Risk & Compliance Manager
Deadline of this Job:
31 August 2022
Date Posted: Thursday, August 25, 2022 , Base Salary: Not Disclosed
Risk & Compliance Manager
Policy and Strategy
• To design and oversee the Company-wide risk management strategy, aligning all risk management and associated internal control activities to support the achievement of business objectives.
• To facilitate the integration of risk management policy and strategy into all department’s strategies and activities.
• To design and implement an overall risk management process for the organization, which includes an analysis of the financial impact on the company when the risks occur.
• To ensure appropriate information on risk and internal controls is provided to the stakeholders of the Company in a timely manner to minimize/eliminate the adverse effects.
• To oversee procurement of various services and products within the Company to ensure compliance and alignment with Company policies and procedures.
• To establish and quantify the Company’s Risk Appetite and advise the Management on the same.
• To maintain awareness of trends and developments in risk management that may be significant to SLUL and the Insurance Industry in general.
• To minimize both long-term and day-to-day operational risks through assessments, evaluations, and training.
Risk Identification and Assessment
• Ensure that risk identification and assessment activities are performed across the Company on a regular basis, Standard Operating Procedures (SOPs) are reviewed and challenged where necessary, and appropriate escalation procedures are in place.
• Prepare risk management and insurance budgets prior to the occurrence of risks.
• To maintain the independent challenge on risk and assurance issues through management of the risk function.
• To monitor and report to the Board as well as the Audit and Risk Committee on the total level of the Company’s risk exposure.
Reporting and Stakeholder Engagement
• Ensure effective and timely reporting of risk management information to the Management team and Board.
• To represent our risk management positions, strategies, and experiences at internal and external forums to maintain a high reputation.
• Conducting policy and compliance audits, which will include liaising with internal and external auditors.
• Maintaining records of insurance policies and claims.
• To be responsible for the set-up, management, and coordination of the risk department.
• To be responsible for the coordination of outsourced specialist audits.
• To report to the CEO, the Board, and the Audit and Risk Committee on risk management performance.
• Review any new major contracts or internal business proposals.
• To improve/inculcate a risk awareness culture across the organization
QUALIFICATION EXPERIENCE AND SKILLS
• Undergraduate degree in any business-related field with Professional qualifications in Actuarial Science, Professional Risk Manager or Financial Risk Management.
• An MBA will be an added advantage.
• 3-6 years of professional experience in a similar role.
• Excellent written and verbal communication skills
• Strong organizational skills for planning work and continuously monitoring progress towards goals.
• Commercial awareness, High level of integrity, and ethical standards
• High attention to detail
• Analytical Skills
Education Requirement: No Requirements
Job Experience: No Requirements
Work Hours: 8
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