Senior Manager: Operational Risk
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.
Job Summary
Accountable to the Head of Absa Forensics and Physical Security for the Operational Risk Management of all the functional areas within AFS. Key accountabilities include supporting the functional Heads within AFS to manage Operational Risk by ensuring contributions towards functional strategies, operating models, and control design. The key purpose of this role is to ensure that the risk profile and control environment are effectively managed in an integrated manner across the function within the Group, this includes ensuring day-to-day management of all risks under the ERMF as it relates to the Function and taking the lead on the following function’s primary risks.
Job Description
Accountability: Leadership and Stakeholder Management
- In collaboration with the head of AFS and 2nd LoD Risk Oversight, act as a trusted advisor to the function and support risk activities.
- Ensure implementation of an effective Operational Risk Management strategy within the function.
- Ensure proper delivery of Risk Management Requirements, capabilities, and oversight across the various functional areas within AFS.
- Provide support to the functional areas within AFS to manage their primary risks.
- Build effective working relationships with key stakeholders and ensure information flows across the function and the risk team within the Group. Display role model behaviors, inspiring others to work together to achieve the strategic vision.
- In collaboration with the 2nd LoD, identify risks, and draft reports on behalf of the function head of risk for presentation and or escalation at the relevant risk committee within AFS i.e. OpsCo and StratCo.
- In collaboration with the 2nd LoD, determine appropriate Key Risk indicators (where necessary) while ensuring implementation of Group KRI for the relevant sub-risk types.
- Assist the function with the execution of strategy by providing advice on risk/control issues and challenging decisions that pose risks to the organization.
- Advise management on emerging global financial services operational risks/trends and facilitate proactive change ahead of threat materializing.
- Manage key 1st Line of Defence (1st LoD) governance and control combined assurance activities.
- Review and provide inputs into the function's non-risk policies and standards working with the subject matter experts in the function, as well as with Risk Oversight for the function.
- Lead the function to improve risk management through ensuring digitization, automation, standardization, and simplification of operating processes.
- Collaborate with the Group Functions Risk team on the management and implementation of the Operational and Resilience Risk Framework (ORRMF), Governance, and Control environment requirements.
- Assist the function to implement an effective governance structure for all risks in the function in line with regulatory and Group policy requirements.
- Ensure knowledge and compliance with Regulatory requirements for non-financial risks and with all other relevant laws and legislation pertaining to the Function.
- Ensure robust risk management activities that will contribute to a satisfactory control environment.
- Leverage appropriate systems and controls including assurance methodology to identify, assess, measure, report, control and manage key risks. Ensure timely escalation of risk issues to enable effective mitigation.
- Support the function to deliver on their combined assurance plan by providing guidance as appropriate. Influence behavior to reduce risk and foster a strong risk management culture throughout the Group Functions.
- Provide general risk awareness training, guidance, and support on risk management practices.
Accountability: Operational Risk Strategy
- In collaboration with the function Head of the Function contribute to the development of the function Risk Management strategy and 1LoD governance, combined assurance responsibilities.
- Assist the Function, in collaboration with risk Oversight, to determine the overall Risk Appetite and risk strategy.
- Monitor the function’s risk profile in liaison with Risk Oversight ensuring alignment with their approved strategy and ensuring it is consistent with the overall approved Group Risk Appetite.
- Challenge completeness, relevance, and management of risks associated with the execution of the Function’s strategy.
- Provide clear and constant feedback on progress and challenges within the Function ensuring that the Managing Executive is kept informed at all times of current events and issues on the horizon.
- Provide clear and constant feedback on progress and challenges within the Function ensuring that Risk Oversight is kept informed at all times of current events and issues on the horizon.
Accountability: Operational Risk Framework, Policies and Standards Oversight
- Assess the level of compliance for the relevant risk frameworks and policies.
- Remain abreast of the Operational Risk and Resilience framework, policies, standards, procedures, and relevant legislation/regulations.
- Assure that the functions Standards and policies are implemented through Conformance Reviews.
- Facilitate the refresh or development of Function-related policies and standards.
- Track and monitor training within the Function related to Operational Risk and Resilience framework, policies, and standards.
Accountability: Operational Risk Management Oversight
- Establish a supporting process to embed monthly monitoring and reporting requirements for all elements of the Operational Risk and Resilience Management Framework.
- Maintain and promote a culture of “Lessons Learned (including Root Cause Analysis) sharing knowledge across businesses and geographies. Educate businesses and facilitate appropriate proactive remediation of identified vulnerabilities.
