for review and approval;
• Ensure that the activities of the cluster as set in the Compliance Plan are duly carried out and relevant reports issued as per set time frames and assist the Group Head of Compliance on the set-up of remedial plan(s) to mitigate any related residual risks, which obtain a high score following the risks and controls assessments;
• Assist the Group Head of Compliance in the identification, assessment and monitoring of risks, risk factors and controls to mitigate the ML/TF/PF risks;
• Support assigned areas on compliance related issues, including provision of advice and assistance in communication to external parties and provide guidance and support on the conduct of compliance risk assessments including the EWRA from an AML/CFT/CPF perspective;
• Assist the Manager – Compliance Assurance, EWRA team and Group Head of Compliance in responding to queries from supervisory bodies in Mauritius or from overseas as applicable;
• Contribute to the preparation and submission of quarterly reports of Compliance SBU for Management and the Board and provide technical support and guidance for the development and delivery of training programs in relation to MCB’s processes, procedures and controls, as well as AML/CFT/CPF;
• Assist in the review of procedures for inadequacies that may ultimately entail risks and ensure that changes to business practices and products are adequately covered by MCB’s procedures and controls;
• Participate in any project/initiative as may be advised by the Manager – Compliance Assurance and/or Group Head of Compliance.

4. Compliance Specialist – Complaints Management

Main Job Purpose:

• Assist the Complaints Manager, the Complaints Management Team, the Group Head of Compliance, and relevant stakeholders in ensuring that customer complaints across MCB Group are effectively managed in accordance with regulatory requirements, internal policies, and best practices while delivering fair, timely, and customer-centric outcomes;
• Oversee the end-to-end complaints management process within the Complaints Management System, ensuring accurate capture, proper categorization, timely assignment, and follow-up through to resolution and closure, while ensuring adherence to regulatory timelines through the issuance of acknowledgements and substantive responses within prescribed timeframes, supported by proactive Service Level Agreement (SLA) monitoring and escalation mechanisms;
• Coordinate and lead investigations with relevant stakeholders (including Fraud Prevention, Legal, Recovery, Data Protection Officer, and frontline Strategic Business Units), ensuring that all responses are fact-based, non-accusatory, and aligned with the Complaints Handling Policy and ISO 10002 principles;
• Draft and quality assure all customer communications, ensuring that correspondence is clear, context-appropriate, and compliant with data protection and confidentiality requirements, as well as preparing well-substantiated responses for escalated cases, including those addressed to regulators or senior management;
• Perform root cause analysis to identify recurring issues, recommend process and control improvements, and follow through on remediation actions to reduce repeat complaints and strengthen the control environment;
• Produce meaningful management information, including dashboards and periodic reports on complaints trends, turnaround times, severity, and regulatory referrals, and contribute to quarterly and annual reporting exercises;
• Conduct quality monitoring activities and voice of customer initiatives to assess customer satisfaction and support continuous service improvement, including providing constructive feedback to stakeholders;
• Support the maintenance and enhancement of complaints-related policies and processes in line with regulatory expectations (Bank of Mauritius, the Ombudsperson for Financial Services), contribute to staff training and awareness, and assist in audits, inspections, and regulatory engagements;
• Maintain high standards of data integrity within the Complaints Management System, ensuring accurate records, proper evidence trails, avoidance of duplication, and adherence to privacy and need-to-know access principles.

5. Compliance Specialist – FI Relations

Main Job Purpose:

