Risk Officer

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Old Mutual is a firm believer in the African opportunity and our diverse talent reflects this.

Job Description

An exciting opportunity exists for a mid-level Enterprise Risk Specialist to take the next step in their career within the Enterprise Risk Management (ERM) team in OML Group Risk. This Cape Town–based Line 2 role reports to the Senior Risk Officer and offers exposure to enterprise-wide risk management, senior stakeholders and Board-level governance.

The Enterprise Risk Specialist will partner with and provide independent oversight and constructive challenge to Line 1 management, ensuring that risks are effectively identified, managed and monitored in line with the Group’s risk strategy, risk appetite and control standards. The role also forms part of an ERM Centre of Excellence, contributing to the continuous evolution of a future-fit risk function.

Key Result Areas

Advisory & Risk Partnership

• Partners, supports and advises Line 1 management across the value chain to embed effective risk management practices.

• Contribute to, and where necessary, challenge the alignment of the business level strategies with the OML Group strategy, risk strategy and risk-return framework.

• Provide constructive challenge and advice on alternative or additional management actions to ensure residual risk remains within appetite.

Risk Management & Control Environment

• Advise Line 1 management on the design and enhancement of risk management processes and controls to manage risks.

• Ensure consistent implementation of the risk management lifecycle (identify, assess, respond, monitor and report risks) at business unit level.

• Monitor and assess the adequacy and effectiveness of the risk management system, internal control environment and the accuracy and completeness of risk reporting.

• Provide insight to enable the prioritisation of remediation actions for control weaknesses.

• Ensure risk limits breaches/risk events are identified, escalated and addressed timeously; and challenge the effectiveness of corrective actions.

• Apply independent challenge and form a Line 2 opinion on the business unit’s risk profile and control environment.

• Support the rollout and embedding of risk strategies, frameworks, and policies in line with OML requirements.

• Support Line 1 management with quarterly and annual risk processes.

• Provide support to business unit management in carrying out risk-related responsibilities and influencing risk-based decision making.

Reporting

• Define and maintain standards and requirements for risk reporting. 

• Prepare and present Line 2 risk reports to Executive and Senior Management Forums, as well as Board Meetings and Committees.

Risk Culture

• Positively influence and strengthen the risk culture within assigned business units.

• Support Line 1 management in identifying and implementing actions to enhance risk awareness and accountability.

Centre of Excellence Activities

• Contribute to one or more ERM Centre of Excellence initiatives, including operational risk management activities.

• Participate in risk deep-dives, thematic reviews, and execute assessments of strategic programs.

Qualifications, Skills and Experience

• Bachelor’s degree required.

• CA(SA) or a professional tertiary qualification in risk management, audit, operations/engineering will be advantageous.

• 4–7 years’ experience in enterprise risk, internal audit, or risk advisory, preferably within financial services, particularly in Wealth and Investment management.

• Sound understanding of ERM frameworks, Line 2 oversight, risk appetite and internal controls.

• Strong analytical, stakeholder engagement and communication skills, with the ability to provide constructive challenge.

• Experience with Boards and Executive/Senior level forums and stakeholders.

• Change resilience is critical, to support Line 1 management with a constantly changing environment.

• A curious, proactive mindset with a keen interest in emerging risks and evolving risk practices.

Skills

Action Planning, Analytics Software, Budget Management, Computer Literacy, Data Analysis, Database Reporting, Data Compilation, Data Controls, Data Interpretations, Evaluating Information, Management Reporting, Numerical Aptitude, Report Review, Solution Analysis

Competencies

Business Insight

Courage

Decision Quality

Ensures Accountability

Financial Acumen

Instills Trust

Manages Complexity

Optimizes Work Processes

Education

Bachelors Degree (B) (Required)

Closing Date

05 February 2026 , 23:59

The appointment will be made from the designated group in line with the Employment Equity Plan of Old Mutual South Africa and the specific business unit in question.

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