Risk and Compliance Officer at Kenya Orient Insurance Limited
JOB PURPOSE
The role is responsible for supporting the identification,
assessment, mitigation, reporting, and monitoring of enterprise risks,
including compliance with Anti-Money Laundering (AML), Combating the Financing
of Terrorism (CFT), and Business Continuity Plans (BCP). It ensures adherence
to regulatory requirements, corporate governance standards, and industry best
practices.
KEY TASKS, DUTIES AND RESPONSIBILITIES
- Co-develop
and maintain the company’s enterprise risk management strategy.
- Conduct
comprehensive risk assessments across business and functional areas in
line with the risk management framework.
- Develop
and implement systems, policies, and procedures for identifying,
collecting, and analyzing risk-related information.
- Evaluate
the adequacy and effectiveness of controls to ensure identified risks are
appropriately mitigated at departmental and process levels.
- Maintain
risk registers and assist management in tracking progress on risk
mitigation action plans.
- Collaborate
with departments to identify, quantify, mitigate, and monitor operational
and financial risks.
- Monitor
risks and communicate relevant information to stakeholders to ensure the
effectiveness of the enterprise risk management strategy.
- Review
new and ongoing products to ensure they undergo comprehensive risk
assessments before implementation.
- Facilitate
awareness and training programs on risk management, controls, and
compliance activities.
- Prepare
monthly, quarterly, and ad hoc risk and compliance reports as required.
- Coordinate
Anti-Money Laundering (AML), Data Protection, and other regulatory
compliance activities.
- Implement
and maintain effective internal controls to prevent and detect compliance
violations within insurance operations.
- Ensure
business units comply with applicable regulations through continuous
monitoring and review of legislation, internal policies, and controls.
- Identify,
assess, control, and enforce compliance risk management across the
organization.
- Detect,
report, and follow up on suspicious transactions.
KEY COMPETENCIES
- In-depth
knowledge of the financial services industry.
- Strong
analytical, organizational, and problem-solving skills.
- Personal
attributes: integrity, dependability, initiative, results-orientation,
creativity, and
- strong
interpersonal skills.
- Effective
verbal and written communication skills.
- Proactive
in staying updated on regulatory developments.
- Knowledge
of automation in risk management.
- Competence
in data analytics.
REQUIREMENTS
- Bachelor’s
degree in Insurance, Finance, Accounting, Risk, Compliance, Law, or a
related field.
- Risk
certification or equivalent professional qualification.
- Membership
in a relevant professional body is an added advantage.
- 3–5
years of experience in risk management or compliance.