Role Overview

The Manager, Risk and Compliance, is responsible for providing strategic leadership in the development, implementation, monitoring, and continuous improvement of Group-wide risk management and compliance frameworks, policies, and procedures. The role safeguards the Group’s assets, ensures full regulatory compliance across all subsidiaries and operating markets, and aligns risk and compliance practices with Kenya Re’s strategic objectives as a leading Government Owned Enterprise (GOE). This includes oversight of group companies/subsidiaries and adherence to requirements from the respective insurance and other regulators that the Group must comply with, and all other governmental and statutory regulations.

Key Responsibilities

Strategic Risk Leadership

• Develop, implement, and maintain a comprehensive Group-wide Risk Management Strategy (RMS) and framework that is approved by the Board, aligned with the Group’s overall business strategy, and incorporates risk appetite, policies, procedures, and controls.
• Review, update, and recommend enterprise risk management policies, processes, and frameworks while embedding a strong risk-aware culture across the Group at both entity and group-wide levels.
• Ensure risk management priorities and the risk management framework are fully integrated into the Group’s strategic plans, business objectives, and new significant activities or products.

Risk Analytics, Capital & Reserve Management

• Provide recommendations on rating methodologies, parameters, and tools to enhance the accuracy of technical pricing in line with prevailing market, economic conditions, and product offerings.
• Advise the Group Managing Director, Executive Management, and the Board on capital adequacy ratios, solvency positions, and capital requirements based on the internal capital model, stress testing, and scenario analyses.
• Make informed recommendations on technical reserves based on independent analysis of reserve valuation reports.

Compliance & Regulatory Oversight (including GOE-specific Requirements)

• Advise the Board and Management on emerging Anti-Financial Crime (AFC), AML/CFT, and other regulatory developments in Kenya and target markets.
• Maintain up-to-date knowledge of all applicable legal, regulatory, and governmental requirements across Group companies/subsidiaries (as a Government Owned Enterprise), including those from respective insurance and other regulators that the Group must comply with; ensure timely dissemination and monitor Group-wide compliance.
• Oversee the Group’s AML/CFT programme and promote a strong culture of compliance, integrity, and ethical conduct.

Risk Monitoring, Mitigation & Assurance

• Identify, assess, aggregate, monitor, and report on key material risks (operational, insurance, reinsurance, market, liquidity, regulatory, strategic and others) impacting the Group’s profitability, reputation, and operational resilience.
• Oversee risk management across all operational departments, including Risk and Control Self-Assessments (RCSA), internal controls, transaction due diligence, and risk reporting to Management and the Board Risk Committee.
• Co-ordinate operational audits, conduct stress testing and scenario analyses, and drive continuous improvement of the risk management and internal control systems.

Enterprise Risk Management & Business Enablement

• Coordinate the design, development, and implementation of Group Enterprise Risk Management (ERM) tools, systems, and processes, including mechanisms for risk identification, assessment, monitoring, reporting, and escalation.
• Provide leadership in aligning the Group’s organizational structure to integrate pricing, reserving, and business analytics functions under one cohesive, business-aligned team, delivering a 360-degree view of the entire Group.
• Participate in new product development initiatives, providing a comprehensive Group-wide risk and compliance perspective and ensuring Board approval for any new risk exposures.
• Identify and drive opportunities for improving the Group’s performance, operational efficiency, optimal resource utilization, and elimination of waste while strengthening risk controls.

Requirement/Person Specifications

• Bachelor’s Degree in any of the following disciplines: Risk Management, Finance, Accounting, Economics, Statistics, Actuarial Science, Insurance, Business administration, Law, or a related field from a recognized and accredited institution.
• Master’s Degree in any of the following disciplines: Risk Management, Strategic Management, Finance, Insurance, Business Administration, Statistics, Law, or a related field from a recognized and accredited institution.

Professional Qualifications

• Professional Certification in Risk Management or Compliance (e.g., CRMP, FRM, PRM, ISO 31000, ISO 37301) or its equivalent from a recognized and accredited institution.
• Professional qualification from the Institute and Faculty of Actuaries (IFoA) – Kenya/UK or an equivalent actuarial qualification from a recognized institution.
• Certified Public Accountant (CPA-K) and membership in good standing of the Institute of Certified Public Accountants of Kenya (ICPAK) or an equivalent from a recognized institution.
• Certificate in a leadership or management course lasting not less than four (4) weeks from a recognized and accredited institution.
• Valid practicing certificate from the relevant professional body, where applicable.
• Proficiency in computer applications.
• Demonstrated managerial, administrative, and professional competence in work performance and results.
• Fulfilment of the requirements of Chapter Six of the Constitution.

Experience

• Minimum of fifteen (15) years’ relevant cumulative work experience in risk management, compliance, insurance, reinsurance, or a related field, three (3) years of which must have been served in the grade of Assistant Manager, Risk Management and Compliance or in a comparable senior management position in a reputable organization.
• Demonstrable team management experience and proven interaction with the Board of Directors or equivalent governance structures.

Other Requirements

• Excellent interpersonal, communication, and stakeholder management skills, with the ability to engage effectively with the Board of Directors, Executive Management, regulators, and other key stakeholders.
• Superior planning, organizing, problem-solving, and decision-making skills, with the proven ability to work effectively under pressure and deliver high-quality results within tight deadlines.
• A team player with strong leadership qualities and exceptional analytical, critical thinking, and presentation skills.
• Sound knowledge of auditing concepts, principles, internal control frameworks, and assurance practices.