Risk Officer

Role Objective

The Risk Officer will support the Head of Risk management in effectively maintaining the overall adequacy and effectiveness of the risk management techniques/ processes within DBAC. The incumbent will assist in ensuring independent and objective identification, assessment, measurement, monitoring and control/mitigation of risks and in implementation/maintenance of Business Continuity programs. The incumbent will also provide necessary operational/administrative support to the Head of Risk management, as and when assigned.

Detailed Roles and Responsibilities:

OPERATIONAL

• Perform all activities, as assigned by the Head of Risk Management, in compliance with applicable regulations, and internal policies/procedures.
• Assist in the development and implementation of robust and uniform Risk Management framework for the organization, including processes, tools and systems, to identify, assess, measure, manage, monitor and reporting of risks.
• Ensure prompt maintenance of DBAC’s KRIs and Risk Register, with current/updated records based on risk identification exercises.
• Assist in the identification and evaluation of business areas' risks, to facilitate the development and implementation of risk mitigation strategies.
• Participate in the review of organization-wide policies / procedures by identifying control weaknesses or process gaps and provide necessary recommendations for corrective measures.
• Assist in the review and update of Risk Management policies and procedures, and in the process for developing risk limits and approval matrix.
• Identify, prepare and provide high frequency and critical risk incidents in the risk reporting templates/dashboards, as assigned.
• Assist the Head of Risk Management in Risk Control Self-Assessment (RCSA) process, including but not limited to identification, assessment, management and reporting of operational risks and controls across various units in DBAC.
• Assist in the Own Risk and Solvency Assessment (ORSA) process and in development of Annual ORSA Report.
• Perform periodic control assessments of business units, including 3rd parties.
• Recommend, and perform constant follow-up/ monitoring of control measures suggested/addressed to control gaps identified.
• Assist the Head of Risk Management in strengthening the risk and control environment in the organization through adequate governance and reporting mechanism.
• Assist in ensuring that the work of internal departments/units are least impacted due to unforeseen disaster/crises events through the establishment and implementation of a robust Business Continuity Management (BCM) program/plan.
• Develop DR documentation including business impact analysis, risk assessment, recovery planning, identifying the test requirements and coordinating the BCMS drills, and maintain system of record data for audit/regulatory purposes.
• Support the Head of Risk Management in providing timely and accurate Risk related information/reports to the external and internal auditors and the Compliance function, and Senior Management/Management Committees.
• Assist in assessment of and highlight inherent risks across various Business units within the organization, in consistent with the Credit policies and regulatory framework.
• Maintain an understanding of all pertinent regulations as well as leading practices pertaining to the overall operations.
• Build and maintain strong and effective relationship with all other related units to achieve the section's goals/objectives.
• Maintain highest standards of confidentiality, professional conduct, ethics and integrity in the provision of services.
• In addition, assist the Head of Risk Management in execution of Company Secretarial functions, including but not limited to arrangement of logistics, Board reporting and related administrative tasks, as assigned.

Requirements:

1. Educational Qualifications: University graduate with a degree in Business or Banking or Finance or any other related discipline.
2. Experience: 3 - 5 years of related experience as in Risk Analyst in insurance sector

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