Head: Risk Management

Role Purpose

The purpose is to lead and enhance the full suite of risk capabilities across the business by providing quality risk services and partnering with the business to ensure effective management of risks while supporting strategic objectives and to implement the Risk plan.

Requirements

• Relevant industry and technical knowledge
• Knowledge of risk management
• Quantitative, financial and accounting knowledge
• Knowledge of regulatory, legislative, governance risk and compliance landscape
• Understanding of Enterprise Risk Management (ERM), Own Risk and Solvency Assessment (ORSA) and Solvency Assessment and Management (SAM) practices and philosophy and relevant local legislation and regulations impacting risk management
• 5-7 years’ experience in a relevant industry
• 2-3 years’ experience in a managerial capacity within a Risk and/or Compliance function

Qualifications

• Degree in Risk Management or related field
• Registered with the Institute of Risk Management South Africa (RMSA) - advantageous

Duties & Responsibilities

• Build strong relationships with internal and external stakeholders at all levels as well as senior executives and the wider Risk, Legal and Compliance community to remove hurdles and obstacles and co-create an empowered and risk-aware culture
• Engage with relevant departmental heads to help them to grow their areas by giving them risk support and guidelines, ensuring they are operationally sound and managing compliance with regulations
• Engage with relevant internal stakeholders to advise them on the risk profile and to keep them in the loop of issues that need to be escalated
• Lead by example in contributing to a culture that builds rewarding relationships, facilitates feedback and provides exceptional client service
• Identify changing client needs and incorporate client feedback into improved business processes and systems
• Identify and drive ongoing efficiencies, e.g. through automation
• Apply specific technical and business insights in liaising with individual risk owners on a day-to-day basis to understand, manage and optimise end-to-end risk identification, assessment, monitoring, quantification, treatment and reporting processes
• Work closely with business to both flag and mitigate material risks
• Produce Risk reports highlighting areas of concern, opportunities and anything requiring further investigation
• Work closely with business to co-create plans and solutions and ensure proactive risk management is embedded in their processes
• Conduct regular interviews to assess and monitor risks
• Continuously monitor and evaluate the overall risk profile across the risk spectrum for relevant department(s) to provide a combined assurance view
• Ensure the audit plan speaks to the risks identified in the risk plan
• Participate in internal group forums to ensure local business is kept abreast of relevant Risk events and initiatives, take note of key action points and follow-through to ensure execution
• Identify internal and external Risk trends
• Access different databases, newsletters and newspapers and prioritise what is relevant to understanding the broad Risk environment
• Enhance relationships between own function and key internal and external stakeholders to improve reporting and wider understanding of the risk profile

CLIENT SERVICE

• Build and maintain relationships with clients and internal and external stakeholders
• Deliver on service level agreements made with clients and internal and external stakeholders in order to ensure that client expectations are managed
• Make recommendations to improve client service and fair treatment of clients within area of responsibility

PEOPLE

• Participate and contribute to a culture which builds rewarding relationships, facilitates feedback and provides exceptional client service
• Develop and maintain productive and collaborative working relationships with peers and stakeholders
• Positively influence and participate in change initiatives
• Continuously develop own expertise in terms of professional, industry and legislation knowledge
• Contribute to continuous innovation through the development, sharing and implementation of new ideas
• Take ownership for driving career development

FINANCE

• Identify solutions to enhance cost effectiveness and increase operational efficiency
• Manage financial and other company resources under your control with due respect
• Provide input into the risk identification processes and communicate recommendations in the appropriate forum.

Competencies