Risk Analyst at NICO Life Insurance Company Limited

VACANCY ANNOUNCEMENT

RISK ANALYST

NICO Life Insurance Company Limited (NICO Life), a leading provider of innovative life insurance solutions, is an equal opportunity employer and diversity is an integral part of our Business, History, Culture, and Identity.

Inclusion is the way we treat and perceive all differences, and all forms of diversity are seen as real value for the Company.

NICO Life seeks to hire a qualified person for the role of Risk Analyst. The position is based in Blantyre and the person will be responsible for ensuring that all kinds of risks are effectively identified, assessed, mitigated, and monitored to support business-wide decision-making processes.

Reporting to the Risk Manager, the successful candidate will specifically be responsible for:-

1. Risk Identification and Assessment – Assisting in identifying, assessing, and analyzing risks across operational, financial, market, compliance, strategic, and reputational risk areas. Conducting scenario analysis and stress testing, and participating in risk assessment exercises.
2. Risk Mitigation and Control Assessment – Supporting the development and implementation of risk controls, mitigation plans, and business continuity strategies. Identifying operational inefficiencies and weaknesses in control mechanisms, and providing recommendations for improvements.
3. Risk Monitoring – Preparing, analyzing, and presenting regular risk reports, dashboards, and presentations for management and key stakeholders. Tracking and reporting risk trends, risk appetite breaches, and emerging threats in a structured and data-driven manner. Monitoring industry developments and regulatory changes that may impact on the Company’s risk profile and operations is part of this responsibility.
4. Regulatory and Compliance Risk Management – Monitoring compliance with insurance regulations, including AML/CFT, data privacy laws, and solvency requirements; assisting in regulatory reporting, liaising with Compliance, Internal Audit, and Legal teams to ensure adherence to applicable laws, and to mitigate risks.
5. Data Analysis and Risk Modelling – Utilizing statistical models and risk assessment tools to quantify strategic, financial, operational, and compliance risks, including conducting trend analyses
6. Stakeholder Management and Training – Supporting internal training initiatives to enhance risk awareness and embed a risk-conscious culture across the organization. Assisting in risk workshops, scenario planning sessions, and policy simulations to improve preparedness for risk events.
7. Business Continuity Management – Participating in the development and execution of incident response plans to address major disruptions, regulatory violations, or financial shocks; and assisting in conducting thorough post-incident analyses to identify root causes and document key learnings.

REQUIRED QUALIFICATIONS AND EXPERIENCE

1. Bachelor’s Degree in Finance, Actuarial Science, Risk Management, Economics, Statistics, Auditing, or any related field.
2. Charter holder in Accounting or Auditing is desirable.
3. Minimum of 4 years’ work experience in a similar role.

REQUIRED SKILLS AND ABILITIES

1. Strong analytical and problem-solving skills.
2. Proficiency in risk assessment methodologies, financial modelling, and statistical techniques.
3. Ability to interpret complex data, conduct root cause analysis, and present findings clearly.
4. Knowledge of insurance products, underwriting processes, claims management, and investment risk.
5. Advanced Ms Excel skills.
6. Attention to detail and high levels of accuracy in risk reporting.
7. Strong communication, negotiation, and presentation skills.
8. Ability to work under pressure and manage multiple tasks efficiently.
9. Strong ethical standards and integrity in handling sensitive risk information.

Method Of Application

Applications and curriculum vitae including names and contacts of three traceable referees must reach the address below by Friday 4th April 2025 either by post or email at vacancies@nico-life.com

The Head of Human Resources – Insurance Sector
NICO Life Insurance Company Limited
P.O. Box 3044,
BLANTYRE.

Only short-listed applicants will be acknowledged.