Governance, Risk & Compliance: Business Partner at Old Mutual

Job Description

Skills, Qualifications and Experience

• A Bachelor’s Degree in Risk Management, Auditing, Finance or Commerce or other relevant field from a reputable institution. 
• A minimum of 6-8 years’ experience in similar role.
• Proven experience as a risk officer or similar role, preferably in financial service industry
• Knowledge of risk and compliance management
• In-depth knowledge of risk management principles, process and best practices.
• The GRCS Business Partner will work closely with the assigned segment to embed governance, risk management, compliance, and sustainability practices into day-to-day operations. This role is pivotal in helping the segments (management and 1st Line Risk & Compliance) understand and integrate GRCS frameworks within their business strategies and operations, ensuring alignment with the organization’s risk appetite, regulatory obligations, and sustainability commitments. The Business Partner will provide expert advice, support risk assessment activities across all layers of risk (strategic, tactical, operational, process, and project), and synthesize risk insights for optimized reporting that drives meaningful action. By championing compliance, sustainable practices, and a comprehensive risk management approach, this role fosters a mature culture of risk and resilience management.

Business Partnership and Advisory 

• Serve as the main point of contact for GRCS-related queries, support, and collaboration within the assigned segments.
• Partner with senior leaders within the segment teams to align their objectives with GRCS requirements, adding value to strategic and operational decisions.
• Develop strong, trusted relationships with stakeholders to ensure GRCS perspectives are integrated effectively into business strategies and operations.
• Prepare and present reports, insights, and recommendations to leadership teams on GRCS and 1st line performance, highlighting key risk and compliance trends

Governance and Compliance Support

• Collaborate with segment (management and 1st Line Risk & Compliance) teams to understand business objectives, regulatory requirements, and applicable group-wide standards, policies and frameworks.
• Support the implementation (and where necessary, development) of governance frameworks within the segments to enhance accountability, oversight, and control mechanisms.
• Provide training and guidance to segment (management and 1st Line Risk & Compliance) teams on governance, risk, compliance, and sustainability requirements.

Risk Management and Mitigation

• Work with segment teams to identify, assess, and prioritize key risks impacting business objectives, revenue targets, and operational effectiveness.
• Assist in developing and implementing risk management plans, mitigation strategies, and contingency plans intended to support the achievement of business objectives.
• Monitor the risk environment continuously, identifying emerging risks and reporting on trends and developments that could impact the business.
• Facilitate risk assessments and risk review meetings, ensuring that risk controls are effective and aligned with the organization’s risk appetite.

Continuous Improvement and Reporting

• Lead and contribute to continuous improvement initiatives within GRCS processes, ensuring they are efficient, effective, and aligned with best practices.
• Work with GRCS CoEs and segment teams to analyze and report on key metrics related to governance, risk, compliance, and sustainability.
• Develop and track action plans to address gaps identified in compliance or risk assessments, driving accountability within P&L teams.
• Contribute to periodic GRCS reporting, consolidating insights from business segments to support executive reporting, regulatory submissions, and board-level reviews.

Comprehensive Risk Oversight

• Ensure comprehensive oversight across all layers of risk, including strategic, tactical, operational, process, and project-related risks within the business segments.
• Lead and/or facilitate the identification, classification, monitoring, and reporting of risks at each level, ensuring that they align with the organization’s risk appetite and governance frameworks.
• Synthesize findings from risk assessments to identify gaps, inconsistencies, or emerging risks, translating these insights into actionable recommendations for segment teams.
• Regularly report on risk gaps and develop action plans that drive meaningful and measurable improvements in risk management across all levels.

Forensics

• Validation of financial crime risks identified and the mitigation thereof (on/off platform) and challenging risk events and the root causes.
• Fraud Risk Assessments including SOP’s & CII (including assessing fraud statistics and themes, as well as assessing control improvements to mitigate FC risks)
• Assisting with financial crime awareness initiatives/communicating emerging threats or risks.
• Report back on the above, complimented by observations by OMI Forensics and reported to the respective Governance Committees

Combined Assurance

• Ongoing collaboration with the APs to mature the overall assurance capabilities.
• Coordination of the assurance plan i.e. informing the business on the commencement of planning, obtaining assurance plans, reporting/assessing on the assurance capability in the segments as well as gaps identified.
• Tracking management actions arising from assurance work against the set ExCo target, and Performance against the approved Combined Assurance plan.
• Ensure that 1st line AP’s understand CA’s 12 basic information requirements and that they utilize the Combined Assurance platform for collecting information on management actions/activities.
• Monthly and Quarterly themed reporting to CATT and CAMF on:
• Provide feedback on progress assurance activities and progress on management action

Sustainability 

• Engage with 1st line and socialize applicable ESG requirements
• Guide the business in aligning to OMI sustainability superpower requirements.
• Provide line 1 coordinators with tools to monitor requirement embedding
• Present the on ESG data outputs and KPIs  to management
• Support on raising and managing the sustainability risks and issues
• Escalate key sustainability matters to 1st line and Centre of Excellence

Business Resilience 

• Ensuring that there is a capable Plan Maintainer for each BU as well as Plan Owners and Plan Deputies.
• Ensure that the BU complies with the Business Resilience Governance requirements as defined in the BR Policy and BR 6 pillar approach
• In case of a restructure or major changes within a BU the BP must advise the COE and work with the BU to review and make necessary changes to the BIA and BCP as this will have to be approved again.
• Support the BR Coordinator in addressing BR related issues for the BU including Threats within the BU.
• Participate in pre-testing meetings, annual BR Tests for their BU (when required), review testing reports/results to resolve testing issues and is accountable for ensuring that Plan Owners / Deputies appropriately close off remediation gaps.
• Assist with BU BCP activations in case of crisis incidents and assist with the recovery process and return to BAU.
• Ensure a post incident meeting with the BR Coordinator and relevant stakeholders and to document if actions arise post incident, they must assist the Plan Owner / Deputy that these actions are implemented and remediated

Competencies

• Balances Stakeholders
• Communicates Effectively
• Financial Acumen
• Instills Trust
• Interpersonal Savvy
• Manages Ambiguity
• Manages Complexity
• Optimizes Work Processes

Closing Date

• 11 March 2025 , 23:59