RK – Risk
Estimated Travel Percentage (%): Up to 25%
Relocation Provided: No
AIG South Africa
The role of the CRO Africa Zone is to maintain a robust risk management framework that is appropriate for the size, business mix and complexity of AIG businesses in Africa, is in line with AIG policies and meets regulatory expectations., in close collaboration with the AIG ERM function in AIG MEA region.
PRINCIPLE DUTIES AND RESPONSIBILITIES:
- Ongoing review and enhancement of the embedding of a robust and fit-for-purpose enterprise risk management framework, within the Africa business processes
- The risk management oversight will focus predominantly on the South African operations and covers all known and emerging risk (including Insurance, Market, Credit, operational, Conduct and Strategic risk), and will include effective management of a team of Operational Risk resources, as well as a small team responsible for Outsourcing oversight.
- Adequate support and assurance to the board of directors and the managing director in meeting their responsibilities with respect to the protection of policyholders and the management of the risk profile of the companies in scope
- Engage with the Regulators and Rating Agencies as and when required
- Responsible for the overall management and execution of the risk management strategy and activities within Africa, which is aligned to the insurer’s overall business strategy and its business activities, including an annual risk review of relevant business plans
- Facilitate and drive the regular updates and monitoring of the risk appetite statement and tolerances of the companies, any ORSA requirements, as well as Risk registers (including Key Risk Indicators)
- Risk review of major, new initiatives, including new product, process and system developments, as well as outsourcing.
- Further development and implementation of an effective Risk Reporting both internal and external aligned to the overall risk reporting in AIG
- Support the local risk management governance structure and facilitate the quarterly Risk and Capital Committee meetings and other risk forums and committees
- Strengthen the risk culture in the Africa Zone to underpin the effectiveness of the overall risk management framework – this include effective and ongoing risk awareness training, as well as an effective risk champion network.
- Maintain an effective Risk Event reporting program, as well as the execution of risk assessments (including RCSAs).
- Timely escalation of any risk matters within the Africa Zone and in the ERM function
- Financial and corporate governance to ensure cost efficiency including budget management
- Support a combined assurance framework
QUALIFICATIONS:
- CERA, Actuarial, CFA or Chartered Accountant or other qualification relevant for Enterprise Risk Management in an Insurance company
SKILLS
- Exceptional verbal and communication skills, specifically with regards to Executive management and Board members
- Negotiation skills
- Strategic Skills
- Knowledge sharing
- Innovation & Change
- Insurance and Investment technical knowledge, including actuarial methodologies on pricing and reserving and general asset management
EXPERIENCE:
- Over 8 years in Risk Management (either Insurance or Bank) or related field, across multiple risk types
- 3-5 years leadership experience, within an ERM environment preferably
CORE COMPENTENCIES :
Leadership Competencies
- Dealing with ambiguity
- Drive for results, within stretched timelines
- Ability to understand criticality and prioritise
- Managerial courage
- Business Acumen
- Problem Solving
- Presentation Skills
- Emotional intelligence
Technical Skills
- Analytical Skills
- Strategic orientation
- Insurance industry knowledge
- Strong understanding of insurance financial reporting and capital management
- Investment and Insurance risk understanding
- Risk modelling/understanding of risk modelling
- Communicating Effectively
(Including coordination) - Actuarial approached to pricing, reserving and aggregation risk management
It has been and will continue to be the policy of American International Group, Inc., its subsidiaries and affiliates to be an Equal Opportunity Employer. We provide equal opportunity to all qualified individuals regardless of race, color, religion, age, gender, gender expression, national origin, veteran status, disability or any other legally protected categories.
At AIG, we believe that diversity and inclusion are critical to our future and our mission – creating a foundation for a creative workplace that leads to innovation, growth, and profitability. Through a wide variety of programs and initiatives, we invest in each employee, seeking to ensure that our people are not only respected as individuals, but also truly valued for their unique perspectives.
Preference will be given to previously disadvantaged candidates in line with the company’s Employment Equity Plan. Specific preference will be given to people with disabilities.