Risk Analyst at Discovery Limited

Job Purpose

• The successful candidate will report to the Risk Manager. The candidate will be required to, but not limited to, support the Risk Manager with the implementation of a complete end to end risk management programme for the Discovery insurance entities in line with the Discovery Enterprise Risk Management  Policy and Framework and best practice.

Principal Accountabilities

Risk Strategy and Policies

• Assist in the review of risk policies, strategies and frameworks.
• Co-ordinate and manage the policy attestation and assurance requirements for risk policies; assist in preparing reporting on results to management and governance committees.

ERM Implementation

• Provide challenge on business unit risk assessments.
• Identify new risks and monitor existing risks through the review and analysis of risk incidents, key risk indicator breaches, assurance provider findings, outcome of special reviews etc.
• Review risk incidents, quality check and proactively monitor mitigating actions and trends.
• Conduct special, deep dive and thematic risk reviews as required by the Risk Manager.
• Keep abreast of changes in the environment, best practice and risks affecting the insurance entities and the Group.
• Scan the environment (external environment and business environment) to identify current and emerging risks.
• Assist the Risk Manager with conducting best practice research and recommending solutions to improve the effectiveness of risk management practices across the Group.
• Enhance risk management processes within GRM e.g. involvement in process/system changes, introducing new methodologies, and knowledge sharing.
• Work closely with Risk Analysts, Risk Managers and the Group’s assurance providers to ensure alignment of risk activities and sharing of knowledge.
• Undertake any other work as required by the Risk Manager from time to time.

Combined Assurance

Assist the Risk Manager with the following:

• Performing key process, strategic objectives, risks and controls identification and assessment.
• Coordinating the compilation of the annual BU plans and packs for Mini Combined Assurance Forums and submissions to the Group Combined Assurance Forum.
• Compiling the interim and final BU reports and sign-off of the BU attestation letters. Prepare the packs for the mini-Combined Assurance Forums.
• Collaborating with other assurance providers and monitor and report on progress against the Combined Assurance Plan; prepare interim reporting on progress against plans.

Reporting

• Contribute towards the enterprise risk management report, weekly incident report, and any other reports as required by the Risk Manager.
• Risk reports which effectively communicate identified risks, controls and recommendations.
• Assist the Risk Manager with the co-ordination and drafting of the annual ORSA reporting for licenced insurance entities, Discovery Life and Discovery Insure.
• Ad-hoc reporting requirements as requested by the Risk Manager.

Stakeholder management

• Work closely with business unit senior management, first line risk functions, Group assurance providers and members of the GRM team.

Personal Attributes

• Able to assess risks to inform a view in the form of a risk assessment for business.
• Able to interpret, rationalise and communicate the results of own work.
• Ability to communicate efficiently and effectively with business at all levels, both verbally and in writing.
• Strong report writing skills.
• A conceptual understanding of the concepts of long and/or short-term insurance business.
• Adaptability: maintains effectiveness when experiencing major changes in work tasks or the work environment; adjusting effectively to work within new work structures, processes, requirements or cultures.
• Delivery focused, practical and pragmatic where necessary. Sound judgement of material and immaterial issues in relation to own work. Delivers work required on time and to a high standard with minimal rework.
• Good team player, able to work with other team members to deliver the objectives of the team.
• Must be able to work autonomously, with limited supervision.
• Upholds ethics, values and demonstrates integrity.
• Must be able to critically evaluate business information.

Education, knowledge and experience

• Minimum Bachelor of Commerce Degree in Finance, Risk, or Accounting Science.
• 3+ years of experience in an enterprise risk environment in financial services, preferably within the insurance industry.
• Strong knowledge of enterprise-wide risks; high attention to detail; strong report-writing and reporting competencies.rge scale organisation ch

Discovery Compitencies

• Action Oriented
• Compassion
• Customer Focus
• Ethics and Values
• Interpersonal Savvy
• Learning on the Fly

Role Specific Competencies

• Works in a systematic, methodical and orderly manner.
• Strong attention to detail.
• Sets high standards for quality.
• Adapts to changing circumstances.
• Strong communication skills. The candidate should speak fluently, strong written skills ( including report writing ) that is structured in a logical manner.
• Ability to analyse, assess various data, break them into component parts, patterns and relationships.
• Demonstrate value-add on risk activities to business needs and objectives.
• Shows respect for the views and contributions of others.
• Strong knowledge of Microsoft suite.
• Knowledge of ERM processes.
• Relevant legislative knowledge.
• Demonstrates a willingness to share information.
• Handles criticism constrictively and learns from it.