Regional Head - Risk at Jubilee Insurance

Job Ref. No. JLIL189

Role Purpose

The Regional Head-Risk will be responsible for overseeing and managing the risk management function across the group. The role holder will be involved in developing and implementing risk management strategies, policies, and procedures to identify, assess, and mitigate risks in alignment with the company's risk appetite and regulatory requirements.

Main Responsibilities
Strategy

• Collaborate with internal stakeholders, such as legal, underwriting, claims and internal audit, to ensure effective risk management integration across functions.
• Foster relationships with external regulatory bodies, industry associations, and other relevant stakeholders within the region to stay informed about regulatory expectations and industry trends.
• Submit the Incidence management yearly work plan for approval by the Board's Committee and regularly update the committee, the management of the subsidiary companies, and the Group Head of Actuarial, Risk, Compliance and Sustainability on the execution of the plan.

Operational

• Develop and execute a regional risk management strategy that aligns with the overall corporate risk management framework and objectives.
• Identify, assess, and prioritize risks specific to the region, including underwriting, operational, financial, and regulatory risks. Conduct risk assessments and implement appropriate risk mitigation measures.
• Develop and enforce risk management policies, procedures, and guidelines to ensure consistency and adherence across the region. Communicate policies effectively to relevant stakeholders.
• Establish mechanisms to monitor and report risk exposures, trends, and emerging risks within the region.
• Collaborate with internal stakeholders, such as legal, risk management, and internal audit, to address compliance issues and ensure a coordinated approach to risk management.
• Ensure compliance with applicable laws, regulations, and internal policies related to risk management.
• Collaborate with compliance teams to address regulatory issues and implement necessary controls.
• Develop and implement an incident management framework to effectively respond to and manage risk events and incidents.
• Provide support and guidance to regional risk committees and working groups.
• Manage the training program of all compliance related activities within Group, ensuring year on year compliance.

Corporate Governance

• Stay updated on industry trends, emerging risks, and best practices in risk management.
• Adherence to the laws and regulations of Kenya, the policies and regulations within the insurance industry and all internal company policies and procedures.
• Ensuring compliance with applicable statutory and regulatory requirements and establishing mitigation measures against emerging business risks.
• Provide assurance regarding the effectiveness of the Risk Management, Control, and Governance Processes.

Leadership & Culture

• Building the team capabilities and ensuring adequate succession planning within the department. Conduct training sessions and workshops to educate the risk team.
• Fostering a corporate culture that promotes ethical practices and good corporate citizenship while maintaining a conducive work environment.
• Collaborate with cross-functional teams to develop initiatives that promote a positive and inclusive company culture.
• Provide the much-needed transformational leadership to meet and surpass the expectations of stakeholders.

Key Competencies

• In-depth knowledge of relevant laws, regulations, and compliance requirements within the insurance industry.
• Strong understanding of risk management best practices and industry standards specific to insurance.
• Analytical and problem-solving skills to identify and address incidence.
• Excellent communication and interpersonal skills to effectively engage with stakeholders at all levels.
• Leadership abilities to guide and influence others in matters of risk management.
• Strong ethical values and integrity to promote a culture of compliance and ethical behavior.
• Attention to detail and accuracy in risk assessments, reporting, and documentation.
• Ability to adapt to changing regulatory environments and evolving business needs.

Qualifications

• Bachelor’s degree in risk management, Law, Finance, Business Administration or any other related course.
• Professional certifications in compliance, risk management, or insurance (e.g., Certified Compliance Professional, Certified Risk Manager, Chartered Insurance Professional).
• Master’s Degree will be an added advantage.

Relevant Experience

• Minimum of 10 years of experience in compliance, risk management, legal, or related roles within the insurance industry.
• Significant experience in the insurance industry and knowledge of insurance standards.
• Proven experience in a leadership or managerial role. Minimum of 4 years.