NICO Life Insurance Company Limited (NICO Life), a leading provider of innovative life insurance solutions, is an equal opportunity employer and diversity is an integral part of our Business, History, Culture, and Identity. Inclusion is the way we treat and perceive all differences, and all forms of diversity are seen as real value for the Company.

NICO Life seeks to recruit a suitably qualified person to fill the position of Risk Manager. The position is tenable at the Head Office in Blantyre.

Reporting to: Chief Finance Officer (CFO)

Key Responsibilities:

1. Annual Business Planning:

Contributes to development of short- and long-term strategy with strong risk integration

Develops, reviews, and monitors execution of Risk Strategy

Aligns functional business plan with CFO's expectations

Cascades annual plan into quarterly and monthly deliverables

2. Risk Management Governance:

Implements Enterprise Risk Framework (ERM) aligned to corporate governance standards

Develops and updates risk policies, procedures, and compliance programs aligned with ERM framework

Supports engagement with regulators, auditors and industry bodies on risk related matters

Establishes risk champions network/coordinators across the company

Provides administrative services to the Asset and Liability committee (ALCO)

3. Risk Management Context and Process:

Defines and communicates company's risk appetite and tolerance levels

Monitors emerging risks and adjusts appetite where necessary

Develops and deploys quantitative risk models to assess potential impacts on strategic objectives

Conducts strategic risk stress testing

Assesses financial risks (liquidity, investments, credit)

Coordinates underwriting risk with actuarial function to improve pricing accuracy

Strengthens internal controls, managing third-party risks, preventing fraud, and enhancing incident response and operational risk related stress testing processes

Monitors regulatory changes and ensures timely updates and implementation

Supports AML/CFT risk reporting

Manages complaints reporting

Develops and maintains a company-wide risk register to document and track key risks

4. Risk Reporting and Monitoring:

Implements key risk indicators (KRIs) and key control indicators as an early warning for identified risks

Submits integrated risk reports to the CFO and EXCO

Coordinating with the Internal Audit department, monitor and report on the resolution of audit recommendations, risk action plans and regulatory findings

Reviews the Companies' internal controls and procedures to mitigate risks and reduce exposure

Manages incident/fraud reporting

5. Business Continuity Management:

Establishes BCM and Crisis Management governance structures

Coordinates Crisis Management Committee meetings

Updates BCM and Crisis policies

Maintains BCP, DRP, and CMP aligned with ISO standards

Tests and reviews BCM/DR frameworks

Reports BCM program status to NICO Life Risk Committee

6. Strategy Execution and Performance Management:

Translates corporate strategy into actionable plans, KPIs, and aligned risk-adjusted targets

Monitors enterprise performance through integrated dashboards and insights

Supports delivery of strategic initiatives

Establishes governance frameworks for strategy review, accountability, and escalation to EXCO

Integrates risk considerations into strategy execution and monitors impact on business objectives

7. Awareness, Capacity Development and Culture Embedding:

Assesses NICO Life wide risk management training needs and develops formal risk management training program and related competence model in conjunction with People and Culture department

Conducts ERM and BCM trainings

Assigns risk ownership across departments

Promotes consistent risk terminology and awareness

Develops and updates internal theme-name(s) to the company ERM framework and monitors its effectiveness

Required Skills and Abilities:

Ability to manage and develop staff

Clear verbal and written communication and ability to prepare accurate reports

Ability to plan and organize in line with job requirements

Ability to analyze and solve work related problems to achieve the correct outcomes

Ability to interact, negotiate (where applicable) and achieve targets

Leadership skills and ability to influence a highly collaborative and proactive cross-functional team of risk coordinators

Problem-solving and decision-making abilities

Analytical and numerical skills, including risk and financial modelling

High level of integrity and ethical decision-making

Ability to cope under pressure with minimal supervision

Good communication and presentation skills

Commercial awareness – the ability to understand broad business issues

Qualifications and Experience:

A first university degree in Auditing, Accounting, Finance, Risk Management or equivalent from a reputable university

A Chartered Accountant with CIMA or ACCA or ICAM or a Certified Risk Manager or its equivalent is desirable

At least six (6) years' experience in Audit, Finance or Enterprise Risk Management (ERM), five (5) of which must have been at Management level

Application Procedure:

Applications and curriculum vitae including names and contacts of three traceable referees must reach the address below by 1st July 2026 either by post or email.

Email: vacancies@nico-life.com

Address: Head of People & Culture - Insurance sector, NICO Life Insurance Company Limited, P.O. Box 3044, BLANTYRE

Only short-listed applicants will be acknowledged.