Risk Officer at Old Mutual Nigeria

Old Mutual Nigeria consists of a Life Assurance and General Insurance business and provides a wide spectrum of insurance solutions tailored to meet unique individual and corporate clients’ circumstances.

We are recruiting to fill the position below:

Job Title: Risk Officer

Ref No: JR-38020
Location: Lagos
Job Type: Full-time

Job Description

  • This role is individually accountable for assisting the BU in establishing and embedding a culture of proactive risk based decision making as well as ensuring that risk processes are implemented at the BU level.
  • The individual is accountable for achieving results through their efforts over periods of up to 3 months.

Descriptor:

  • Challenges risk management information collated by and received from business units.
  • Ensures risk processes (risk assessment, identification, management, reporting, and optimization) are occurring at the BU level.
  • Provides knowledge of systems/supporting guidance, and procedures and assists the business in the implementation of risk issues.
  • Provides oversight for risk management activities ensuring Group Risk Policy statements are met.
  • Identifies applicable legislation and analyses the impact thereof on the BU and applies this to BU processes and procedures.
  • Ensures compliance by the BU with applicable legislation by means of the implementation of compliance risk management
  • and monitoring plans.
  • Ensures monthly risk control logs are updated and follows up with various Line Managers.
  • Performs quarterly compliance audits on processes.
  • Performs monthly quality assurance reviews on audit issues and identified control breaks.
  • Compiles monthly reports (standing reports) on issues identified and reports on actions taken to rectify the problem.
  • Reports risk events and compliance breaches to management on a monthly/quarterly basis.
  • Facilitates and in appropriate circumstances partakes in, remedial actions developed by the BU to help eliminate risk issues and non-compliance with legislation and regulation.

Key Result Areas
Personal Effectiveness:

  • Accountable for service delivery through own efforts.
  • Individually accountable for managing own time, tasks, and output quality for periods of up to 3 months.
  • Makes increased contributions by broadening individual skills.
  • Collaborates effectively with others to achieve personal goals.
  • Accepts and lives the company values.

Risk Management:

  • Challenges risk management information received from reporting entities
  • Ensures risk processes (risk assessment, identification, management, reporting, and optimization are occurring at the BU level.
  • Provides knowledge of systems/supporting guidance, and procedures and assists the business in the implementation of risk issues.
  • Provides oversight for risk management activities, ensuring Group Risk Policy statements are met.
  • Provides support in carrying out risk-related responsibilities.

Compliance:

  • Identifies applicable legislation and analyses the impact thereof on the BU and applies this to BU processes and procedures.
  • Ensures compliance by the BU with applicable legislation by means of the implementation of compliance risk management and monitoring plans.
  • Performs quarterly compliance audits on processes.
  • Reports compliance breaches on a monthly/quarterly basis.
  • Facilitates and in appropriate circumstances partakes in, remedial actions developed by the BU to help eliminate non-compliance with legislation and regulation.

Reporting:

  • Ensures monthly risk control logs and risk events are updated and follows up with various Line Managers.
  • Compiles monthly reports (standing reports) on issues identified and reports on actions taken to rectify the problem.

Qualification & Experience

  • Bachelor’s Degree.
  • 3 years relevant experience.

Deadline: 13th April, 2023

Method of Application
Interested and qualified candidates should:
Click here to apply online


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