Risk Analyst

Let's Write Africa's Story Together!

Old Mutual is a firm believer in the African opportunity and our diverse talent reflects this.

Job Description

The purpose of the Risk Analyst role is to establish and maintain mechanisms and systems of internal control to assist in meeting governance and risk management obligations and to promote and sustain a sound risk culture. This includes ensuring risk management implications are integrated into material strategic, financial, and operational decisions.

Responsibilities

Risk Management strategy, frameworks, policies, and process implementation

• Assist management in the design, development, and implementation of risk management frameworks to enable an effective risk and control environment.

• Develop and maintain the risk management processes that sets out the key structure for risk management from planning to reporting.

• Communicate key aspects of the risk management policies or charters and manuals to key stakeholders

• Develop or review, advise and create awareness of role and responsibility descriptions

• Advise management on risk management frameworks

 Risk management/assurance plan development processes

• Develop risk management/assurance plans in accordance with accepted standards and practices to ensure sufficient coverage of critical business unit processes

• Conduct an environmental scan and incorporate findings (maturity, drivers, culture, audit profile) in the risk management plan

• Provide input for the prioritisation of the development of risk management plans

• Facilitate and/ or effect the periodic review and update of risk management plans

• Communicate and agree with key stakeholder’s role players - roles and responsibilities, assessment process, reporting purposes and timing

Risk profile development and maintenance processes

• Identify and evaluate any key internal and external influencing factors that may shape the risk profile including emerging risks

• Identify, categorise, assess, and prioritise the applicable risks that could potentially impact the organisation.

• Coordinate the performance of root cause analysis to ensure that agreed actions are sufficient to fully mitigate the risks

• Facilitate the implementation of controls documented (risk treatment) in the risk management plans

• Communicate the risk profile to relevant stakeholders

• Facilitate periodic review of the risk register/profile

• Assist in the design, development and delivery of governance and risk awareness and training interventions

Monitor, review and improve risk management activities and processes

• Develop and present a risk management monitoring plan to management and governance stakeholders for approval

• Implement appropriate monitoring methodologies

• Define risk management stakeholder roles and responsibilities in business relating to risk monitoring activities

• Provide risk management monitoring advisory services within the business

• Perform risk control self-assessments (RCSA) for the business unit to validate the effectiveness of controls within the business unit.

• Monitor the implementation of remedial actions in place to mitigate control deficiencies identified within the organisation

• Monitoring operations to ensure that they meet standards operating procedures

• Recommending adjustments to the processes, through testing of the processes

• Assist in the overall improvement of the control environment through risk assurance activities in alignment with the enterprise risk methodology, governance, and objectives delivery

Risk management reporting processes

• Determine the governance requirements relating to risk reporting

• Determine the risk reporting requirements to stakeholders in line with the enterprise risk methodology and other organisation requirements

• Implement and maintain a risk reporting process

• Maintain and update all the relevant risk information (risk descriptions, management actions due dates and controls) on the risk management system in line with the enterprise risk management methodology

• Use business knowledge to develop and compile high quality reports with observations which are insightful, highlight key point and are in the appropriate format

Stakeholder engagements

• Coordinate communication channels and liaison with business unit stakeholders and assurance stakeholders e.g., second line stakeholders

• Improve overall effectiveness of the risk and compliance function objectives by ensuring increased collaboration between all team members and business stakeholders.

• Draft procedures to address the management of the relationship with risk management stakeholders (internal and external)

• Implement processes to manage relationships with business unit stakeholders and assurance stakeholders.

• Present effectively at stakeholder meetings and Risk forums by sharing knowledge and information, including methodology, standards, changes, and new developments, with business stakeholders on an ongoing basis.

Experience, knowledge and skills required:

Qualifications

• Risk Management or Auditing Degree

• Postgraduate Diploma/ Honours degree in Risk Management or related field (advantage)

• Member of the Institute of Risk Management South Africa (IRMSA) (advantage)   

• 1 - 3 years relevant experience in a risk management role, in a financial institution and ideally in Non-life Insurance, coupled with operational non-life insurance experience

Technical Skills & Knowledge

• In depth knowledge and understanding of risk management processes, policies, guidelines, assessments, and legislations

• Understanding of the overall dynamics of the insurance and financial services industries

• Report writing and presentation skills

• Proficient in Microsoft products and CURA system

• Service and delivery orientated

• Attention to detail

• Analytical thinking

• Professional attitude and approach

• Strong client orientation

• Teamwork

The Recruitment Process:

• TA Interview: This will be a discussion with a member of the Talent Acquisition Team to give you an understanding of our business, our culture & values and more context on the role. It will also allow us the opportunity to get to know you more and ensure OMI can meet your career aspirations.

• Panel Interview: This will be with 2 members of the Senior Leadership of the Hiring Team and 1 member of the HC Leadership Team.

• Technical & Psychometric Assessments: These will depend on the role and will sometimes happen concurrently with Vetting through an external service provider & Internal Verification.

• Final Feedback.

All About OMI:

https://www.oldmutual.co.za/about/old-mutual-insure/

https://www.linkedin.com/posts/old-mutual-insure_i-work-at-old-mutual-insure-of-course-activity-7161674472469524483-w0j6?utm_source=share&utm_medium=member_desktop

Please note that, unfortunately, we cannot accept any applications after the closing date

Skills

Business Risks, Risk Awareness, Risk Management, Risk Monitoring, Risk Reporting

Competencies

Business Insight

Communicates Effectively

Courage

Ensures Accountability

Financial Acumen

Instills Trust

Manages Complexity

Optimizes Work Processes

Education

Bachelor of Commerce (BCom): Risk Management (Required)

Closing Date

16 November 2025 , 23:59

The appointment will be made from the designated group in line with the Employment Equity Plan of Old Mutual South Africa and the specific business unit in question.

The Old Mutual Story!