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Job Description

JOB SUMMARY

To provide support to the Head of Risk in the development, implementation and maintenance of an effective and integrated enterprise risk management framework.

KEY TASKS AND RESPONSIBILITIES

KEY MEASURABLE GOALS

• Contribute to the overall risk management strategy of maintaining / reducing the level of risk as business expands.
• Assist in developing, implementing and reviewing of Risk Management Policies and processes in line with the needs of the business and regulatory requirements.
• Design and maintain appropriate risk identification and risk management tools for the business.
• Ensuring the bank has in place, effective reporting systems for risks and risk exposures to relevant stakeholders.
• Assess risks that the Bank is exposed to and advise on mitigation
• Assist in building an effective and efficient risk management team for the Bank
• Enhance risk awareness among staff and assist in creation of a risk culture within the organization
• Assist and advice the Bank in setting its risk appetite.

KEY RESPONSIBILITIES

• Design and maintain risk registers for relevant business units.
• Monitor and assess indicators for the Bank’s key risks and report on adverse movements in these risks.
• Prepare and submit MI reports on key risks and risk exposure to the Management, Board Risk Management Committee, Old Mutual and other stakeholders. This shall be done through the Head of Risk and Compliance
• Assist in developing and proposing risk exposure limits for the Bank
• Advise the Business on developments in the external environment that may expose the Bank to risks
• Raise the visibility of compliance issues, internally across all stake holders within the organization.
• Support the roll out and implementation of Old Mutual policies and Group Operating Manual
• Carry out risk management training to staff.
• Liaising with line managers, internal & external Audit, Examination functions & the relevant departments to identify significant risks and control lapses or weaknesses and highlighting the same to relevant stakeholders.
• Advising risk owners on appropriate controls and risk management strategies and measures.
• Assessing potential risks on new products and offerings under development and advice the product owners.
• Communicating and reinforcing the AML-CTF compliance culture established by the board
• Implementing and enforcing the board-approved AML, KYC & CFT policy.
• Any other duties assigned by the Head of Risk and Compliance from time to time

ANTI-MONEY LAUNDERING (AML) EXPECTATION

The incumbent will be responsible for ensuring adherence to, implementation of, and adoption of Compliance, Anti-Money Laundering (AML), and Sanctions-related policies, procedures, and process requirements within Old Mutual and its subsidiaries. This includes execution of customer due diligence processes, ensuring compliance with Know-Your-Customer (KYC) standards, conducting ongoing and enhanced due diligence, and maintaining data quality. Additionally, the role involves identifying and monitoring potential AML, Sanctions, or Compliance breaches and unusual activities, and escalating these concerns to the Risk and Compliance Office for further action.

SKILLS, KNOWLEDGE & COMPETENCIES

Knowledge and skills

• Knowledgeable in Enterprise Risk Management and banking regulations

Personal Attributes

• Good decision-making skills.
• Assertiveness
• Good communication skills
• Attention to detail
• Keen follow up

QUALIFICATIONS & EXPERIENCE

• Bachelor’s degree in business or finance
• CPA or ACCA, Risk Management Qualifications. (Desirable)
• At least 5 years’ experience in banking / financial institutions, 3 of which should be in risk management.

Ensures that general insurance claims are handled expeditiously and in a professional manner thereby meeting the customer expectations. Manages the claims function with a team of claims assessors and negotiators. Develops the claims policy, procedures, and practices. Evaluates risks with claims, coverage complexity, and those in excess of field approval limits. Provides counsel regarding claims evaluation and coverage.

Responsibilities

Insurance Claims Evaluation

Investigate the circumstances of complex, high-value claims and the nature and extent of clients' losses. Review and evaluate information gathered using own expertise, and examine additional evidence provided by specialist investigators or subject-matter experts to determine the extent of liability. Negotiate settlement of insured losses in line with delegated authority.

Insurance Claims Administration

Review and analyze very complex, high-value insurance claims in line with the organization's claims policies, procedures, and customer service standards. Initiate specialist investigations and engage loss adjusters and/or subject-matter experts where appropriate. Authorize claims within delegated authority and refer complex or unresolved issues to line manager.

Fraud/Financial Crime Management

Develop and deliver specialized fraud prevention and monitoring activities for an area of operations, in line with the organization's fraud management policies and procedures, to enable the prevention of fraud and enable the initiation of loss mitigations and fraud investigations.

Fraud/Financial Crime Investigation

Investigate cases of suspected fraud or financial crime. Identify lines of inquiry, and gather and retain information and physical or electronic evidence to support criminal investigation and/or legal action, engaging specialist investigators or subject-matter experts where necessary. Review the evidence gathered and recommend appropriate action to the organization.

Fraud/Financial Crime-Management Systems Development

Research and identify fraud trends and emerging risks, contribute to the drafting of fraud prevention policies and procedures, and identify opportunities for new and/or improved anti-fraud systems functionalities to support the development of fraud/financial crime prevention strategies, policies, procedures, and monitoring systems.

Leadership and Direction

Communicate the local action plan; explain how this relates to the function's strategy and action plan and to the broader organization's mission and vision; motivate people to achieve local business goals.

Work Scheduling and Allocation

Develop short- or medium-term work schedules in order to achieve planned commitments. Approve overtime or use additional resources as needed.

Financial Policies, Guidelines, and Protocols

Develop and deliver financial guidelines and protocols to ensure the company complies with regulations and good financial practice.

Performance Management

Develop and propose own performance objectives; take appropriate actions to ensure achievement of agreed objectives, using the organization's performance management systems to improve personal performance. Or manage and report on team performance; set appropriate performance objectives for direct reports or project/account team members and hold people accountable for achieving them, taking appropriate corrective action where necessary to ensure the achievement of team/personal objectives.

Solutions Analysis

Analyze specific problems and issues to find the best solutions. Solutions could be technical or professional in nature.

Regulatory and Compliance Management

Investigate all kinds of incidents and reports and provide expert advice to more senior colleagues. Minimize risk exposures and ensure adherence with regulatory standards by working with all internal functions to make sure compliance programs are properly implemented.

Organizational Capability Building

Use the organization's formal development framework to identify the team's individual development needs. Plan and implement actions to build their capabilities. Provide training or coaching to others throughout the organization in own area of expertise to enable others to improve performance and fulfill personal potential.

Skills

Action Planning, Claims Management, Data Compilation, Data Controls, Executing Plans, Financial Auditing, Insurance Claims Investigations, Oral Communications, Policies & Procedures, Typology

Competencies

Business Insight

Collaborates

Communicates Effectively

Decision Quality

Directs Work

Ensures Accountability

Financial Acumen

Instills Trust

Education

NQF Level 7 - Degree, Advance Diploma or Postgraduate Certificate or equivalent

Closing Date

30 October 2025 , 23:59

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