Chief Risk Officer

at  MS First Capital Insurance Limited

Job responsibilities

• Ensuring delivery of risk & compliance services to internal stakeholders in line with the agreed standards.
• Monitoring and reporting on risks and regulatory environment to assist the management in taking appropriate strategic decisions.
• Promote a risk and compliance culture within the company.
• Ensuring compliance with all policies relevant to risk & compliance function.
• Supporting Heads of Departments (HODs) in conducting the required AML/CFT checks and implementation of sanctions.
• Making continuous improvements to risk & compliance processes to enhance the overall efficiency of the department. Contributing to the enhancement of system capabilities.
• Managing the Own Risk and Solvency Assessment (“ORSA”) process in accordance with the regulations.
• Maintaining and testing of the Business Continuity Plan including IT Disaster Recovery.
• Overseeing the implementation of Information Security policy.
• Working with the HODs in conducting assessment, due diligence and review of outsourcing contracts.
• Investigating instances of Whistleblowing/ Complaint.
• Managing all MAS related matters, ensuring timely filing and accuracy of returns and response to queries, consultations, and surveys.
• Managing the governance processes relating to the ERM Committee, Risk Management Committee and Board of Directors.
• Making meaningful contribution to the deliberations in the committee(s) of which one is a member/invitee.
• Ensuring all risk reports are accurate and are produced within the prescribed timeframes.
• Reviewing and updating the risk appetite statement, risk register and all risk policies.
• Ensuring proper documentation and reporting of controls in Internal Control over Financial Reporting (ICOFR).
• Ensuring that the HODs concerned address all the deficiencies identified in the ICP audit.

Job requirements

• At least 15 years of experience in non-life insurance / reinsurance company with at least 8 years in ERM / compliance role.
• Bachelor’s degree
• Professional qualification in insurance / risk management
• Ability to understand/interpret accounting standards, regulations and statutes.

• Ensuring delivery of risk & compliance services to internal stakeholders in line with the agreed standards.
• Monitoring and reporting on risks and regulatory environment to assist the management in taking appropriate strategic decisions.
• Promote a risk and compliance culture within the company.
• Ensuring compliance with all policies relevant to risk & compliance function.
• Supporting Heads of Departments (HODs) in conducting the required AML/CFT checks and implementation of sanctions.
• Making continuous improvements to risk & compliance processes to enhance the overall efficiency of the department. Contributing to the enhancement of system capabilities.
• Managing the Own Risk and Solvency Assessment (“ORSA”) process in accordance with the regulations.
• Maintaining and testing of the Business Continuity Plan including IT Disaster Recovery.
• Overseeing the implementation of Information Security policy.
• Working with the HODs in conducting assessment, due diligence and review of outsourcing contracts.
• Investigating instances of Whistleblowing/ Complaint.
• Managing all MAS related matters, ensuring timely filing and accuracy of returns and response to queries, consultations, and surveys.
• Managing the governance processes relating to the ERM Committee, Risk Management Committee and Board of Directors.
• Making meaningful contribution to the deliberations in the committee(s) of which one is a member/invitee.
• Ensuring all risk reports are accurate and are produced within the prescribed timeframes.
• Reviewing and updating the risk appetite statement, risk register and all risk policies.
• Ensuring proper documentation and reporting of controls in Internal Control over Financial Reporting (ICOFR).
• Ensuring that the HODs concerned address all the deficiencies identified in the ICP audit