Risk & Compliance Officer at the African Reinsurance Corporation (Africa Re)

The African Reinsurance Corporation (Africa Re) is the leading African reinsurance company with headquarters in Lagos (Nigeria). Africa Re has six regional offices: Casablanca (Morocco), Abidjan (Côte d’Ivoire), Nairobi (Kenya), Lagos (Nigeria), Cairo (Egypt) and Ebene (Mauritius). The Corporation equally has two subsidiaries: African Reinsurance Corporation South Africa Ltd in Johannesburg (South Africa), Africa Retakaful in Cairo (Egypt) and one Local Office in Addis Ababa (Ethiopia).

Africa Re has a broad-based shareholding comprising 41 African member States, the African Development Bank (AfDB), 114 African insurance and reinsurance companies and three non-regional shareholders, including leading global insurers and reinsurers. The Financial Strength and Credit Rating of Africa Re is A by A.M. Best and A – by Standard & Poor’s.

We are recruiting to fill the position below:

Job Title: Risk & Compliance Officer

Location: Lagos, Nigeria

Responsibilities

• The successful candidate shall support the Department primarily in the Compliance and Risk Management processes, and any other tasks as delegated to them from time to time.

Duties / Job Details
The main duties of the Risk & Compliance Officer shall comprise the following, amongst others:

• Ensure the Corporation has adequate policies in place for good governance and compliance with international best practices, e.g. AML/CTF, Fraud, Whistleblowing, ESG, etc
• Liaise with business units to obtain KYC information on existing and new clients as well as performing due diligence on such clients.
• Regularly review and monitor the Corporation’s internal policies to ensure there are no gaps in approach
• Respond to queries from internal departments relating to compliance matters
• Support in enterprise-wide risk and compliance policy training, awareness and communication
• Monitor risk exposures and compliance with risk policies
• Support the Risk & Compliance department in the periodic risk management process, including:
• Liaise with risk champions to regularly collect risk and financial data and perform analyses on such data
• Update and manage the Corporation’s risk software
• Support in analyzing data and assumptions to be used in risk and capital modelling
• Manage business continuity plans
• Generate and prepare risk reports
• Support in coordinating rating exercises

Qualifications and Professional Experience
Applicants shall be holders of:

• First University Degree in relevant fields (Finance, Accounting, Risk Management, Actuarial Science, Law);
• 4-5 Years of experience in a similar role;
• Advanced knowledge and practical experience with Compliance and Risk Management;
• Relevant work experience in a reputable Insurance / Reinsurance organisation at similar level is required;
• Relevant professional qualifications in Risk Management, Actuarials, Compliance Management, and a strong background in Law will be added advantage

Applicants must also be:

• Fluent in English; a working knowledge of French will be an added advantage;
• Nationals of a members State of Africa Re;
• Not more than 35 years old.

Main Competencies Required for this Position:

• Sound knowledge of generally applicable compliance issues and regulations faced by financial service providers across Africa
• Sound knowledge in data analysis and interpretation of financial statements;
• Excellent communication and presentation skills, as well as proven writing and reporting skills;
• Very high numerical and analytical skills;
• Sound knowledge of the financial services industry;
• Ability to multitask and learnt fast;
• Very high integrity and good sense of responsibility;
• Good interpersonal skills;
• Advanced level of proficiency in Microsoft Excel tool and excellent skills in other MS Office applications (Word, Access, PowerPoint).

Salary & Benefits
The successful candidate shall have the following benefits:

• Competitive Basic Salary on the Corporation’s SS Grade Level
• Variable pay (Annual Performance Bonus)
• Joint contribution to the Provident Fund (7% of the basic salary paid by staff and 14% by the employer)
• Child education subsidy for each child up to 26 years (maximum 4 children)
• Medical cover for staff and recognized dependents;
• Transport Allowance
• Housing Allowance
• Inflation Adjustment allowance.

Application Closing Date
8th March, 2022.

How to Apply
Interested and qualified candidates should:
Click here to apply online

Note: The Company reserves the right to appoint at the advertised level or at any other level that may suit the profile, qualifications and experience of the successful candidate.