Risk and Compliance Officer at Eagle HR Consultants

Requirements

• Bachelor’s degree in Commerce (B.Com), Actuarial Science, Statistics, or any other finance-related discipline.
• At least 2-3 years’ experience preferably in risk and compliance related functions.
• Professional qualifications such as IRM, CRISC, FRM, CPAK will be an added advantage
• Conversant with Insurance Regulatory Authority (IRA) Risk Management Framework
• Strong computer skills

Personal Attributes

• Good communication (written and verbal) skills, including well developed presentation skills.
• Strong analytical skills
• Report and minutes writing skills
• People management
• IT skills

Key Responsibilities

• Risk Management & Governance
• Assist in the formulation, review, update, and implementation of the Company’s Risk Management and Compliance Framework, including policies, SOPs, and authority matrices.
• Identify, assess, escalate, and recommend mitigation measures for risks affecting the company.
• Develop and monitor Key Risk Indicators (KRIs) for effective risk exposure monitoring and reporting.
• Monitor implementation of management action plans to ensure effective risk mitigation.
• Conduct continuous risk reviews on operations and the implementation of the company’s strategic plan.
• Prepare quarterly risk identification and assessment reports for submission to the Board Risk Management Committee (BRMC) and the Board of Directors.
• Keep abreast of regulatory, macroeconomic, and industry developments and advice management on emerging risks.
• Compliance & Regulatory Oversight
• Monitor the organization’s compliance with applicable laws, regulations, and regulatory directives.
• Review regulatory communications and ensure all regulatory requirements affecting the company are adequately addressed.
• Ensure timely filing of statutory, regulatory, and annual returns, including submissions to the Insurance Regulatory Authority (IRA).
• Conduct organization-wide compliance reviews to ensure adherence to legal and regulatory requirements.
• Business Continuity & Reporting
• Participate in the creation, testing, and review of the Company’s Business Continuity Plans (BCP).
• Coordinate annual BCP testing and prepare reports on test outcomes and recommendations.
• Compile and submit board papers, board notes, and BRMC documentation.
• Prepare and submit daily intelligence reports to the Executive Committee and relevant departments.
• Risk Oversight – Underwriting
• Monitor daily underwriting production to ensure policies are processed within set timelines.
• Review un-renewed policies, identify causes of non-renewal, and follow up with underwriting teams.
• Track lost business trends and prepare monthly analytical reports.
• Monitor new business onboarding to ensure timely processing and compliance.
• Review incomplete policies and collaborate with underwriting teams to resolve delays.
• Review cover notes to ensure corresponding policies are debited before expiry.
• Monitor survey requirements for fire and burglary policies and ensure timely completion.
• Review motor policies to confirm supporting documentation and compliance with approval requirements.
• Monitor refunds to ensure processing within the stipulated turnaround time and report exceptions.
• Risk Oversight – Finance
• Review daily finance tasks in line with the finance checklist, including bank reconciliations, cash position reports, premium production reports, and register updates.
• Review monthly finance tasks to ensure timely statutory filings, tax payments, client statements, and financial reporting.
• Ensure weekly taxes are filed and paid to KRA.
• Ensure all company assets are properly tagged and reconciled with the asset register.
• Risk Oversight – Claims
• Review the Claims Intimation Register to ensure accurate and timely logging of claims.
• Review post-loss survey reports to confirm adequacy, accuracy, and compliance with policy terms.
• Monitor claims settlement turnaround times to ensure compliance with internal standards and regulatory requirements.
• Risk Oversight – ICT
• Monitor system downtime incidents, assess root causes, and evaluate operational impact.
• Review trends in data errors and system bugs to assess ICT risk exposure and data integrity.
• Other Duties
• Follow up on bank empanelment processes and escalate delays where necessary.
• Perform any other duties as may be assigned by management from time to time.