Governance and Control Specialist (Everyday Banking) at Absa

Job Summary

Overall Job Purpose

• To embed effective risk management practices within the Business Unit (BU) and to effectively implement Absa Group Enterprise Risk Management (ERM) policies and framework. Contribute to establishment and maintaining of an integrated and effective risk management framework where risks are identified, quantified and managed on a consistent basis via the specialised risk management execution framework. Provide technical risk management expertise and advice to Leadership and all stakeholders in the BU. The primary function of the role is to support the Head of Risk and Control/Governance in providing first line of defense support to business through the effective implementation and embedment of risk, governance and compliance frameworks in order to improve the control environment and risk informed decisions.

Job Description

Risk Management:

• Providing subject matter expertise to risk types in accordance with Enterprise Risk Management Framework (ERMF).
• Responsible for development and coordination of risk management programmes and ensures that risk management programmes are designed to identify risk exposures at a process level and perform a risk and control self-assessment to determine the residual risk which must be controlled by means of internal control measures. 
• Providing management with accurate risk information for effective decision-making on internal controls
• Facilitate the identification, assessment and relevant mitigation of operational risk in line with Enterprise Risk Management Framework (ERMF) and ensure alignment with the risk and control library.
• Ensure that key risks and controls are identified, documented and assessed regularly in line with Critical Process Assessment (CPA), Management Control Assessment (MCA), Risk and Control Self-Assessment (RCSA) standards and policies.
• Identify, assess and report key risks arising from significant events, investigations, and audit, material and control issues.
• Identify control gaps in processes and recommend remedial actions.
• Develop and recommend appropriate Key Risk Indicators (KRIs) if relevant (including the revision of thresholds when required).
• Keep appropriate risk management system(s) up-to-date with all ORMF components: Risk Events, Issues, Actions and etc.
• Analyse and investigate the causes for operational events/ breakdowns, ensuring that operational events are adequately addressed with both a long -term sustainable solution and interim mitigating controls.
• Develop strategic and tactical responses with management to address risk exposures.
• Ensure the business continuity plan is updated and tested.
• Provide input into risk policies, strategies and measurement methodologies.
• Drive the value of risk awareness for the team through formal and informal training as may be required.
• Challenge BU management to drive prioritisation and mitigation of key risks.
• Monitor both internal and external environments in order to identify emerging risks, trends and best practices and report timeously to relevant business stakeholders.
• Assist in reviewing business initiatives and proposals, including new, amendment, review of products.  
• Facilitate SoX (Sarbanes-Oxley Act) conformance testing within Business areas.

Governance and Reporting

• Source information and compile the risk reports and ensure data quality and accuracy of reporting on an ongoing basis.
• Prepare the risk profile reporting for the relevant stakeholders/committees.
• Ensure minutes, action log and decision log for Risk meetings are clearly articulated and completed, adopted as set-out in the Terms of Reference.
• Ensure that the Central Action Tracker is up to date and feedback on progress obtained on regular intervals.  Escalate any actions that may possibly go overdue as indicated by management.
• Complete the monthly Risk Events Reconciliation, Management Control Assessment (MCA), Risk Events and Issue Trackers, Risk Self-Assessments and ensure supporting evidence is provided. 
• Ensure mandatory escalation required by Operational Risk Management Framework (ORMF) is performed. (Losses above threshold, indicators above threshold)
• Provide updated feedback to relevant governance committees on progress of significant items.
• Ensure adherence to all applicable policies, standards, frameworks, procedures and regulations.
• Facilitate and co-ordinate the integration of the business related risk requirements into the broader governance structures, and ensuring the evidencing of Principal Risk and Key risk-related decisions
• Log and report operational risk framework components onto the operational risk system and to the various committees.
• Monitor completion of mandatory training completion and follow up where necessary.
• Facilitate tabling of business initiatives and proposals, including new, amendment, review of products at respective governance structures.

Management Assurance / Internal Audit / External Audit Engagement

• Conduct 1LOD risk and processes assurance review in alignment with the combined assurance plans
• Manage the internal audit, combined assurance and compliance relationship; regular stakeholder engagement, drive the scope of audits, compliance and conformance reviews and ensure all findings are resolved appropriately and timeously.
• Ensure that findings are noted in the CPA’s, RCSA, Risk Packs and actions are tracked until resolution to ensure no overdues. 
• Once actions and milestones are closed ensure that controls are amended to reflect the resolution of the action.
• Track progress of any action plans raised in the Operational Risk Self-assessment in order to move to full compliance.

Qualifications and Experience Required: 

• At least 3 – 5 years’ experience in risk/control environment within the Financial Services Industry is essential.
• Bachelor of Commerce (BCom), Risk Management, Audit, Chartered Governance (CIS/CSSA) or equivalent NQF level 7 qualification
• Proactive, self-starter, able to show initiative and work with minimal guidance.
• Strong written and verbal communications skills, be able to write and present reports to Risk Committees
• The ability to work in a team is critical to success in this role.
• Computer proficiency: advanced Excel, Word and Power Point skills
• Capacity to work under pressure and meet deadlines.
• Solution-driven, passionate and energetic.
• Possess a strong sense of ownership and initiative.

Skills

• Strong emotional intelligence.
• Ability to work in teams across functional and support functions.
• Ability to communicate across different levels.
• Analytical.

Education

• Bachelor`s Degrees and Advanced Diplomas: Risk Management (Required)

Absa Bank Limited is an equal opportunity, affirmative action employer. In compliance with the Employment Equity Act 55 of 1998, preference will be given to suitable candidates from designated groups whose appointments will contribute towards achievement of equitable demographic representation of our workforce profile and add to the diversity of the Bank.

Absa Bank Limited reserves the right not to make an appointment to the post as advertised