The role of Risk Officer is to communicate risk policies and processes for the organization. To provide hands-on development of risk models involving market, credit, environmental, technological and operational risk, assure controls are operating effectively, and provide research and analytical support. The Risk Officer must have excellent quantitative and analytical skills, along with the ability to apply those skills across a variety of business processes.
- Designing and implementing an overall risk management process for the organization, which includes an analysis of the financial impact on the company when risks occur.
- Performing a risk assessment: Analyzing current risks and identifying potential risks that are affecting the company.
- Performing a risk evaluation: Evaluating the company’s previous handling of risks, and comparing potential risks with criteria set out by the company such as costs and legal requirements
- Establishing the level of risk the company are willing to take
- Preparing risk management and insurance budgets
- Risk reporting tailored to the relevant audience. (Educating the board of directors about the most significant risks to the business; ensuring business heads understand the risks that might affect their departments; ensuring individuals understand their own accountability for individual risks)
- Explaining the external risk posed by corporate governance to stakeholders
- Creating business continuity plans to limit risks.
- Recommends and implements risk management solutions such as insurance, safety and security policies, operational policies, regulatory, business continuity plans, or recovery measures.
- Implementing health and safety measures, and purchasing insurance.
- Conducts risk assessments, collecting and analyzing documentation, statistics, reports, and market trends.
- Conducting policy and compliance audits, which will include liaising with internal and external auditors
- Maintaining records of insurance policies and claim
- Reviewing any new major contracts or internal business proposals
- Building risk awareness amongst staff by providing support and training within the company
- Establishes policies and procedures to identify and address risks in the organizations services and departments; makes recommendations and implements modifications and improvements.
- Reviews and analyzes metrics and data such as cash flow, inventory, breakage, and employee
- activity that could uncover fraudulent behavior.
- Drafts and presents risk reports and proposals to executive leadership and senior management.
- Performs other duties as directed.
- Thorough understanding of policies and best practices of risk management.
- Excellent verbal and written communication skills.
- Excellent mathematical and critical thinking skills.
- Excellent analytical and problem-solving skills.
- Excellent organizational skills and attention to detail.
- Strong supervisory and leadership skills.
- Proficient with Microsoft Office Suite or related software to prepare reports and policies.
- Conversant with SAP ERP system
Education and Experience:
- Bachelor’s degree in Risk Management, Management or Business Studies, Finance or Economics, Science, Statistics, Engineering, Law or related field required.
- Postgraduate degrees will be an added advantage.
- At least 3 years of related experience preferred.