• Application Deadline: Sun, 10 Mar 2024 00:00:00 GMT
• Position: Senior Risk Analyst


• Job Type Full Time


• Qualification BA/BSc/HND


• Experience 5 - 8 years


• Location Lagos


• Job Field Insurance 
  

Job objectives:

Are you a dynamic and experienced risk professional looking for a challenging role? Our Client, a leading firm in the insurance sector, is looking to hire a highly qualified senior risk analyst to join their team.

As a Senior Risk Analyst, you will play a crucial role in supporting the Head of Risk Management in executing strategic and operational responsibilities for risk management across the organization. This role may also involve contributing to risk management initiatives in other entities of the organization. If you are a seasoned risk professional with a strong analytical mindset and a passion for contributing to effective risk governance, we invite you to explore this exciting opportunity.

Principal Duties / Responsibilities

Governance Activities

• Risk Management Framework:


• Assist in developing, monitoring, and reporting the Risk Management Framework and related policies.


• Enhance processes for alerting management about new issues and risks within the company.

Policy Development and Implementation:

• Support the Head of Risk Management in policy development and implementation.


• Develop and improve risk identification, qualitative and quantitative assessment, mitigation, and monitoring of all risk-related policies.

Regulatory Compliance:

• Ensure regulatory compliance of Risk Management requirements.


• Coordinate with the third line of defense (Internal Audit).

Action Plan Monitoring:

• Assist in monitoring action plans to detect delays or incomplete mitigation tasks proposed by business lines.

Adhoc Activities:

• Risk Appetite Framework:


• Support the Head of Risk Management in the development of the Risk Appetite Framework.

Loss Reporting and Remediation:

• Supervise the reporting of losses by Champions and correspondents.


• Monitor remediation actions.

Business Impact Analysis (BIA) Process:

• Support process owners in the development, review, and overall execution of the BIA process.


• Review consistency of BIA questionnaires and ensure validation and approval by Process Owners and BC Sponsor.


• Develop a consolidated BIA report, ensuring validation and sign-off by the BCM Sponsor and the Head of Risk Management.


• Ensure completion and validation of risk assessment across all teams.


• Business Continuity Planning (BCP) and Crisis Communication:


• Ensure information contained in BCPs is in accordance with BC strategies/solutions available.


• Ensure that BCPs & Crisis Communication plans are tested in accordance with approved Operational Resilience Policy.

Risk Management Processes:

• Support the development of Risk Appetite (tolerance levels & escalation limits).


• Supervise the coordination of Key Risk Indicators dashboard to create early warnings.


• Provide a second opinion on the efficiency and completeness of the underwriting and reinsurance programs.


• Monitoring & Reporting Activities:

Risk Registers and Reporting:

• Quarterly collation of Risk Registers across all teams.


• Monthly reporting of action plans provided by the first line to the Head of Risk Management.


• Prepare and submit Quarterly/Annual NAICOM Returns.


• Business Impact Analysis (BIA) and Risk Reports:


• Conduct Annual BIA for all teams and collation.


• Quarterly Risk Report collation.


• Quarterly Risk Appetite Monitoring.


• Quarterly Liquidity monitoring.

Job Requirements

To be successful in the role, the candidates should meet the following requirements:

• Attention to detail, quick learner, and proactive in assuming responsibility.


• Strong analytical skills.


• Proficient in MS Word, Excel, and PowerPoint for creating engaging reports.


• Exceptional organizational skills for seamless multitasking.


• Effective interpersonal communication and relationship management.


• Robust problem-solving and creative decision-making skills.

Minimum Qualifications:

• Bachelor's degree or equivalent in a related discipline.


• Minimum of 5-8 years’ experience.


• Knowledge of the financial service sector/insurance business (an added advantage).


• Professional certifications in Risk, Financial Modeling, or Data Analytics (an added advantage).