Risk Manager

Role

Identify credit, financial, operational risks to which Coface is exposed in the short and long term with a consistent approach to the overall business strategy and develop/implement precautions and revise current guidelines.

Advice on opportunities for product, service, market and strategic optimisation or development.

Support Coface Group and Regional Risk Management in the Second Line of Defense in the Asia Pacific Region (APR) for India. Provide advice on opportunities for product, service, market and strategic optimization or development.

Local Entity Risk Manager involving execution and oversight of the Risk Management Framework, local Risk Management Committee meeting, Internal controls assessments, reviews and projects.

Responsibilities

Risk Identification, Assessment and Monitoring:

·        Provide oversight on all risk types (credit, financial, operational risks), review the implications, and develop / implement solutions.

·        Define, categorize and identify from all sources the risks by type/category (e.g  business sector, business activity and of the company), associated major components  (economic, financial and regulatory ) and controls in place.

·        Maintain a strong second line of defense with proactive challenge to the business and escalation to Regional Risk Management and Local Management.

·        Be aware of evolving developments, regulatory requirements and industry changes to support risk identification on key risks and emerging risks to allow effective analysis, prioritization and communication.

·        Define the approved risk tolerance limits for each type/category of risk. and develop Key Risk Indicators, review processes and develop risk mitigation strategies with the Business.

·        Develop the consolidated risk cartographies to be communicated to the governance bodies, related Committees and Head of functions.

Risk management

·        Contribute to draft the risk management policies with regard to the following: underwriting and reserving risk, asset-liability management, investment risk, liquidity risk, concentration risk, reinsurance and other mitigation techniques, as and when required.

·        Carry out second level controls on policies, procedures, systems and processes within established frequency (e.g quarterly, six-monthly).

·        Perform incident and loss reporting and risk mapping to assess local entities risk profile

·        Make oral and written presentations to communicate results, findings and, where required, an Action Plan.

·        Follow up the implementation of recommendations within the established time-frame.

·        Produce reports on completion of actions plans. Identify corrective action if not worked throughout the period under review and document agreed-upon remedial measures. Notify management on breaches, where required.

·        Carry out quality maturity analysis.

Monitoring & Reporting

·        Monitor risk controls.

·        Review and update the risk register on regular basis from description of the risk to controls and actions currently in place, and key risk indicators.

·        Stay current with evolving with Coface developments, industry and regulatory changes to assist in the early identification of emerging risk issues.

·        Maintain an active reporting line on key risk information to governance bodies, reporting manager - Regional Head of Risk Management, local Country Manager and Heads of Functions and related Committees.

Communication

·        Draft internal communication concerning risk management issues and ensure distribution through appropriate internal channels.

·        Contribute to draft reports to regulatory authorities.

Risk Culture, Governance, Advice and liaison:

·        Develop/ lead/participate to a network of risk correspondents through ad-hoc tools to gather risk information and enable sharing best practices on actions carried out, deployment timetables, and return on experience.

·        Act as an internal subject matter expert and develop capability to provide the management and departments assistance on any related risk management issues, as required.

·        Maintain a fluid collaboration with other corporate insight functions (e.g Underwriting, Legal, Compliance, Audit) to mutualize critical information on emerging risks, potential accumulations, interactions and implement consistent and effective approaches to risk governance and control based activities.

·        Assist in drawing up the audit plan, if required;

·        Foster a culture of risk awareness and assist in risk training and workshops for the Business

·        Maintain, and update the risk management and governance frameworks and ensure company policies remain up to date, relevant and aligned with latest Regulatory and Group requirements.

Crisis management

Contribute to the definition, implementation and communication concerning  disaster recovery and business continuity planning. Ensure ccontingency plans are in place and reviewed on a regular basis.

Solvency assessment, where applicable

·        Collect, manage and validate data from different business areas and entities for periodic production and review of the Group Solvency II project deliverables (Pillars 1,2 and 3), as required.

·        Assist in the development of Solvency II metrics;

·        Participate to the ORSA design (standard formula/internal model) and its application across the business.

·        Contribute to /produce the ORSA report (risk profile and appetite, assessment of capital, stress and scenario testing, forward looking assessment).

Budget:

Manage and  control departmental expenditure within agreed budgets, where applicable;

People Management (where required):

·        Manage teams and activities through the guidance and direct action promoting performance and process control.

·        Act as a lead in training and coaching personnel in order to maximize team efficiency.

·        Get actively involved in skills development programs for key contributors.

Project management:

Lead/participate in a project team (planning, fieldwork and reporting phases) related to risk managment and/or control based activities, if required.

Compliance

Ensure compliance with the Group Risk rules  and Charter as well as with regulations laid down by Coface and external bodies.

Technical and/or Practical skill set

Industry

Credit insurance

Knowledge of Coface's products, services

Functional

Knowledge of Enterprise Risk Management principles, Control risk management information systems

Knowledge of Risk Control Self-Assessment (RCSA)

Knowledge of statistical tools, data modelling, mathematical, financial technical analysis

Knowledge of banking and insurance regulations

Specific regulations/standards: Solvency II, ISO 31000

Knowledge and understanding of internal procedures

Project management

Knowledge of business processes walkthroughs; risks and key controls identification

IT

Microsoft Office applications: Word, Excel, PowerPoint

Experience

At least 5+ years' solid experience in insurance, financial institutions, external/internal audit or internal control.

Previous experience in a multicultural/international matrix organization is desirable.