Head of Risk - Sandton
11 days ago
Head of Risk
Identifying, assessing, managing, monitoring and reporting of risk as well as the management of the enterprise risk management framework. Key stakeholders include actuarial, finance and all of the business functional areas.
• Drafting and preparing strategic risk appetite and risk management tools to scope direction for business
• Ensure the enterprise risk management framework is effectively implemented within the business.
• Develop and maintain risk management documentation such as the risk appetite statement, risk taxonomy, risk policies etc.
• Facilitate reviews of the risk appetite statement to ensure it remains appropriate and recommend changes where this may be required.
• Develop and monitoring of appropriate key risk indicators together with associated tolerances limits and related reporting.
• Undertake periodic risk assessments working with the various risk owners and ensure that the risk registers are kept up to date.
• Manage the own risk and solvency assessment (ORSA) process including coordinating all related inputs, outputs and assessments.
• Provide risk management guidance and training to staff and ensure the necessary documents are made available.
• Critical review of existing and/or development of new risk reports to ensure that they are suitable and useful to aid in decision making.
• Preparation, submission and/or presentation of risk reports to the various stakeholders in forums such as Manco, Opsco, Exco, Audit and risk committee and other governance related forums within the business.
• Establishing and maintaining combined assurance model.
• Identifying current/actual and emerging risks through evaluating internal and external risk environment on a continuous basis
• Aggregating, monitoring and advising management on the effective management and mitigation of identified risks.
• Develop and monitoring on risk appetite, risk registers, loss data, combined assurance, key risk indicators and emerging risks.
• Incorporate client feedback into the enhancement of daily business processes and management operating systems
• Control the budget for area, including the authorisation of expenditures and implementation of financial regulations.
• Manage high risk and problematic financial issues in area of accountability and contribute to the development of policy.
• Identify solutions to enhance cost effectiveness and increase operational efficiency.
• Implement and manage financial risk methodologies, techniques and systems and use to monitor and report on financial activities.
• Honours Degree (specialising in finance, audit and risk management)
• Relevant membership Qualification
• Registration with the Institute of Risk Management South Africa (preferable)
• Knowledge of any of the well-known ERM frameworks (i.e. COSO, King) and Prudential standards
• Solid understanding of Solvency Assessment & Management (SAM)
• At least 8-10 years’ experience risk management experience in the financial short-term insurance and long-term insurance m16.6m