Job Purpose:
Strategic Purpose:
This role will coordinate the management of all risks across the Retail Segment Division to ensure that the operational and financial risks are understood and managed. Be the center of excellence as the Financial Controls Specialist and oversee best practice in:
Products pricing
Financial operational leakages and optimization
Non-Investments financial KRIs monitoring i.e. insurance, credit risks.
Revenue assurance
To drive an appropriate risk management culture, contribute to efficiency gains, minimize losses and ultimately deliver customer satisfaction.
Regulatory Purpose:
Ensure the Business Unit risks, including operational and financial risks are understood and managed within the risk appetite and in line with regulatory and supervisory requirements and expectations.
Key responsibilities
ENTERPRISE RISK MANAGEMENT
Responsible for the identification, assessment and management of all risks associated with both new and existing business within the business segment / regulated entity. This includes assisting the segment proactively determines which risks it will accept and retain, and hence actively manage in line with the Group Wide ERM Policy and Risk Appetite
Development of the risk management culture to support the implementation and effective operation of enterprise risk management.
Advise senior leadership on significant key risk exposures while maintaining a perspective that is both independent and sensitive to the commercial objectives of the enterprise.
Ensure there are risk registers maintained for Segment / Business Unit that comprises key potential risks facing the BU and that the risk register contains the corresponding risk indicators.
Continuously liaise with the various departments within the Segment / Business Unit to identify, quantify, mitigate and monitor operational and financial risk across the group.
Develop and implement risk responses to ensure that risk factors and events are addressed in a cost-effective manner and provide management with information to enable risk response decisions.
Monitor risk and communicate information to the relevant stakeholders to ensure the continued effectiveness of the enterprise’s risk management strategy.
Report on all risks on the group risk taxonomy and capture and report on risk events.
Develop and maintain risk management guidance materials, controls, training resources and an internal ERM manual for use at Board, BU / Segment and departmental level.
BUSINESS CONTINUITY
Develop a Business Continuity Policy, Strategy and BCP & DR Plans and ensure roll out across the entire Britam Group.
Ensure that key parameters such as RPO and RTO are articulated by the business and appropriate enabling BCM capabilities are in place for the Segment / BU.
Support and monitor testing of the Business Continuity Plans and provide appropriate status reports to the Board and Management.
Monitor and track BAU capabilities through liaison with BUs / countries.
GENERAL
Manage the operations, performance and development of the Risk team, ensuring all team members have clear objectives and targets.
Build the required risk management skills and ensure training of the board is carried out to provide a more effective management of risk and to keep up with increasingly complex regulatory requirements.
Represents Britam in industry associations on matters related to risk, compliance and ethics and in interactions with regulators.
System owner and functional administrator for enterprise risk management, compliance and business continuity information system and analysis software
Driving and embedding the appropriate risk culture across Britam
Driving of the risk technology and ensure the appropriate functioning of the risk committees
Knowledge, experience and qualifications required
Master’s degree in finance, business administration or a related field is preferred.
Bachelor’s Degree in Finance, Business Administration or a related field is required.
At least 10 years’ work experience and at least 3 years in a managerial role in a risk management department in a busy and high performing insurance company or group.
Accreditations in Risk Management would be an added advantage.
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