Job Vacancies at ARM Life Plc

Job Summary

• Assisting in identifying, analyzing, managing and preventing risks in the Firm’s existing and new businesses, products, operating models and developing/enhancing controls to prevent risk.
• Assisting in managing enterprise-wide risks through the design and implementation of business-specific frameworks and best practice policies and procedures.

Principal Duties and Responsibilities

• Engage in day-to-day identification, measurement and reporting of risk positions.
• Continuous identification of likely risk areas and recommending remedial actions to address such exposures.
• From time to time, work with the Internal Audit team to assess compliance of the business unit with corporate policies, internal procedures, and key regulations governing unit's activities.
• Review audit reports to identify risk areas across the organisation.
• Assist businesses in defining relevant business practices, both at the strategic and operational levels, that would assist businesses in carrying out their operations in a manner that supports them staying within defined risk appetite.
• Ensure prompt reporting of risk exposures/positions and provide advice on possible resolution of critical issues.
• Prepare monthly asset and liability management reports and periodic ALCO related report and data analysis from time to time.
• Monitor credit risk exposures and provide periodic credit risk reports.
• Generate and disseminate market & investment risk position reports including compliance exception reports.
• Carry out operational risk management analysis and resolution, as may be required from time to time.
• Facilitate strategic risk assessment sessions with key business units and compile risk register and risk matrix for dissemination to attendees.
• Design and review risk policies and framework.
• Ensure smooth implementation of defined risk policies.
• Ensure continuous improvement to risk policies, procedures and methodologies.
• Engage in risk management training, workshops, town hall meetings and other form of risk awareness sessions for staff members.
• Prepare necessary risk disclosure reports, such as IFRS 7 reports, as well as other reports that might be required by key stakeholders from time to time.
• Prepare risk reports for individual risk areas as well as aggregated position for internal stakeholders, such as Senior Management and Unit Heads.

Requirements
Minimum Qualifications:

• Between One (1) to three (3) years of relevant experience in the financial services sector.
• First degree in Business, Accounting or other Finance related discipline.
• A professional qualification or a master’s degree would be an added advantage.

Competency and Skills Requirements:

• Knowledge of the local and global financial service industry dynamics including regulations, legislations and operating environment.
• Understanding of risk and return, indicators and risk management techniques as well as trading and pricing derivatives.
• Ability to apply technical aspects of financial services regulation to practical business scenarios.
• Knowledge of market risk concepts; knowledge of financial, systems and process audit.
• Good financial accounting and budgeting skills.
• Understanding of non-bank financial service operations, policies and procedures.
• Problem solving and analytical abilities inclusive of statistics, data analysis and technical skills
• Experience with automated financial systems, including a general ledger and financial reporting software (such as Oracle, Bloomberg, Hi-port etc)
• Good knowledge of MS Excel as an analytical tool and other MS Office Applications, including macro driven processes
• Integrity and good decision-making ability.
• Exceptional attention to detail.
• Good communication, interpersonal, presentation and facilitation skills.
• Self motivated with a strong drive, and commitment to achieving agreed objectives.

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Job Objective(s)

• Responsible for providing strategic support to the organization’s achievement of its corporate objectives, through the enablement of efficient and effective governance of significant risks and related opportunities, across the organization.

Duties and Responsibilities

• Risk Monitoring: Undertake the development, deployment, and analysis of Risk Control Self-Assessment Questions, Key Risk Indicators (KRIs), and other strategic risk parameters (i.e. losses and incidents, key risk exposures and early warning indicators).
• Risk Assessment: Support the development of analytical systems, data management capabilities, & processes, and undertake risk assessments of the organization’s products, procedures, Service Level Agreements etc.
• Risk Identification and Mitigation: Lead the proactive identification and analysis of emergent risks to the organization, design appropriate mitigations, and implement accordingly.
• Manage Risk Management Policies and Processes: Lead the development and continuous improvement of the organization’s operational and financial risk management processes, and policies, in line with identified best practices, and organizational fit, in order to mitigate the impact of risk events on the organization.
• Risk-Based Capital Allocation: Apply appropriate methodology(s) to determine the allocation of economic capital to business activities based on risk, with the aim of optimizing the group’s risk portfolio through business activities & risk-transfer strategies.
• Process Mapping: Lead the mapping of functional processes across the organization, for the purposes of documenting controls in existing products and processes.
• After Action Reviews: Disseminate learning points from loss and loss events to all employees.
• Support Team’s Development: Provide advice, guidance, and assistance to less experienced colleagues as required.

Key Competencies
Behavioral:

• Achievement (Level 2/4)
• Analytical Thinking (Level 3/4)
• Customer Service Orientation (Level 3/4)
• Entrepreneurship (Level 2/4)
• Flexibility (Level 3/4)
• Holding People Accountable (Level 3/4)
• Intercultural Competence (Level 2/4)
• Leading and Developing Others (Level 3/4)
• Professional Confidence (Level 3/4)
• Relationship Building for Influence (Level 2/4)
• Self-Awareness (Level 3/4)
• Team Working (Level 3/4)
• Working Strategically (Level 3/4)
• Communicating Effectively (Level 3/4)

Technical:

• Risk Management Policies and Procedures (RAC001 - Level 3/4)
• Risk Identification and Assessment (RAC002 - Level 3/4)
• Risk Response and Reporting (RAC003 - Level 3/4)
• Process Management (RAC008 - Level 3/4)
• Financial Analysis (FTM007 - Level 3/4)
• Market and Regulatory Environment (GMT007 - Level 2/4)

Requirements

• Bachelor Degree from an accredited university
• Professional certification in finance and/or risk management from a recognized professional body (e.g. CFA, CGMA, ACCA, ICAN e.t.c)
• Minimum of 9 years of work experience