Job Title: Manager – Risk and ComplianceBackground on East Africa Reinsurance:
East Africa Reinsurance Company is a leading reinsurance company based in Nairobi, Kenya.
The company was the first privately owned reinsurer to be established in Kenya and commenced operations on 1st January 1995.
The company was established through a joint initiative of leading insurance companies in Kenya and the International Finance Corporation (IFC), the private sector arm of the World Bank Group.
East Africa Re (EARe) is a company that understands the local business and at the same time is international in character with strong rating from Global Credit Rating (GCR) and AM Best.
The company’s Vision is ‘To be the risk partner of choice’ in the markets in which it transacts, and its mission is ‘To provide quality risk solutions, excellent service and enhanced value to all the stakeholders’.
Position Purpose:
To oversee and proactively drive the risk management function in the Company.
Identify, mitigate and manage risk for the Company through focusing on risk management in the enterprise wide risk framework, including inter alia financial and reinsurance risks.
The role will also focus on overseeing projects within the Company operations.
Position Summary
Position Title: Manager – Risk, Compliance and Projects
Position Profile: Enterprise Risk Management
Department: Risk & Compliance
Reporting To: Audit, Risk and Compliance Committee (With Dotted Line to CEO)
Resource Persons: All Staff
Duties and Responsibilities
Risk Identification, Assessment and Evaluation
Identify, assess and evaluate risk to enable the execution of the Risk Management strategy.
Contributing to the research, design and development of the risk management policy, strategy and framework on an on-going basis;
Collect information and review documentation to ensure that risk scenarios are identified and evaluated;
Identify legal, regulatory and contractual requirements and Company policies and standards related to information systems to determine their potential impact on the Company objectives;
Identify potential threats and vulnerabilities for business processes, associated data and supporting capabilities utilizing appropriate tools to assist in the evaluation of enterprise risk;
Create and maintain a risk register to assist in identifying risk ownership;
Assemble risk scenarios to estimate the likelihood and impact of significant events to the Company;
Develop a risk awareness program and conduct training to ensure that stakeholders understand risk and contribute to the risk management process and to promote a risk-awareness culture;
Validate risk appetite and tolerance with senior Management and key stakeholders to ensure alignment.Risk Response
Develop and implement risk responses to ensure that risk factors and events are addressed in a cost-effective manner and in line with Company objectives.
Identify and evaluate risk response options and provide management with information to enable risk response decisions;
Review risk responses with the relevant stakeholders for validation of efficiency, effectiveness and economy;
Apply risk criteria to assist in the development of the risk profile for management approval;
Assist in the development of risk response action plans to address risk factors identified in the Company risk profile.Risk Monitoring
Monitor risk and communicate information to the relevant stakeholders to ensure the continued effectiveness of the enterprise’s risk management strategy.
Collect and validate data that measure key risk indicators (KRIs) to monitor and communicate their status to relevant stakeholders;
Monitor and communicate KRIs and management activities to assist relevant stakeholders in their decision-making process;
Facilitate independent risk assessments and risk management process reviews to ensure they are performed efficiently and effectively;
Report on risk, including compliance, to initiate corrective action and meet Company and regulatory requirements.Regulatory Compliance
Ensuring that the Company complies with all statutory and Company regulations and monitors compliance risk.
Develop a Company-wide understanding of regulatory compliance;
Maintain Company manuals and ensuring they are up to date;
Conduct periodic internal reviews or audits to ensure that compliance procedures are followed;
Conduct or direct the internal investigation of compliance issues;
Identify compliance issues that require follow-up or investigation;
Disseminate written policies and procedures related to compliance activities;
File appropriate compliance reports with regulatory agencies;
Serve as a confidential point of contact for employees to communicate with management, seek clarification on issues or dilemmas, or report irregularities;
Maintain documentation of compliance activities, such as complaints received or investigation outcomes;
Be actively involved in preparation of Annual Financial Statements that are IFRS compliant;
Arrange and administer the Company’s own insurances.Projects
Accomplish project objectives by overseeing the planning, evaluating, implementing and tracking of project activities.
Management of projects undertaken by the Company.
Implementing EARe House development and maintenance plans.
Implementing disaster recovery arrangements/procedures.Profile
Experience
3 – 5 years in risk management and/or internal audit
Extensive exposure to corporate governance and risk management disciplines.
Familiar with Insurance industry will be an added advantage
IT ProficiencyEducation
Bachelor’s degree in a related field
Professional Accounting qualification i.e. CPA-K, ACCA or ACII will be an added advantageWhat are you?
A well-organized and self-driven person with an ability to maintain balance between the immediate and the long term.
Ability to interact at Senior levels and engage across business units and departments
Detail oriented, Analytical and strategic thinker
Project management and Process improvement skills
Pro-active and intuitive
Business/commercial acumen
Good judgment and decision making
Ethical behavior, honest and transparentWhat success looks like?
Within the first 100 days of your reporting, you will have;
Fine-tuned the current work plan and devised a methodology to ensure all operational risks are continuously mitigated
Developed and implemented a risk management framework
Conceptualized and developed a Risk Management Strategy that complies with IRA guidelines
What do we offer you? When working at EARe, you can expect to work with inspiring and creative colleagues. You will have ample opportunities for growth and career development as we value continuous learning.We offer you a challenging position in which you will be rewarded for excellent performance.
Apply now! Are you interested in this position and do you meet the minimum requirements?
Apply by sending an e-mail with your CV and a convincing cover letter tocareers@eastafricare.com.
The application deadline is 28th February, 2015.
Due to the high volume of applications received only shortlisted candidates will be contacted.
Do you have questions about this vacancy?
Visit our website at East Africa Reinsurance Risk and Compliance Manager Job in Kenya
Please do not hesitate to contact us by e-mail or telephone:careers@eastafricare.com or 020 4443588 / 0733 623737 / 0728 111041.