- This process must take account of the information/reporting requirements of the Central Operational Risk Team and must facilitate timely report preparation.
- Ensure that periodic reporting requirements are submitted by the function on time (monthly, quarterly) and shared with the function Head of Risk.
Accountability: Monitor and review the function progress against ORRMF Standards and Policy requirements
- Provide guidance, and facilitation to the Operational Risk community and 2nd LOD to enable consistent implementation of the Operational Risk Management Framework on a risk-sensitive basis. Affected elements include but are not limited to Risk and Control Self-Assessment, Internal Risk Events, External Risk Events, Key Indicators, Key Risk Scenarios, Lessons Learnt, and Conformance requirements.
- Monitor implementation progress and report progress and issues to the function Head and to Risk Oversight regularly.
- Escalate significant Operational Risk exposures/events, Framework, and methodology issues to the Functions Head and to Risk Oversight.
- Review business/function performance and risk profile.
- Assess, and monitor the current and forward-looking Operational Risk exposure (financial and non-financial) i.e. considering all framework elements, strategic planning, business expansions/contractions, and other major change programs.
- Support the scoping and definition of related Operational Risk deliverables and plans, ensuring that these are aligned with the central Operational Risk calendar.
- Assess the relevance and performance of the function key risk indicators and threshold ensuring they are maintained within appetite.
- Review the assessments of all sub-risk types for the function for completeness, with appropriate challenge.
- Partner with the 2nd LoD to provide guidance on issue/action documentation, tracking, escalation, and remediation of Operational Risk and any other issues.
- Investigate any matter affecting the business risk profile, which poses undue risk.
- Oversee monthly loss event reconciliations and related attestations to ensure that all risk events and losses have been correctly and timely captured on the Operational Risk system.
- Escalate any unresolved concerns directly to the Head of the Function and to 2nd LoD Risk Oversight.
- In the event of a significant control failure or limit breach, ensure appropriate escalation, through the Head of the Function and to 2nd LoD Risk Oversight.
- Ensure that Operational Risk Management systems and tools are used, and that data is accurate, of good quality, and current.
- Support the function to deliver a satisfactory control environment as well as the Management Control Approach (MCA).
- Ensure the function MCA and Control environment assessments are timely, effectively completed, and captured on the system. Review and challenge the proof points to independently determine the overall outcomes.
Accountability: Risk Reporting
- Aggregate the function risk profile taking into account all the relevant risk types managed in the function, indicating the levels of adherence to appetite.
- Validate data and information in relevant reports provided by the first line of defense, as appropriate.
- Prepare appropriate current and forecast Operational Risk profile reporting as required by the Group Operational and Resilience Risk team as well as other governance requirements.
- Ensure conformance reports are complete and accurate and encompass all issues identified from conformance review activities.
- Monitor and report to the Head of the Function and to Risk Oversight on the deliverability of the combined assurance plan.
Accountability: Other
- As required, participate in the Functions projects, ensuring risk is assessed and where relevant ensuring that mitigation plans are in place, agreed actions documented, and the monitoring of these plans.
Education
- Bachelor`s Degrees and Advanced Diplomas: Business, Commerce and Management
Min Requirements
8 – 10 yrs. Experience in managing Operational Risk in a Financial Services Institution.
Education
- Bachelor`s Degrees and Advanced Diplomas: Business, Commerce and Management Studies (Required)
Absa Bank Limited is an equal opportunity, affirmative action employer. In compliance with the Employment Equity Act 55 of 1998, preference will be given to suitable candidates from designated groups whose appointments will contribute towards achievement of equitable demographic representation of our workforce profile and add to the diversity of the Bank.
Absa Bank Limited reserves the right not to make an appointment to the post as advertised.
About Us
Truly African
We are a diversified standalone African financial services group, delivering an integrated set of products and services across personal and business banking, corporate and investment banking, wealth, investment management and insurance.
Absa Group Limited is listed on the JSE and is one of Africa’s largest diversified financial services groups with a presence in 12 countries across the continent and around 41,000 employees.
We own majority stakes in banks in Botswana, Ghana, Kenya, Mauritius, Mozambique, the Seychelles, South Africa, Tanzania (ABSA Bank in Tanzania and National Bank of Commerce), Uganda, and Zambia. We also have offices in China, Namibia, Nigeria, the United Kingdom and the United States of America, a Technology Hub in Prague, and insurance operations in Botswana, Kenya, Mozambique, South Africa, Tanzania and Zambia.
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