Risk & Compliance Officer

Duties

Risk, Regulatory, Prudential & Compliance

• Conducts Compliance reviews by delivering against the Compliance Monitoring Plan across the company in line with regulatory & Group Monitoring standards and methodology, specifically planning, execution, reporting and record-keeping, to ensure sufficient coverage of material compliance risks
• Prepares management reports detailing the review findings as required and as per the Group Compliance reporting standards to enable effective risk management decision making
• Identifies and document the root cause of issues identified, with relevant business stakeholders, and recommend mitigation actions to be taken
• Documents and tracks the required mitigation actions to be taken, this includes logging the findings, action plans, timeframes, and roles and responsibilities
• Guides and support the implementation and closure of the mitigation action plans by obtaining and filing the required evidence to prove mitigation plans have been correctly implemented
• Provides timely communication on the results of monitoring reviews to Management/ Board, as and when the identified gaps are confirmed instead of raising these at later stages of the review
• Tracks and report on the progress of the compliance monitoring plan for the entity along with the embedded risk management function, in order to identify significant compliance breaches, exposures and potential areas of improvement
• Remain proficient and knowledgeable of best practice in the specialist field of Compliance Monitoring and provide the necessary recommendations for adaptation and improvement
• Implements the annual risk-based Compliance monitoring plan which strategically covers key Compliance risk exposures within a dedicated portfolio in line with the Group Compliance Monitoring Methodology
• Escalate high-risk findings to Line Manager to ensure timely mitigation and decision making
• Execute the Compliance Monitoring Reviews to ensure they are thematic and structural to deliver the required level of assurance within the agreed timelines
• Execute the Compliance Monitoring processes and activities, as per the compliance policies, applicable laws and regulations
• Execute Audit Delivery- The ability to plan, execute within agreed timelines and report on an audit or advisory review assignment following the Internal Audit in order to meet the audit objectives and give assurance to management on the Brokerage risk and control environment
• Review all communications originating from the company to the public domain to ensure compliance with the law and internal governance
• Attend Group Legal Meetings

Money Laundering & Terrorist Financing

• Stay abreast of money laundering and terrorist financing trends and typologies in order to utilise this information to create awareness around new modus operandi and to identify potential risks
• Develop and implement the AML & KYC regulatory & applicable Group policy covering typically strategy, policy, process, procedures, standards, objectives, metrics, reporting and governance structure in order to provide the assurance that business is undertaken in a compliant manner to avoid operational losses, fines, penalties or reputational damage
• Constantly refine the Policy to ensure that it adheres to the constantly changing legal and regulatory landscape. Changes in the regulatory landscape must be closely monitored (researched) to inform the Framework and advise the stakeholders accordingly
• Develop and maintain relationships with specialist risk areas e.g. operational risk, information security risk, financial crime risk management, etc (i.e. the entire Risk family), as well as key compliance-, business- and enabling function stakeholders across the Group
• Report implementation progress to the relevant committees and forums

Training

• Provide effective training, advisory and awareness to enhance the knowledge of the employees on the applicable compliance policies, compliance procedures and regulatory requirements on a continuous basis
• Provide recommendations and guidance to the leadership on developing remediation programs that ensure adherence to compliance policies, compliance procedures and regulatory requirements
• Liaises with the HR department, facilitating continuous training and awareness updates to all staff/stakeholders on Risk Management
• Researches and keeps abreast with emerging global trends and practices and ensures the knowledge is passed to all business managers

Information Gathering

• Capture all required information, throughout each stage of the monitoring process, as per the required data management processes, procedures and standards as set out by the adapted Group Compliance Data Model
• Deliver holistically on all the regulatory and internal reporting requirements. Inter alia, compile and disseminate statistics, dashboards, management information, etc. for the senior leadership team, governance committees and the Regulator
• Report implementation progress of the Governance & Compliance policies to the relevant committees and forums

Financial Management

• Strive to influence a continual reduction in costs within the area under control to ensure that service delivered remains cost-effective and efficient

Strategy

• Provide input into the development and maintenance of the business area's Compliance Monitoring Framework, which specifically reviews the adequacy and effectiveness of compliance controls to ensure adherence to material high-risk, applicable legislation, policies and standards and is aligned to the Group Monitoring methodology to provide reasonable assurance that the business areas are adequately complying with relevant Regulatory requirements

Risk Identification & Assessment

• Maintains accurate notes the context in which the Risk Management Policy (‘RMP’) is applied, including the business models and strategic thrust of operating units and service function
• Ensures completeness of the recording and analysis of events that could materially affect the risks facing the businesses
• Conduct risk assessment workshops and collates the risk registers for key risks
• Produces risk management reports for each operating unit and service function

Risk Mitigation & Monitoring

• Design and Implement ERM for the company in line with the group
• Advises management on prioritization of action to resolve risks that are mapped outside the acceptable risk tolerances
• Makes follow-ups on the planned risk response by management
• Provides advice to the process-owners on the design of practical management responses to the key various risks where necessary
• Conducts new product risk assessments
• Reviews pending / new regulations and identifies any potential impact upon the business strategies and operations and provides recommendations to process-owners
• Ensures adequacy of existing internal controls, risk management framework through continuous identification, measurement and reporting of risk positions
• Recommends guidelines for the development of supporting policies and procedures through continuous and on-going engagement with management

Risk Advisory Services

• Assist Diamond Seguros corporate clients to establish appropriate roles and responsibilities for managing risk, assigning clear accountability and authority for managing risks; establishing riskrelated competencies to manage risks; and obtaining mandate and commitment across the entire organization
• Initiates projects to address risks that are not adequately managed across the Group, including but not limited to, business continuity plans (BCP), disaster recovery planning (DRP), efficiency of resource allocation & utilization
• Provide advice on how to develop risk treatment plans; establishing appropriate risk reporting; identifying key metrics for risk monitoring; reviewing Enterprise Risk Management goals and implementation plan; and identifying opportunities for improvement
• Ensures proposed expenditures is reasonable, cost effective and within budget
• Carry out health & safety inspections and advise management on corrective measures

Technology & Architecture

• Identify opportunities for the automation of Compliance Monitoring processes by working with the Group Compliance Monitoring data analytics team to automate, enhance and simplify the compliance monitoring and review processes

Claims Legal Opinion

• Provide legal opinion to claims and provide support in the legal cases that requires involvement of attorney
• Training claims to draft repudiation letters
• Review repudiations letters
• Third party liability negotiations

Notes

• Only shortlisted applicants will be contacted