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Job Title:    Risk Officer

Organization: NIC Life Assurance Company Limited

Duty Station: Kampala, Uganda

Reports to: Manager Administration

About US:

NIC Holdings is one of the largest financial institutions in East Africa with a network of branches spread across the country, offering a full range of insurance products and services in Life and Non-Life insurance businesses and Financial Management. NIC Holdings has two subsidiaries which include NIC General Insurance Company Limited and NIC Life Assurance Company Limited.

Job Summary:   The Risk officer will be responsible for coordination of the company-wide application of ERM framework nm, advise Management on any potential risks that may expose the company to penalties, financial forfeiture and material loss.

Key Duties and Responsibilities:

• Conduct risk profiling and assist functional managers in updating risk registers.
• Conduct regular validation exercises for the Risk Control self-Assessments (RCSA)
• Identify and assess the risks associated with the organization’s current and proposed products, business-relationships and any changes to business operations.
• Assist in developing, review and update of the risk appetite framework for NIC life.
• Develop and implement risk mitigation and control measures.
• Monitor the progress of risk mitigation activities.
• Follow-up with management and provide a status report on implementation of Audit and regulatory recommendation.
• Provide an independent evaluation of the results of BCM tests conducted and establish mitigations for identified Business continuity gaps.
• Prepare and submit monthly and quarterly reports to the risk manager for review.
• Monitor compliance with internal policies, procedures and guidelines by performing regular and comprehensive risk assessment and testing; report the results on a regular basis.
• Develop and execute the compliance risk management plan.
• Conduct internal reviews of policy and compliance to standards.
• Manage and report compliance breaches and exposures. Ensure corrective actions are taken by the process owners.
• Compile and submit compliance statutory and supervisory reports to the relevant regulatory bodies.
• Promote a compliance culture within the business and take responsibility for training staff.
• Enhance and promote a compliance culture through awareness activities.

Key Result Areas: The responsibility includes managing the risks associated with the organization employees, clients, reputation, assets and interests of stakeholders. As such S/he will interface with a number of activities and processes that potentially have effects that can result into:

• Enterprise/Operational risks
• Information security risks and cyber threats
• Business continuity risks
• Corporate governance risks
• Regulatory and legal risks
• Technology risks
• Financial risks
• Reputational damage

Qualifications, Skills and Experience:

• The applicant must hold a Bachelor’s degree in Accounting, Finance, or any related business field
• Any certification in risk management is an Added advantage.
• One to two years of experience.
• Ability to produce results under minimal supervision.
• Problem-solving and decision-making abilities
• Analytical skills and a good eye for detail
• Planning and organizational skills
• Good communication and presentation skills
• Numerical skills
• Ability to understand broad business issues.
• Ability to run workshops and trainings.

How to Apply:

If you have the aforementioned professional and academic qualifications and you are ready to execute the above mandate, kindly send your resume to the email address below indicating on the subject of your email the job title. For example: Ref: Application for Risk Officer.

Strictly apply through email: vacancy@nic.co.ug

Deadline: 25th January 2024 by 5PM.

NB: Please note that only short-listed candidates will be contacted.

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