The Risk and Compliance Officer will be responsible for assisting in the formulation, review, update, and implementation of the Company’s Risk Management and Compliance Framework, including policies, SOPs, and authority matrices. The role involves identifying, assessing, and recommending mitigation measures for risks affecting the company, monitoring Key Risk Indicators (KRIs), and ensuring organizational compliance with applicable laws and Insurance Regulatory Authority (IRA) directives.
Key Responsibilities
Risk Management & Governance
- Assist in the formulation, review, and implementation of the Company’s Risk Management and Compliance Framework.
- Identify, assess, escalate, and recommend mitigation measures for company risks.
- Develop and monitor Key Risk Indicators (KRIs) for reporting.
- Monitor management action plans to ensure effective risk mitigation.
- Conduct continuous risk reviews on operations and strategic plan implementation.
- Prepare quarterly risk assessment reports for the Board Risk Management Committee (BRMC).
- Advise management on emerging risks based on regulatory and industry developments.
Compliance & Regulatory Oversight
- Monitor compliance with laws, regulations, and regulatory directives.
- Review regulatory communications and ensure requirements are addressed.
- Ensure timely filing of statutory, regulatory, and annual returns, including IRA submissions.
- Conduct organization-wide compliance reviews.
Business Continuity & Reporting
- Participate in creating, testing, and reviewing Business Continuity Plans (BCP).
- Coordinate annual BCP testing and prepare outcome reports.
- Compile board papers and BRMC documentation.
- Prepare daily intelligence reports for the Executive Committee.
Operational Risk Oversight
- Underwriting: Monitor production timelines, review un-renewed policies, track lost business trends, and ensure compliance in onboarding and documentation.
- Finance: Review daily tasks including bank reconciliations, cash position reports, and premium production reports; ensure timely KRA tax filings and asset tagging.
- Claims: Review the Claims Intimation Register and post-loss survey reports; monitor settlement turnaround times.
- ICT: Monitor system downtime, assess root causes, and evaluate data integrity and ICT risk exposure.
Requirements
- Bachelor’s degree in Commerce (B.Com), Actuarial Science, Statistics, or any other finance-related discipline.
- At least 2-3 years’ experience preferably in risk and compliance related functions.
- Professional qualifications such as IRM, CRISC, FRM, CPAK will be an added advantage.
- Conversant with Insurance Regulatory Authority (IRA) Risk Management Framework.
- Strong computer and IT skills.
- Good communication (written and verbal) skills with developed presentation capabilities.
- Strong analytical, report, and minutes writing skills.
- People management capabilities.
How to Apply
Interested and qualified candidates should apply online via the Eagle HR Consultants application portal.
Apply Online Here
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