Chief Risk Officer at Guardrisk

Job Purpose

Partner with key stakeholders in order to provide trusted and valued governance, risk, legal, and compliance services that advances Guardrisk’s strategy. The chief risk officer (CRO) is the corporate executive tasked with assessing and mitigating significant competitive, regulatory and business risks.   

Responsibilities:

• Keep abreast of legislation and best practices within the governance, risk, legal and compliance fields and understand and influence business strategy and culture within South Africa, as well any other international jurisdictions from where Guardrisk has secondary business operations.
• Participation in, or attendance of certain governance and/or management forums in the capacity as the chairman, a member, or an attendee, dependent on the needs of the business.
• Establishment and maintenance of the governance frameworks for the business, specifically taking into account the governance requirements applicable to regulated insurance entities.
• Formulate and influence segment risk strategy and risk appetite, including appropriate measurement, monitoring and reporting tools, and contribute as part of the risk community of the parent group.
• Provide stakeholders within insights regarding risk drivers to increase management’s responsiveness and influence business decisions.
• Foster a risk aware culture where risk and compliance activities are integrated and embedded in business practises through ongoing communication and education.
• Establish the risk management process for the segment including identification, assessment, monitoring, management and reporting on key risks facing the business.
• Manage the identification and investigation of material risks that may have an impact on the ability of the segment to meet its objectives, in conjunction with the risk community.
• Direct and oversee the implementation of the risk management and compliance framework and solutions within the business, ensuring that the business remains within the approved risk appetite.
• Manage the ongoing assessment of the adequacy and efficiency of risk management framework, risk appetite statement, risk management strategy and controls at a segment level and drive the implementation of measures to enhance controls and risk management.
• Establish an aggregated view of the current and evolving risk profile for the business.
• Manage the reporting of the risk profile of the business and outcome of ORSA, including details of all material risk exposures facing the business and related mitigating actions.
• Report on the effectiveness of the implementation of the risk management within the business and identify improvements that are required. 
• Oversee the assessment, monitoring and reporting of the solvency position of the segment and ensure that the segment is appropriately capitalised.  
• Contribute to group wide risk governance structures, policies and frameworks to ensure continuous integration, collaboration and alignment of risk and compliance practices across the group.
• Oversee the appropriate stress testing and scenario analysis and forward looking projections are performed and the results are taken into account in strategy, business planning and monitoring.
• Develop governance, risk, legal and compliance governance structures within the business to facilitate the appropriate, accurate and timely flow of information.
• Develop strong partnerships across the business that facilitates the managing and mitigation of risks across the various areas of the business, resulting in an integrated risk management effort. Provide executive management within the businesses, both locally and internationally with advice on the governance, risk, legal and compliance implications of business activities, and provide consultative support to assess, prioritise and mitigate potential risks. 
• Build and maintain relationships with stakeholders (including regulators, clients, industry associations and counterparts within the group).
• Contribute to sustaining a competitive edge through external networking and benchmarking and representation on related forums.
• Define fair and innovative client service practices which build rewarding relationships, and allows team to provide exceptional client service.
• Engage with key internal and external stakeholders to identify changing client needs and make recommendations to align service offering with client needs
• Contribute to a client service excellence culture which builds enduring relationships and allows team to provide exceptional client service. 
• Drive efforts to improve client service and fair treatment of clients within areas of responsibility.
• Incorporate client feedback into the enhancement of daily business processes and management operating systems.
• Participate and contribute to a culture which builds rewarding relationships, facilitates feedback and provides exceptional client service. 
• Create a positive work climate and culture to energise employees, give meaning to work, minimise work disruption and maximise employee productivity.
• Demonstrate exemplary leadership behaviour, through personal involvement, commitment and dedication in support of organisational values.
• Select and recruit suitably qualified talent in line with Employment Equity principles and Guardrisk values. 
• Drive a culture that guides and directs best practice, fostering an environment of continuous learning, improvement and cohesiveness.
• Enable a learning and growth culture whereby information regarding successes, issues, trends and ideas are actively shared between team members.
• Execute effective workforce planning practices to ensure that staffing requirements are accurately forecasted.
• Identify employee growth and development needs and schedule interventions to enable ongoing development, training and personal growth.
• Effectively manage performance within the team in order to ensure business objectives are achieved.
• Encourage innovation, change agility and collaboration within the team. 
• Share and transfer product, process and systems knowledge to colleagues. 

Minimum Experience:

• 8-10 years’ experience in risk management, compliance, legal or governance within an insurance or financial services environment.
• 5-7 years business management or risk, compliance, legal or governance experience at a senior management level. 
• Knowledge of the financial services, particularly insurance industry and regulatory requirements.
• Must have strong legal, compliance and governance experience at a senior management level.

Minimum Qualifications:

• Post graduate degree/qualifications in Risk Management / Compliance / Legal or Governance
• Registered with Institute of Risk Management South Africa (IRMSA) (preferred)
• Registered with Compliance Institute Southern Africa (CISA) (preferred)
• Registered with Institute of Chartered Secretaries and Administrators (ICSA) (preferred)
• Admitted attorney, or advocate in South Africa (preferred)