Job Description

• Develop systems to manage the company’s risks in the areas of product design, pricing and underwriting risk, credit risk, market risk including investment and liquidity, operational risk including legal, regulatory risk, contagion and related party risk, strategic risk and other risks as may be determined by the business.
• Develop structures and systems for continuous interaction and communication with other departments.
• Institute measures to address any deficiencies identified in the risk management strategy, policies, procedures and controls.
• Ensure that any exceptions to the company’s risk management strategy and policies are authorized by the Managing Director, and where appropriate by the Board of Directors.
• Preservation of assets (both human and physical) by the minimization of loss at the least possible cost to the company through risk avoidance, risk control, risk transfer and risk retention at acceptable levels.
• Oversee and monitor the implementation of the compliance program
• Report on a regular basis to the Executive Committee (EXCO) and compliance sub-committee of the board on the progress of implementation, and assisting these components in establishing methods to improve efficiency and quality of services, and to reduce the vulnerability to fraud, abuse, and waste
• Periodically revise the program in light of changes in the needs of the organization, and in the regulations, laws, policies and procedures of government and other relevant regulators
• Coordinate internal compliance review and monitoring activities, including periodic reviews of departments
• Respond to government/regulators investigations and queries as the principal point of contact
• Maintain a log of communications received relevant to compliance.
• AMLRO for the Company
• Liaise with Business users/department heads to prepare Functional specifications and processes.
• Translate business risk requirements and functional needs into business/reporting and system specifications.
• Support the Operations department with risk assessment and review of transactions.

Required Skills or Experience

• 5 years’ experience in Risk Management and Compliance
• First degree from a recognized University.
• MSc in Risk management or other professional certification will be an added advantage.