Chief Risk Officer Institutional at Alexander Forbes

Job description

Closing Date: 27 July 2017

Job Main Purpose:

Take responsibility in providing strategic leadership, directing, and overseeing all risk and compliance management activities for the organisation and to partner with stakeholders to provide trusted and valued risk management.

Responsible for:

• Advancing and contributing to strategic leadership;
• Challenging all risk and compliance activities to manage strategic risks better; and
• Partnering with stakeholders to enhance the Company’s trusted and valued reputation.

FORMAL QUALIFICATION & EXPERIENCE:

• An appropriate Bachelors Degree, Actuarial Science, Engineering, CA, Advanced Mathematics of Finance
• FRM /PRM, CFA, MBA is not required but would be advantageous
• Minimum of 7 or more years’ experience in the:
• (incl. risk measurement) across insurance risks, credit risk, market risk, liquidity risk, operational risk and business risk
• Stress testing
• Solvency Assessment and Management (SAM) or related risk-based capital regime.
• A conceptual understanding of:
• Investment management
• Balance sheet management
• Funds transfer pricing
• Capital allocation
• Asset liability management

RESPONSIBILITIES:

Primary Responsibilities

• Direct and oversee the strategic design and implementation of a risk management Target Operating Model (ToM) for the Business.
• Assist the board of directors and managing executives in carrying out their respective responsibilities, including by providing specialist analysis and performing risk reviews;
• Identify the risks the Company faces;
• Assess, aggregate, monitor and assist in managing and otherwise addressing identified risks effectively;
• Gain and maintain an aggregated view of the risk profile of the company at an enterprise-wide and individual business unit level;
• Evaluate the internal and external risk environment on an ongoing basis to identify and assess potential risks as early as possible;
• Conduct regular stress testing and scenario analyses, including in respect of outliers or matters with low probability but high potential impact;
• Investigate, research, understand and advise on prudential risks the company and subsidiaries may face.
• Investigate, research, understand and advise on market conduct risks the company and subsidiaries may face.
• Work with all the function Heads to ensure that they implement adequate business level controls to ensure that the principal risks applicable to their areas remain within the approved risk appetite.
• Ensure active follow up of risk issues identified during assessments by managers themselves, Management Assurance or Group Internal Audit. Escalate overdue items to the Business Exco.
• Operational Risk Management
• Fraud Risk Management,
• Specialised Operational Support and
• Expansion & Integration,
• Ensure alignment with best practices as well as Group requirements through assessment of current risk management activities within.
• Strategically re-design policies, resources (capacity, capability and reporting lines), risk management procedures and processes. For example, write and implement Integration & Expansion policies and procedures.
• Be the single entry and exit point for all risk management matters. Rebalance resources (people, technology) between the different areas to ensure maximum utilisation of existing resources.
• Represent the Business at Group Risk level
• Ensure that there are mechanisms in place to identify and understand all occurrences of risk in the principal risk categories including those resulting from the development of new products, processes or other business change. This includes supporting the definition and overseeing the development of Control Issues, Key Risk Indicators and Principle Risks within the Business.
• Ensure that the requirements of SAM are embedded within the company’s structure and successfully implemented
• Compilation of the ORSA report for submission to the relevant governance forums, the Board and the regulator on an annual basis or as required.
• Perform second line validation of any internal models used within the business.
• Perform qualitative and quantitative operational risk assessments across the company and subsidiaries
• Support Responsibilities
• Support the Pillar in the financial budgeting processes
• Support the Pillar in risk reporting and monitoring
• Oversight of risk transfer mechanisms (incl. re-insurance, hedging, collateral management, etc.)
• Development of the risk adjusted performance metrics

KEY COMPETENCIES:

• Team Orientated
• Initiative
• Problem Solving
• Innovation
• Attention to Detail/
• Analytical
• Prioritisation skills
• Change Prone
• Work under Pressure
• Verbal Skills
• Business Acumen
• Provide Direction & Purpose
• Financial Acumen
• Influential Ability
• Engaging the Workforce
• Management of Personnel
• Financial Analytics
• Strong sense of Company Values
• Negotiating Skills