Risk Officer - ERM (Insurance)

nedbank; Johannesburg; On-site; ZAR 600 000 - 800 000; Full time

Job summary

A leading financial services provider in Johannesburg is seeking a Senior Risk Officer to enhance risk management frameworks across the organization. The successful candidate will implement and oversee compliance with risk policies, focusing on non-financial risks like Operational and Strategic Risks. Ideal candidates will possess a relevant bachelor's degree and at least 5 years of experience in risk management, aiming to strengthen the company's enterprise risk capabilities.

Qualifications

• At least 5 years’ experience in risk management within the financial services sector.
• Solid understanding of risk management frameworks and relevant regulatory requirements.
• Proven experience in implementing risk policies, procedures, and controls.

Responsibilities

• Support the Head of ERM in embedding a robust risk management culture.
• Implement and influence risk management frameworks and policies.
• Conduct risk workshops and training to deepen understanding of risk management.

Skills

Risk Management

Data Analysis

Communication

Governance

Education

Bachelor's degree in Risk Management, Finance, Business or related field

Advanced Diplomas/National 1st Degrees

Tools

Risk Management Frameworks

ISO 31000

Job description

• Cluster: Personal and Private Banking | Nedbank Insurance | Risk
• Please Note: Preference will be given to applicants from Underrepresented Groups

Job Family

Risk, Audit and Compliance

Job Purpose

Nedbank Insurance is seeking an experienced Senior Risk Officer to provide support to the Head of Enterprise-wide Risk Management (ERM) to facilitate the effective implementation and management of the Enterprise Wide and Operational Risk Frameworks to manage current and emerging risks and assist Nedbank Insurance in achieving its objectives and strengthen its enterprise risk management capabilities.

The successful candidate will be responsible for the implementation of risk management frameworks, policies, processes and procedures, and practices for non-financial risks across a range of business functions (i.e. including, but not limited to Operational Risk, Strategic Risk, Reputational Risk, Compliance & Regulatory Risk, Conduct Risk, Technology and Digital Risk, Cyber Risk, Data Risk, Sustainability (ESG) Risk, and excluding Liquidity & Funding Risk, Insurance Risk, Capital Risk, Credit Risk, and Market Risk).

Job Responsibilities

• Support the and Head of ERM in embedding a robust risk management culture and framework within the business.
• Implement and influence improvement of risk management frameworks, policies, and procedures in alignment with Nedbank Insurance’s strategic objectives and regulatory requirements, and that of the broader Nedbank organisation.
• Collaborate with various business units to embed effective risk management practices and ensure consistent application of risk processes across the organisation.
• Implement the Risk Change Management, Communication and Training Plan. Conduct risk workshops and training sessions to promote a robust risk culture and deepen the understanding of risk management throughout the division.
• Facilitate risk assessment i.e. the identification, analysis, assessment, and evaluation of non-financial risks, including, but not limited to Operational Risk, Strategic Risk, Reputational Risk, Compliance & Regulatory Risk, Conduct Risk, Technology and Digital Risk, Cyber Risk, Data Risk, Sustainability (ESG) Risk.
• Support business units in the mitigation of key risk exposures.
• Conduct assurance, including monitoring and review.
• Facilitate risk and control self-assessments (RCSAs)
• Drive effective loss data management, risk incident investigations, root cause analysis, and ensure effective remediation and lessons learned are documented and implemented.
• Prepare high-quality risk reports and dashboards for senior management and relevant governance committees.
• Monitor the implementation of agreed risk mitigation actions and track progress to completion, including tracking of audit issues to resolution.
• Stay abreast of emerging risks, regulatory changes, and industry best practices to ensure proactive management of the risk landscape.
• Assist in the development and testing of business continuity and crisis management plans as required.
• Support internal and external audit processes and regulatory inspections as required.

People Specification

Essential Qualifications - NQF Level

• Advanced Diplomas/National 1st Degrees

Preferred Qualification

• Bachelor’s degree in Risk Management, Finance, Business, or a related field (essential).
• Professional risk management certification is advantageous.

Essential Certifications

• Relevant professional bodies (SAICA, CISA, IRMSA, EISA, SAIFM)

Preferred Certifications

Minimum Experience Level

• At least 5 years’ experience in risk management within the financial services sector, with a strong focus on non-financial risk disciplines.
• Solid understanding of risk management frameworks (e.g., ISO 31000) and relevant regulatory requirements.
• Proven experience in implementing risk policies, procedures, and controls within a complex organisational environment.
• Knowledge of insurance industry.

Technical / Professional Knowledge

• Cluster specific operations
• Communication Strategies
• Data analysis
• Governance, Risk and Controls
• Principles of financial management
• Principles of project management
• Relevant software and systems knowledge
• Research methodology
• Decision-making process
• Earning Trust
• Communication
• Decision Making
• Work Standards
• Managing Work
• Technical/Professional Knowledge and Skills

Nedbank Ltd Reg No 1951/000009/06.
Authorised financial services and registered credit provider (NCRCP16).

For assistance please contact the Nedbank Recruiting Team at [phone]