Group Quantitative & Financial Risk Officer

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

Job Description

Job Description Summary

The role is accountable for the full implementation of financial risk management and quantitative risk frameworks across the OMZIL Group in collaboration with various stakeholders. These include but are not limited to the Model Risk Policy, Stress and Scenario Testing Framework, Market, Liquidity and Credit Risks Management Frameworks, Capital Management, ORSA/ICAAP.

Job Description

• Assists teams in developing and maintaining a strong understanding of quantitative regulatory and internal risk management requirements related to various risks.
• With oversight/guidance from senior staff, research, analyse, code and document risk models for quantifying risks.
• Computes quantitative metrics and perform, at a minimum, impact analysis, root cause analysis and statistical analysis for various business initiatives or regulatory pronouncements across the businesses.
• Provides advisory services at all levels on the various quantitative endeavours the Business Units (BU) might want to pursue, this includes stress testing and new or existing model builds.
• Oversees the development of models (that is, design, estimate, implement, test, document and maintain quantitative models), whilst ensuring that adequate documentation and controls are maintained for all models and methodologies to enhance decision-making.
• Champions quantitative risk reviews and validations across OMZIL Group, this includes annual review and adequacy assessment of Key Risk Indicators, targeted financial model reviews / validations as contained in the OMZIL model inventory.
• Provides training to various stakeholders in order to improve the culture and skills base around quantitative risks. This includes up-skilling or re-skilling of colleagues in the risk and modelling fraternities to embrace the future of quantitative risk methods.
• Champions risk data quality and integrity by highlighting risk data quality issues and suggesting appropriate solutions.
• Risk reporting. Provides comprehensive interpretations, explanations, and conclusions based on a set of analytic results, including identifying new opportunities to enhance existing decisions and risk management processes through the use of analytical and statistical models and tools.
• Ensures that the control environment around quantitative/model risk management aligns to policy and regulatory requirements.
• Assists the business with various financial risk deliverables, i.e. enhancement of existing techniques and the development of new risk measurement techniques.

Minimum qualifications and experience

• First Degree in a quantitative field such as Mathematics, Statistics, Quantitative Finance, Econometrics, Physics, Engineering, Financial Engineering or Actuarial Sciences or equivalent. A postgraduate degree or professional qualification in a related field is an added advantage.
• A minimum of five (5) years of relevant experience related to financial and quantitative risk modelling. Strong knowledge of risk models as well as capital adequacy standards (e.g. Basel I – IV, Solvency II or equivalent) and International Financial Reporting Standards (IFRS 9 & 17) are required as well as strong quantitative and analytical skills encompassing - model development /review, analytics or quantitative research) covering applied statistics, data manipulation, programming and analytical techniques such as linear and nonlinear regression, time series forecasting, panel data analysis, optimisation, data mining and survival analysis.
• Knowledge in programming and data analytics tools such as VBA, C++, Python and R, among other languages is a requirement.

Assists business unit management to develop their risk management strategy & policy in accordance with the Audit Risk & Compliance Committee's approved risk appetite & segment requirements. Manages implementation of Policy Statements, supporting guidance & procedures within area of responsibility. Ensures that risk processes (risk assessment, identification, management, reporting & optimisation) are implemented at business unit level.

Responsibilities

Financial Management and Control

Develop and/or deliver a plan for significant aspects of the financial management and/or control process.

Data Collection and Analysis

Make authoritative recommendations that have a significant impact on the business over the short and long term. Recommendations could be technical or professional in nature.

Policies and Procedures Development

Draft policies, procedures, and related guidelines within an area of expertise to meet defined key principles and ensure compliance with external requirements.

Organizational Risk Management

Develop and/or deliver a contingency plan for significant aspects of the risk management and/or risk control processes.

Risk Scenario Modeling

Analyze, assess, and quantify the risks associated with products, individual applications, business activities, and the market to determine whether any risk is within the agreed risk appetite. Undertake tactical risk modeling.

Recommendations

Recommend changes to policies, processes, standards, and practices that would improve operational support.

Insights and Reporting

Contribute to the design and creation of reporting strategies and templates. Lead execution of complex reports, identifying and interpreting complex patterns and trends, and translating those insights into actionable recommendations.

Document Preparation

Write and edit material for various target populations, tailoring the tone and content to match the needs and expectations of each audience.

Operational Compliance

Monitor and review performance and behaviors within area of responsibility to identify and resolve noncompliance with the organization's policies and relevant regulatory codes and codes of conduct.

Personal Capability Building

Act as subject matter expert in an area of technology, policy, regulation, or operational management for the team. Maintain external accreditations and in-depth understanding of current and emerging external regulation and industry best practices through continuing professional development, attending conferences, and reading specialist media.

Skills

Action Planning, Analytics Software, Budget Management, Computer Literacy, Creative Approaches, Data Analysis, Database Reporting, Data Compilation, Data Controls, Data Interpretations, Evaluating Information, Financial Risk Management (FRM), Management Reporting, Numerical Aptitude, Quantitative Risk, Report Review, Risk Control, Risk Measurement, Solution Analysis

Competencies

Business Insight

Courage

Decision Quality

Ensures Accountability

Financial Acumen

Instills Trust

Manages Complexity

Optimizes Work Processes

Education

Bachelors Degree (B) (Required)

Closing Date

26 January 2025 , 23:59

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