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Deputy Director Risk Analytics
The BMA is looking to recruit a Deputy Director in Risk Analytics. The successful candidate will direct and manage a team and individuals responsible for designing and implementing the BMA’s solvency assessment framework and market analysis programme (with emphasis on insurance) to assist the BMA in achieving its regulatory responsibilities; demonstrates effective leadership qualities, communication and interpersonal skills, which provides the basis of quality service and performance of duties.
Responsibilities
1. Directs teams responsible for the direction of activities utilised in the formulation and implementation of risk assessment and financial analytical support.
2. Provides advice, guidance and direction to teams under supervision, and colleagues, on all relevant matters pertaining to the Authority’s overall risk and financial analytics framework.
3. Establishes objectives, goals and priorities for teams and individuals within the Department.
4. Directs, and/or assists in the development and implementation of Risk and Analytics initiatives.
5. Develops, implements and communicates performance standards and ensures that staff are trained and developed to effectively:
o identify and monitor economic indicators and trends that impact the market at both the macro and micro levels, and to assess the impact of these indicators.
o model complex transactions including sensitivity analysis, stress testing and assessment of financial soundness indicators and apply appropriate techniques.
o perform financial reviews of financial statements and returns, including risk exposure and probable maximum loss, risk management strategies, capital adequacy, governance and other relevant sources of information for both insurers and groups (including financial conglomerates), and undertake appropriate monitoring with the objective of communicating issues/trends/risks to supervisory teams on a timely basis.
6. Contributes to the development and implementation of new or revised policy and/or legislative initiatives.
7. Represents the Authority at various local, regional and international meetings, conferences and seminars as required. This includes meetings and information exchanges with other regulatory bodies, Government Agencies and the Financial services Industry to maintain and develop key relationships whilst keeping abreast of Industry trends.
8. Develops timely budgets for the effective management of the Department ensuring that controls are in place to monitor the operations of the department and provide accountability for funds distributed in keeping with the goals and objectives of the BMA.
9. Performs other related work and special projects as assigned by management, in accordance with competencies normally associated with the post.
Staff Responsibilities
1. Provides management leadership and supervision to assigned Analytical teams and individuals with respect to providing professional advice, encouragement and guidance in conducting their assignments and achieving both departmental objectives and personal goals.
2. Monitors performance of individual team members and provide routine mentoring and feedback and prepare formal performance appraisal reports as prescribed by the performance management process.
3. Identifies training needs of employees and in conjunction with L&D establish programmes for their development by way of formal training courses, special projects or on the job exposure.
Education & Experience
Education:
A Master’s Degree or equivalent qualification in Insurance, Finance or Accounting from a recognized Institution or professional body.
Experience:
Minimum of twelve (12) years experience of which five (5) post graduate years in the insurance industry and/or working experience with a regulatory body, preferably with risk-based capital models for commercial insurers.
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