Risk and Compliance Manager
Posted 5 months ago
Role: Operational and Managerial
Salary Range: Ksh 200,000 - 220,000
Our client, in the insurance industry, is a pioneering and dynamic insurance company offering ethical and innovative products in risk management and mutual financial security services. They are looking to fill the position of Risk and Compliance Manager.
The Risk and Compliance Manager is responsible for:
- Assessment of risk positions and risk exposures and steps being taken to manage them.
- Assessment of changes in the Insurer risk profile.
- Assessment of risk events and identification of appropriate remedial actions.
- Assessment of the key compliance risks the insurance faces and steps being taken to address them.
- Assessment of how various parts of the insurer are performing against compliance standards and goals.
- Compliance issues involving Management/key positions with the insurer and action being taken.
- Material compliance violations and fines involving any other person and actions taken.
DUTIES AND RESPONSIBILITIES
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
All applicants are advised to adhere to application guidelines for consideration. Only shortlisted candidates will be contacted.
NB: Flexi Personnel does not charge candidates for job placement.