• Job Description

  Req#: JR-50164

  Let's Write Africa's Story Together!

  Old Mutual is a firm believer in the African opportunity and our diverse talent reflects this.

  Job Description

  This Cape Town based position is a Line 2 Risk Officer role in the Enterprise Risk Management (ERM) team within OML Group Risk and reports to the Senior Risk Officer.

  The risk officer will support the Senior Risk Officer in providing oversight, monitoring any appropriate challenge of the business unit’s overall risk profile to ensure that Line 1 management is appropriately managing their risks and the control environment to meet their business objectives.

  The role will have responsibilities relating to the assigned business unit(s), as well as the ERM Centre of Excellence in which the team resides and may change from time to time.

  Job Key Result Areas

  Advisory & Risk Partnership

  • Supports, advises and assists Line 1 management across the value chain to embed risk management
  • Contribute to, and if necessary, challenge the alignment of the business level strategy and plan (ideally explicit not implicit) to the OML Group strategy and agreed risk strategy and risk-return framework
  • Challenge and advise on additional/ alternative management actions to achieve acceptable residual risk relative to appetite

  Risk Management & Control Environment

  • Advise Line 1 management on developing processes and controls to manage risks.
  • Ensures that risk management processes (identify, measure, respond, monitor and report risk) are implemented at business unit level
  • Monitor the adequacy and effectiveness of the risk management system and internal control environment, accuracy and completeness of reporting.
  • Provide the necessary information to enable the prioritisation of management actions to remediate control weaknesses
  • Challenge management where appropriate and express an opinion on business unit risk and internal control environment
  • Ensure that any breach of risk limit is timeously identified and escalated. Provide input to and/or challenge corrective actions taken to reduce the risk exposure.
  • Assists Line 1 management to rollout the risk management strategy & risk policies as per the OML requirements
  • Support Line 1 management to complete annual and quarterly risk processes.
  • Provides support to business unit management in carrying out risk-related responsibilities and influence risk-based decision making

  Reporting

  • Set standards for risk reporting and specify requirements
  • Provide Line 2 risk reports to Executive and Board Risk Committees.
  • Provide a Line 2 opinion on risks at relevant Committees and Boards

  Risk Culture

  • Positively influence the business unit’s risk culture
  • Support Line 1 Management to identify actions that will improve the risk culture

  Centre of Excellence Activities

  • Support CoE activities to identify and manage operational risk
  • Participate in and contribute to relevant deep-dives and reviews of strategic programs

  
  Job Requirements

  • Matric
  • Tertiary qualification related to risk management and/or audit/process/ engineering/operations or related area.
  • 4-5 years’ relevant ERM experience (preferably in Financial Services).
  • Experience in digital & data and artificial intelligence (AI) will be highly advantageous
  • Strong Stakeholder management experience at middle and senior management level is required
  • Experience in completing a risk deep dive and the ability to assess the Internal Control environment is required
  • Life Insurance experience would be advantageous
  • Strong verbal and written communication skills – ability to write and present reports.
  • Able to work under pressure and meet deadlines.

  The appointment will be made from the designated group in line with the Employment Equity Plan of Old Mutual South Africa and the specific Business Unit.

  Skills

  Education

  Bachelors Degree (B) (Required)

  Closing Date

  18 March 2024

  The appointment will be made from the designated group in line with the Employment Equity Plan of Old Mutual South Africa and the specific business unit in question.

  Old Mutual Limited is pro-vaccination and encourages its workforce to be fully vaccinated against Covid-19.

  All prospective employees are required to disclose their vaccination status as part of the recruitment process.

  Please refer to the Old Mutual’s Covid-19 vaccination policy for further detail. Kindly note that Old Mutual reserves the right to reinstate the requirement to vaccinate at any point if it is of the view that it is imperative to do so.

  The Old Mutual Story!

• About the company

  Old Mutual Limited is a pan-African investment, savings, insurance, and banking group.

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