First Mutual Reinsurance Holdings
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Job Title:
1. General Manager – East and Central Africa
2. Chief Risk Officer – Finance and Reinsurance Markets
The Chief Risk Officer (CRO) will be responsible for the implementation and oversight of the enterprise risk management framework and risk culture of the Group.
Job Summary
- Type: full-time
- Location: Gaborone
- Category: Risk Management
- Closing Date: 2026-07-11
Key Responsibilities
- Designs and implements enterprise risk management framework, policies, and guidelines across the Group.
- Works with Group management on risk appetite and maintains key risk registers.
- Ensures effective controls to mitigate risks, and develops risk awareness in the Group.
- Monitors exposure to all company risks and ensures risk identification, evaluations, and reporting.
- Manages regulatory risk including compliance and statutory reporting.
- Offers advice to management and the Board on all risk matters.
- Engages with external stakeholders on risk and regulatory requirements.
- Leads in business continuity planning and disaster recovery programs.
Requirements
- Degree in Risk Management, Finance, Accounting, or related field.
- At least 10 years relevant working experience, five of which should be at a senior management level preferably in insurance/reinsurance.
- Professional qualification (e.g. CFA, CIA, CERA) an added advantage.
- In-depth knowledge of enterprise risk management, regulatory requirements, and insurance/reinsurance industry.
- Strong analytical and problem-solving skills.
How to Apply
Interested candidates should email applications together with CVs to:
Email: careers@firstmutualholdings.com
Email: careers@firstmutualholdings.com
Deadline for applications: 12 June 2024
About the Company
First Mutual Reinsurance Holdings operates as a key financial services company with a direct presence in Botswana. The company specializes in offering comprehensive reinsurance solutions, playing a vital role in supporting the local insurance sector and enhancing its stability. As part of its strategic development, the Botswana entity saw significant advancements in 2020. This included a 29.1% subscription by Aleyo Capital, a move that further solidified its capital base and operational reach within the nation.
Providing robust reinsurance solutions to the Botswana market.
Website: https://firstmutualholdingsinvestor.com/first-mutual-holdings-abridged-circular-to-shareholders/
Frequently Asked Questions
What qualifications and certifications are typically required for a Chief Risk Officer in the finance and reinsurance markets in Botswana?
Candidates usually need a Master's degree in Finance, Business Administration, Actuarial Science, or a related field. Relevant professional certifications such as FRM (Financial Risk Manager), PRM (Professional Risk Manager), or CERA (Chartered Enterprise Risk Analyst) are highly valued. Extensive experience in regulatory compliance, particularly with Botswana's Non-Bank Financial Institutions Regulatory Authority (NBFIRA) guidelines, is crucial.
What are the common day-to-day responsibilities for a Chief Risk Officer in Botswana's reinsurance sector?
Daily tasks involve overseeing risk identification, assessment, mitigation strategies, and monitoring across all business units, ensuring alignment with the organisation's risk appetite. This includes managing market, credit, operational, and strategic risks, while ensuring compliance with local regulations and international best practices. A significant portion of the role also involves reporting to the Board and senior management, and fostering a strong risk-aware culture.
What is the local work culture like for a senior executive in Botswana's financial sector, especially concerning risk management?
Botswana's financial sector values professionalism, strong ethical conduct, and adherence to robust governance principles. Collaboration across departments and clear communication are key, often emphasizing a methodical approach to decision-making and consensus-building. Expect a work environment that prioritizes regulatory compliance and prudent risk-taking, often with significant focus on stakeholder engagement, including with NBFIRA.
What are the typical career progression paths for a Chief Risk Officer in the finance and reinsurance markets in Botswana?
A CRO can progress to more overarching executive roles such as Chief Operating Officer, Chief Financial Officer, or potentially Managing Director within the financial services sector. Opportunities may also arise to serve on various corporate boards or transition into a senior consulting role focusing on governance, risk, and compliance for institutions across Botswana and Southern Africa.
What kind of benefits package can a Chief Risk Officer expect in Botswana, covering aspects like leave, medical aid, and pension?
Senior executive roles typically include a comprehensive benefits package, often featuring generous annual leave, robust medical aid coverage for the employee and their dependents, and a strong pension fund contribution. Other common benefits may include a company car or car allowance, performance-based bonuses, and group life insurance.
What is the application process typically like for senior roles in Botswana, and what do employers look for in a successful candidate?
The application process usually involves submitting a detailed CV and cover letter, followed by multiple interview rounds and potentially psychometric assessments. Employers seek candidates with proven leadership skills, extensive experience in risk management within financial institutions, and a deep understanding of Botswana's regulatory landscape. Strong communication, strategic thinking, and a commitment to ethical governance are also highly prized.