Position Group Quantitative and Financial Risk Officer

job Description

Assists business unit management to develop their risk management strategy and policy in accordance with the Audit Risk and Compliance Committee's approved risk appetite and segment requirements. Manages implementation of Policy Statements, supporting guidance and procedures within area of responsibility. Ensures that risk processes (risk assessment, identification, management, reporting and optimisation) are implemented at business unit level.

The role is accountable for the full implementation of financial risk management and quantitative risk frameworks across the Old Mutual Zimbabwe Ltd (OMZIL) Group in collaboration with various stakeholders. These include but are not limited to the Model Risk Policy, Stress and Scenario Testing Framework, Market, Liquidity and Credit Risks Management Frameworks, Capital Management, ORSA/ICAAP.

Duties and Responsibilities

Job Description
Assists teams in developing and maintaining a strong understanding of quantitative regulatory and internal risk management requirements related to various risks.
With oversight/guidance from senior staff, research, analyse, code and document risk models for quantifying risks.
Computes quantitative metrics and perform, at a minimum, impact analysis, root cause analysis and statistical analysis for various business initiatives or regulatory pronouncements across the businesses.
Provides advisory services at all levels on the various quantitative endeavours the Business Units (BU) might want to pursue; this includes stress testing and new or existing model builds.
Oversees the development of models (that is, design, estimate, implement, test, document and maintain quantitative models), whilst ensuring that adequate documentation and controls are maintained for all models and methodologies to enhance decision-making.
Champions quantitative risk reviews and validations across OMZIL Group, this includes annual review and adequacy assessment of Key Risk Indicators, targeted financial model reviews / validations as contained in the OMZIL model inventory.
Provides training to various stakeholders in order to improve the culture and skills base around quantitative risks. This includes up-skilling or re-skilling of colleagues in the risk and modelling fraternities to embrace the future of quantitative risk methods.
Champions risk data quality and integrity by highlighting risk data quality issues and suggesting appropriate solutions.
Risk reporting. Provides comprehensive interpretations, explanations, and conclusions based on a set of analytic results, including identifying new opportunities to enhance existing decisions and risk management processes through the use of analytical and statistical models and tools.
Ensures that the control environment around quantitative/model risk management aligns to policy and regulatory requirements.
Assists the business with various financial risk deliverables, i.e. enhancement of existing techniques and the development of new risk measurement techniques.

Qualifications and Experience

First Degree in a quantitative field such as Mathematics, Statistics, Quantitative Finance, Econometrics, Physics, Engineering, Financial Engineering or Actuarial Sciences or equivalent. A postgraduate degree or professional qualification in a related field is an added advantage.

A minimum of five (5) years of relevant experience related to financial and quantitative risk modelling. Strong knowledge of risk models as well as capital adequacy standards (e.g. Basel I – IV, Solvency II or equivalent) and International Financial Reporting Standards (IFRS 9 and 17) are required as well as strong quantitative and analytical skills encompassing - model development /review, analytics or quantitative research) covering applied statistics, data manipulation, programming and analytical techniques such as linear and nonlinear regression, time series forecasting, panel data analysis, optimisation, data mining and survival analysis.

Knowledge in programming and data analytics tools such as VBA, C++, Python and R, among other languages is a requirement.

Skills
Action Planning, Analytics Software, Budget Management, Computer Literacy, Data Analysis, Database Reporting, Data Compilation, Data Controls, Data Interpretations, Evaluating Information, Management Reporting, Numerical Aptitude, Report Review, Solution Analysis

Competencies
Business Insight
Courage
Decision Quality
Ensures Accountability
Financial Acumen
Instills Trust
Manages Complexity
Optimizes Work Processes

Education
Bachelors Degree (B) (Required)