Chief Risk Officer Group Functions & Head of Risk Operations at Absa Group Limited (Absa)

Job Description

Accountability:  Risk Management 

• Actively challenge and contribute to the Functional strategies and risk shape/profile in the context of the regulatory and/or macro-economic environment
• Determine the overall Risk Appetite and risk strategy and propose the same for approval to the respective committees
• Allocate and monitor the Enterprise wide Risk Profile in liaison with each Function’s ME ensuring alignment with their approved strategy and ensure it is consistent with the overall approved Group Risk Appetite
• Manage and monitor the Enterprise wide Risk profile and ensure it is appropriate, well understood and controlled by all stakeholders
• Identify risks, report on risks at ERC and Board, manage and monitor risks (implement appropriate Key Risk indicators)
• Ensure appropriate policies developed on People Risk, Financial Reporting Risk, Tax Risk, Third Party Risk, Legal Risk, Physical Assets Risk working through the BU (function) ME and Head Operational and Resilience Risk
• Outline and implement an effective governance framework for all risks in line with regulatory requirements
• Ensure implementation of Operational Risk Management framework and systems
• Ensure knowledge and compliance with Regulatory requirements for Operational risk and with all other relevant laws and legislation pertaining to the Group Functions
• Fulfil all duties and responsibilities as defined in the King Report on Corporate Governance
• Ensure that risk management activities are robust, thorough and complete and that risk capabilities in each Function are developed and commensurate with risks inherent and strategy/plans
• Establish appropriate systems and controls including assurance to identify, assess, measure, report, control and manage key risks. Ensure timely escalation of risk issues to enable effective mitigation
• Develop and maintain applicable risk standards and oversee risk and control in Critical Processes and Management Control Approach (MCA)
• Implement a combined assurance strategy for the Group Functions.
• Report to the Group Chief Risk Officer, and the various Functions’ Executive Committees (Function ExCo’s) and relevant committees, regulators and other stakeholders on the business area’s risk positions, adherence to Risk Appetite and control environment.
• Ensure the timely response and remediation of regulatory issues
• Implement Risk Measurement models and methodologies ensuring practices are in line with regulatory and accounting principles and standards
• Monitor and check and challenge the risk profiles of the Businesses / Group Functions
• Conduct control assurance focusing on 1LoD conformance testing and sample testing
• Influence behaviour to reduce risk and foster a strong risk management culture throughout the Group Functions
• Provide risk awareness training

Accountability: Frameworks, Controls and Processes 

• All Principal and Key Risks, as defined in the Enterprise Risk Management Framework, to be proactively identified, assessed, controlled, reported, managed and challenged on a normal and stressed scenario basis.
• Champions an appropriate operational risk management and control culture across the Group functions.
• The design or operation of processes and controls are to be performed by or in conjunction with Group Functions’ Managing Executives or other stakeholders, with the Group Functions’ CRO to retain accountability for the effectiveness, oversight and outcomes thereof.
• Ensures a continuing business drive to maintain a satisfactory management control approach and control environment that addresses all risk types and processes.
• Ensure that the operational risk framework is understood and embedded across all its facets in the Group Functions.
• Monitors and escalate the remediation of open and overdue audit and management assurance action items within the operating environment for the Function.
• Leads the interaction of the different risk management specialist areas (Risk, Internal Audit, Group Compliance) to ensure an understanding of the requirements and that functional policies and processes incorporate all the necessary elements.
• Establishes an appropriate strategy around emerging risk themes and mitigation approaches.
• Contributes to the development of the Enterprise Risk Management Framework and ensure embedment of the principal risk types and the effective ongoing management of all risks.

Accountability: Risk Functional Strategy and Technology Book of Work

• Ensures the effectiveness of the integrated Risk Strategy planning process, including Cluster Risk Functional strategies in anticipation and maintenance of industry best practice and that this strategy aligns to and supports the AGL strategy. This includes development and approval of the Group Risk scorecard.
• Translates short & medium term business strategy into resourcing and capability needs for the Risk Function, identify gaps and implement measures to close gaps.
• Determines a service/cost strategy that delivers service at the right cost to underscore the appropriate value propositions.
• Benchmark Risk¦s capabilities against our peers, including people skills, compensation, technical abilities, systems, processes, models, structures, design and recommend changes.
• Ensures functional co-ordination and delivery of all technological change programmes.
• Functional co-ordination of adherence to all Data standards including RDARR.
• Management of one Functional Book of Work that unlocks the functional delivery strategy.
• Ensures the Group Risk Book of Work is aligned to that of the enterprise strategy and prioritised in line with Functional aspirations.
• Oversees the execution of the Book of Work delivery for the Risk Function, and provide advice and counsel to Risk Functional and Project leadership (Executive Sponsors) to ensure that the project methodology is robust and in line with Group Policy and standards.
• Ensures that the appropriate return on investment (ROI) is realised by building a culture and discipline of benefits tracking.

