Risk and Compliance Officer at Old Mutual Kenya

Job Description

The purpose of this job is to support the Enterprise Risk Management and Compliance function through the implementation of the Risk Management and Compliance Framework within the standards defined by the Group, including the identification, measurement, monitoring and reporting of risk and enforcing compliance with policies, processes, procedures and controls.

PRINCIPAL ACCOUNTABILITIES.

• Monitor implementation of the Group’s risk policies, procedures, standards, systems and guidelines and identify gaps to be closed
• In conjunction with the Group Head of Financial Risk, conduct stress tests, sensitivity analysis and simulation to update the Board and EXCO on the risks that the company is facing and how to mitigate them
• Monitor full compliance against established risk standards/benchmarks and regulatory requirements, including transaction monitoring, tracking risk & compliance matrix and review of reports sent to the regulator
• Identify potential areas of risk and control gaps; provide guidance on how to mitigate the risks identified; conduct follow-up to ensure corrective actions are implemented
• Provide the necessary awareness among management and staff through guidance, communications, and training to ensure compliance with the company’s framework and methodologies, including internal policies, procedures, standards and guidelines
• Provide regular reporting as required on risk and compliance, including Dashboards and Reports for Financial, Operational risk, compliance and  AML/CFT reports, quarterly Board reports, and Risk Management Reports MANCO
• Adequacy of personal competence through continuous professional and technical education to effectively perform risk and compliance tasks
• Conduct identification and assessment of the risk gaps for each functional area /department of the company and recommend controls to reduce residual risk.
• Conduct independent monitoring and oversight of the risk appetite limits.
• In conjunction with the Group Head of Financial Risk, conduct gap analysis and stress tests for market, credit risk and liquidity risk to update the Board and EXCO on the risks that the company is running and how to mitigate them.
• Prepare periodic reports to regularly update the financial and operational risk exposures and circulate them to the various Heads of Department for action.
•  Review of Risk and Control Self-Assessment (RCSA), incidence reports, key risk indicators (KRIs), loss data collection, and conduct other risk analytics.
• Assist in the development of the company Risk management standards reviews of all policies, policy guidelines and procedures that provide direction on processes within the company.
• Assist with conducting compliance risk assessments with a focus on AML/CFT and assess AML/CFT risk from new products, delivery channels, and services and conduct annual AML/CFT risk assessment. 

Qualifications:

• Bachelor’s degree in actuarial science, finance, business administration or related field
• Professional certifications or qualifications in Actuarial Science or Risk Management required.
• A minimum of 5+ years in mid-level risk management experience in the insurance sector.

Education

BA, Bachelor of Commerce (BCom), Bachelor of Laws (LLB)