- Johannesburg
- Salary: Market Related
- Job Type: Permanent
- Sectors: Insurance
- Reference: 144099
Vacancy Details
Employer: Nedbank Head Office
Job Classification Job Requisition: 144099 TA Specialist: Refilwe Falatsi Closing Date: 27 February 2026 Location: 135 Rivonia Campus, Sandown Cluster: Personal and Private Banking | Nedbank Insurance | Risk Employment Equity: Preference will be given to applicants from Underrepresented Groups Job Purpose Nedbank Insurance is seeking an experienced Risk Officer to provide support to the Financial Risk Manager to provide strategic and operational expertise, advice, assistance, consultancy services and general support for all financial risk-related matters to the Insurance Chief Risk Officer (CRO). Financial risks include risks related to Underwriting, Pricing, Reserving and Provisions, Reinsurance, Solvency, Policyholder and Shareholder investment, Credit risk (for reinsurers and investment instruments) and Liquidity. Job Responsibilities
* Support the Financial Risk Manager and CRO in embedding a robust risk management culture within the business.
* Provide independent assessment and reporting of financial risks to executive management, risk committees, the Board and relevant stakeholders.
* Assist the Financial Risk Manager in facilitating the ORSA process including scenario generation; coordinating inputs and compiling the report; facilitate approval and submission.
* Assist with the implementation and improvement of financial risk frameworks, policies, and processes aligned with Nedbank’s risk frameworks and regulatory requirements, including insurance industry requirements.
* Facilitate the risk management activities relating to the processes for managing financial risks with support from the ERM risk team within the governance team, including Complete risk assessments, scenario analysis, and Key Risk Indicator (KRI) development to ensure proactive risk identification and mitigation of both threat risk and opportunity risk within the portfolio.
* Conduct monitoring and control effectiveness reviews (assurance)Assist with managing the relationships with externally appointed Heads of Actuarial Control Functions, including their scope, and budget.
* Administration of the Actuarial Control Committee.
* Facilitate the development and annual review of risk appetite statements and metrics across the financial risk universe.
* Assist with establishing capabilities within the financial risk team to complete independent validation of models that are not subject to HAF review as well as independent review of model governance for those models that are subject to HAF review.
* Monitor regulatory changes (with assistance from the Compliance team) and ensure timely communication and adaptation within the insurance business.
* Contribute to regular environmental scanning for identification of emerging risks.
* Engage with internal and external auditors, regulators, cluster risk specialists and other assurance providers, as required.
* Contribute to a culture conducive to the achievement of transformation goals. People Specification
* Strong analytical and problem-solving skills.
* Excellent communication and interpersonal abilities, with an ability to distil complex issues for various audiences.
* High attention to detail and strong organisational skills.
* Ability to work independently and as part of a team.
* Ability to work under pressure and manage multiple priorities
* Sound judgement, integrity, and a proactive approach to risk management.
* Advanced proficiency in Microsoft Office and risk management systems. Essential Qualifications - NQF Level
* Advanced Diplomas/National 1st Degrees Preferred Qualification Bachelor’s degree in actuarial science. TASSA qualification would be beneficial. Essential Certifications
* Professional Risk Manager (PRM), Financial Risk Manager (FRM) and/or Project Management Professional (PMP) Minimum Experience Level
* Minimum of 5 years’ experience in Actuarial teams with at least 3 years’ experience in a risk capacity such as Internal Audit, Risk function or part of an Actuarial Control Function team or other relevant exposure to risk-related work.
* Experience in reserving, IFRS17 and SAM is beneficial.
* Knowledge of insurance industry. Technical / Professional Knowledge
* Cluster specific operations
* Communication Strategies
* Data analysis
* Governance, Risk and Controls
* Principles of financial management
* Principles of project management
* Relevant software and systems knowledge
* Research methodology
* Decision-making process Behavioural Competencies
* Earning Trust
* Communication
* Decision Making
* Work Standards
* Managing Work
* Technical/Professional Knowledge and Skills
* Support the Financial Risk Manager and CRO in embedding a robust risk management culture within the business.
