Location: Blantyre, Malawi

OVERVIEW

NICO Life Insurance Company Limited (NICO Life), a leading provider of innovative life insurance solutions, is an equal opportunity employer where diversity and inclusion are integral to its business, culture, and identity.

NICO Life is inviting applications from suitably qualified candidates for the position of Risk Manager, based at its Head Office in Blantyre.

Reporting to the Chief Finance Officer (CFO), the successful candidate will be responsible for leading the company’s Enterprise Risk Management (ERM), Business Continuity Management (BCM), governance, compliance, and strategic risk initiatives.

KEY RESPONSIBILITIES

1. Annual Business Planning

• Contribute to the development of short and long-term business strategies with strong risk integration.
• Develop, review, and monitor implementation of the Risk Strategy.
• Align departmental plans with the CFO’s strategic expectations.
• Translate annual plans into quarterly and monthly deliverables.

2. Risk Management Governance

• Implement and maintain the Enterprise Risk Management (ERM) Framework.
• Develop and update risk management policies, procedures, and compliance programmes.
• Coordinate engagement with regulators, auditors, and industry bodies on risk matters.
• Establish and manage a company-wide network of risk champions.
• Provide administrative support to the Asset and Liability Committee (ALCO).

3. Enterprise Risk Management

• Define and communicate the company’s risk appetite and tolerance.
• Monitor emerging risks and recommend adjustments where necessary.
• Develop quantitative risk models and conduct strategic stress testing.
• Assess financial risks including liquidity, investments, and credit risk.
• Coordinate underwriting risk with the actuarial function.
• Strengthen internal controls and manage operational, third-party, and fraud risks.
• Monitor regulatory changes and ensure timely compliance.
• Support AML/CFT risk reporting.
• Manage complaints reporting.
• Develop and maintain the company-wide risk register covering strategic, operational, product, asset, and system risks.

4. Risk Reporting and Monitoring

• Develop and monitor Key Risk Indicators (KRIs) and Key Control Indicators (KCIs).
• Prepare integrated risk reports for the CFO and Executive Committee (EXCO).
• Monitor implementation of audit recommendations, risk action plans, and regulatory findings.
• Review internal controls and recommend improvements.
• Manage incident and fraud reporting.

5. Business Continuity Management

• Establish Business Continuity Management (BCM) and Crisis Management governance structures.
• Coordinate Crisis Management Committee meetings.
• Review and update BCM and Crisis Management policies.
• Maintain the Business Continuity Plan (BCP), Disaster Recovery Plan (DRP), and Crisis Management Plan (CMP) in line with ISO standards.
• Conduct regular BCM and Disaster Recovery testing.
• Report BCM programme performance to the NICO Life Risk Committee.

6. Strategy Execution and Performance Management

• Translate corporate strategy into measurable action plans and KPIs.
• Monitor enterprise performance using integrated dashboards.
• Support delivery of strategic initiatives.
• Establish governance frameworks for strategy reviews and accountability.
• Integrate risk considerations into strategy execution.

7. Risk Awareness and Culture

• Assess company-wide risk management training needs.
• Develop and deliver ERM and BCM training programmes.
• Assign risk ownership across departments.
• Promote a strong risk management culture and common risk terminology.
• Develop and maintain internal ERM awareness initiatives.

REQUIRED SKILLS AND ABILITIES

• Strong leadership and people management skills.
• Excellent verbal and written communication skills.
• Report writing and presentation skills.
• Strong planning and organizational abilities.
• Analytical, problem-solving, and decision-making skills.
• Financial analysis and risk modelling capability.
• Negotiation and stakeholder management skills.
• Commercial awareness and sound business judgment.
• High level of integrity and ethical conduct.
• Ability to work under pressure with minimal supervision.
• Ability to influence cross-functional teams.

QUALIFICATIONS AND EXPERIENCE

Applicants must possess:

• A Bachelor’s Degree in Auditing, Accounting, Finance, Risk Management, or a related discipline from a recognized university.
• Professional qualification such as CIMA, ACCA, ICAM, Certified Risk Manager, or equivalent (desirable).
• Minimum of six (6) years’ experience in Audit, Finance, or Enterprise Risk Management.
• At least five (5) years of the required experience must have been at management level.

HOW TO APPLY

Interested candidates should submit:

• Application letter.
• Updated Curriculum Vitae (CV).
• Names and contact details of three (3) traceable referees.

Applications should reach the address below on or before 1st July 2026.

SUBMIT APPLICATIONS TO

Head of People & Culture – Insurance Sector
NICO Life Insurance Company Limited
P.O. Box 3044
Blantyre, Malawi

Email: va•••••••@••••••.com

Only shortlisted applicants will be acknowledged.