Accountability: Data governance and Architecture

• Define and execute the data governance strategy aligned with the groups risk management objectives and group data strategy.
• Provide leadership and guide the functions data owners and stewards
• Establish and monitor data quality KPI’s
• Ensure timely resolution of data quality issues
• Collaborate with data producers and consumers across the organisation to ensure quality risk data inputs
• Enusre end to end data lineage for key risk data (RDARR compliance)
• Enforce data governance and adherence to the groups data and records management policy.
• Define and maintain the target state architecture for risk data including flows and integration points.
• Ensure alignment of data architecture with technology strategies

Accountability: People Management

• Provide clear direction on strategic goals, translating and prioritising them into business and performance measures
• Role model the Absa values and embed them through the function, enabling colleagues to operate and demonstrate the values at all times
• Review resource plans and ensure that resource allocation is in line with projected business plans and priorities
• With the HC partner, lead the function and build an environment to support talent management, development and mobility
• Ensure people plans that align to the respective business and succession plans are in place
• Drive and lead the diversity and inclusion (D&I) agenda across the function. Ensure all relevant D&I activity is conducted within the function and contribute to the Absa D&I strategy
• Ensure that the remuneration of the function is in line with industry benchmarking
• Leverage the Absa wide learning agenda to develop and grow the capabilities within the function

Accountability: Stakeholder Management

• Build and maintain effective relationships with Functional Heads
• Actively participate in external forums as a means to establish and maintain networks in the financial services industry. Keep abreast of Industry and Regulatory developments
• Ensure effective interaction with the Absa Group CRO and his/her ExCo
• Interface with all the Prudential Authority (South African Reserve Bank), and/or non-executive governance structures on risk matters.

Accountability: Business Management

• Ownership and accountability for the annual planning and review of MTP, STP and RAF budget
• Manage the effective and efficient operation of the function in a manner consistent with the overall Risk Target Operating Model agreed by Group Risk ExCo.

Role/person specification

Preferred Education

• BSc Hons Degree, BCom Hons, MBA, Masters or a related NQF Level 6 equivalent qualification

Preferred Experience

• Ten (10+) years’ experience in the Banking sector which must include proven experience. Ideally with international/regional exposure
• Ten (10) years ‘experience managing a large Control or Operations environment
• Five (5) years’ experience on a senior management level in a large corporate
• Experience at engagement at a Board level (Preferable)

Knowledge and Skills

• Strategic thinking: Ability to think and act in a strategic manner
• Communication and Influence: ability to communicate effectively across a range of senior stakeholders
• Strong networking skills. Awareness of cultural differences and varying legal/regulatory environments. Proven demonstration of communication skills at all levels within a large organisation. Stakeholder management on a senior and executive management level
• Innovation and change: ability to identify opportunities to improve service and deliver on these
• Proven leadership: ability to direct a large number of staff to achieve the Function objectives and goals.
• People management: ability to form and develop high performing teams with robust bench-strength. People development/management skills/orientation and team leadership
• Problem solving and decision-making: ability to quickly understand a situation and take decisive action that is bought into by stakeholders. Courageous to make tough calls
• Quality and Excellence: Commitment to quality, high standards and robust risk/control management. Proven ability to deliver service excellence, managing often conflicting priorities
• Strong knowledge of Corporate and Investment banking and broad technical products skills and general commercial/industry awareness
• Good knowledge of risk, controls and governance processes, tools and practices
• Domestic and international travel required
• Experience of working in a multinational, multi-segment environment with matrix reporting structures

Education

• Postgraduate Degrees and Professional Qualifications: Business, Commerce and Management Studies (Required)

End Date: June 13, 2025 (7 days left to apply)