* Provide independent assessment and reporting of financial risks to executive management, risk committees, the Board and relevant stakeholders.
* Assist the Financial Risk Manager in facilitating the ORSA process including scenario generation; coordinating inputs and compiling the report; facilitate approval and submission.
* Assist with the implementation and improvement of financial risk frameworks, policies, and processes aligned with Nedbank’s risk frameworks and regulatory requirements, including insurance industry requirements.
* Facilitate the risk management activities relating to the processes for managing financial risks with support from the ERM risk team within the governance team, including Complete risk assessments, scenario analysis, and Key Risk Indicator (KRI) development to ensure proactive risk identification and mitigation of both threat risk and opportunity risk within the portfolio.
* Conduct monitoring and control effectiveness reviews (assurance)Assist with managing the relationships with externally appointed Heads of Actuarial Control Functions, including their scope, and budget.
* Administration of the Actuarial Control Committee.
* Facilitate the development and annual review of risk appetite statements and metrics across the financial risk universe.
* Assist with establishing capabilities within the financial risk team to complete independent validation of models that are not subject to HAF review as well as independent review of model governance for those models that are subject to HAF review.
* Monitor regulatory changes (with assistance from the Compliance team) and ensure timely communication and adaptation within the insurance business.
* Contribute to regular environmental scanning for identification of emerging risks.
* Engage with internal and external auditors, regulators, cluster risk specialists and other assurance providers, as required.
* Contribute to a culture conducive to the achievement of transformation goals. People Specification
* Strong analytical and problem-solving skills.
* Excellent communication and interpersonal abilities, with an ability to distil complex issues for various audiences.
* High attention to detail and strong organisational skills.
* Ability to work independently and as part of a team.
* Ability to work under pressure and manage multiple priorities
* Sound judgement, integrity, and a proactive approach to risk management.
* Advanced proficiency in Microsoft Office and risk management systems. Essential Qualifications - NQF Level
* Advanced Diplomas/National 1st Degrees Preferred Qualification Bachelor’s degree in actuarial science. TASSA qualification would be beneficial. Essential Certifications
* Professional Risk Manager (PRM), Financial Risk Manager (FRM) and/or Project Management Professional (PMP) Minimum Experience Level
* Minimum of 5 years’ experience in Actuarial teams with at least 3 years’ experience in a risk capacity such as Internal Audit, Risk function or part of an Actuarial Control Function team or other relevant exposure to risk-related work.
* Experience in reserving, IFRS17 and SAM is beneficial.
* Knowledge of insurance industry. Technical / Professional Knowledge
* Cluster specific operations
* Communication Strategies
* Data analysis
* Governance, Risk and Controls
* Principles of financial management
* Principles of project management
* Relevant software and systems knowledge
* Research methodology
* Decision-making process Behavioural Competencies
* Earning Trust
* Communication
* Decision Making
* Work Standards
* Managing Work
* Technical/Professional Knowledge and Skills
Candidate Requirements
We’re looking for a Risk Officer (Financial Risk) to support the Financial Risk Manager and CRO in embedding a robust risk culture, leading ORSA facilitation, enhancing financial risk frameworks aligned to SAM and IFRS 17, and independently assessing and reporting financial risks to executive forums. Experience across ORSA, KRIs, control assurance, model validation/governance, and stakeholder engagement (including HAF, auditors, and regulators) is essential. An Actuarial Science degree is required; TASSA advantageous.257 people have viewed this job.
About Nedbank Head Office
Money may be our backbone, but excellence is our culture. And diversity, our true driving force. We believe in creating a working environment that enables our people to help us bring our values to life. And to do so, we don’t just aim to acknowledge our differences but to celebrate them as the very mix we need to continue being the difference that enhances lives beyond banking. For this reason, our people are very important to us… Every single one of them in the financial, technological, legal, administrative, creative, hospitality or operational space. Each one of them, is our mirror. They are our reason to want to do better. And our reminder that we are in the service of others. Nedbank’s culture is embedded on values that promote accountability, a strong focus on meeting client needs, and on building a positive brand image.
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