Risk Officer

Insurance World is Ours

NIC Life Assurance Company Limited is a wholly owned subsidiary of NIC Holdings Limited. NIC Life Assurance was incorporated on 3rd March, 2014 and took over the Life insurance businesses of NIC in compliance with the legal requirement for separation of insurance businesses under the Insurance (Amendment) Act.


NIC Life Assurance is looking for an experienced person to take up a position of Risk Officer.


 Job Title         :           Risk Officer

Reports to      :           Head Risk

Purpose         :           The Risk officer will be responsible for coordination of the company-wide application of ERM framework nm, advise Management on any potential risks that may expose the company to penalties, financial forfeiture and material loss.


Key Result Areas:

The responsibility includes managing the risks associated with the organization employees, clients, reputation, assets and interests of stakeholders. As such S/he will interface with a number of activities and processes that potentially have effects that can result into:

  • Enterprise/Operational risks
  • Information security risks and cyber threats
  • Business continuity risks
  • Corporate governance risks
  • Regulatory and legal risks
  • Technology risks
  • Financial risks
  • Reputational damage


  • Conduct risk profiling and assist functional managers in updating risk registers.
  • Conduct regular validation exercises for the Risk Control self-Assessments (RCSA)
  • Identify and assess the risks associated with the organization’s current and proposed products, business-relationships and any changes to business operations.
  • Assist in developing, review and update of the risk appetite framework for NIC life.
  • Develop and implement risk mitigation and control measures.
  • Monitor the progress of risk mitigation activities.
  • Follow-up with management and provide a status report on implementation of Audit and regulatory recommendation.
  • Provide an independent evaluation of the results of BCM tests conducted and establish mitigations for identified Business continuity gaps.
  • Prepare and submit monthly and quarterly reports to the risk manager for review.
  • Monitor compliance with internal policies, procedures and guidelines by performing regular and comprehensive risk assessment and testing; report the results on a regular basis.
  • Develop and execute the compliance risk management plan.
  • Conduct internal reviews of policy and compliance to standards.
  • Manage and report compliance breaches and exposures. Ensure corrective actions are taken by the process owners.
  • Compile and submit compliance statutory and supervisory reports to the relevant regulatory bodies.
  • Promote a compliance culture within the business and take responsibility for training staff.
  • Enhance and promote a compliance culture through awareness activities.

Rrequired, skills, and abilities

  • Ability to produce results under minimal supervision.
  • Problem-solving and decision-making abilities
  • Analytical skills and a good eye for detail
  • Planning and organizational skills
  • Good communication and presentation skills
  • Numerical skills
  • Ability to understand broad business issues.
  • Ability to run workshops and trainings.

Educational requirements

  • Bachelors, Accounting, Finance, or any related business field and 1-2years experience.
  • Any certification in risk management is an Added advantage.


Job application procedure:

If you have the aforementioned professional and academic qualifications and you are ready to execute the above mandate, kindly send your resume to the email address below indicating on the subject of your email the job title. For example: Ref: Application for Risk Officer.
Strictly apply through email: vacancy@nic.co.ug

The application should reach us by Thursday, 23rd November 2023 at 5PM.

Please note that only short-listed candidates will be contacted.

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