Chief Risk Officer at African Trade Insurance

ATI provides political risk and trade credit risk insurance products with the objective of reducing the business risk and cost of doing business in Africa. Our main goal is to help increase investments into our African member countries and two-way trade flows between Africa and the world. We facilitate exports, foreign direct investment into and trade flows within the continent. ATI was launched in 2001 with the financial and technical support of the World Bank and the backing of seven African countries. The African Development Bank recently joined as shareholder and partner by funding countries to join ATI. Since 2003, we have supported over $25 billion worth of trade and investments across the continent, secured an investment grade rating of ‘A’ from Standard & Poor’s, and expanded membership with plans to attract even more African member countries and international financial institutions in the near term.

Summary

The Chief Risk Officer is a business supportive and risk disciplined individual who provides oversight to the enterprise-wide risk management (ERM) strategy and framework that effectively translates the risk appetite framework into informed decision-making practices that support ATI s unique business model and strategic plan.

This Role Reports to the Chief Executive Officer.

Role Objective

The main purpose of this position is to ensure that the organization is in complete compliance with its own regulations and guidelines. The CRO is also responsible for risk mitigation, internal investigations, information on security matters and development of risk analytics. The position facilitates and monitors ERM of the organization across all levels and functions of ATI.

Key Accountabilities

1. Oversee and develop comprehensive policies, guidelines and processes for assessing, identifying, monitoring, effectively managing and reporting pertinent business risks that could interfere with the organization’s core purpose and ability to grow and develop its business.


2. Monitor and report on adherence to and consistency of strategic initiatives with Board-approved risk appetite framework, risk tolerances and risk profile.


3. Develop and maintain a trustworthy, respectful working relationship with the Chief Executive Officer, Audit Committee of the Board of Directors, Board Risk Committee and the Board of Directors as a whole.


4. Implement and maintain a sound enterprise-wide Integrated Risk and Regulatory management governance framework.


5. Oversee the risk management framework including credit, market, operational and ethics and regulatory & compliance risk, measuring risk and providing quantitative analytical support to the lines of business in risk measurement, modeling and reporting.


6. Oversee and manage Anti-Money Laundering/Counter Terrorist Financing control activity in all relevant business areas for the purposes of establishing a reasonable threshold level of control consistency in the organization.


7. Identify known and emerging risks, measuring, monitoring and reporting on the entity’s risk profile to the Executive Management Team and the Board of Directors.


8. Propose and implement risk mitigants (both policies and tools) to address major structural inherent risks, as appropriate.


9. Manage the design and implementation of compliance activities in all relevant areas of ATI operations.


10. Facilitate the maintenance of risk corporate policies including credit and counterparty risk, market risk, operational risk, compliance, security, acceptable use, information security, physical security, business continuity planning and limit breaches and escalation.


11. Lead the facilitation, implementation and monitoring of effective risk management practices and ensure operating policies and procedures are complied with throughout the organization.


12. Advocate and support the culture of informed risk-taking, heighten awareness and use of advanced risk management practices through training programs and coaching.


13. Establish a high level of trust and credibility by building and maintaining relationships with business partners, key stakeholders and collaterals.


14. Perform such other duties as may be assigned from time to time.

Qualifications and Attributes

1. First degree in Finance/Insurance or Actuarial Science. A Master’s Degree in a relevant field will be an added advantage.


2. 15 years of experience in risk mitigation, preferably in Insurance/Reinsurance or banking sector.


3. Knowledge and context of roles of Development Financial Institutions is an added advantage.


4. Experience in Insurance/Financial Service/Reinsurance Banking environment is much preferred.


5. Membership of Risk Professional Body is an added advantage

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