Summary
Date Posted: Tuesday, June 04 2024, Base Salary: Not Disclosed

JOB DETAILS:
Jubilee Insurance was established in August 1937, as the first locally incorporated Insurance Company based in Mombasa in 1937. Jubilee Insurance has spread its sphere of influence throughout the region to become the largest Composite insurer in East Africa, handling Life, Pensions, general and Medical insurance.

Job Ref. No. JAML022
Role Purpose
The role holder will be responsible for integration and implementation of the risk strategy, policies, processes, and reports. The role holder will provide oversight and ensure execution of the risk management framework including the risk appetite statement, taxonomy, assessment, treatment, monitoring & reporting as well as communication and training to the business
Strategy
• Collaborate with senior management and other key stakeholders to implement the strategic direction for the Risk Function within the JAML Company. This involves analyzing market trends, assessing industry dynamics, and identifying opportunities for improvement and growth.
• Keep abreast of regulatory developments and industry initiatives and advise management accordingly.

Risk Mitigation and Monitoring:
• Develop and implement risk mitigation strategies and action plans to reduce exposure to identified risks.
• Monitor the effectiveness of risk controls and ensure timely remediation of issues.

Risk Governance and Policies:
• Establish and maintain risk governance frameworks and policies to guide risk management practices across the organization.
• Review and update risk management policies as needed to align with changing regulations and industry best practices.

Operational
• Develop and maintain a risk management strategy for JAML.
• Develop and implement systems, policies and procedures for the identification, collection and analysis of risk related information.
• Carry out comprehensive risk assessments across the business & functional areas in line with the risk management framework.
• Evaluate the adequacy and effectiveness of controls established by management to ensure that identified risks are appropriately mitigated at both departmental and process levels.
• Maintain the risk registers and assist management in tracking progress on the implementation of risk mitigation action plans.
• Evaluate whether department strategies and initiatives are adhered to and are aligned with group goals and objectives.
• Coordinate the performance of strategic risk analysis by reviewing business processes in liaison with business owners to identify potential risks.
• Appraise the efficiency and effectiveness with which resources are deployed to ensure that they are put to the most productive use.
• Participate in the formulation and review of risk management and control activities for products to ensure they meet the set objectives and are worthwhile investments with a quantifiable return.
• Review new and on-going products to ensure that they are carried out only after a comprehensive risk assessment is done.
• Facilitate awareness and training programs on risk management, controls, and compliance activities.
• Stress Testing and Scenario Analysis:
o Conduct stress testing and scenario analysis to assess the company's resilience to adverse economic conditions and market shocks.
• Prepare reports for the Board Audit Committee.

Corporate Governance
• Compliance: Stay updated on industry regulations, compliance requirements, and best practices.
• Adherence to the laws and regulations of Kenya, the policies and regulations within the Asset Management industry and all internal company policies and procedures.
• Ensuring compliance with applicable statutory and regulatory requirements and establishing mitigation measures against emerging business risks.
• Implement effective risk management strategies, including appropriate internal controls, to mitigate operational, financial, and regulatory risks.

Leadership & Culture
• Fostering a corporate culture that promotes ethical practices and good corporate citizenship while maintaining a conducive work environment.
• Collaborate with cross-functional teams to develop initiatives that promote a positive and inclusive company culture.
• To provide the much-needed transformational leadership to meet and surpass the expectations of stakeholders.
• Set performance targets and objectives, monitor progress, and ensure timely completion of activities.
• Conduct regular team meetings and training sessions to enhance skills and knowledge.

Key Competencies
• In-depth knowledge of Asset Management regulations and industry practices.
• Analytical and problem-solving skills to assess and address risks.
• Excellent communication and interpersonal skills to educate and advise stakeholders.
• Ability to collaborate effectively with cross-functional teams.
• Detail-oriented with strong organizational and time management abilities.
• Proactive approach to staying updated on regulatory developments.

Qualifications
• Bachelor’s degree in Investments, Business, Finance, Risk, Compliance, Law or any other related course
• Advanced degree or professional certifications in Risk & Compliance
Relevant Experience
• Minimum 3-4 years’ experience within the compliance sector, risk management and compliance space.
• In-depth knowledge of the financial services industry.
• Proven track record of successfully implementing strategic initiatives and driving process improvements

Work Hours: 8

Experience in Months: 36

Level of Education: Bachelor Degree

Job application procedure

Method of Application
If you are qualified and seeking an exciting new challenge, please apply via Recruitment@jubileekenya.com quoting the Job Reference Number and Position by 9th June 2024. Only shortlisted candidates will be contacted.



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