Manager Operational Risk (Retail) at Barclays Africa Group Limited

Job description

Overall Job Purpose:

Develop and coordinate risk management programmes by using risk identification and measurement methods. Make accurate risk mitigating recommendations to implement internal controls and to transfer risk. Collect and analyze risk information to ensure risk compliance. Draft reports including recommendations on proactive management decisions to prevent risk events

Key Accountabilities:

Accountability: Operational risk reporting

• Prepare various operational risk assessment reports as and when required by Group Operational Risk and submit the report to the Head of Risk for review. The risk assessment report should cover operational risk profile of the Business Unit (BU), operational risk losses and corrective actions related to internal audit and regulatory review comments. The assessment should be based on the status of implementation of operational risk policies and procedures.
• Coordinate day-to-day monitoring of and reporting on the BU’s operational risks by completing; weekly, monthly, quarterly and semi-annual reports to management.
• Act as Point of Entry for Operational Risk Reporting for the BU, ensuring that all reports are compiled and forwarded, when required.
• Review and challenge the effectiveness of business management of operational risk and compliance with the operational risk framework and policies by reviewing directorates operational reports submitted to Operational Risk.
• Coordinate implementation of principal risk frameworks and policies to ensure that there are mechanisms in place to identify and understand all occurrences of risk.
• Review, challenge and validate BU profiles by comparing profiles with information on operational risk systems and perform quality assurance on all submissions received.
• Represent the cluster on the applicable operational risk related forums, when required.
• Liase with stakeholders of Principal Risks within other entities within the Group to promote alignment of the overall groups approach to Operational Risks.
• Ensure preparation and sign off of Group Risk reports and the validation thereof on a monthly and quarterly basis, including formulating an overall opinion of the risk status in the BU.
• Provide executive management with an update on all identified risks and controls ensuring a level of comfort through effective risk management.
• Report and present on all risk related activities such as: Risk events, indicators, Risk Framework implementation, Control issues, BCM readiness, Information Security and Sox to the Audit, Compliance, Risk and Regulatory Forums.

Accountability: Interpretation operational risk

• Design, implement and maintain the operational risk framework and policy, as well as supporting tools to align with Absa Group risk framework and policies by establishing standards for operational risk policies based on Group and local banking sector standards.
• Review the operational risk framework, policies and procedures on a quarterly basis to ensure alignment with the Absa Group.
• Escalate significant Operational Risk Exposures to Absa Operational Risk.
• Work with principal risk coordinators to ensure that RCA's, Key Risk Scenarios, indicators, risk loss events are recorded in the relevant system as indicated in the operational risk guidelines.
• Provide clear direction to team members on the operational risk strategic plan and key focus areas and ensure their understanding and buy-in.

Accountability: Compliance and Risk Management Framework

• Lead the development and implementation of the business units (BU) Compliance and Risk Management Business Plan on an annual basis, by providing specialist advice and making recommendations for improvement on all matters pertaining to compliance and risk.
• Ensure that all the risk governance requirements, standards and guidelines from the Barclays and Absa Group's Risk Management Framework are aligned to the agreed standards and regulations governing the risk discipline of the BU.
• Provide overall specialist advice to senior management to assist in identifying and managing all risks.
• Whenever a new project is identified, provide an overview of risk assessment to effectively mitigate any potential risks.
• Provide a level of comfort to the BU’s executive management with respect to the adherence of policies and procedures by monitoring the execution thereof. Where necessary assist in the development of corrective actions to facilitate compliance.
• Ensure effective co-ordination and execution of Operational Risk, Business Continuity Management, Health & Safety and Information Security activities with a view of minimising or reducing potential risks.
• Drive the submissions of the operational risk profiles and provide BU Executive Management with an opinion regarding the risk profile the area.
• Ensure compliance to regulatory compliance requirements by interpreting information in the regulation.
• Perform risk management functions to ensure Risk Appetite and Tolerance through the analysis of Risk Indicators, amongst others, and reporting thereon.
• Integrate risk principles and processes in order to contribute to an acceptable risk profile for the BU

Accountability: Governance and control

• Ensure implementation of the Barclays risk governance standards and policies in the BU, in the compilation and provision of required information to be included in the various Risk Governance Forums as well as to meet reporting and risk escalation requirements.
• Provide Group Risk, Group Compliance, BU Management and other stakeholders with pertinent information regarding the compliance levels regarding risk credit policies and procedures, as well as regulatory requirements.
• Keep up to date with changes and developments in all relevant legislation and regulations and participate in interpretation of these requirements ensuring that they are successfully implemented.
• Create plans and work schedules aimed at evaluating systems and operations for potential risks aligned with the Group Risk, Principal risks and the SOX initiative.
• Review risk management information compiled and challenge principal risk owners and coordinators on the controls they have in place to manage the operational risk within acceptable levels.
• Drive management Risk Forums in accordance with Corporate Governance requirements, this includes collating and compiling data, interpreting, directing and managing information and analysis from various role players and to perform further analysis and interpretation as well as reporting thereon.

Accountability: People Management

• Oversee the activities of the team to ensure effective delivery of service to stakeholders
• Allocate duties to team members in order to achieve operational targets including prioritisation and work schedules.
• Develop a high performing team by embedding formal performance development and informal coaching.
• Encourage frequent knowledge sharing between team members.
• Determine and analyse development needs for the team and ensure that identified training requirements are budgeted for and executed.
• Establish and maintain a succession plan for the team.
• Interview and recruit new members of the team, including determining appropriate compensation levels with input from Human Resources.

Accountability: Business Management

• Allocate duties to team members in order to achieve operational targets including prioritisation and work schedules.
• Based on gaps identified, motivate requests to the manager for additional resources including people, budget and equipment.
• Obtain a thorough understanding of the business unit’s strategy and explain it to team members in such a way that they understand the contribution they have to make.
• Explain targets and take accountability for the monitoring and achievement of performance objectives in the department in terms of employee satisfaction, customer experience, cost performance, return on investments, risk, compliance and governance requirements. Create quarterly and monthly plans to ensure delivery for the year.
• Manage departmental budgets including signing off of invoices and quotes within mandate. Escalate out of budgets or items higher than approved mandate to the next level manager.
• Rigorously monitor expenditure against approve budgets and put measures in place to address variances.
• Continuously identify areas for improved efficiency and reduced cost.
• Conduct basic statistical analysis to track performance variances and determine the root causes of errors.
• Make recommendations for productivity or process enhancements to process owners.
• Implement productivity improvement measures by coaching staff on any new processes or on their areas for improvement.
• Populate balanced scorecards for the specific department on a monthly basis. Work with the team to address shortcomings during the next month. Escalate any major issues identified to the next level manager.
• Participate in the measurement and reporting of internal and external Service Level Agreements on a monthly basis. Address any process failures specific to the department under management.

Education and Experience Required

• B-degree in Risk Management (NQF Level 6)
• 3 years operational risk environment experience or 3 years’ experience as an Operational Risk Officer or Manager

Preferred

• Exposure to Risk Governance and Control Committees
• Experience in risk elements especially operational risk management
• Experience in dealing with multiple stakeholders

Knowledge & Skills:

• Knowledge of banking legislation
• Knowledge of the Risk environment and Risk management