Key Responsibilities
Enterprise Risk Management
- Develop and implement the Enterprise Risk Management (ERM) Framework, risk taxonomy, risk assessment methodology, and risk reporting framework.
- Establish and monitor the company's Risk Appetite Framework, including risk limits, thresholds, key risk indicators (KRIs), and escalation mechanisms.
- Maintain an independent view of the company's overall risk profile and emerging risks.
Compliance Management
- Establish and manage the Compliance Framework, Compliance Program, and Regulatory Obligations Register.
- Monitor regulatory compliance, identify breaches, track remediation actions, and report compliance status to senior management.
- Promote a strong compliance culture across the organization.
Second Line of Defense Oversight
- Act as the independent second line of defense by challenging and overseeing risk and compliance activities performed by business units.
- Define risk governance standards, control expectations, and monitoring mechanisms.
- Ensure appropriate segregation between risk ownership, oversight, and internal audit responsibilities.
Risk Monitoring & Early Warning
- Insurance Risk
- Capital & Financial Risk
- Liquidity Risk
- Investment Risk
- Reinsurance Risk
- Operational Risk
- Technology & Cyber Risk
- Data & AI Risk
- Third-Party Risk
- Fraud Risk
- Reputational Risk
- Develop risk dashboards, management reports, and early warning mechanisms for Executive Management.
Operational Risk & Internal Control
- Implement operational risk management frameworks, incident reporting processes, control assessments, and remediation tracking.
- Monitor key risk indicators and control effectiveness.
- Analyze root causes of incidents and identify preventive actions.
Risk & Compliance by Design
- Participate in product development, business initiatives, operational processes, technology projects, partnerships, and transformation programs.
- Ensure key risks and compliance requirements are identified and addressed early in the design stage.
Digital Risk & Data Governance
- Support the digitalization of risk and compliance management through automation, dashboards, and integrated monitoring tools.
- Leverage data analytics to strengthen risk monitoring, compliance oversight, and decision-making capabilities.
- Provide oversight of technology, cybersecurity, data privacy, AI, cloud, and third-party risks.
Leadership & Team Development
- Build and lead the Risk Management & Compliance team.
- Develop talent, capabilities, governance standards, and risk awareness throughout the organization.
- Foster a culture of accountability, transparency, and risk-informed decision-making.
Requirements:
Education
- Bachelor's degree or above in: Risk Management/Insurance/Finance & Banking/Economics/Law Or related disciplines
Experience
- Minimum 8-10 years of experience in Risk Management, Compliance, Internal Control, Audit, or related functions within financial services.
- At least 3 years of leadership experience in Risk Management and/or Compliance.
- Experience developing Enterprise Risk Management Frameworks, Risk Appetite Frameworks, Compliance Programs, or Three Lines of Defense models.
- Experience in non-life insurance is highly preferred.
- Experience building governance functions in a start-up, transformation, or newly established organization is a strong advantage.
Professional Expertise:
- Enterprise Risk Management (ERM)
- Risk Appetite Frameworks
- Operational Risk Management
- Compliance Management
- Internal Controls
- Three Lines of Defense
- Risk Governance
- Understanding of: Insurance Risk/Capital & Solvency (RBC)/Reinsurance Risk/Technology & Cyber Risk/Data Governance & AI Risk/Regulatory Compliance
Skills & Competencies
- Enterprise Risk Management
- Compliance & Regulatory Management
- Risk Governance & Oversight
- Operational Risk & Internal Control
- Risk Analytics & Early Warning Systems
- Stakeholder Management
- Strategic Thinking
- Independent Challenge & Decision Making
- Team Leadership & Talent Development
- Change Management