Career Opportunities at Stratostaff

JOB PURPOSE

• Our client, a reputable player in the insurance industry, seeks to recruit a Risk and Compliance Manager to oversee the company’s Enterprise Risk Management (ERM) and compliance functions. The position exits to manage the enterprise risk management (ERM) functions of the company for proper design, implementation and monitoring of the ERM Framework in order to ensure a balance between risk and return. 
• The incumbent will be required to partner with management in providing continual risk assessment, development of comprehensive policies, procedures, conduct compliance training, protocols, conduct internal reviews of processes in order to implement risk management strategies. The role holder will also oversee the compliance programs of the Insurance and ensure that the compliance risk is effectively managed.

Key Responsibilities:

• Planning, designing and implementing an overall risk management process for the organization
• Risk assessment, which involves analyzing risks as well as identifying, describing and estimating the risks affecting the business
• Establish systems, policies and procedures to identify, control, manage and measure enterprise-wide risks of the company
• Ensure that enterprise-wide risk management policies, controls and procedures, are effectively implemented, disseminated and complied with      across the business.
• Improve risk management readiness and create an organizational culture that places high priority on effective risk management and adherence to sound operating controls at all levels through communication, training programs and risk-based performance measurements
• Develop Insurance wide Risk monitoring tools, risk register and rating of risks, Assist in institutionalization of self-assessments in line with IRA regulations and best practice.
• Risk reporting in an appropriate way for different audiences, for example, to the board of directors so they understand the most significant risks, to business heads to ensure they are aware of risks relevant to their parts of the business and to individuals to understand their accountability for individual risks
• Advise the Board of Directors, Senior Management and all staff of emerging compliance issues and consults and guides the insurance in the establishment of controls to mitigate risks.
• Oversee the monitoring of compliance to policies and procedures and ensure corrective action is taken where there are deviations to minimize exposure.
• Oversee the monitoring of compliance to policies, rules and procedures
• Ensure the development of a culture where risk is managed effectively and consistently across the business
• Ongoing monitoring and review of the management of risk across the insurance business operations and ensure that the policy framework and its implementation remain relevant and adds value to the insurance as a whole.
• Evaluate the effectiveness and efficiency of the Risk management tools across the organization and ensure corrective action is taken.
• Contact person between the company and IRA in regard to all competence matters.

Requirements

QUALIFICATIONS AND EXPERIENCE

• Bachelor of Commerce in Insurance or Business-related degree
• At least five (5) years’ experience in the insurance sector with at least 2 years at a managerial level
• A minimum of five (5) years’ experience in risk or audit responsibilities preferably in the financial services industry.
• Professional qualification in insurance or accounting plus relevant qualifications in risk management
• Membership in a professional body.
• Training experience required: Risk Management

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JOB PURPOSE

Our client, a reputable player in the insurance industry, seeks an Underwriting Manager to provide support and guidance to the underwriting team by overseeing all aspects of credit approval, credit administration, loan underwriting, and closing for all loan products and portfolio administration and policy.

NATURE AND SCOPE

Reporting to the Board Risk Committee with a dotted reporting line to the CEO & Principal Officer, the Risk and Compliance Manager is responsible for improving risk management readiness by creating an organizational culture that places high priority on effective risk management and adherence to sound operating controls. The Manager is also responsible for risk training and risk-based performance measurements and evaluations.

Key Responsibilities:

• Developing, implementing and interpreting departmental policies, procedures and endorsements.
• Overseeing and assigning tasks to underwriters, underwriting assistants and interns working within the department.
• Developing policies and methodologies that accesses the company’s financial risk
• Analyzing statistical in order to determine eligible and non- eligible individuals for insurance coverage by assessing clients’ background information.
• Providing support to the underwriting assistants on complex issues upon request.
• Training and mentoring underwriting professionals on the departmental policies and standard operating procedures with the aim of achieving quality performance.
• Conducting quality control checks by reviewing policy decisions and insurance proposals from time to time.
• Analyzing cumulative data about underwriting performance and current risk levels then preparing reports
• Reviewing insurance premiums based on informed judgment and competitor pricing
• Organizing meetings with specialists to help determine risk assessment in unique circumstances
• Allocate underwriting authority to staff, establishing their ability to accept risks, determine pricing and coverages and place reinsurance
• Develop and execute strategic initiatives that support profit, growth, retention and customer service objectives
• Assess agency performance and recommend the appointment or cancellation of agents
• Manage the underwriting team while identifying individual training needs

Requirements

QUALIFICATIONS AND EXPERIENCE

• Holder of a Bachelor’s degree in Mathematics, Statistics, Business Administration, Insurance or any other related field from a recognized university.
• Have at least five (5) years’ relevant working experience as an Underwriter
• A post Graduate professional qualification in Insurance (ACII / AIIK)
• Should have a sound understanding of reinsurance markets and mechanisms.
• Should demonstrate highest standards of personal conduct, professional performance and business ethics.
• Highly developed analytical and reporting skills with excellent communication and presentation skills.
• Possess leadership skill and ability to work with diverse teams
• Attention to detail