Risk Associate job at Britam

Britam

Risk Associate job Post

Location: Jobs in Uganda 2022 - 2023

Work Hours: Full-time, 08 hours per day

Salary: UGX

No. of vacancies: 01

Deadline: 15 February 2022

Hiring Organization: Britam

Job Details:

Job purpose:
The role holder will be responsible for the implementation of risk frameworks, risk identification, assessment, and mitigation strategies. Ensuring these aspects are embedded into the operations of the firm in consultation with the Internation Business Risk Manager and the Chief Executive Officer.

Key responsibilities
Risk identification, mitigation, monitoring
• Co-ordinate and improve risk management within departments
• Review all Internal & External Audit reports to extract relevant risk & control information for use in reporting and remediation.
• Monitor and act on any Key Risk Indicators (KRIs) adverse trends that arise
• Monitor resolution of all associated Internal Audit recommendations post-audit issues
• Assess compliance with policies and procedures in the departmental units, with emphasis on controls
• Coordinate the formulation of scenarios to be tested at least annually
• Coordinate the recording of the risk incidents and carry out the root cause analysis
• Regularly collate the operational loss data and maintain the database
Business processes and policies reviews
• Working with Business units within the firm to establish, maintain and continuously improve risk management capabilities.
• Coordinating Risk & Control Self-Assessment (RCSA) framework across the various Business and Support units.
Company and Business
• Ensure sufficient follow through on management actions to mitigate risks identified
• Ensure Continuous risk identification and assessment program through timely completion of RCSA & KRI returns
• Champion documentation of inter-departmental SLAs during quality assurance reviews.
• Review key outsourcing arrangements for the firm in line with regulator outsourcing guidelines.
Business Continuity Management (BCM)
• Work with Risk manager to implement BCM framework for the firm
• Review of programs and tools to ensure they are updated.
• Ensure BCP testing is carried out as per schedule for both the business and support unit.
• Train staff on BCM in conjunction with the International Business Risk Manager
Management Committees
• Prepare the report pack for the Management Risk Committee(MRC) meeting
• Coordinate the secretarial work for the MRC meetings
• Support the Risk Manager to prepare any risk reports to any other Management Committee.

Key Performance Measures: Refer to the annual Personal Score Card (PSC) for further details.

Working Relationships:
Internal Relationships;
• Required to liaise and work closely with all Britam staff
External Relationships;
• Statutory bodies
• External Consultants/Auditors

Knowledge, experience and qualifications required
• University graduate with possession of a risk-related or actuarial professional qualification.
• Possess a professional diploma in risk management or actuarial science.
• 3 years working experience in the insurance and financial services environment, with sound exposure to insurance Operations, Regulatory and Compliance requirements.
• Knowledge of Insurance and Business Operations: Well-round knowledge of the insurance operations and processes and excellent knowledge of Insurance policies and procedures.
• Risk Management: Ability to anticipate and mitigate risk by developing appropriate Risk Management Policies for the Firm.
• Compliance Standards and Legislations: Excellent knowledge of International Accounting and Standards, and Legislations.
• Compliance and Regulatory Framework: Good understanding of relevant regulatory requirements
• Conceptual and Analytical Skills: Ability to quickly grasp and understand systems and keen to detail.

Personal attributes
• Personal Ethics: Must be honest and of high integrity.
• Negotiation Skills: Must be a good negotiator, particularly in changing behaviour and work practices but always Win/Win.
• Planning and organizing: Ability to establish priorities, plan, coordinate, and monitor own work plan.
• Communication and Interpersonal Skills: well developed oral and report-writing skills, ability to work in a team set-up

Essential Competencies
• Learning and Researching: Rapidly learns new tasks and commits information to memory quickly; demonstrates an immediate understanding of newly presented information; gathers comprehensive information to support decision making at management level; learns from successes and failures and seeks colleague and customer feedback.
• Working with People: Shows respect for the views and contributions of other team members; shows empathy; listens, supports and cares for others; consults others and shares information and expertise with them; builds team spirit and reconciles conflict; adapts to the team and fits in well.
• Applying Expertise and Technology: Applies specialist and technical expertise; uses technology to achieve work objectives; develops job knowledge and expertise (theoretical and practical) through continual professional development; demonstrates an understanding of different organisational departments and functions.
• Delivering Results and Meeting Customer Expectations: Focuses on customer needs and satisfaction; exhibits high standards for quality and quantity; monitors and maintains own quality and productivity; works in a systematic, methodical and orderly way; consistently achieves projects goals.
• Following Instructions and Procedures: Follows procedures and policies; keeps to schedules; arrives punctually for work and meetings; demonstrates commitment to the organisation; complies with legal obligations and safety requirements of the role.
• Adhering to Principles and Values: Upholds ethics and values; demonstrates integrity; accepts diversity; display individual responsibility towards the community and the environment; models the organisational values during every day interactions.