Risk Manager

OUTsurance has been propelling the South African insurance industry forward for the last 28 years. As leaders in the field, we’re always looking for innovative ways to create digitally advanced solutions, without losing sight of our human values. Our continued success can be attributed to outstanding employees who set the bar high with their energy and expertise. If you’re keen to grow your career in a vibrant environment with lots of ‘fun’, this could be the career opportunity you’ve been looking for.

The Risk Manager is responsible for maintaining, managing, and executing processes to identify, prevent, assess, mitigate, monitor, and report Fraud and Operational risks for the South African entities in support of all management activities. This role requires that all risk management activities align with the Group’s Risk Management Strategy and Framework and support the organisation’s overall governance objectives. The Risk Manager forms part of the Risk and Compliance Department and reports directly to the General Manager of Risk Management with a fraud risk specialist reporting directly to them.

As a Risk Manager with Fraud Risk management responsibilities, you will be responsible for but not limited to the below:

• Plan and coordinate annual risk management activities, including scheduling and preparing risk assessment workshops.
• Facilitate structured risk workshops with department managers and heads to identify, categorise, assess, and rate fraud and operational risks.
• Maintain and update the Risk Register by accurately capturing identified risks on the risk management system and ensuring ongoing reviews through regular engagements.
• Evaluate the effectiveness of internal controls, monitoring key risk indicators (KRIs) in alignment with the approved risk appetite and escalating concerns where required.
• Monitor, assess, quantify, and report on risk events, ensuring timely escalation and root‑cause analysis to support informed decision‑making.
• Compile and present various management reports, including OPSCO reports, Fraud-specific reports, and other risk-related dashboards as required.
• Support the review and enhancement of Risk Management policies, ensuring alignment to best‑practice principles and regulatory requirements
• Conduct ongoing fraud‑related monitoring activities, including reviewing and implementing exception reports, and system‑generated alerts and develop awareness campaigns to strengthen the organisation’s fraud risk culture.
• Continuously identify opportunities to improve fraud risk management practices.
• Identify, calculate, and report operational and opportunity losses, providing insight for management and supporting loss prevention initiatives.
• Attend relevant company forums, committees, and meetings, actively contributing to discussions, initiatives, and decision‑making processes related to Fraud and Operational risk.
• Engage and collaborate with key stakeholders, including management teams, Internal Audit, Compliance, and Quality Assurance, to ensure alignment on risk‑related matters and promote a strong risk culture.
• Develop and maintain effective working relationships with internal and external stakeholders to support information sharing, risk insights, and cross‑functional problem‑solving.
• Maintain a deep understanding of departmental operations, processes, and associated risks, enabling proactive identification of emerging threats and opportunities for improvement.
• Responsible for managing and supporting a Fraud Specialist to ensure effective execution of fraud investigative activities.
• Participate as an individual or as part of a project team on special projects such as the Annual Integrated Report (ESG).

Competencies

The successful individual would need to demonstrate the below listed competencies:

• Calm and professional mannered.
• Ability to deal with sensitive information with discretion and to maintain confidentiality at all times.
• Ability to listen effectively.
• Business enabler without compromising risk management principles.
• 'Can do' attitude, comfortable dealing with ambiguity, resilient, strong team player, committed to continuous improvement.
• Very strong interpersonal skills and the ability to build relationships.
• Problem-solving with strong decision-making mind-set.
• Takes initiative and works under own direction.
• Engages professionally.
• Adapts and responds positively to change.
• The ability to multitask and handle stress to meet project deadlines.
• Works meticulously always demonstrating a very high level of attention to detail.
• Excellent written and verbal communication skills.
• Ability to communicate effectively on all levels.

Requirements

• Relevant Risk Management or equivalent qualification.
• 3 years’ experience in Risk Management or
• 3 years’ experience in Fraud Investigation practices.
• Knowledge of fraud schemes, fraud indicators, and investigative procedures (advantageous).
• Problem-Solving and Analytical Skills.
• Proficient in MS Office Suite.
• Business and report writing skills.

Evidence of

• Personal drive and a positive attitude.
• Knowledge of Enterprise Risk Management principles, frameworks, and methodologies.
• Upholds ethical standards and the ability to maintain confidentiality.

An ideal candidate will be able to align their personal work values to the OUTsurance values of Awesome Service, Dynamic, Honest, Human, Passionate and Recognition.

In accordance with OUTsurance Insurance Company Ltd Employment Equity goals, preference will be given to individuals who meet the job requirements and are from the various designated groups.