Risk and Compliance Officer

The role is responsible for supporting the identification, assessment, mitigation, reporting, and monitoring of enterprise risks, including compliance with Anti-Money Laundering (AML), Combating the Financing of Terrorism (CFT), and Business Continuity Plans (BCP). It ensures adherence to regulatory requirements, corporate governance standards, and industry best practices.

KEY TASKS, DUTIES AND RESPONSIBILITIES

Co-develop and maintain the company’s enterprise risk management strategy.
Conduct comprehensive risk assessments across business and functional areas in line with the risk management framework.
Develop and implement systems, policies, and procedures for identifying, collecting, and analyzing risk-related information.
Evaluate the adequacy and effectiveness of controls to ensure identified risks are appropriately mitigated at departmental and process levels.
Maintain risk registers and assist management in tracking progress on risk mitigation action plans.
Collaborate with departments to identify, quantify, mitigate, and monitor operational and financial risks.
Monitor risks and communicate relevant information to stakeholders to ensure the effectiveness of the enterprise risk management strategy.
Review new and ongoing products to ensure they undergo comprehensive risk assessments before implementation.
Facilitate awareness and training programs on risk management, controls, and compliance activities.
Prepare monthly, quarterly, and ad hoc risk and compliance reports as required.
Coordinate Anti-Money Laundering (AML), Data Protection, and other regulatory compliance activities.
Implement and maintain effective internal controls to prevent and detect compliance violations within insurance operations.
Ensure business units comply with applicable regulations through continuous monitoring and review of legislation, internal policies, and controls.
Identify, assess, control, and enforce compliance risk management across the organization.
Detect, report, and follow up on suspicious transactions.
KEY COMPETENCIES

In-depth knowledge of the financial services industry.
Strong analytical, organizational, and problem-solving skills.
Personal attributes: integrity, dependability, initiative, results-orientation, creativity, and
strong interpersonal skills.
Effective verbal and written communication skills.
Proactive in staying updated on regulatory developments.
Knowledge of automation in risk management.
Competence in data analytics.
REQUIREMENTS

Bachelor’s degree in Insurance, Finance, Accounting, Risk, Compliance, Law, or a related field.
Risk certification or equivalent professional qualification.
Membership in a relevant professional body is an added advantage.
3–5 years of experience in risk management or compliance.