Enterprise Risk Manager

iMasFinance Co-operative (Ltd); Gauteng; On-site; ZAR 900,000 - 1,600,000; Full time

Job summary

iMasFinance Cooperative Limited is seeking an experienced Enterprise Risk Manager to develop and maintain risk policies and models across credit, operational, conduct, fraud, IT/cyber and third‑party risks. The role reports to the Head: Legal and Compliance and leads combined assurance efforts.

The successful candidate will provide assurance that controls operate effectively and will drive risk awareness, governance and reporting to senior governance forums within the Group.

Qualifications

• Bachelor's or Diploma in risk management with substantial relevant experience.
• Post-graduate degree recommended for advanced roles.
• IRMSA membership and professional accreditation advantageous.
• Business continuity certification advantageous.
• Code 8 driving licence essential.

Responsibilities

• Develop, implement and maintain an enterprise risk management framework based on ISO 31000 and COSO.
• Provide risk analyses to enable commercial success and regulatory compliance.
• Establish risk appetite and KRIs aligned with strategic objectives.
• Lead risk assessment and reporting to Exco, Board and governance forums.
• Develop business continuity plans and assist cross-functional teams with risk mitigation.

Skills

Risk governance

Stakeholder management

Regulatory knowledge

IT/cyber risk

Regulatory compliance

Power BI

MS Office

Communication

Education

Bachelor's degree in Risk Management (NQF 7)

Post-graduate Degree in Business Management/Accounting/Finance

Tools

Exclaim

Power BI

MS Excel

Job description

In support of the iMasFinance transformation strategy, preference will be given to candidates from the designated groups, specifically targeting African Males, African Females and candidates with disabilities.

iMasFinance Cooperative Limited is a financial services (financing and insurance) provider seeking a dynamic and experienced Enterprise Risk Manager to join our team in Centurion. The position reports to the Head: Legal and Compliance. The successful incumbent will be responsible to assist in developing and implementing risk policies and processes throughout the Group. The function will also provide hands-on development of risk models covering credit, operational, conduct, fraud, IT/cyber and third-party risk, provide assurance that controls are operating effectively, and provide research and analytical support in risk management. Combined Assurance forms the basis of the Group's assurance methodology, and the Enterprise Risk Manager takes the lead in developing, maintaining, managing and executing a comprehensive process for identifying, monitoring and reporting on risks that may impact organisational performance.

Job Outputs:

• Develop, implement and maintain an enterprise risk management framework, methodologies and supporting policies and procedures, including assurance in respect of its implementation based on ISO 31000 and COSO standards and principles
• Deliver timely risk management analysis and advice to specific areas of the organisation to enable the business to be commercially successful and fully compliant with legal and regulatory requirements
• Establish risk appetite and tolerance levels in alignment with the organisation's strategic objectives
• Establish mechanisms to monitor and report on key risk indicators (KRIs) and other risk metrics
• Conduct risk assessments on the design and operational effectiveness of key processes and produce timely control assurance reporting
• Assist the business in identifying and formulating corrective strategies and implementation plans for key corrective actions and preventative controls
• Develop a sound Risk Management culture within the Group
• Collaborate with department heads and cross-functional teams to develop and implement risk mitigation strategies and action plans
• Recommend appropriate risk treatment options, such as risk avoidance, risk transfer, risk reduction, or risk acceptance
• Develop, implement and maintain a Business Continuity Management framework, methodology and supporting policies and procedures
• Facilitate the development of business continuity management plans by supporting other functional areas of the business in developing their business risk and business continuity management plans
• Ensure that the organisation's risk management practices and policies comply with regulatory requirements, and recommend improvements where necessary
• Co-ordinate, facilitate and administer the activities of the iMasFinance Enterprise Risk Management Committee
• Prepare, submit and/or present risk reports to stakeholders in forums such as Manco, Opsco, Exco, the Audit and Risk Committee and other governance forums within the business
• Compile the minutes, Agenda and document pack for the Enterprise Risk management Committee
• Identify current and emerging risks by evaluating the internal and external risk environment on a continuous basis
• Establish and maintain a risk management culture, and plan, develop and implement risk awareness communication and training across the organisation
• Co-ordinate risk management with assurance providers and report risk related matters to relevant stakeholders
• Build and maintain good stakeholder relationships

Qualifications

• Relevant Degree (NQF 7) in Risk Management (minimum/essential). A relevant Diploma (NQF 6) may be considered together with substantial additional risk management experience.
• Post-graduate Degree in Business Management, Accounting or Finance (recommended)
• Membership of the Institute of Risk Management South Africa (IRMSA)
• Professional designation such as Risk Management Certified Practitioner or Risk Management Certified Professional (advantageous)
• Business continuity certification, or Business Continuity Institute (BCI) certification (advantageous)
• Valid driver’s licence - Code 8 (B and EB) (Essential)

Experience:

• 8–10 years’ operational experience in Enterprise Risk Management in the financial services industry (minimum/essential) of which at least 3–5 years in a managerial role (recommended)
• Experience within a registered credit provider (NCA) and/or a FAIS-authorised financial services provider or insurance intermediary (strongly preferred)
• Experience preparing and presenting risk reports to Exco, the Audit and Risk Committee and the Board
• Experience in a multi-entity group with a regulated subsidiary (advantageous)
• Experience in incident management, including incident response planning and coordination

Knowledge and Skills:

• Excellent interpersonal skills and the ability to work as part of a team
• A sound understanding of the credit and insurance intermediary industry and related risks, including credit risk (including IFRS 9 expected credit loss), conduct, fraud, IT and cyber, third-party/outsourcing, liquidity/funding and concentration risk
• Working knowledge of the legislation applicable to credit providers and financial services providers, including the National Credit Act, the FAIS Act and General Code of Conduct, the Policyholder Protection Rules and Treating Customers Fairly principles, FICA, POPIA and the Financial Sector Regulation Act
• Knowledge of the King V Code on Corporate Governance, particularly as it relates to risk governance and combined assurance
• Understanding of IT and cyber risk management
• Strong knowledge of risk management principles, frameworks, and industry best practices
• Strong written and verbal communication skills, with experience communicating at executive and Board level and the ability to explain technical risk issues clearly
• Good facilitation skills
• Computer literacy with advanced proficiency in excel and a good knowledge of relevant software
• Dynamic, confident, energetic, articulate, collaborative and confident, with sound judgement
• Familiarity with regulatory requirements and standards related to risk management, Combined Assurance, corporate governance and accountability, internal control and assurance
• Understanding of business continuity requirements
• Proficiency in governance, risk and compliance (GRC) software such as Exclaim, data analytics and reporting tools (e.g. Power BI) and MS Office applications
• Ability to challenge the first line of defence constructively while maintaining second-line independence
• Ethical conduct and a high level of integrity