Risk & Compliance Manager

Mama Money; Cape Town; On-site; ZAR 600,000 - 800,000; Full time

Job summary

A growth stage fintech startup in Cape Town is seeking a Risk and Compliance Manager to strengthen its compliance environment. This role involves developing risk frameworks, ensuring regulatory compliance, and collaborating with teams to promote compliance culture. Candidates should have relevant postgraduate qualifications and 3–5+ years of experience in compliance or risk roles.

Benefits

Caring team environment

Opportunity for professional growth

Making a social impact

Qualifications

• 3–5+ years of experience in compliance, risk, legal, or governance roles.
• Hands-on experience designing compliance frameworks and control plans.
• Ability to communicate compliance risks clearly.

Responsibilities

• Lead the development of compliance and risk frameworks.
• Conduct ongoing due diligence for regulatory compliance.
• Collaborate with teams to foster a culture of compliance.

Skills

Compliance frameworks

Risk management

Analytical skills

Policy development

Regulatory compliance

Education

Postgraduate qualification in compliance, risk management, law, or finance

Tools

Compliance tools

GRC systems

Job description

Overview

Who we are:

Mama Money is a growth stage fintech startup working to help migrant workers in South Africa send money home. Since 2015 we have been providing reliable remittances, at a socially fair price, to those that need it most.

Mama HQ is in beautiful Cape Town, South Africa. We are 131 people strong (and counting) from 19 countries across Africa, Asia, the UK, and Europe. Our culture is built around the well-being of our team members and making a difference in our communities. “Just be lekker!” personifies our approach to work: we trust the wisdom of our talented and diverse team to do what is best for our customers and get the job done responsibly, without pedantic policies.

We’ve been around since 2015 and have earned a few accolades along the way, made some new friends,and expanded our reach. We\'ve had some great times and some tough times but we continue to focus on helping people rather than maximizing profit

As our Risk and Compliance Manager, your primary focus will be to strengthen Mama Money’s risk and compliance environment through robust due diligence, effective policy development, and the strategic management of internal controls. This role is critical in supporting the company’s growth by ensuring regulatory compliance, mitigating risk, and enabling the business to scale responsibly in a highly regulated industry.

Responsibilities

• Lead the development, implementation, and maintenance of Mama Money’s compliance and risk frameworks.
• Conduct ongoing due diligence to ensure compliance with applicable laws, regulations, and industry standards.
• Develop, review, and update internal policies and procedures to reflect regulatory changes and business needs.
• Manage and execute the control testing plan to assess the effectiveness of compliance controls.
• Report on control performance, risk findings, and compliance status to key stakeholders.
• Collaborate with cross-functional teams to embed a culture of compliance and accountability across the organization.
• Identify, investigate, and remediate potential compliance breaches or irregularities.
• Oversee compliance-related projects and support internal audits, regulatory inspections, and governance reviews.

What You Bring to the Role

• You have a relevant postgraduate qualification in compliance, risk management, law, finance, or a related field.
• You bring 3–5+ years of experience in compliance, risk, legal, or governance roles.
• You have hands-on experience designing and managing compliance frameworks, control testing plans, and regulatory reporting.
• You are confident in conducting due diligence, policy development, and risk assessments across diverse operational areas.
• You’re highly detail-oriented, with strong analytical, diagnostic, and problem-solving skills.
• You can communicate compliance risks and requirements clearly to both technical and non-technical stakeholders.
• You’re comfortable working independently or cross-functionally in a fast-paced, scaling business.
• You are proactive, accountable, and adaptable, with a strong sense of integrity and a commitment to continuous improvement.

In your first 90 days at Mama Money you will

• Gain a deep understanding of Mama Money’s existing compliance framework, risk register, control testing plan, and key regulatory obligations.
• Establish strong working relationships with key internal stakeholders across departments to drive a collaborative compliance culture.
• Review and refine current policies and procedures, identifying gaps and initiating updates where necessary.
• Begin executing the control testing plan, ensuring that control performance is properly documented and evidence is stored.
• Identify any immediate compliance risks or weaknesses and propose actionable mitigation plans in collaboration with relevant teams.

Desirable Qualifications and Experience

• LLB or equivalent legal qualification.
• C-Prac designation.
• Experience in fintech, cross-border payments, or the broader financial services industry.
• Familiarity with compliance requirements across multiple jurisdictions, particularly in emerging markets.
• Exposure to preparing for or responding to regulatory audits and inspections.
• Working knowledge of AML, KYC, data protection, and financial crime regulations.
• Proficiency with compliance or GRC (Governance, Risk, and Compliance) tools and systems.
• Experience leading or contributing to internal compliance training programs.

Why Mama?

At Mama Money, we’re not just a company, we’re a movement. Everything we do is driven by one purpose: to make life better for our customers and the communities we serve. Our customers are our heartbeat, and they inspire every step we take.

We’re all about making it easy. No red tape, no hassle. Just simple, seamless experiences that put people first, we’re here to make things easier, faster, and better for you.

We believe in giving it a go and then giving it another go if we have to! We're a team of doers, dreamers, and innovators who aren't afraid to break the mold. We take bold steps, experiment with fresh ideas, and never stop learning.

At Mama Money, we own it and we mean it. We take responsibility for our actions, our results, and how we show up every day. No passing the buck here. We approach every challenge with grit, passion, and determination.

Here’s the best part: Mama Money is a place that truly cares. We care about the trust our customers place in us. We care about our amazing team who bring their best every day. And we care about making an impact in the world, doing the right thing no matter what.

When you join Mama Money, you’re joining a community. We’re a passionate, down-to-earth crew that works hard and celebrates wins along the way. We take our work seriously, but we don’t forget to have fun while we do it.

So, if you’re ready to make a real difference, take on exciting challenges, and grow in a place where you’re valued and supported, then Mama Money is the place for you. Let’s make an impact together.

Mama’s values

1. Making it easier for our customers
2. Give it a go
3. Just own it