United General Insurance Company
Overview
RISK AND COMPLIANCE OFFICER
United General Insurance Company seek to recruit an energetic and ambitious individual to lead its Risk and Compliance Management function.
The Risk & Compliance Officer will be responsible for:
The leadership, direction and coordination of the company-wide application of risk management at UGI;
Ensuring that the principles and requirements for managing risks are consistently adopted and applied throughout the Company; and
To continually update the risk management framework to assist the Company in its realisation of business objectives and continual development.
KEY RESPONSIBILITIES
Policy and Strategy
To design and oversee the Company-wide risk management strategy, aligning all risk management and associated internal control activities to support achievement of business objectives.
To facilitate the integration of risk management policy and strategy into all department’s strategies and activities
To design and implement an overall risk management process for the organization, which includes an analysis of the financial impact on the company when the risks occur.
To ensure appropriate information on risk and internal control is provided to the stakeholders of the Company in a timely manner to minimise/eliminate the adverse effects;
To oversee procurement of various services and products within the Company to ensure compliance and alignment to Company policies and procedures.
To establish and quantify the Company’s Risk Appetite and advise the Management on the same.
To maintain awareness of trends and developments in risk management that may be significant to UGI and the Insurance Industry in general.
To minimize both long term and day to day operational risks through assessments, evaluations and trainings.
Risk Identification and Assessment
Ensure that risk identification and assessment activities are performed across the Company on a regular basis, Standard Operating Procedures(SOPs) are reviewed and challenged where necessary and appropriate escalation procedures are in place.
Prepare risk management and insurance budgets prior to the occurrence of risks.
To maintain independentchallenge on risk and assurance issues through management of the risk function.
To monitor and report to UGI’s Audit and Risk Committee on total level of the
Company’s risk exposure.
Reporting and Stakeholder Engagement
Ensure effective and timely reporting of risk management information to the Management team and Board.
To represent UGI risk management positions, strategies and experiences at internal and external forums to maintain high reputation.
Conducting policy and compliance audits, which will include liaising with internal and external auditors.
Maintaining records of insurance policies and claims.
Management Responsibilities
To be responsible for the set-up, management and coordination of the risk department.
To be responsible for coordination of outsourced specialist audits.
To report to the CEO, and the Audit and Risk Committee on risk management performance.
Reviewing any new major contracts or internal business proposals.
Line Support and Knowledge sharing
To facilitate risk management knowledge and best practice sharing across the Company, with reference to external best practice where appropriate.
To support senior management with any aspect of risk management and oversee key risk management training initiatives including key senior management training and employee induction programmes.
To improve/inculcate risk awareness culture across the organisation.
Additional Skills
• Good Communication
• Commercial awareness
• Leadership ability
• Stewardship qualities
• Strong analytical skills
The successful candidate is expected to:
• Have a minimum of a relevant Bachelors Degree from a recognised University.
• Have not less than five years’ experience in a busy and reputable organisation.
Method Of Application
Interested applicants should submit their applications including names of three traceable referees to:
The Human Resources & Administration Manager
United General Insurance Company
P O Box 383
BLANTYRE.
E-mail: vacancy@ugi.mw
Closing date – 26th May 2023.