Overview
Executive Head – ERM and Ops Risk Jobs in Johannesburg, South Africa at Rand Mutual Assurance
THE JOB AT A GLANCE
The Executive Head: ERM and Ops Risk provides strategic leadership in the development, implementation, and maintenance of enterprise-wide risk management, operational and business risk frameworks, including the Own Risk & Solvency Assessment framework. This role is part of the second line of defence (2
LOD) and is crucial in shaping the company’s Enterprise-wide Risk Management (ERM), Internal Controls, Operational and Business Risk Management Frameworks.
WHAT YOU WILL DO
Strategic Leadership
- Contribute towards the development of the departmental strategy and annual performance plan
- Prepare the annual budget for the area of responsibility in accordance with financial policy and procedures
- Develop and execute the enterprise risk management framework and strategy aligned with the overall company strategy, objectives and risk appetite
- Lead the integration of risk management considerations into strategic planning and business decision-making processes
- Establish and enhance risk taxonomy and governance structures that enable effective risk governance and oversight
- Drive innovation in risk management methodologies and technologies to enhance organizational resilience, including business continuity
- Champion and implement the Own Risk & Solvency Assessment framework at RMA
- Champion and implement the Combined Assurance Model at RMA
- Champion and implement the Internal Controls Framework
- Serve as a trusted advisor to the Board, Group Risk and Audit Committees, Actuarial & Risk Advisory Board and Executive Management on all risk-related matters.
- Deputises for the Chief Risk Officer on all enterprise-wide and operational risk management matters.
Risk Framework Management
- Build a robust Enterprise Risk Management (ERM) infrastructure by strengthening the methodologies, systems, and tools, creating committees and working groups across leadership, and improving the depth of information resources and internal/external relationships
- Design, implement, and maintain comprehensive ERM, Internal Controls and Operational Risk Frameworks in line with best practice approaches that aligns with regulatory requirements and industry standards
- Organize and facilitate workshops for process mapping of key business processes, the identification and assessment of inherent business risks and controls
- Lead the development and/or reviews of risk appetite statements and corresponding tolerance and threshold levels, make recommendations or escalations, including performance indicators/ metrics
- Oversee and challenge of the business’ adherence to risk appetite for operational risks, ensuring the process is owned by relevant First Line teams
- Proactively engage the Risk Champions to monitor and report the risks, build tools & processes, drive risk informed decision making and enhance risk informed execution
- Embed existing, new and/or updated ERM principles and capabilities across the company with the aim of ensuring consistent application of risk methodologies and building up “a risk culture” across all business units
- Lead enterprise-wide initiatives to strengthen operational resilience
- Provide training to First Line risk champions, raising awareness of the ERM and Operational Frameworks processes applicable to staff
- Review and challenge to operational change projects via Steering Committee membership or undertaking project risk reviews
- Lead enterprise-wide initiatives to strengthen operational resilience
- Develop and deploy an internal control framework for management of all material risks, including outsourcing risk, and provide oversight, monitoring and challenge to the First Line to ensure no degradation in the outsourced service performance that may result in material risk
- Act as second line of defence to ensure the business continuity plan remains fit for purpose and participate in the tests to ensure the control environment is appropriate
- Advise the Group Risk and Audit Committees on changes and enhancements to be made to the Frameworks to ensure they remain market-leading and aligned to the company’s overall strategy and objectives
- Drive continuous improvement of risk management process, tools and systems by conducting a gap-analysis…
Title: Executive Head – ERM and Ops Risk
Company: Rand Mutual Assurance
Location: Johannesburg, South Africa
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