Overview

The Risk and Compliance Officer is responsible for developing, implementing, and maintaining effective risk management and compliance frameworks. This role ensures all company operations adhere to regulatory requirements, internal policies, and reinsurance best practices. The Officer will oversee the company’s operational, financial, and compliance risk exposure, support effective risk-based decision-making, and promote a culture of robust internal control.

Key Responsibilities

Risk Appetite, Monitoring, and Reporting

• Establish, update, and embed the company’s risk appetite statement across all business activities, aligning with strategic objectives.
• Continuously monitor and report on exposures and performance against the approved risk appetite, escalating breaches or emerging risks to Senior Management.
• Ensure that key risk indicators and risk metrics are measured, reviewed, and acted upon in a timely manner.

Asset Liability Matching and Financial Risk Management

• Oversee and ensure effective asset-liability matching strategies to maintain sufficient liquidity, optimize returns, and manage interest rate and currency risks associated with reinsurance obligations.
• Work with investment and actuarial teams to align asset allocation with liability profiles, regulatory requirements, and the company’s risk appetite.

Risk Management

• Develop, implement, and update the corporate risk management policy and framework.
• Identify, assess, monitor, and report on operational, underwriting, credit, and strategic risks.
• Support the management and mitigation of risks using risk registers, scenario analyses, and stress tests.
• Prepare periodic risk reports for Management, the Board, and regulatory authorities.

Compliance

• Ensure continuous compliance with Tanzanian laws, TIRA regulations, and international standards (e.g., AML/CFT, Solvency).
• Oversee all aspects of regulatory reporting, licensing, and statutory submissions.
• Liaise with auditors and regulators during compliance reviews and audits.

Internal Controls

• Design, communicate, and review internal controls/ policies to ensure compliance and risk management goals are met.
• Lead training and awareness programs on risk and compliance for all staff.
• Conduct compliance checks, investigations, and recommend corrective actions if needed.

Other Responsibilities

• Support business continuity planning and disaster recovery processes.
• Coordinate with group or global risk and compliance colleagues on broader initiatives.
• Maintain documentation and assist with board and regulatory queries as needed.
• Foster a strong risk and compliance culture across the company.

Qualifications & Experience

• Bachelor’s degree in Risk Management, Law, Finance, Insurance, Actuarial Science, Accounting, or related fields.
• Relevant professional certifications (e.g., CII, CISA, ACCA, CIA) are an advantage.
• Minimum 3 years’ experience in risk, compliance, or audit roles within insurance/reinsurance or financial services.
• Strong knowledge of Tanzanian insurance/reinsurance regulation, risk appetite frameworks, asset-liability management, and relevant international practice.
• Familiarity with TIRA legislation, AML/CFT requirements, asset-liability matching, and regulatory reporting.
• Excellent analytical, organizational, and communication skills.

Key Competencies

• Strong skills in risk identification, assessment, and monitoring
• Financial acumen, especially in asset-liability management
• Excellent written and verbal communication
• Integrity, attention to detail, and confidentiality
• Ability to work independently and collaboratively across functions
• Skilled in preparing and delivering risk and compliance reports to senior management

• Establish, update, and embed the company’s risk appetite statement across all business activities, aligning with strategic objectives.
• Continuously monitor and report on exposures and performance against the approved risk appetite, escalating breaches or emerging risks to Senior Management.
• Ensure that key risk indicators and risk metrics are measured, reviewed, and acted upon in a timely manner.
• Oversee and ensure effective asset-liability matching strategies to maintain sufficient liquidity, optimize returns, and manage interest rate and currency risks associated with reinsurance obligations.
• Work with investment and actuarial teams to align asset allocation with liability profiles, regulatory requirements, and the company’s risk appetite.
• Develop, implement, and update the corporate risk management policy and framework.
• Identify, assess, monitor, and report on operational, underwriting, credit, and strategic risks.
• Support the management and mitigation of risks using risk registers, scenario analyses, and stress tests.
• Prepare periodic risk reports for Management, the Board, and regulatory authorities.
• Ensure continuous compliance with Tanzanian laws, TIRA regulations, and international standards (e.g., AML/CFT, Solvency).
• Oversee all aspects of regulatory reporting, licensing, and statutory submissions.
• Liaise with auditors and regulators during compliance reviews and audits.
• Design, communicate, and review internal controls/ policies to ensure compliance and risk management goals are met.
• Lead training and awareness programs on risk and compliance for all staff.
• Conduct compliance checks, investigations, and recommend corrective actions if needed.
• Support business continuity planning and disaster recovery processes.
• Coordinate with group or global risk and compliance colleagues on broader initiatives.
• Maintain documentation and assist with board and regulatory queries as needed.
• Foster a strong risk and compliance culture across the company.

• Strong skills in risk identification, assessment, and monitoring
• Financial acumen, especially in asset-liability management
• Excellent written and verbal communication
• Integrity, attention to detail, and confidentiality
• Ability to work independently and collaboratively across functions
• Skilled in preparing and delivering risk and compliance reports to senior management
• Excellent analytical, organizational, and communication skills

• Bachelor’s degree in Risk Management, Law, Finance, Insurance, Actuarial Science, Accounting, or related fields
• Relevant professional certifications (e.g., CII, CISA, ACCA, CIA) are an advantage