• Assist the Group Head of Compliance in ensuring that the organisation effectively complies with all relevant laws, regulations and industry codes and standards of best practices and participate in any project as may be advised by the Group Head of Compliance and/or the Manager – Operational Compliance;
• Assist the Manager – Operational Compliance in the preparation and submission of annual compliance plans for the ‘FI Relations’ section to the Group Head of Compliance and as required regarding regulators in the context of on-site inspection/special examinations while contributing in the preparation and submission of quarterly reports of Compliance SBU for Management and the Board;
• Assist in the review of procedures for inadequacies that may ultimately entail risks and ensure that changes to business practices and products are adequately covered by MCB’s procedures and controls while also ensuring that the internal country risk methodology is up to date and according to industry standards by maintaining the risk rating of countries;
• Identify and assess key risk factors when considering the compliance risks relevant to Financial Institutions (including Correspondent Banks), Development Finance Institutions (DFIs) and/or any relevant stakeholder as may be identified from time to time;
• Keep abreast of developments in regulatory framework, financial and banking trends and industry best practices and standards towards continuous improvement initiatives, share knowledge/experience and coach team members in respect of the various tasks effected within the FI Relations cluster within the Compliance SBU;
• Contribute to the preparation of AML/CFT/PF training materials and conduct awareness sessions across MCB to raise awareness on any Compliance related matter;
• Ensure that all checklists, FAQs and Frequently Asked Documents (FADs) on Financial Institutions (including Correspondent Banks) and Development Finance Institutions (DFIs) are kept up to always date and enriched as appropriate;
• Ensure that name screening alerts are being handled and properly closed in a timely manner and oversee, daily, that screening of the United Nations Sanctions list has been effected and that reporting to Regulators and the National Sanctions Secretariat has been effected within prescribed delay;
• Ensure that questionnaires received from, queries received from and compliance issues raised by Financial Institutions (including Correspondent Banks), Development Finance Institutions (DFIs), Regulators and Auditors (Internal/External) are properly filled in and answered with all required information within set deadline to mitigate financial losses and reputation risks;
• Provide guidance to the team in the provision of advice, assessment on the onboarding of Financial Institutions (including Correspondent Banks), Development Finance Institutions (DFIs) and any other relevant stakeholders as may be identified from time to time, attending queries and ensuring that questionnaires are properly filled in.

To succeed, you will be required to demonstrate the following competencies:

• Anticipates complex challenges the organization may face in the future;
• Bounces back from setbacks or adversity;
• Strikes the right balance between accepting workable solutions and pushing for better alternatives;
• Consistently meets the objectives of assigned tasks;
• Applies new concepts and principles to address problems;
• Begins to build relationships across a variety of functions and areas;
• Builds a culture of collaboration and teamwork across organizational boundaries.
  

We are looking for a candidate who has a minimum of:

EITHER

• A Bachelor’s degree in Business Administration/Financial Services;
• 8 Years’ working experience in a financial or banking environment and/or 5 Years’ working experience in compliance, audit and/or legal sectors.

OR

• 11 Years’ working experience in a financial or banking environment and/or 8 Years’ working experience in compliance, audit and/or legal sectors.
  

You will also be required to demonstrate:

• Excellent analytical, writing, reporting and communication skills;
• Sound knowledge of financial or banking operations;
• Thorough knowledge of regulatory framework including, inter alia, Banking Act 2004, Bank of Mauritius and FSC Guidelines, Financial Services Act 2007, Prevention of Corruption Act 2002, Financial Intelligence & Anti Money Laundering Act 2002, Financial Intelligence and Anti-Money Laundering Regulations 2018, Borrowers' Protection Act 2007, Companies Act 2001, Data Protection Act 2017, The United Nations (Financial Prohibitions, Embargo & Travel Ban) Sanctions Act 2019 and The Financial Crimes Commission Act 2023;
• The incumbent should have a comprehensive knowledge of regulations that affect the business of MCB and will enable him/her to create awareness of the Compliance program among employees and Management.
  

Should this opportunity match your career aspirations, skills and competencies, click on ‘Apply’ to complete your online application.

Please ensure all required information is accurately entered in relevant sections. Any incomplete application will not be considered. Kindly attach a complete CV when applying.

Note that candidates under consideration for this position will be required to provide 2 professional references.

As part of the recruitment process, shortlisted candidate(s) will be required to provide a valid Certificate of Character of less than 3 months.

The deadline for submission of application is 15 June 2026

The Management reserves the right not to appoint anyone following this advert.