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Job Description
JD
The purpose of this role is to support the Enterprise Risk Management and Compliance function through the effective implementation and continuous enhancement of the Group Risk Management and Compliance Framework. The role is responsible for identifying, assessing, monitoring, and reporting risks across the organisation while promoting compliance with regulatory requirements, internal policies, procedures, standards, and controls in line with Group governance requirements.
The position reports administratively to the Board and to the Managing Director, functionally to the Group Sustainability, Risk and Compliance Executive, and maintains technical reporting relationships with the Group Centers of Excellence in Financial and Operational Risk.
PRINCIPAL ACCOUNTABILITIES
Risk Management and Governance
- Support the implementation and monitoring of Group risk management policies, frameworks, standards, systems, procedures, and guidelines across the organisation.
- Identify weaknesses, control gaps, and emerging risks within business processes and recommend appropriate mitigation measures.
- Monitor adherence to approved risk appetite limits, governance standards, and internal control requirements.
- Facilitate periodic reviews and updates of departmental risk registers and monitor implementation of agreed mitigation actions.
- Support the embedding of a strong risk management culture throughout the organisation.
Financial Risk Monitoring and Analysis
- In collaboration with the Group Head of Financial Risk, conduct stress testing, sensitivity analysis, and scenario simulations relating to market, liquidity, credit, and operational risks.
- Analyse financial and operational risk exposures and provide recommendations to management on risk mitigation strategies.
- Prepare and present risk exposure reports, trend analysis, and mitigation recommendations to the Board, Executive Committee (EXCO), and Management Committees.
Compliance Monitoring and Regulatory Oversight
- Monitor compliance with regulatory requirements, internal policies, procedures, and established risk management standards.
- Maintain and track compliance matrices, transaction monitoring activities, and regulatory obligations.
- Support the preparation, review, and submission of regulatory reports to relevant authorities.
- Assist in monitoring compliance with Anti-Money Laundering and Counter Financing of Terrorism (AML/CFT) regulations and related compliance requirements.
Risk Identification and Control Effectiveness
- Conduct risk identification and assessment exercises across departments and operational areas.
- Review and evaluate the adequacy and effectiveness of internal controls and risk mitigation measures.
- Provide guidance to management and staff on corrective actions required to address identified risk and compliance gaps.
- Conduct follow-up reviews to ensure timely implementation of agreed action plans.
Risk Awareness and Capacity Building
- Promote awareness of risk management and compliance requirements through training, workshops, guidance notes, and stakeholder engagement.
- Support staff and management in understanding and implementing the company’s risk management methodologies, frameworks, policies, and procedures.
- Encourage a culture of accountability, compliance, and proactive risk management across the organisation.
Reporting and Risk Analytics
- Prepare periodic risk and compliance reports, dashboards, and analytics for Management, MANCO, EXCO, Board Committees, and regulators.
- Compile and analyse operational risk data, key risk indicators (KRIs), incident reports, and loss event data.
- Support enterprise-wide reporting on operational risk, financial risk, compliance, and AML/CFT activities.
Professional Development and Continuous Improvement
- Maintain up-to-date knowledge of risk management, compliance, governance, and regulatory developments within the insurance and financial services sector.
- Participate in continuous professional development initiatives to enhance technical and professional competence.
- Contribute to the continuous improvement of risk management tools, frameworks, methodologies, and reporting processes.
MAIN ACTIVITIES
- Conduct enterprise-wide risk identification and assessment exercises across all departments and functions and recommend suitable controls to minimise residual risk exposure.
- Monitor compliance with approved risk appetite statements, risk tolerance levels, and governance requirements.
- Conduct Risk and Control Self-Assessments (RCSAs), review incident reports, monitor Key Risk Indicators (KRIs), and analyse operational loss data.
- Support the development, review, and enhancement of risk management policies, standards, procedures, and guidelines.
- Assist in conducting stress testing and gap analysis for market, liquidity, credit, and operational risks.
- Collaborate with business units to assess risks arising from new products, services, systems, and delivery channels.
- Assist in conducting annual AML/CFT risk assessments and ongoing compliance monitoring activities.
- Prepare periodic reports on risk exposures, compliance status, and mitigation actions for management review and decision-making.
- Coordinate follow-up actions arising from audits, risk reviews, and regulatory inspections.
- Support business continuity management, crisis management, and operational resilience initiatives where required.
- Liaise with regulators, auditors, and other external stakeholders on matters relating to risk and compliance.
ANTI-MONEY LAUNDERING (AML) EXPECTATION
▪ The incumbent will provide independent Line 2 leadership and oversight in embedding robust Anti-Money Laundering (AML), Sanctions, and Compliance frameworks across Old Mutual and its subsidiaries.
▪ This includes ensuring effective implementation of policies, procedures, and controls; overseeing due diligence, monitoring, and escalation processes; and fostering a culture of accountability.
▪ The role holder will engage with regulators, senior management, and the board to provide independent assurance on AML compliance effectiveness and support informed decision-making.
Experience
- Minimum of five (5) years’ relevant experience in risk management, compliance, audit, or financial risk analysis within the insurance or financial services industry.
- Demonstrated experience in enterprise risk management, operational risk management, compliance monitoring, and regulatory reporting.
- Experience engaging with regulators and supporting regulatory compliance activities.
Qualifications
- Bachelor’s degree in actuarial science, finance, business administration or related field
- Professional certifications or qualifications in Actuarial Science or Risk Management required.
Skills and Competencies
- Excellent communication skills.
- Demonstrated ability to motivate and manage a diverse team toward strategic goals of the risk management function.
- Demonstrated ability to build consensus across various constituencies and achieve results through the effort of others.
- Strong planning and organizational skills, with an ability to establish a strategic direction and subsequently outline initiatives and develop priorities in support of that vision.
Skills
Business Risks, Compliance Requirements, Legal Practices, Management Reporting, Operation Risk Management, Policies & Procedures, Regulatory Compliance, Regulatory Compliance Management, Risk Monitoring
Competencies
Action Oriented
Balances Stakeholders
Financial Acumen
Instills Trust
Interpersonal Savvy
Manages Complexity
Optimizes Work Processes
Persuades
Education
BA: Actuarial Science, BA: Finance
Closing Date
25 May 2026 , 23:59
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