Risk Practitioner at Telesure Investment Holdings (TIH)

JOB PURPOSE

• Assist with embedding the Enterprise Risk Management endeavors within the TIH Group, monitor and report at the appropriate levels where the management of its mitigation can be affected and accounted for. Assist with risk management procedures such as control assessments, risk appetite monitoring and risk assessments across the Group. Provide support on Business Continuity across the Group. Ensure regulatory compliance with the GOI requirements from the Prudential Authority with respect to the Risk function. Assist with analysis of financial statements of other players in the long and short term insurance industry, locally and internationally, in order to draw meaningful conclusions and provide insights.

Responsibilities

Risk Management & Analysis

• Keep track of risk parameters, identify deviations and report them to more senior colleagues. Work within established risk management systems. Ensure Risk log is complete, up to date and reflects the losses, near misses as and external events. Ensure incident information is correct and control manage the risk appropriately. Monitor risk appetite and report on risk breaches. Enable Business Continuity Management coordination and reporting. Ensure the Internal Audit scope is appropriate and risk based. Assist with sharing incidents and risk registers with Internal audit to aid their review. Ensure internal audit findings are tracked and progress is monitored. Strengthen Business Continuity Management and Risk Management Awareness within TIH through awareness and training.

Information and Business Advice

• Resolve queries from internal or external customers or suppliers by providing information on complex processes and the related policies, refer to others where necessary for interpretation of policy. Communicate Risk reports to stakeholders which include business, the Risk Committee, other assurance providers and the Regulator. Provide input into the risk Management sections of the ORSA.

Internal Client Relationship Management

• Build effective working relationships within the internal client organisation and contribute to the management of the partnering relationship, deliver high-quality professional services within established routines or as part of an agreed project.

Data Collection & Analysis

• Collate and analyse data using pre-set tools, methods and formats. Perform regular control assessments, demonstrate an understanding of the controls as well as the underlying business and challenge controls to ensure that the controls are appropriate in relation to the risk.

Recommendations

• Provide information and clarification on existing procedures, processes and precedents. Manage the incident reporting process, specifically in terms of control reviews and future improvements.

Policy Development & Implementation

• Work within established procedures to achieve specified goals. Coordinate the development and ongoing maintenance of relevant business continuity policies and procedures. Ensure that policies and procedures comply with all regulatory requirements. Update relevant policies and align risk management practices to the regulatory requirements.

Compliance

• Identify shortcomings in compliance processes, systems and procedures, and develop ad hoc solutions to problems within an assigned unit or discipline. Ensure regulatory compliance within the risk division. Ensure that the Business Continuity Management regulatory requirements are met. Ensure risk and BCM practices are aligned to market best practice.

Personal Capability Building

• Develop own capabilities by participating in assessment and development planning activities as well as formal and informal training and coaching; gain or maintain external professional accreditation where relevant to improve performance and fulfill personal potential. Maintain an understanding of relevant technology, external regulation, and industry best practices through ongoing education, attending conferences, and reading specialist media.

BEHAVIORAL COMPETENCIES

Plans and Aligns

• Plans and prioritizes work to meet commitments aligned with organizational goals. For example, strengthens alignment and coordination between own work and others', providing well-sequenced activities and exact time frames. Foresees and resolves many potential bottlenecks and delays.

Communicates Effectively

• Develops and delivers multi-mode communications that convey a clear understanding of the unique needs of different audiences. For example, disseminates knowledge, insights, and updates in a polished, precise, and compelling manner. Demonstrates a deep interest in others' comments. Creates rich documents and reports.

Instills Trust

• Gains the confidence and trust of others through honesty, integrity, and authenticity. For example, demonstrates integrity, upholding professional codes of conduct. Instills trust by following through on agreements and commitments despite competing priorities and by being honest and straightforward.

Manages Complexity

• Makes sense of complex, high quantity, and sometimes contradictory information to effectively solve problems. For example, looks at complex issues from multiple angles; explores issues to uncover underlying issues and root causes; sees the main consequences and implications of different options.

Optimises Work Processes

• Knows the most effective and efficient processes to get things done, with a focus on continuous improvement. For example, uses metrics and benchmarks to monitor accuracy and quality. Takes steps to make methods productive and efficient. Promptly and effectively addresses process breakdowns.

Ensures Accountability

• Holds self and others accountable to meet commitments. For example, tracks performance and strives to remain effective, learning from both successes and failures. Readily takes on challenges or difficult tasks and has reputation for delivering on commitments.

Decision Quality

• Makes good and timely decisions that keep the organization moving forward. For example, knows when to act independently and when to escalate issues. Integrates various inputs, decision criteria, and trade-offs to make effective decisions. Typically makes good independent decisions.

Collaborates

• Builds partnerships and works collaboratively with others to meet shared objectives. For example, readily involves others to accomplish goals; stays in touch and shares information; discourages "us versus them" thinking; shows appreciation for others' ideas and input.

Being Resilient

• Rebounds from setbacks and adversity when facing difficult situations. For example, is calm and professional in difficult situations; continues to work toward objectives. Overcomes obstacles without becoming discouraged; draws lessons from failures. Recovers from setbacks and adversity.

Financial Acumen

• Interprets and applies key financial indicators to make better business decisions. For example, determines and estimates the main direct and indirect costs; makes generally appropriate decisions regarding expenditures. Studies financial and quantitative information; uses data to improve performance.

Skills

Risk Management

• Identify, assess, prioritise and manages risks in a production process.

Data Collection and analysis

• Analyse data trends for use in reports to help guide decision making.

Verbal Communication

• Use clear and effective verbal communications skills to express ideas, request actions and formulate plans or policies.

Numerical Skills

• Use an understand numerical concepts to perform mathematical operations such as report analysis.

Planning and Organising

• Plan, organise, prioritise and oversee activities to efficiently meet business objectives.

Computer Skills

• Use standard office equipment and standard software packages to support business processes. Enterprise risk management software ERMS, Microsoft Office

Action Planning

• Develop appropriate plans or perform necessary actions based on recommendations and requirements.

Policy and procedures

• Develop, monitor, interpret and understand policies and procedures, while making sure they match organisational strategies and objectives.

Presentation Skills

• Communicate with other people and speak in a clear, concise and compelling manner.

EDUCATION

General Education

• Grade 12/ SAQA Accredited Equivalent (Essential);
• BSc / BCom / BTech Degree (Essential);
• Degree in Risk Management/Financial Risk or similar Professional qualification in Risk Management FRM/PRMIA ORM/ CRISC (Advantageous)

Experience

General Experience

• 3-5 years' risk management experience in the financial services industry (Essential);
• Experience in Insurance industry (Advantageous)