Head of Risk

at  Discovery Ltd

Business Unit: Discovery Health
Function: Risk Management
Date: 20 Sep 2024
Discovery – Health Finance
Clinical Head of Risk

EDUCATION AND EXPERIENCE

• B Comm degree with Risk Management or Internal Audit qualification.
• 10+ years’ experience in an Enterprise Risk Management environment.
• Relevant legislative knowledge, i.e., Medical Schemes Act, PoPI, etc.
• Previous experience in developing and improving ERM at a senior level.
• Experience of leading teams of professional staff.

Advantageous:

• Postgraduate risk qualification or equivalent.

JOB PURPOSE

The successful incumbent will lead and manage the risk function, devising and implementing a comprehensive risk management strategy to protect business objectives. The role requires developing strong relationships with business leadership and excellent communication skills for interactions with C-Suite, Risk Committees, and regulatory bodies. The candidate will manage the first and second line of defence Group Risk Management team for the entire Discovery Health portfolio. In addition, Head of Risk will ensure effective co-ordination between external audit and business.

PRINCIPAL ACCOUNTABILITIES

• Risk Strategy and Management: Develop and implement Discovery Health’s risk strategy in alignment with the Discovery Group’s framework. Oversee the establishment and maintenance of the principal risk profile, ensuring comprehensive risk management across all categories.
• Team Leadership: Manage the Group Risk Team, providing leadership in the implementation and review of the Enterprise Risk Management (ERM) Policy and Framework. Ensure effective coordination of risk-related activities and audits.
• Risk Identification and Mitigation: Identify, assess, manage, and report on risks. Develop and implement mitigation strategies and monitor risk mitigation plans regularly. Ensure risks are managed within agreed appetite and tolerance levels.
• Stakeholder Engagement: Build strong relationships with business leadership and stakeholders. Provide analysis and recommendations on enterprise risks to senior management, Risk and Compliance Committees, and the Board. Ensure timely and relevant risk reporting.
• ERM Integration: Link organizational strategy with ERM by incorporating risk considerations into strategic planning. Lead the Combined Assurance program and enhance the risk culture within Discovery Health.
• Performance Monitoring: Achieve performance targets set by the CFO & Group CRO. Ensure the effective embedding of the ERM Framework and risk management culture. Proactively partner with business units to identify and manage risks.
• Audit Coordination: Effectively coordinate the various Medical Scheme operational external audits to ensure smooth and effective operational audits are conducted.
• Risk Strategy and Management: Develop and implement Discovery Health’s risk strategy in alignment with the Discovery Group’s framework. Oversee the establishment and maintenance of the principal risk profile, ensuring comprehensive risk management across all categories.
• Team Leadership: Manage the Group Risk Team, providing leadership in the implementation and review of the Enterprise Risk Management (ERM) Policy and Framework. Ensure effective coordination of risk-related activities and audits.
• Risk Identification and Mitigation: Identify, assess, manage, and report on risks. Develop and implement mitigation strategies and monitor risk mitigation plans regularly. Ensure risks are managed within agreed appetite and tolerance levels.