Description

WHO WE ARE

A modern and agile company with the most finely meshed international network, Coface is a reference in credit insurance and risk management. With over 70 years of experience as an industry leader, and a team of 4,100 experts in 100 countries, serving around 50,000 companies, Coface experts work to the beat of the global economy. Its ambition is to become the most agile, global trade credit insurance partner in the industry. We believe in business as a force for good in the world.

We support our clients everywhere they operate, protecting and helping them take the credit decisions necessary to strengthen their ability to sell on their domestic and export markets. Sharing a passion for trade, we want to collaborate with our clients to build successful, growing and more dynamic businesses. And by helping build stronger businesses, we contribute to the smooth-running of the economy. This is our purpose.

THE JOB

The Regional Risk Manager will be responsible for the Risk Management Framework, including the Internal Controls Framework, Risk Culture through the adoption of the three lines of defense Level 2 Control processes and communicate to senior management risk situations. The Regional Risk Manager is an integral part of Coface Global ERM and reports to the Group Risk Director.

The Regional Risk Manager also serves as the local representation to the Group Risk Management Department. They manage the Operational Risk Manager located in Canada and has regular communications and relationships with other Risk managers at Group level (48 people) regarding Group risk approach and methodology, cyber awareness and common topics to tackle and monitor.

RESPONSIBLITIES:

• Risk assessment
  • Defines, categorizes and identifies from all sources the risks by type/category (e.g business sector, business activity and of the company), associated major components (economic, financial and regulatory) and controls in place.
  • Defines the approved risk tolerance limits for each type/category of risk.
  • Develops the consolidated risk cartographies to be communicated to the regulators, Senior Leadership, Regional Risk Committee and Head of Business functions.
• Risk management
  • Contributes to review and implementation of local and group risk management policies in the region with regard to the following: underwriting and reserving risk, asset-liability management, investment risk, liquidity risk, concentration risk, reinsurance and other mitigation techniques, as and when required.
  • Acts as administration for the Internal Controls Framework and GRC tool (Enablon). Performs second level controls on policies, procedures, systems and processes within established frequency (e.g quarterly, monthly).
  • Develops appropriate risk reporting (oral and written presentations to communicate results, findings and, where required, an Action Plan.
  • Manages the reporting, investigation and root cause analysis of operational incidents and losses. Update GRC tool (Enablon). Communicate on operational incidents and action plans on a quarterly basis.
  • Follows up the implementation of recommendations within the established timeframe.
  • Produces reports on completion of actions plans. Identify corrective action if not worked throughout the period under review and document agreed-upon remedial measures. Notify management on breaches, where required.
  • Carries out quality maturity analysis.
• Monitoring & Reporting
  • Monitors risk and controls.
  • Reviews and updates the risk register on regular basis from description of the risk to controls and actions currently in place, and key risk indicators.
  • Stays current with evolving with Coface developments, industry and regulatory changes to assist in the early identification of emerging risk issues.
  • Maintains an active reporting line on key risk information to regulators, senior management, governance bodies, and Regional Risk Committee and Head of Business functions.
• Communication
  • Drafts internal communication concerning risk management issues and ensure distribution through appropriate internal channels.
  • Develops Risk Culture through building relationship, and conducting risk awareness communication and training.
  • Develops and contribute to reports to risk committees, senior management and regulatory authorities.
• Advice and liaison
  • Develops/leads/participates to a network of risk correspondents through ad-hoc tools to gather risk information and enable sharing best practices on actions carried out, deployment timetables, and return on experience.
  • Acts as an internal subject matter expert and develop capability to provide the management and department’s assistance on any related risk management issues, as required.
  • Maintains a fluid collaboration with other local and group corporate insight functions (e.g Underwriting, Legal, Compliance, Audit, Finance, Commercial, Claims, Business Technology) to develop and disseminate critical information on emerging risks, potential accumulations, interactions and implement consistent and effective approaches to risk governance and control based activities. Assist in drawing up the audit plan, if required;
• Business Continuity and Crisis Management
  • Contributes to the definition, implementation, testing, training and communication concerning disaster recovery and business continuity planning.
  • Updates GRC tool (Enablon).

• Solvency assessment
  • o Collects, manages and validates data from different business areas and entities for periodic production and review of the scenario analyses as required.
  • o Assists in the development of Local solvency metrics (RBC and BAAT Ratio).
  • o Participates to the ORSA design (scenario) and its application across the business.
  • o Manages the ORSA process for US and Canada and produce the ORSA report (risk profile and appetite, assessment of capital, stress and scenario testing, forward looking assessment).
• Budget
  • Manages and controls departmental expenditure within agreed budgets, where applicable.
• Project management
  • Leads/participates in a project team (planning, fieldwork and reporting phases) related to risk management and/or control based activities, if required.
• Compliance
  • Ensures compliance with the Group Risk rules and Charter as well as with regulations laid down by Coface and external bodies.
  • Ensures Level 2 controls are performed on time.
  • Analyzes control results and implement solutions to reduce exposure.
  • Analyzes risk situations and operational incidents and implement corrective solutions with the departments.
  • Completes annual risk mapping campaign.
  • Tracks corrective measures for timely implementations for operational incidents and action plans.
  • Relays the risk status and incidents to parent company risk department.
  • Manages and completes local regulatory filings.
  • Compliance with Cybersecurity regulations.
• Insurance Policies
  • Oversees the review and negotiation of Corporate Liability, Workers Compensation and Property insurance policies. Manage Broker relationship. Liaise with Group on local insurance program and Group insurance policies.

THE CANDIDATE

The successful candidate will have the following qualifications:

• 5-7 years of insurance, financial, accounting and/ or risk management experience, preferably in the financial services industry.
• Bachelor’s degree in Business Administration with a specialization in Finance, International Business and/or Risk Management preferred.
• Self-starter who is customer focused, internally motivated, intellectually curious, and self-confident.
• Superior spreadsheets skills and a good working knowledge of Microsoft Office suite, in particular MS Excel. Utilize other analytical, collaboration, and reporting tools to innovate on internal processes
• Ability to work independently while representing the department with the highest level of professionalism.
• Superior collaboration skills. Works well and builds trust within the risk team and with teams across the organization.
• Demonstrated ability to establish and maintain positive relationships across the enterprise.
• Knowledge of Insurance financial accounting principles, practices and procedures.
• Excellent written, verbal communication and presentation skills are required.