Risk & Compliance Manager at Prime Life Insurance Limited: (Deadline 16 October 2023)

Risk & Compliance Manager at Prime Life Insurance Limited: (Deadline 16 October 2023)

JOB AVAILABLE AT PRIME LIFE INSURANCE Ltd

1. Background

Prime Life Insurance Ltd is an Insurance Company, established in 1995 by Rwandan investors, a licensed general and life insurance company authorized by the National Bank of Rwanda (BNR). The Company is seeking to recruit a highly skilled, self- motivated, and experienced person to fill the following posts:

Risk & Compliance Manager job at Prime Life Insurance Ltd

Key roles & responsibilities

Under the supervision of Chief Executive Officer and the Risk, Ethics, Compliance and Investment Committee; the Risk & Compliance Manager shall have the following key roles and responsibilities:

• Use suitable processes and tools for identifying, assessing, monitoring, managing, and reporting on risks;
• Regular reviews of the risk management system and implementation of corrective or additional measures if necessary;
• Evaluate the company’s capacity to absorb risk given the nature, probability, and impact of identified risks;
• Identify and manage risks arising from the internal and external environments;
• Develop a risk register and put in place a management measure to mitigate those risks identified;
• Identify, assess, monitor, and control foreseeable material risks at both an individual and aggregate level;
• Communicate to the management and Board of Directors the probability, impact and time horizon of such risks identified;
• Maintain an aggregate view of the company’s risk profile;
  • Assess the key compliance risks and steps being taken to address them;
• Assess how various business units or departments are performing against compliance standards;
• Identify compliance issues involving management or persons with key responsibilities within the insurer;
• Follow up on material instances of non-compliance and any associated investigations;
• Follow up on fines or disciplinary actions taken by the Central Bank or any other regulatory authority in respect of the insurer or any employee.

 Required Skills & Qualities

• Excellent Organizational Skills
• Proficient Communication Skills
• Effective Problem-solving
• Assessment & Interpretation
• Critical Thinking Ability
• Creativity
• Integrity
• Strong People Skills
• Up-to-date Knowledge of Business technology and IT
• Sound Understanding of Regulatory Guidelines and other Policies
• Fluent in English, French, and Kinyarwanda.

 Education & Experience

• bachelor’s degree in risk management, actuarial science, finance, accounting, economics or related field and any of professional qualification certificate issued by Association of Chartered Certified Accountants (ACCA) or Certified Public Accountant (CPA) or a risk analyst certificate obtained from a professional body recognized by the supervisory authority; and
• five years working experience in risk management in insurance or reinsurance companies or any other financial institutions, recognized audit and quality assurance firms, of which three years have been passed in managerial position
• a diploma in insurance issued by Chartered Insurance Institute (UK) or by a similar professional body recognized by the Supervisory Authority or any other professional certificate in the area of compliance will be an added value

Job application procedure

• Application letter addressed to Chief Executive Officer,
• Recent Curriculum Vitae (CV) with proven work Experience,
• Education certificates,
• A copy of National Identification;
• Three referees.

Please send your application on life.recruitment@prime.rw in one document.

The deadline for submitting applications is October 16^th, 2023 at 5 pm local time.