Job Description

 

Head of Risk and Compliance

Role overview

This senior leadership role is pivotal in designing, leading, and embedding robust risk management strategies across the company, with a strong emphasis on Risk. The role ensures the organization’s compliance with regulatory frameworks while driving a proactive risk culture in alignment with the Insurance (Risk Management) Rules 2016, the Insurance Act, and the Financial Services Act.

 

Key Responsibilities:

Risk Management Leadership (Primary Focus):

Develop, implement, and maintain a comprehensive Risk Management Framework (RMF). Ensure effective identification, assessment, monitoring, and mitigation of all material risks (credit, operational, investment, liquidity, insurance, and outsourcing).

Risk Appetite & Strategy:

Collaborate with the Board to define and manage the company Insurance’s Risk Appetite Statement (RAS). Ensure that risk management strategies are aligned with the organization’s overall business goals and assess whether new business initiatives are consistent with the risk appetite.

Enterprise Risk Management (ERM):

Oversee the management of an integrated ERM framework, ensuring consistent application across business functions.

Operational Risk Oversight:

Lead initiatives related to operational risk, including business continuity, fraud prevention, IT/data security, and third-party risk management.

Risk Culture & Awareness:

Promote and embed a culture of proactive risk ownership and awareness throughout the organization.

Compliance Oversight:

Ensure adherence to regulatory obligations across all relevant acts and guidelines. Lead regulatory reporting and filling.

Regulatory Reporting:

Ensure compliance with relevant regulations. Provide regular reports to the Board and regulatory bodies, ensuring timely submission of the RMF and updates following significant corporate.

 

Key Requirements:

Experience: Minimum 5-10 years of experience in Risk and Compliance within the Insurance or Banking, Financial sectors with expertise in managing a wide range of risks including credit, operational, investment, liquidity, and insurance risks.

Leadership Skills: Strong leadership and strategic planning abilities, with a proven track record of defining and implementing Risk Management Strategies (RMS), and Compliance frameworks.

Qualifications:              

Degree in Finance, Risk Management, Actuarial Science, Law, or related field.

Professional qualification (ACCA , CIA, Risk Management or equivalent)

 

Proactive reserves the right: 

• To call only the shortlisted candidates for interview. 
• Not to make any appointment following this advertisement nor to assign any reason whatsoever for accepting or rejecting any candidate.