(1716) CODI Operational Risk Analyst at South African Reserve Bank

The successful candidate will be responsible for the following key performance areas:

• Develop, implement and maintain processes for determining whether a bank’s operational processes and internal controls meet CODI’s regulatory requirements. 
• Conduct reviews, assessments as well as on-site inspections of deposit insurance submissions by the banks against legislative and deposit insurance regulatory requirements of CODI, to identify risks and non-compliance. 
• Evaluate the risk magnitude and significance emanating from the non-compliance identified and report on findings with suggested recommendations to address the risks identified. 
• Assess the adequacy of the remedial plans with actions that the banks will take to address its non-compliance and associated timelines.
• Perform continuous monitoring and record keeping of the implementation of remediation actions for findings emanating from banks’ internal audits on CODI’s regulatory requirements and, where applicable, external audits and/or any other internal/ external assessment reviews.
• Prepare and present regular reports to management and the board of directors of CODI (Board), thus ensuring that management and the Board are kept fully aware of any key concerns that may impact CODI’s fulfilment of its mandate.
• Cooperate with the Prudential Authority (PA) on any non-compliance and risks identified by the PA or CODI, that will influence CODI’s role in a bank’s resolution. 
• Assist with appointing third-party service providers and work closely with them to conduct external audits and other internal or external assessment reviews of the banks.
• Participate in meetings and industry consultations with stakeholders, ensuring a clear understanding of CODI, its requirements and processes.

Qualifications

To be considered for this position, candidates must be in possession of:

• a postgraduate qualification (NQF 8) in Auditing, Banking, Risk Management, Compliance or other relevant qualification; and
• five to eight years of experience in the financial services or financial regulatory industry or auditing, risk management and/or compliance management environment.

Additional requirements include: 

• industry, organisational and business knowledge and skill;
• continuous improvement knowledge and skill;
• quality assurance knowledge and skill;
• continued learning and/or professional development knowledge and skill; 
• risk management principles, tools, methodologies, frameworks, policies and processes knowledge and skill;
• risk management strategy and planning knowledge and skill;
• risk identification, analysis and assessment knowledge and skill;
• risk mitigation and management knowledge and skill knowledge;
• risk monitoring and reporting knowledge and skill;
• project management; and 
• ISO 31000 standards, King IV and COSO framework.