Risk & Compliance Officer - OMIG

Lets Write Africa's Story Together! Old Mutual is a firm believer in the African opportunity and our diverse talent reflects this. Job Description Job Purpose This role is individually accountable for assisting and supporting the Business Unit Risk and Compliance Specialist in implementing and embedding risk and compliance frameworks by managing financial risk exposures, ensuring regulatory compliance, and providing risk monitoring, reporting, and advisory to support informed decision-making and business resilience. Key Responsibilities Risk Management Support with the implementation of the Financial Risk Management Framework. Coordinate all Financial Risk management requirements and activities in line with local regulations and internal policies, which adequately address Financial Risk types. Provide a second opinion on Asset Liability Management (Strategic Asset Allocation, etc. Develop comprehensive stress test scenarios covering key market, credit and liquidity risks and ensure periodic stress tests are done in line with regulatory and internal requirements and for management decision purposes. Recommend financial risk appetite limits to the business and seek board approval, i.e. Earnings at Risk limits. Monitor and prepare financial risk reports for the different committees. Coordinate the Risk & Control Self-Assessment (RCSA) framework across the Business and ensure all risks and controls are well maintained and updated in CURA. Coordinate the recording and validation of the risk appetite metrics within the risk appetite dashboard for circulation to relevant committees. Coordinate the recording of risk incidents/events and conduct a root cause analysis. Prepare quarterly risk assessment reports for review and submission to the Authority. Coordinating annual localization of the risk policies and procedures to ensure they are fit for the Business Unit’s objections and in line with the relevant regulations by working with the policy owners. Provide timely Risk Management Committee pack and Minutes of Monthly RMC Meetings. Support in the implementation of the BCM framework for the business. New Products and Projects Risk Management Evaluate new products and projects for potential risks through a Comprehensive Risk Assessment. Collaborate with cross-functional teams (e.g. project management, actuarial, legal, IT and quality assurance teams) to gather necessary information and assess the impact of risks on project timelines, budgets, and overall success. Review and monitor the progress of new products and projects, identifying any emerging risks throughout the lifecycle. Provide recommendations and ensure that risk mitigation strategies are integrated into product development and project planning stages. Identify lessons learned from past product launches and projects to improve future risk management practices. Regulatory Compliance Implement Compliance programs that include policies, procedures, conducting monitoring reviews and training to ens