Responsible for assisting in the implementation and management of enterprise risk including IT Risk.
Requirements
- BCom Accounting/Bachelor of Accounting/ Risk Management or similar relevant degree
- At Least 3- 5 work experience in similar role
- At Least 3- 5 years relevant Insurance Industry experience
- Understanding of Enterprise Risk Management (ERM), Risk Management Principles, Own Risk and Solvency Assessment (ORSA) and Solvency Assessment and Management (SAM) practices and philosophy and relevant local legislation and regulations impacting risk management.
- Comprehensive risk management skills encompassing the regulatory, risk governance, risk management and IT risk management landscape.
- Relevant industry and technical skills and experience
Key Role Challenges
- Being a trusted advisor and valued partner rather than policeman or whistle-blower (not consulted as a last resort)
- Getting the balance right between supporting, influencing and challenging, as well as balancing short and long-term needs
- Managing the balance between being firm, assertive and objective but at the same time responsive and open-minded
- Being seen as a trusted advisor and valued partner embedded within rather than external to business
- Staying abreast of regulatory, market and industry developments and trends
- Managing change with stakeholders who do not want to engage
- Managing the balance between being firm, assertive and objective but at the same time responsive and open-minded
- Lead by example in contributing to a culture that builds rewarding relationships, facilitates feedback and provides exceptional client service
- Build strong relationships with internal and external stakeholders at all levels and the wider Risk, Legal and Compliance community to remove hurdles and obstacles and co-create an empowered and risk-aware culture
- Engage with relevant internal stakeholders to advise them on the risk profile and to keep them in the loop of issues that need to be escalated
- Conduct the risk management component of due diligence reviews of new clients as well as periodic reviews and monitoring of existing clients.
- Ensure appropriate governance, risk management and internal controls are in place internally and with clients.
- Maintain, update, monitor and report on the risk profile of each client
- Identify changing client needs and incorporate client feedback into improved business processes and systems
- Participate in internal group forums to ensure local business is kept abreast of relevant Risk events and initiatives, take note of key action points and follow-through to ensure execution
- Apply specific technical and business insights in liaising with individual risk owners on a day-to-day basis to understand, manage and optimise end-to-end risk identification, assessment, monitoring, quantification, treatment and reporting processes
- Work closely with business to co-create plans and solutions and ensure proactive risk management is embedded in their processes
- Work closely with business and Risk Managers to flag and mitigate material risks across all risk types
- Produce Risk reports highlighting areas of concern, opportunities and anything requiring further investigation
- Conduct regular interviews to assess and monitor risks
- Continuously monitor and evaluate the overall risk profile across the risk spectrum for relevant department(s) to provide a combined assurance view
- Ensure the audit plan speaks to the risks identified in the risk plan
- Identify internal and external Risk trends
- Act in an ethical, transparent and morally defensible manner, including highlighting unethical practices
- Identify financial and business risks and escalate accordingly
- Identify opportunities to enhance efficiencies and reduce wasteful expenditure
- Set the pace and tone for the Risk function and ensure everyone is focused on the right priorities
- Create a positive work climate and culture to energise team members, minimise work disruption and maximise team members productivity
- Action/ behaviour are consistent with Guardrisks values
- Continuously drive own professional development and engage constructively with performance feedback
- Handle stress in ways that do not negatively impact others
- Continually share, debate and communicate learnings
- Work collaboratively with others to achieve shared goals, including flagging and debating issues constructively
- Positively influence and manage change
