Risk Manager at Alexander Forbes

Job description
Alexander Forbes is looking for a Risk Manager this position is responsible for executing the Hedge Fund risk policies and programmes and providing another Line of Defence in protecting the Qualified Investor or Retail Hedge Fund Manager and investor value.

Minimum Requirements:

• BSc / BCom degree in Risk Management preferred.
• Alternatively:
• BCom (Internal Auditing) (Hons) from University of Pretoria only.
• BCom (Accounting) towards CA(SA).
• Industry qualifications in collective investment schemes and hedge funds where available.
• FRM, CFA is not required but would be advantageous.
• Must have had formal training in hedge funds and collective investment schemes.
• MSOffice suite (Excel, Powerpoint, Word).
• Specialist experience in the hedge fund and collective investment scheme industries. Knowledge and experience in hedge funds is critical in this role.
• Minimum of 5 or more years’ experience in risk management (this excludes time spent in very junior roles). This includes experience in the Board Notice 52 Risk Management role.
• Experience in designing hedge fund risk management policies and programmes, in identifying, measuring, monitoring, assessing and reporting in the risk management role.

Key Purpose of this Job:

• The Risk Manager is responsible for executing the Hedge Fund risk policies and programmes and providing another Line of Defence in protecting the Qualified Investor or Retail Hedge Fund Manager and investor value. The Risk Manager is accountable for oversight of the risk management operations of the Hedge Fund Manager to include the integration of risk concepts into risk identification and mitigation activities and for co-ordinating the Manager’s Enterprise Risk Management approach.
• This role also supports compliance to Board Notice 52 of 2015 of the Collective Investment Schemes Control Act, No. 45 of 2002 which stipulates that: a Qualified Investor or Retail Hedge Fund Manager must establish a risk function separate from its investment management function and fund administration function, which function must:
• Determine the risk management policy of the hedge fund (which must be regularly reviewed and maintained);
• Conduct active risk measuring;
• Perform risk monitoring and reporting; and
• Ensure, on a daily basis, that the risk limits are complied with

Main Outputs and Responsibilities for This Position:

• Developing, maintaining and monitoring risk management policies.
• Developing, maintaining and monitoring risk measurement methodologies, processes and models.
• Conducting risk measurement and conducting daily monitoring against risk limits to ensure compliance.
• Risk reporting to governance forums (boards, committees and functions) and to the Regulator.
• Performance management in line with Group policies.

Leadership Competencies:

• Leading the organisation:
• Managing change.
• Solving problems and making decisions.
• Managing politics and influencing others.
• Enhancing business skills and knowledge.
• Understanding and navigating the organisation.
• Leading the self:
• Demonstrating ethics and integrity.
• Displaying drive and purpose.
• Exhibiting leadership stature.
• Increasing his/her capacity to learn.
• Self-management.
• Increasing self-awareness.
• Developing adaptability.
• Leading others:
• Communicating effectively.
• Valuing diversity and difference.
• Building and maintaining relationships.
• Decision making

Together with the Chief Risk Officer: Institutional:

• Ensure correct and effective escalation of non-compliance to risk limits in the investment policies, to risk management policies etc.
• Ongoing design and refinement of risk management methodologies, tools and reporting capabilities.
• Identification of early warning signals of breach/incidents etc and correct and effective escalation thereof.
• Regular due diligence of service providers relating to the Risk Management function (e.g. RiskCafe).

Accountability

• This function will be independent and have duties distinct from other executive functions.
• The job holder will be accountable in both his statutory BN52 role as well as hold accountability for proper execution of his job role in terms of his functional reporting line.