Mrs.Khumbo Mtalika
Director, Capital Markets and Microfinance Supervision
Khumbo Mtalika (Mrs) is an accomplished Financial Institution Examiner with over 25 years’ experience in banking and Anti-Money Laundering/Combating Financial Terrorism (AML/CFT) supervision and regulation. She was appointed to the position of Director, Financial Sector Regulation in July 2020. She oversees the effective regulation of the financial sector through development and implementation of legal and regulatory frameworks, licensing or registration of financial institutions; enforcement of laws and regulations, market conduct supervision; promotion of financial literacy, capability and inclusion; and handling of financial consumer complaints
Mrs Mtalika was previously the Chief Examiner, Anti-Money Laundering/Combating Financial Terrorism from September 2010 to July 2020 fostering compliance by all financial institutions to AML/CFT requirements through off-site and on-site examinations to ensure integrity of the financial system. She successfully led the process to adopt risk based supervision (RBS) approach to money laundering/terrorist financing (ML/TF) risk examination. She also championed implementation of ML/TF off-site risk assessment tool, development of AML/CFT off-site returns, drafting of the AML/CFT guidance notes, coordination of the review of the Money Laundering, Proceeds of Serious Crime and Terrorist Financing Act, and coordination of the financial sector Malawi Mutual Evaluation assessment by the Eastern and Southern African Anti-Money Laundering Group (ESAAMLG) in 2018. She is a trained AML/CFT Mutual Evaluation Assessor and participated in the ESAAMLG Second Round Mutual Evaluation Assessment of Zambia from November 2017 to July 2018 as a Financial Sector Assessor.
She was Chief Examiner, On-Site Division from December 2007 to April 2009 enforcing market discipline through on-site examinations in order to ensure that the banking sector is safe and sound. Later, from May 2009 to August 2010 she assumed the role of Chief Examiner Banks responsible for carrying out financial analysis through offsite surveillance, onsite examinations, premises inspections and enforcing market discipline in order to ensure that banks follow prudent banking practices at all times. She was Chairperson of the Risk Based Supervision Implementation Project from May 2009 to August 2010. From June 2006 to December 2007, she was Principal Examiner, Off-Site Surveillance Division for commercial banks responsible for evaluating the financial soundness condition of banks and that prudent banking practices are adhered to at all times.
Mrs Mtalika is a holder of a Master of Science in Accounting and Finance from the University of Birmingham Business School in the United Kingdom and a Bachelor of Accountancy (BACC) degree from The Polytechnic, University of Malawi.