Join TIH, home to some of South Africa’s leading financial service providers, and grow your career while being part of an organisation with purpose.
Job Purpose
Lead the Enterprise Risk Management endeavours within the TIH Group, monitor and report at the appropriate levels where the management of its mitigation can be affected and accounted for. Ensure regulatory compliance with the GOI
requirements from the Prudential Authority with respect to the Risk Management Function. Embed the Enterprise Risk Management principles within the TIH Group. Drive forward the establishment of Risk Champions and their continued
engagement with the Enterprise Risk Management software to sustain relevance of the risk registers and the assessment of TIH’s risk profile. Enable the Risk Champions, under the guidance of the Risk Management Function, to execute on risk management procedures, such as risk appetite monitoring, risk assessments and control assessment monitoring across the TIH Group. Maintain the Risk Champion fraternity for TIH and their heightened awareness regarding risks and their emergence.
Responsibilities
Risk Management & Analysis
Take responsibility for developing and delivering the organisation's risk management and/or control policies and procedures. Keep track of risk parameters, identify deviations and report them to more senior colleagues. Work within established risk management systems and assign portfolios within the team that ensures full coverage of the TIH risk environment. Ensure that the Risk Log is complete, up to date and reflects the losses, near misses and external events. Ensure incident information is correct and that the controls in place manage the risk appropriately. Monitor risk appetite and report on risk breaches. Ensure the Internal Audit scope is appropriate and risk based. Ensure the sharing of incidents and risk registers with Internal Audit to aid their review. Collaborate with Assurance providers in terms of monitoring and the confirmation of control efficiencies.
Information and Business Advice
Provide authoritative specialist advice to the leadership team of a small or nationally based organisation or subsidiary to guide the implementation of policy and the design and implementation of projects and change initiatives. Provide specialist advice to the TIH Group’s senior leadership team, resolve queries from internal or external customers or suppliers by providing information on complex processes and the related policies, or refer to other key role players, 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.
Stakeholder Management and Influence
Manage relationships with strategic internal customers and act as a business partner to them. Likely to involve using large account teams to ensure customer satisfaction. Act as a business partner/advisor to prominent internal customers and manage relationships with them, whilst taking guidance from senior colleagues. Responsibilities include supporting internal customers, or helping Head of Risk, manage internal client relationships. Ensure that stakeholders' needs are met. Manage co-dependencies and deliverables with internal and external stakeholders. Participate actively in the development and nurturing of networks and relationships internally and externally to support successful implementation of initiatives.
Financial Management & Control
Manage a significant portion of the organisation's financial management and/or control processes. Work within established systems to deliver prescribed outcomes for a designated area of financial control and track actual outcomes against the budget. Highlight overspending and irregularities.
Compliance Management
Plan, lead and manage all activities of the
regulatory/compliance function and lead the design and implementation of the organisation's compliance policy to facilitate the overall assessment and sustainability of the established compliance strategy while ensuring adherence to regulatory standards. Identify shortcomings in compliance processes, systems and procedures, and collaborate on the development of ad hoc solutions to problems throughout the TIH Group. Ensure regulatory compliance within the risk division. Be collaborative within the broader team to ensure that the Business Continuity Management regulatory requirements are met. Ensure that Risk and BCM practices are aligned to market best practice.
Data Collection and Analysis
Make authoritative recommendations that have a significant impact on the business over the short and long term. Recommendations could be technical or professional in nature. Collate and analyse data using pre-set tools, methods and formats. Conduct 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. Support Business Continuity Management coordination and reporting.
Policy Development & Implementation
Develop a comprehensive policy framework for a significant area of the business, and oversee its implementation. Coordinate the development and ongoing maintenance of relevant risk management 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.
Recommendations
Propose the broad strategy for a significant entity. This could be a business or group of businesses or a strategically important function that has scale and global reach or a smaller, less complex organisation or a large, relatively autonomous subsidiary. Provide information and clarification on existing procedures, processes and precedents. Manage the incident reporting process, specifically in terms of control reviews and future improvements. Draft and present risk reports, including the emergence of risks, and proposals to executive leadership and the Head of Risk.
Performance Management
Manage and report on the performance of the function / business area; set appropriate performance objectives for direct reports and hold them accountable for achieving these; take appropriate corrective action where necessary to ensure the achievement of annual business objectives. Respond to individual team member’s personal objectives and use performance management systems to improve personal performance. Monitor the performance of the team; allocate work and review completion, take appropriate corrective action to ensure timeliness and quality; contribute to and execute formal individual performance management and appraisal.
Leadership and Direction
Set and communicate the strategy for achieving the organisation's mission, vision and values within a function, together with the broad actions needed to implement it; inspire a large or diverse workforce to commit to these and to doing extraordinary things to achieve the organisation's business goals. Communicate the action plan; explain how this relates to the Risk Management Function’s strategy and action plan and the broader organisation's mission and vision; motivate people to achieve local business goals.
Building Capability
Hold overall responsibility for building the capabilities of a large or diverse workforce, and build a leadership team for own area or function. Work within existing development framework to build own capabilities and those of direct reports. Provide specialised training or coaching to others throughout the organisation regarding Risk Management. Strengthen Risk Management Awareness within TIH through awareness creation and training, and support the same for Business Continuity Management.
Education
Post Graduate (Doctorate - PhD or Higher) Grade 12/ SAQA Accredited Equivalent; BSc Actuarial / BCom / BTech Degree (Essential); Degree in Risk Management/Financial Risk or similar Professional qualification in Risk Management FRM/PRMIA ORM/ CRISC (Advantageous)
Experience
7 years' experience in the Insurance industry; At least 5 years risk management experience in the financial services industry (Essential). Managerial Experience: 1 to 3 years' experience of supervising and directing people and other resources to achieve specific end results within limited timeframes (Advantageous)
Think you have what it takes to be part of an unstoppable team who constantly finds better ways to give peace of mind? Don't wait, apply now.
