Senior Risk Analyst

2 weeks ago

Johannesburg, Gauteng, South Africa IT Ridge Technologies Full time

The purpose of this role is to assist the Head of Risk in developing and maintaining an effective risk management framework for the group that includes Enterprise Risk Management, Model development and validations, and investment portfolio risk assessment and reporting, coordinate the ORSA process and reporting process.

KEY ACCOUNTABILITIES, MEASURES & INTERFACES

Enterprise Risk Management

  • Responsible for data collection for ERM purposes
  • Responsible for identification, development and maintenance of key risk indicators
  • Responsible for development of risk appetite for key risk indicators
  • Responsible for reporting and monitoring of key risk indicators
  • Responsible for risk aggregation within the group
  • Contribute to the implementation of an appropriate suite of key risk indicators suitable for Underwriting portfolio activities for continuous monitoring and reporting to Executive Management and the Board
  • Responsible for monitoring and reporting of Risk Assessment for outsourced functions
  • Conduct Risk and Control Selfassessment

Investment Portfolio Activities (Market, Credit. Operational and Liquidity Risk)

  • Contribute to the development of an appropriate risk monitoring program for the investment portfolio activities.
  • Responsible for executing the risk monitoring program for the investment portfolio activities.
  • Contribute to the development of an appropriate suite of key risk indicators suitable for Investment portfolio activities for
continuous monitoring and reporting to Executive Management and the Board.

  • Contribute to the development of an effective methodology for ensuring that risks (in connection with Investment portfolio activities) are identified, recorded and appropriately escalated, with all required mitigating actions subsequently completed.
  • Responsible for monitoring compliance with risk policies and procedures as well ensuring that risk exposures are appropriately
identified, reported and controlled

  • Responsible for monitoring that all the required risk policies, procedures and operating activities are fit for purpose.
  • Responsible for contributing material content to related presentation materials on risks associated with Investment portfolio activities for Asset Managers, Investment Consultant, Executive Management and the Board.
  • Contribute to the development and review of the ALM and Capital Management policies
  • Contribute to the development and maintenance of the Contingency Funding Plan

ORSA Process (forecasting, stress and scenario testing, capital adequacy analysis)

  • Responsible for coordinating, running and participating in wide forecasting, stress testing, and capital adequacy analysis to support the development of the risk appetite as well as performing and incorporating capital related analytics and requirements for the ORSA report
  • Contribute towards the analysis of stress test results and formulation of recommendations to Executive Management and the Board on risk appetite, capital optimization strategies and operating and contingent capital plans
  • Contribute to the production and maintenance of the ORSA annual report, quarterly reporting, and ad hoc reporting needs
  • Responsible for ongoing monitoring, review, assessment and escalation of regulatory changes that may affect the ORSA policy, processes and procedure
  • Establish a forwardlooking assessment of the risk profile and financial position of the Corporation, including the conducting of regular stress testing and scenario analyses as defined in GOI 3.1 (Own Risk and Solvency Assessment (ORSA) for Insurers), against the risk appetite and risk limits of the Corporation

Model Validation & Modelling

  • Responsible for the design and maintenance of effective processes and procedures for the validation of the ALM, Premium Pricing, Reserving Model and Economic Capital model
  • Responsible for the development and improvement of the model validation policy in consultation with the Actuary
  • Responsible for the development of a stress test governance framework including enhancing model risk management processes in consultation with the Actuarial unit
  • Develop a model to independently establish a forwardlooking assessment of the risk profile and financial position of the Corporation, including the conducting of regular stress testing and scenario analyses as defined in GOI 3.1 (Own Risk and Solvency Assessment (ORSA) for Insurers), against the risk appetite and risk limits of the Corporation.

QUALIFICATIONS & EXPERIENCE

  • Honours degree in Economics, Actuarial Science, Statistics, Finance, Engineering or Mathematics is a requirement.
  • At least 5 years' experience in market risk, stress testing, PD and LGD credit models, loss forecasting and economic capital.
  • Experience in regulatory capital, economic capital and capital adequacy assessment.
  • Familiarity with ORSA and/or ICAAP
  • Relevant independent research project or thesis is beneficial
  • Completion of or progression

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