Job Title: Risk and Compliance Officer
Organisation: Jubilee Health Insurance Company of Uganda Limited (JHICU)
Duty Station: Kampala, Uganda
About US:
Jubilee Health Insurance Company of Uganda Limited (JHICU) is the number 1 insurance provider in Uganda. We boost of over 80 years of service provision all over East Africa.
Job Summary: The Risk & Compliance Officer is accountable for ensuring compliance on all levels across board to all internal Jubilee Insurance policies and all external regulations, acts and laws applicable to the insurance and financial services industry. Responsible for development of risk management framework and implementation of approved risk mitigation strategies.
Key Duties and Responsibilities:
Compliance Responsibilities
- Ensures that: –
- Applicable regulation is complied with by business units and support functions through day-to-day monitoring and regular review of compliance to legislation, regulations and internal policies and controls.
- Compliance risks are identified, assessed, controlled through a mitigation strategy and enforced through business and support.
- Suspicious transactions are identified and reported immediately to the MLRO without tipping off.
- Review and regularly update Company process/operational manuals and systems to meet
- external regulatory requirements and internal controls such as mandates, escalations, policies, etc.
- Identifying areas of compliance weakness and recommend remedial measures in consultation with the CEO’s, Heads of Departments, Compliance Manager, and IT Risk & Compliance Manager.
- Work with Internal Audit on their recommendation on compliance related issues for implementation.
- Preparing departmental compliance training material, train staff and third parties across all lines. Work with the Department Heads to increase compliance awareness.
- Monitoring requests from and returns to the authorities and ensure issues raised are addressed promptly and reports filed within due dates.
- Preparing and presenting compliance reports to various stakeholders daily, weekly, monthly, quarterly and annually.
- Coordinating the AML/CTF including identification of suspicious transactions, ensuring that the business is addressing all the gaps identified in the TAT’s set, and other regulatory activities.
- Ensuring that the Data Protection Act is complied with by working with the Data Protection Officer and the business to implement the same.
- Conducting continuous audits, reviews and enhancements of compliance on processes/ systems/documents and manuals with reference to laid down policies, regulations, laws and best practices in the line of business.
- Be aware of any regulatory/legal changes affecting clients and the effect of the same on the company.
- Collaborate with internal, external auditors and HR as required.
- Monitor timely reporting of all due returns and report non-compliance.
- Support team in management of crisis or compliance violation.
Risk Responsibilities
- Support the businesses in the development of a risk management strategy and governance structure.
- Participate in the formulation and review of risk management and control activities for each unit and function.
- Support the development of risk registers for each department and unit.
- Support the organization in the development of adequate business continuity strategies including business impact analysis documents, incident management procedures, emergency procedures and communication procedures.
- Support the organization in the annual business continuity tests.
- Evaluate the adequacy and effectiveness of controls established by management for appropriate risk mitigation at both department and process level.
- Monitor and submit regular reports regarding progress made in the implementation of risk mitigation action plans to various audiences including management risk committees and Board committees.
- Reviewing new and on-going products to ensure that they are carried out only after a comprehensive risk assessment is done.
- Demonstrate Teamwork/spirit and continued personal development: –
- Support team members as allocated.
- Attending training, seminars, works as directed by Management.
- Work with integrity, passion, and commitment through: –
- Full compliance of Jubilee Insurance non-solicitation policy
- Protection of company’s data, IP, strategy and secrets, sensitive, personal, confidential client data.
- Any other duties that may be assigned by the management.
Qualifications, Skills and Experience:
- The applicant must hold a Bachelor’s Degree in Actuarial Sciences, Law or Finance.
- Possession of a professional Diploma in Risk Management is an added advantage.
- At least three years of related work experience.
- Computer software packages.
- Experience in an Insurance Company is an added advantage.
- Strong Analytical skills
- High level of Integrity and Professionalism
- Visionary Leadership
- Regulatory / market Awareness
- Customer Focus
- Continuous Innovation
- Ownership & Commitment
- Team Spirit
How to Apply:
If you are qualified and seeking an exciting new challenge, please send your application, CV together your academic documents as one document either in PDF or Word Format to jhicu-recruitment@jubileeuganda.com quoting clearly the Position in the subject line.
NB: Only shortlisted candidates will be contacted.
Deadline: 7th March, 2023