Risk Officer at Old Mutual Plc

Job Description

• This role is individually accountable for assisting the BU in establishing and embedding a culture of proactive risk based decision making as well as ensuring that risk processes are implemented at the BU level. The individual is accountable for achieving results through their efforts over periods of up to 3 months.

Descriptor

• Challenges risk management information collated by and received from business units.
• Ensures risk processes (risk assessment, identification, management, reporting, and optimization) are occurring at the BU level.
• Provides knowledge of systems/supporting guidance, and procedures and assists the business in the implementation of risk issues.
• Provides oversight for risk management activities ensuring Group Risk Policy statements are met.
• Identifies applicable legislation and analyses the impact thereof on the BU and applies this to BU processes and procedures.
• Ensures compliance by the BU with applicable legislation by means of the implementation of compliance risk management and monitoring plans.
• Ensures monthly risk control logs are updated and follows up with various Line Managers.
• Performs quarterly compliance audits on processes.
• Performs monthly quality assurance reviews on audit issues and identified control breaks.
• Compiles monthly reports (standing reports) on issues identified and reports on actions taken to rectify the problem.
• Reports risk events and compliance breaches to management on a monthly/quarterly basis.
• Facilitates and in appropriate circumstances partakes in, remedial actions developed by the BU to help eliminate risk issues and non-compliance with legislation and regulation.

KEY RESULT AREAS:

Personal Effectiveness:

• Accountable for service delivery through own efforts.
• Individually accountable for managing own time, tasks, and output quality for periods of up to 3 months.
• Makes increased contributions by broadening individual skills.
• Collaborates effectively with others to achieve personal goals.
• Accepts and lives the company values.

Risk Management:

• Challenges risk management information received from reporting entities
• Ensures risk processes (risk assessment, identification, management, reporting, and optimization are occurring at the BU level.
• Provides knowledge of systems/supporting guidance, and procedures and assists the business in the implementation of risk issues.
• Provides oversight for risk management activities, ensuring Group Risk Policy statements are met.
• Provides support in carrying out risk-related responsibilities.

Compliance:

• Identifies applicable legislation and analyses the impact thereof on the BU and applies this to BU processes and procedures.
• Ensures compliance by the BU with applicable legislation by means of the implementation of compliance risk management and monitoring plans.
• Performs quarterly compliance audits on processes.
• Reports compliance breaches on a monthly/quarterly basis.
• Facilitates and in appropriate circumstances partakes in, remedial actions developed by the BU to help eliminate non-compliance with legislation and regulation.

Reporting:

• Ensures monthly risk control logs  and risk events are updated and follows up with various Line Managers.
• Compiles monthly reports (standing reports) on issues identified and reports on actions taken to rectify the problem.

Qualification & Experience

• Bachelor's degree.
• 3 years relevant experience