• Job Description

  Req#: R-15971684

  Empowering Africa’s tomorrow, together…one story at a time.

  With over 100 years of rich history and strongly positioned as a local bank with regional and international expertise, a career with our family offers the opportunity to be part of this exciting growth journey, to reset our future and shape our destiny as a proudly African group.

  My Career Development Portal: Wherever you are in your career, we are here for you. Design your future. Discover leading-edge guidance, tools and support to unlock your potential. You are Absa. You are possibility.

  Job Summary

   The Head of Operational Risk and Resilience supports business management in the identification and effective management of risks to which their Business/Function may be exposed, ensuring that an effective control environment exists and is actively managed across all areas of responsibility with a view to reducing operational losses and improving Business effectiveness.
  
   The Head of Operational Risk and Resilience has responsibility for implementing all aspects of the Operational Risk Management Framework which aims to achieve the objective set out above.
  
   The Head of Operational Risk and Resilience supports business management in the identification and effective management of risks to which the Bank may be exposed, ensuring that an effective control environment support exists which is actively managed across all areas of responsibility with a view to reducing operational losses and improving Business effectiveness.
  
   The Head of Operational Risk and Resilience has responsibility for implementing all aspects of the Operational and Resilience Risk Management Framework (ORRMF) and support Risk in managing the requirements of the Enterprise Risk Management Framework (ERMF).
  
   This role has the mandate to partner with 1LOD, 2LOD Risk Owners, Internal Audit Partners, as well as in country Business and Risk owners to address the Operational risk environment with focus on the Technology and Cyber space for effective risk management.
  
   Guide the Country through the implementation of the Operational Risk Management Framework and oversee the maintenance of risk and control practices across the businesses.
  
   Provide oversight and independent robust challenge to risk decision making and review the risk profile of the businesses against risk appetite and performance measures and agree actions to change the shape of the profile where appropriate.
  
   Special Focus in terms of the Security and Technology risk requirement deliverables s as per the group and regulatory environment

  Job Description

  Accountability: Strategy & Governance

  • Develop local operational and resilience risk policies, guidelines and tools ensuring alignment with AGL policies and frameworks.

  • Establish risk appetite in conjunction with the business, ensuring exposure is maintained in line with this appetite based on a balanced risk/reward decision.

  • Drive the embedding of the Enterprise Risk Management Framework (ERMF) and Operational & Resilience Risk Framework (ORRMF), promoting the integration of operational risk measurement into all risk reward decisions and general business management.

  • Lead the definition, implementation and assurance of governance arrangements across the business, ensuring these are continuously reviewed, evaluated and monitored in line with prevailing and changing regulations/ business needs.

  • Deliver value-adding risk assessments and advice to strategic/other change projects and new products to ensure changes to the business risk profile are properly quantified and mitigated/managed within agreed risk appetite.

  • Drive senior leaders to make risk informed key business and strategy decisions through their understanding of the business and their role in the governance of the business through Second line interaction and involvement in key committees/forums.

  • From a strategic perspective, Trusted advisor for shared ownership deliverables in support of business strategy.

  • Analyze risk information and provide advice and recommendations on emerging risks, trends and early detection of control failures.

  • Remain proactive and compliant in the Technology and Security/Cyber space with value-add guidance/recommendation to management

  Risk and Management
  

  • Support process of design and implementation of Key Risk Indicators (KRIs) at SBU and Cluster level with value-add input.

  • Implement an agreed programme of operational risk assessments (CPAs and RCSAs) across the Business to identify the key business process risks, determine the effectiveness of operational controls and drive out remedial actions for improving the business’ control framework.

  • Develop Key Risk Scenarios in conjunction with the relevant Business Risk Owners to inform the Cluster view which drives the allocation of Economic Capital to better manage operational risk.

  • Ensure full and accurate reporting of risk events by the Business. Conduct post incident reviews and produce relevant MI to analyse root causes and ensure learning points are identified and any necessary remedial action is implemented with a view to improving Business processes and reducing Operational losses.

  • Conduct risk assessments (including due diligence where required) together with the Business over material change programmes and new products with a view to identifying material risks and ensuring that adequate controls are in place. Ensure that Day 1 and 2 actions are appropriately monitored and carried out.

  • Annual approval of the ERMF by the Board.

  • Monitor RTS plans per risk type. Review evidence to support ratings provided to ERCs and SARB.

  • Develop and enable automated reporting; introduce appropriate value add digital tools to in country users and share thematic failures and root causes across countries.

  • Deliver value-added MI, specifically Key Risk Indicator trends, and analysis of the drivers of operational risks to help business and senior management better manage operational risk and the associated capital charges.

  • Support the Country teams to implement the required Basel framework as prescribed by the Regulator.

  • Provide insightful analysis and interpretation of risks to the First and Second Line based on a thorough technical understanding of the Operational Risk Management Framework (ORMF).

  • Deliver a robust operational outcome with relevant knowledge of the business and a deep/broad external market view on risk theories and current best practice.

  • Advanced support in the Technology and Cyber space delivering as per regulatory/group requirement with focus on:

  • Embedding regulatory framework along with adherence to any group policies

  • Implementation of cyber resilience measures including third party requirements

  • Board Reporting for Enterprise-Wide risks being addressed

  • Designing and updating the contingency plan with regards to cyber and technology issues

  • Implementation of cyber resilience measures

  • Ensuring that there is an adequate process in place to report and address cyber-related queries from internal and external parties

  • Investigation of cyber incident with ongoing monitoring of the evolution of the threat landscape including current and emerging risks

  • Developing relevant cyber and technology security awareness and training programmes.

