Job Purpose:
To develop and monitor the implementation of the Enterprise-Wide Risk Management Framework in the company’s insurance and its subsidiaries to comply with regulatory requirements and ensure alignment to international best practices.
Job Responsibilities:
- Contribute to a culture of transformation by participating in the company’s culture building initiatives, business strategy, and CSI.
- Foster transformation of the workplace and support the company’s insurance in the achievement of the BEE initiatives and transformation targets, improve work processes, productivity and reduce costs.
- Achieve continuous improvement goals and create an environment where managers and teams are encouraged to challenge the status quo by initiating constructive debates about work practices and areas of improvement.
- Develop risk plans that enable the implementation of the business strategy.
- Ensure compliance with regulations and prevent losses.
- Ensure alignment of area business processes and systems are functioning by identifying and documenting risks to the Group Risk Frameworks.
- Keep business updated on a regular basis and analyze information generated from the risk exercises.
- Track the performance of the Risk Management team.
- Ensure the business fully complies with risk standards.
- Mitigate risks by providing the business with relevant information, guidance, and advice.
- Evaluate and analyze area audit findings and management improvement comments.
- Meet financial objectives and ensure improvements on identified risks.
- Build and maintain stakeholder relationships through engagement to obtain an understanding of their risk practices to contract, manage, and meet expectations.
- Develop and maintain partnerships with stakeholders to facilitate the accomplishment of risk and business objectives.
- Manage own career progression through input and feedback from management to improve personal capability and to stay abreast of developments in the field of expertise.
- Identify opportunities to influence the improvement or enhancement of business processes or methodologies by researching and recommending improvement initiatives and effective ways to operate and add value to the company.
Qualifications:
- Advanced Diplomas/National 1st Degrees
- BCom (Hons) (Financial Management, Accounting, Auditing, Information Systems or Risk Management)
- Member of the Institute of Risk Management of South Africa and/or Compliance Institute of South Africa
- Institute of Risk Managers
Experience:
- Must have 5 – 8 years’ experience in Risk Management within Financial Services / Banking and Insurance (Preference) environment.
Technical / Professional Knowledge:
- Business Acumen
- Business writing
- Cluster specific operations
- Communication Strategies
- Data analysis
- Financial markets
- Governance, Risk and Controls
- Industry trends
- Principles of project management
- Relevant regulatory knowledge
- Relevant software and systems knowledge
- Research methodology
- Decision-making process
- Funding, Liquidity and capital management frameworks, Policies and methodologies
Behavioural Competencies:
- Communication
- Continuous Learning
- Decision Making
- Facilitating Change
- Influencing
- Technical/Professional Knowledge and Skills
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