Chief Risk Officer Relationship Banking - Sandton at Absa South Africa

Job Description

Accountability: Risk Appetite and Strategy

• In conjunction with business leadership, define and support the RB risk appetite aspiration through the annual integrated planning process.
• Actively challenge and contribute to business growth with an enablement mindset under the agreed risk appetite construct.
• Monitor risk appetite consumption and the drivers of the underlying portfolio risk profile to inform appropriate risk management actions.
• Check and challenge collections strategies, capacity requirements and delivery to ensure an appropriate response to current market and economic dynamics.
• Drive an appropriate risk/reward ethos that optimizes RWA consumption and ensures the effective use of economic capital.

 Accountability: Risk Culture and Governance

• Create and manage a rigorous risk governance structure to ensure risk transparency and effective reporting and decision-making.
• Uphold the importance of frameworks and policies and drive the embedment and assessment of their ongoing effectiveness.
• Promote risk awareness and accountability throughout the business in accordance with the ERMF.
• Identify and assign management actions to address deviations from a sound risk culture and control environment.
• Design and implement an effective system of internal controls including a clear organisation structure, a formal system of delegations of authority and accountability and a framework of supervision from the RB CRO throughout the RB Risk Function.
• Accurate and timely representation of the RB risk profile at various Group governance forums by driving a fit-for-purpose risk reporting standard oriented to the needs of a specific audience.  

Accountability: People and Culture

• Build a clearly articulated people management and culture framework consistent with the Absa values.
• Together with the RB Risk People Partner determine and agree the people management strategy with a focus on leadership, talent management, development, resourcing, retention and succession planning.
• Drive the RB Risk organizational transformation, diversity and inclusion agenda with a focus on employment equity targets.
• Ongoing risk function rightsizing, skills adequacy and leadership coaching.
• Defining people and function scorecard objectives and measures that align to the RB Business and Group Risk balanced scorecards.
• Lead, manage and develop the RB Risk Function resources in the most effective and efficient manner to execute the function’s plan.
• Manage the RB Risk Function within an agreed operational budget that supports the delivery of the appropriate risk capability in support of the business strategy.

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.
• Champion an appropriate operational risk management and control culture across RB.
• The design or operation of processes and controls are to be performed by or in conjunction with BU Managing Executives or other stakeholders, with the RB CRO to retain accountability for the effectiveness, oversight and outcomes thereof.
• Ensure 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 framework is understood and embedded across all its facets in the entire RB business, business front office through to infrastructure, operations, control functions and assurance providers, and across the entire value chain of products, services and channels.
• Establish an appropriate strategy around emerging risk themes and mitigation approaches, including specific plans and capabilities around fraud and cyber risk.
• Design, implement and maintain a system of RB enterprise-wide controls that achieves expeditious, concise and reliable combined assurance assessments.
• Contribute 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: Stakeholder Engagement

• Contribute as a key RB Exco member to the overall RB agenda and its stakeholders, and pursuant thereto ensure that the risk agenda is appropriately governed, managed and reported to all requisite stakeholders.
• Effective participation in key risk management committees covering RB, Group and Board Risk Committees, together with RB Exco and relevant sub-Exco committees.
• Provide leadership in regulatory engagements and regulatory bodies and represent RB in key industry associations and forums.
• Interact proactively with the Group Chief Risk Officer to ensure that that he/she is kept abreast on RB financial and non-financial risks, key initiatives and emerging issues.
• Ensure proactive/responsive engagement with the Prudential Authority.
• Engage with the Principal Risk Officers (PRO’s) to ensure appropriate policies, frameworks and standards are developed in support of the ERMF and engage in the assurance activities of the PRO’s.

Accountability: Risk Business Management

• Effective and consistent implementation and management of the Principles for Effective Risk Data Aggregation and Risk Reporting.
• Ensure measures are in place to adhere to the data policies and the effective implementation and ongoing management of RDARR requirements regarding quality of data.
• Ensure data, MIS and reporting of risk metrics are of the highest quality and take steps to remediate data inaccuracies and improve data standards.
• Ownership and accountability for the annual planning and review of MTP, STP and RAF risk cost budgets.
• Manage the effective and efficient operation of the function in a manner consistent with the overall Risk Operating Model in compliance with the ERMF and as agreed with the Group CRO and Group Exco.
• Consistently review the effectiveness of risk systems in place and contract for improvement or replacement where required. 

Accountability: Capability and Enablement Shared Service across Relationship Banking

• Set the strategy for Risk technology, systems, infrastructure, and data requirements as an enabling function in support of the Relationship Banking strategies.
• Demonstrate clear understanding of the Risk and Business strategy and ensure the Capability and Enablement team aligns and supports this.
• Demonstrate innovative thinking and identify solutions in the technology environment, to address known issues and challenges in Risk.
• Identify new trends and developments and incorporate into forward-looking strategies and plans to ensure the businesses can leverage systems and resources to remain competitive.
• Own and manage the integrity and reconcilability of data used in all aspects of credit risk including Modelling, MIS, and Capital Reporting. These processes must include privacy, security, integrity, metadata management, traceability, availability, and accuracy.
• Manage multiple project teams across Risk ensuring delivery on time and to high standards.

Role/person specification

Preferred Education

• B-degree in Accounting/Commerce: NQF level no. 7
• Preferred: CA(SA)/ Actuary

Preferred Experience

• 15 years in Banking/Finance 
• 10 Years senior management experience, in a retail banking environment
• Strategic analysis, finance and general management within a Bank
• Experience in dealing with Banking Regulators
• Strongly preferred: experience as a Retail Bank CRO or CFO in a major South African Bank