Risk Manager

First Line Compliance & Business Improvement

About Discovery

About Discovery Invest

Launched in 2007, Discovery Invest offers the full range of investment products for any client need, providing access to our top performing range of Discovery funds as well as a wide selection of leading local and international fund managers. Recently, Discovery Invest launched a unique offshore offering to enable South African investors unparalleled ease in accessing international investment opportunities. Discovery Invest is seeking to leverage the shared-value model to promote financial health and freedom for millions of South Africans. Through unique behavioural incentives and benefits, we reward clients for positive investment behaviour with extra investment returns. Discovery Invest is the only shared value investment platform in the country maximizing client outcomes before and after retirement. It is important for our employees to provide world class service to our internal and external clients, thereby ensuring long and sustainable relationships.

Key Purpose

To lead, guide and support a team of Risk Specialists responsible for mitigating business and compliance risk within Discovery Invest. To construct and implement a Risk Management strategy aimed at proactively identifying and mitigating business risks. To construct and implement a fraud mitigation strategy aimed at identifying and reducing fraud risk within the business.

In addition to the above, the role also requires engagement with 2nd Line Risk Management functions as well as internal operations stakeholders.

Areas of responsibilities

To assist and support the Head:First Line Compliance & Business Improvement) in fulfilling his mandate which includes but is not limited to:

• Implementation of the Group Risk Framework as is relevant to the applicable Business Unit and advising on processes and suitable control frameworks to implement strategic regulatory obligations
• Provision of strategic guidance and support to the Business Units on the implementation of new and changed regulatory obligations and with the aim of ensuring that business objectives (strategic and operational) are aligned to the regulatory framework and risk exposure profile of the business
• Managing the Regulatory Profile and engaging with the Executive Management team on any Risk incidents and exposures relating to its regulatory obligations.
• Development and oversight of reports as well as setting reporting standards to provide accurate pertinent risk reports
• Project management in support of risk requirements, implementation of systems, procedures, policies and training requirements.
• Monitoring the applicable business unit risk functions and assurance across the business units.
• Assist management with identification and evaluation of risk exposures and regulatory breaches.
• Engagements with Regulators and with other interest groups in the industry.
• Implementation of the Fraud Control Management System (FCMS)

Education, Knowledge and Experience

• Relevant tertiary qualification (preferably in the Risk or Commerce field).
• The person must have a clear and in-depth understanding of the Collective Investment Schemes Act, the FAIS Act (especially Cat I, II and III) and the Long-Term Insurance Act as it relates to the underwritten investments policies.
• At least 5 years of Risk-related experience.
• At least 3 years of experience in a First Line role

Competencies

• Adaptable
• Excellent communication skills
• Resilient
• Team Player

The Company's approved Employment Equity Plan and Targets will be considered as part of the recruitment process. As an Equal Opportunities employer, we actively encourage and welcome people with various disabilities to apply.