Risk Officer

Risk Officer

Employment Type: Full-Time

About the Role

We are looking for a detail-oriented and analytical Risk Officer to identify, assess, monitor, and manage risks that may affect the company’s financial performance, operations, regulatory compliance, and reputation.

The Risk Officer will support Management in maintaining effective risk management processes, with particular focus on credit/financing risk, operational risk, compliance risk, internal controls, and emerging business risks. The role will also provide timely risk reporting and practical recommendations to support sound business decisions.

Key Responsibilities:

Risk Identification & Assessment

• Identify and assess financial, credit, operational, compliance, and reputational risks affecting the company.
• Conduct risk assessments for new and existing business activities, products, clients, and transactions.
• Review business processes to identify potential areas of risk exposure.
• Maintain an up-to-date risk register and monitor identified risks.

Credit & Financing Risk

• Review and assess the risk profiles of prospective and existing customers and transactions.
• Support the assessment of financing requests by reviewing relevant financial, operational, and customer information.
• Monitor loan and financing portfolios for signs of deterioration, default, or other risk indicators.
• Identify early warning signs and escalate potential problem accounts to Management.
• Review adherence to approved credit/financing conditions and limits.

Risk Monitoring & Internal Controls

• Monitor the effectiveness of existing internal controls and recommend improvements where necessary.
• Conduct periodic reviews of business processes to identify control weaknesses, gaps, or potential losses.
• Track key risk indicators and ensure appropriate mitigation measures are implemented.
• Follow up on outstanding risk issues and corrective actions.

Compliance & Regulatory Risk

• Support the identification and management of regulatory and compliance risks.
• Monitor compliance with applicable regulatory requirements, internal policies, procedures, and approved limits.
• Work with relevant departments to address identified compliance gaps promptly.
• Assist with regulatory reviews, audits, inspections, and compliance-related documentation.

Risk Reporting

• Prepare periodic risk reports for Management.
• Maintain records of identified risks, incidents, control issues, and mitigation actions.
• Provide timely information on significant or emerging risks.
• Track key risk indicators and highlight material changes in the company’s risk profile.

Operational Risk

• Identify risks arising from people, processes, systems, technology, and external events.
• Document and monitor operational incidents and losses.
• Recommend measures to reduce operational errors, fraud, process failures, and other avoidable risks.
• Support business continuity and risk preparedness initiatives.

Risk Policies & Procedures

• Assist in developing, reviewing, and updating risk management policies, procedures, frameworks, and risk appetite.
• Ensure risk management practices are properly documented and communicated to relevant staff.
• Promote risk awareness across the organization.

Audit & Review Support

• Support internal and external audits by providing required risk-related information and documentation.
• Follow up on audit findings relating to risk management and internal controls.
• Assist Management in implementing agreed corrective actions.

Advisory Support

• Provide risk-related advice to Management and relevant departments when required.
• Participate in meetings where risk-related matters are discussed.
• Monitor emerging risks within the financial services sector and advise Management accordingly.
• Perform other risk management duties as assigned by Management.

Requirements

Education

• Bachelor's Degree or HND in Risk Management, Finance, Accounting, Economics, Business Administration, Banking and Finance, Statistics, or a related discipline.
• Professional certification in Risk Management, Banking, Finance, Accounting, or a related field is an added advantage.
• 2–4 years of relevant experience in risk management, credit, financial services, internal control, audit, or compliance.
• Experience in a financial institution, investment company, lending/financing company, or similar organization is an advantage.
• Practical understanding of credit assessment, risk monitoring, internal controls, and regulatory requirements.

Key Skills & Competencies

• Risk identification and assessment
• Credit and financial analysis
• Strong analytical and problem-solving skills
• Attention to detail
• Internal control and compliance awareness
• Report writing and documentation
• Proficiency in Microsoft Office, particularly Excel
• Ability to interpret financial and operational information
• Strong communication and interpersonal skills
• Ability to work independently and meet deadlines
• Integrity, confidentiality, and sound professional judgment
• Ability to identify issues and recommend practical solutions

Key Performance Areas

Performance in this role will be assessed based on:

• Timely identification and escalation of material risks.
• Accuracy and timeliness of risk reports.
• Effective monitoring of credit/financing exposures.
• Proper management and reduction of operational risk incidents.
• Timely closure of identified control and compliance gaps.
• Effectiveness of risk mitigation recommendations.
• Maintenance of an accurate and current risk register.
• Compliance with approved risk policies, procedures, and limits.
• Quality of risk-related support provided to Management.

Key Stakeholders

The Risk Officer will work closely with:

• Managing Director
• Finance/Accounts Department
• Operations Department
• HR/Admin Department
• Business Development/Marketing Team
• Internal and External Auditors
• Regulatory and other relevant stakeholders

Work Location: In person