The role of the Risk Manager is to maintain a robust risk management framework that is appropriate and effective for the size, business mix and complexity of the Company’s business, is in line with the Company’s policies and meets regulatory expectations. The Risk Manager reports to the Managing Director and works in close collaboration with the other control functions in the Company as well as with the ERM function in the Group HQ.
PRINCIPAL DUTIES AND RESPONSIBILITIES:
• Ongoing review and enhancement of the embedding of a robust and fit-for-purpose enterprise risk management framework, within the Company’s business processes
• The risk management oversight will focus predominantly on the Company’s operational activities and strategic initiatives. It covers all known and emerging risks (including Insurance, Market, Credit, Operational, Conduct and Strategic risk).
• Adequate support and assurance to the Board of Directors and the Managing Director in meeting their statutory responsibilities and, specifically, the management of the Company’s risk profile.
• Engage with the Regulators and Rating Agencies as and when required
• Responsible for the overall formulation, implementation, management and ongoing review of the risk management strategy and activities within the Company, which is aligned to the Company's overall business strategy and its business activities, including an annual risk review of relevant business plans
• Facilitate and drive the regular updates and monitoring of the risk appetite statement and the risk tolerances of the Company, fulfil the ORSA requirements, as well as maintain the Risk Registers (including Key Risk Indicators)
• Risk review of major, new initiatives, including new product, process and system developments, as well as outsourcing arrangements, investment management and capital management.
• Further development and implementation of effective Risk Reporting (both internal and external) aligned to the overall risk reporting activities in the Company
• Support the Company’s risk management governance structure and facilitate the monthly Risk Committee meetings and other risk forums
• Strengthen the risk culture in the Company to underpin the effectiveness of the overall risk management framework - this includes effective and ongoing risk awareness training, as well as an effective risk champion network at departmental levels.
• Maintain an effective Risk Event reporting program, as well as regular risk assessments (including RCSAs).
• Timely escalation of any risk matters within the Company and in the Group ERM function
• Financial and corporate governance to ensure cost efficiency including budget management
• Support a combined assurance framework
• CERA, Actuarial, CFA or Chartered Accountant or other qualification relevant for Enterprise Risk Management in the Insurance industry
• Over 8 years in Risk Management (either Insurance or Bank) or related field, across multiple risk types
• 3-5 years leadership experience, within an ERM environment preferably
• Insurance and Investment technical knowledge, including actuarial methodologies on pricing and reserving and general asset management
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