Risk and Compliance Manager at Trident Insurance Company

Job Purpose:

• The Risk and Compliance Manager is responsible for leading and managing all aspects of risk management, regulatory compliance, and internal control systems within Trident Insurance Company. This role ensures that the company operates within the legal and regulatory frameworks set by the Insurance Regulatory Authority (IRA), as well as internal policies, to safeguard the company’s assets, reputation, and ensure sustainable growth.

Key Responsibilities:

Risk Management:

• Develop and implement a comprehensive Enterprise Risk Management (ERM) framework in line with industry best practices and regulatory standards.
• Identify, assess, monitor, and report key operational, financial, legal, reputational, and strategic risks across the business.
• Coordinate risk assessments across departments and ensure risk registers are maintained and updated.
• Advise the leadership team on risk exposures and mitigation strategies.
• Lead incident management and root cause analysis of risk events and ensure follow-up actions are taken.

Regulatory Compliance:

• Ensure the company’s full compliance with all applicable insurance laws, regulations, and guidelines from IRA, CMA, and other relevant bodies.
• Monitor regulatory developments and advise management on changes and their implications for the business.
• Liaise with regulators and ensure timely and accurate submission of all required returns and reports.
• Implement and enforce company-wide compliance policies, controls, and awareness programs.
• Conduct compliance audits and internal reviews to evaluate adherence to laws and internal policies.

Governance and Control:

• Promote a strong compliance culture and risk-aware mindset across the organization.
• Develop internal policies and procedures that reflect regulatory obligations and best practices.
• Collaborate with Internal Audit to ensure strong internal controls and risk management practices.
• Serve as Secretary to the Risk and Compliance Committee and prepare relevant reports for Board meetings.

Training and Awareness:

• Provide training and support to departments on risk and compliance responsibilities.
• Lead company-wide risk awareness and compliance sensitization campaigns.

Qualifications and Experience:

• Bachelor’s degree in Law, Risk Management, Finance, Actuarial Science, or related field.
• Professional qualifications such as CPA, CISA, CIA, or CRMA are an added advantage.
• Minimum of 5 years of experience in risk management and compliance, preferably within the insurance or financial services sector.
• Strong knowledge of insurance laws, IRA regulations, AML/CFT laws, and corporate governance standards.
• Demonstrated experience in developing and implementing risk frameworks and compliance programs.

Key Competencies and Skills:

• Strong analytical and problem-solving skills.
• High level of integrity and ethical standards.
• Excellent communication and interpersonal skills.
• Ability to work independently and handle confidential information with discretion.
• Strong organizational and leadership abilities.
• Attention to detail and commitment to excellence.