Associate Operational Risk Analyst at South African Reserve Bank

Detailed description

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

• Participate in supervisory practices in relation to operational risk in regulated entities, including inspecting regulated entities’ risk appetite and management practices with respect to operational risk.
• Ensure regulated entities’ compliance with regulations governing operational risk.
• Develop methods to analyse and interpret risk-based regulatory data submissions.
• Monitor regulatory entities’ exposure to operational risk, as reported to the PA under the various operational risk approaches.
• Give input and participate in internal capital-adequacy assessments of regulated entities in relation to operational risk.
• Give input and participate in recovery and resolution assessments of regulated entities in relation to operational risk.  
• Provide operational risk specialist support.
• Contribute to risk-based meetings with regulated entities and their auditors.
• Inform the PA about the aggregate behaviour of regulated entities regarding operational risk.
• Stay abreast of international best practice and developments surrounding operational risk.
• Support the Divisional Head and Manager: Operational Risk regarding all operational risk matters.

Qualifications

To be considered for this position, candidates must have

• a post-graduate degree in Banking, Commerce, Risk Management, Accounting or Auditing; and
• two to five years’ operational risk working experience in the banking sector.

The following would be an added advantage:

• a post-graduate qualification in any of the aforementioned, Financial Risk Manager (FRM) or Professional Risk Management (PRM).

Additional requirements include

• knowledge of the Basel Core Principles for Banking Supervision; 
• an understanding of the Principles for the Sound Management of Operational Risk;
• an understanding of the Principles for Operational Resilience;
• knowledge of relevant components of regulations relating to banking and financial market infrastructures;
• knowledge of banking and financial market infrastructure products;
• an understanding of the key regulatory developments, issues and risks facing financial institutions registered in South Africa and related entities, with a specific focus on operational risk;
• competence in basic office information technologies;
• analytical/problem-solving capabilities;
• strong verbal and written communication;
• ability to work in a team and contribute to team success;
• decision-making abilities with the ability to initiate action;
• effective time management skills; and
• reliable own transport as the position requires regular travel.