  Leadership and Team Management

  • Design the people risk management strategy for the in country Operational & Resilience Team with a focus on talent management, development, resourcing and retention, ensuring resource allocations are commensurate with growth/focus areas.

  • Build and maintain a succession plan for the team.

  • Directly manage and develop a high performing team of operational risk partners, providing direction, support and coaching as required.

  • Lead the team to improve risk management through digitisation, automation, standardisation and simplification.

  • Champion governance, risk and control best practice, developing an appropriate risk culture across the business.

  • Promote a culture of sound conduct and service excellence in all dealings with internal clients (and external parties as appropriate) as well as wider risk team.

  • Encourage frequent knowledge sharing between team members

  • Role model the Absa values and embed them through the function, enabling colleagues to operate and demonstrate the values at all times.

  • Collaborate with peers and wider risk team to demonstrate effective leadership support

  • Provide superior thought leadership to the senior First and Second Line management through the use and evolution of risk frameworks to deliver effective risk management to the business and through the education of the senior management team in effective risk management.

  • Support and challenge the First Line at senior levels using superior influencing and negotiating skills to identify, assess and control emerging risks prior to material P&L impact.

  • Ability to establish trust, value and grow the team to achieve their full potential.

  • Develop and promote a risk-smart team and environment to ensure that Business has the capacity and tools to be innovative while recognizing and respecting the need to be prudent in protecting the Bank and its customers’ interest.

  Stakeholder Engagement Model

  • Provide guidance and support to the Business in raising awareness and understanding of operational risk and governance. This may involve making presentations/training sessions to staff, as well as coaching and informal training as required.

  • Provide guidance and support to the Business in advance of internal (and occasional external) audits to reflect a proactive environment.

  • Provide review and robust challenge to the Business Owners in respect of control weaknesses and risk exposures.

  • Risk Management support through value-add engagement including providing Subject Matter Expertise to Risk types.

  • Develop & maintain an effective relationship at the appropriate level with the Business with a view to embedding effective risk management processes.

  • Support Business to deliver the requirements of the ORMF in terms of policies and its supporting Standards.

  • Act as focal point on Operational and Resilience Risk matters with the Regulator, whether in Mauritius or in South Africa, particularly with regards to Information and Security issues.

  • Review changes to policy, procedures and regulations for appropriate changes to monitoring processes and implement appropriate amendments.

  • Advise and support the business in respect of other operational and resilience risk/control related matters e.g. Management assurance, internal and external audits and regulatory inspection.

  • Support an effective risk culture, where there is an open, proactive, and constructive dialogue relating to Operational Risk.

  • Develop and maintain relationships with key Executives/Senior Business leaders across the business to drive ownership and awareness of operational and resilience risk and to promote a proactive risk/reward approach to the management of operational and resilience risk.

  • Establish and maintain effective contacts with key regulatory and industry bodies on operational and resilience risk matters (e.g. approach to Basel 4).

  • Lead the cultural change required to integrate operational risk measurement into all risk reward decisions and general business management

  Risk and Control

  Mandatory Risk and Control Objective

  Ensure that all activities and duties are carried out in full compliance with regulatory requirements, Enterprise-Wide Risk Management Framework and internal Absa Policies and Policy Standards. Understand and manage risks and risk events (incidents) relevant to the role .

  Role/Person Specification

  Preferred Education:

  • Degree in the fields of Risk, Accounting, Economics, Technology with 9 years relevant experience at managerial level or Masters degree with min 5 years relevant exp at managerial level or equivalent of 12 years bank related experience.

  Preferred Experience:

  • Proven experience (minimum 5 years) gained in the Bank and/or a similar financial institution

  • Experience across many parts of the risk process e.g. audit, Group Centre, regulation, risk control, operations, technology and cyber etc.

  Knowledge & Skills:

  • A working knowledge and understanding of the markets in which Global Retail and Commercial Banking operates e.g. customer base and competitors in general and products and services.

  • A practical knowledge and understanding of risks, controls, risk management tools and methodologies.

  • A good understanding of the main operational processes within the Businesses and a good understanding of the procedures and control framework relating to those areas.

  • A detailed understanding of risk principles, processes and techniques and their practical application.

  • Knowledge of regulatory frameworks and legislation eg., Basel IV would be helpful.

  • Good understanding of Financial Markets.

  • Knowledge of risk and control techniques, including fraud prevention and management.

  • Advanced awareness in Technology and Digital channels plus a proven record in Security/cyber related developments.

  Technical Competencies:

  • Ability to analyse MI and provide reports capable of identifying key areas of concern.

  • Proven analytical mindset and approach.

  • Broad knowledge of Microsoft Office particularly Microsoft Excel.

  • Capability to operate across a spectrum of Businesses applying risk skills and expertise to different Business processes.

  Behavioural Competencies:

  • Proven effective communication skills involving staff at all levels of seniority and also involving external audiences.

  • Good time management and organisational skills

  • Team leadership and management

  ABSA Values

  The ABSA Values provides a framework for how we in ABSA work together and how we serve our customers and the communities we are in:

  • Trust

  • Resourceful

  • Stewardship

  • Inclusion

  • Courage

  Education

  Bachelor`s Degrees and Advanced Diplomas: Services (Required)

• About the company

  Absa Group Limited, and originally Amalgamated Banks of South Africa, is a South African-based financial services group, offering personal and business banking, credit cards, corporate and investment banking, wealth and investment management, as well a...

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