Risk & Compliance Officer at MUA Insurance Rwanda Ltd: Deadline: 29-12-2022

Job purpose

The Risk & Compliance Officer will be responsible for: 1) the direction and coordination of the company-wide application of risk management at MUA Insurance (Rwanda) Limited; 2) ensuring that the principles and requirements for managing risks are consistently adopted and applied throughout the Company; and 3) to continually update the risk management framework to assist the Company in its realization of business objectives and continual development.

Duties and responsibilities

1. Oversee the Company-wide risk management strategy, aligning all risk management and associated internal control activities to support achievement of business objectives.
2. Facilitate the integration of risk management policy and strategy into all department’s strategies and activities.
3. Perform risk assessments and evaluations: Evaluating the company’s previous Internal and External audit findings and handling of risks and comparing against measures taken to mitigate the identified risks.
4. Perform compliance reviews of the various departments, in line with set functional policy procedures
5. Prepare reports on risk and internal controls tailored to the relevant audience. (Informing the management 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)
6. Monitor and Ensure compliance with Anti Money Laundering requirements, with regards KYC procedures, reporting, restricted entities, suspicious transactions, and other requirements as specified in the Anti-money Laundering regulations.
7. Maintain trackers for internal and external audit findings and update them monthly with progress made on the resolution of the identified issues.
8. Coordinate with Group Risk and Compliance team, and participates in risk evaluations exercises and meetings
9. Monitor correspondences with Authorities, including BNR, RRA, etc., and ensure responses are appropriately prepared and filed by the responsible functions within the required timelines.
10. Prepare & implement regular long-term risk management systems monitoring and controls for the company`s activities and prepare attendant reports.
11. Carryout planned and ad-hoc risk reviews on selected departments and make recommendations for corrective actions.
12. Prepare draft reports for submission to management and the board.
13. Promote and sustain a sound risk management culture within the company.
14. Coordinate and interact with staff, internal and external auditors, and regulators, as needed, and trains new staff where required.
15. Participate in development, implementation, and maintenance of policies

responsibilities

      Line Support and Knowledge sharing

1. Support senior management with any aspect of risk management and oversee key risk management training initiatives including key senior management training and employee induction programs.
2. Facilitate risk management knowledge and best practice sharing across the Company, with reference to external best practice where appropriate.
3. Improve/inculcate risk awareness culture across the organisation.

                 Qualifications, Skills/Experience & Personal Attributes 

1. Relevant degree and professional Diploma in the field of Risk management.
2. Minimum of 4 years’ experience in the financial services sector.
3. Excellent communication skills, written and verbal.
4. Computer Literacy
5. Risk Analysis & Assessment.
6. Ability to work under tight deadlines without compromising quality.
7. Demonstrable team leadership and good organization skills.
8. Maturity & Confidentiality.

Working conditions

The Job’s responsibilities sometimes may require working evenings and weekends, sometimes with little

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