Head: Credit Data and Regulatory Control: Credit Risk at Absa Group Limited (Absa)

Job Summary

• To support the Head: Credit Portfolio Management and Regulatory Reporting in establishing and leading a dedicated oversight and control capability to drive continuous improvements in credit risk regulatory reporting. 
• This includes:
• Leading the delivery of second line of defense activities to effectively control the quality of credit risk regulatory reporting across Absa Group (BA200 series, BA340, BA500, BA610 Section E, BA701, Large Exposure Reporting, supplementary reporting and Pillar 3).
• Lead, develop and improve the risk and control environment of credit risk regulatory reporting across change, data, process, systems, operations and governance.
• Drive the formulation, maintenance and embedment of control objectives into substantive actions resulting in effective oversight and control of credit risk regulatory reporting.

Job Description

Accountability:  Risk Control and Governance

• Maintain a full understanding of the end-to-end credit risk regulatory reporting production process (data, process, methodologies, systems, operations and governance) throughout the Group, as well as understanding the underlying operational risk drivers, emerging risks and potential consequences of developing trends.
• Proactively engage with regulatory data production leaders across Business Units and Group functions, providing advice and challenge on data management techniques, the effectiveness and comprehensiveness of controls, and the state of the overall control and operational environment.
• Oversee the design, maintenance and embedment of governance and control activities in credit risk regulatory reporting and provide advice and guidance on improvement projects and initiatives for the team.
• Provide ongoing advice and strategic direction on monitoring and managing the risk and control environment across Absa Group and its legal entities in terms of best practice procedures, policies, legislative and regulatory operations.
• Design and implement an operating model to drive effective engagement with data and process owners as well as other oversight and assurance partners across the full value chain of credit risk regulatory reporting.
• Develop tools, metrics and analytics that will enable senior management to understand and monitor the overall quality and accuracy of data being consumed, produced and reported in credit risk regulatory processes and identify areas for improvement.
• Ensure appropriate early warning mechanisms are in place to flag any deterioration in the risk and control environment for regulatory reporting. Proactively communicate the potential consequences to senior management. Report key control failures and/or risk events to senior management and the operational risk team.
• Drive the resolution of audit findings and remediation of gaps in data quality, processes and controls identified by assurance partners.
• Provide training to production teams on design and implementation of effective controls and data quality validation and monitoring.
• Ensure ongoing compliance of data management practices, operational processes and controls with BCBS239 principles for Risk Data Aggregation and Risk Reporting and the Group’s RDARR Policy.
• Ongoing monitoring of data quality and optimization initiatives to identify and mitigate the build-up of inaccurate and incomplete data, processes, methodology and operational performance.
• Develop metrics to track operational efficiency, drive data quality and process improvements and enhanced controls.
• Drive, facilitate and track credit risk optimization initiatives.
• Contribute to the strong controls environment and policy implementation/reviews.
• Maintain expert level technical knowledge of regulatory reporting requirements and disclosure rules.
• Prepare operational performance updates to internal data management and production oversight forums including Group Regulatory Reporting, ARO FD Forum and the Regulatory Review Committee.
• Maintain Management Control Approach and Critical Process assessments relating to credit risk regulatory reporting.
• Partner and collaborate with assurance partners across Absa Group to ensure control testing for credit risk regulatory reporting is planned and executed effectively, providing guidance on review priorities.
• Develop and implement frameworks for incorporating ESG metrics into credit risk regulatory reporting.
• Ensure compliance with emerging ESG regulations and reporting standards relevant to credit risk and provide insights to senior management on potential impacts.
• Lead regular crisis simulation exercises (e.g. regulatory fire drills) to test the effectiveness of ad-hoc reporting solutions and identify areas for improvement.

Accountability:  Stakeholder and Relationship Management

• Engage with key internal and external partners such as Group Regulatory Reporting, Technical Accounting Group, internal and external audit, and the Prudential Authority. Primary engagement partner for external audit on Reg 46 audits.
• Lead by example in building strong internal and external relationships, displaying excellent abilities to initiate strategic dialogue and listen, advice, influence, negotiate and present at different levels.
• Establish and nurture influential relationships with a wide network across the organization in order to identify synergies and optimally leverage relationships, knowledge, services and resources to provide superior solutions.
• Develop relationships with key stakeholders who are based in geographies outside South Africa through regular engagement and knowledge sharing.
• Participate in key regulatory reporting oversight committees across Absa Group representing Group Credit Risk and provide thought- leadership and direction on regulatory reporting priorities.
• Represent the Bank in industry forums (e.g. BASA) and associations relevant to credit risk in order to keep up to date with the latest developments in credit risk regulatory reporting.

Accountability: People Management 

• Provide clear direction to team members on the strategic plan and key focus areas and ensure their understanding and buy-in.
• Develop a culture of proactive compliance, risk management and innovation within the team and the function as a whole.
• Proactively contribute to a progressive team environment by positively driving teamwork and change.
• Promote knowledge transfer, personal development activities and ongoing learning, and collaboration within the team.
• Determine and analyze development needs for the team and ensure that identified training requirements are budgeted for and executed. 

Accountability:  Change and programme management 

• Lead implementation of regulatory change for credit risk regulatory reporting.
• Provide leadership and guidance on appropriate change initiatives that will improve the overall quality of credit data and regulatory production processes, such as new controls and analytical reviews.
• Lead the investigation of alternative solutions and assist in making comprehensive recommendations where deficiencies exist.
• Assist in the oversight and execution of regulatory change initiatives (e.g. integration of Basel IV into business-as-usual, regulatory remediation). Advise on the impacts of regulatory change on credit risk regulatory reporting in governance and project forums.
• Monitor, analyze and report on the likely impact of upcoming changes in regulatory requirements on credit risk RWA (e.g. Basel IV framework) and make recommendations to senior management on possible or tactical/strategic responses.
• Ensure the continuous improvement of data infrastructure, including cloud solutions, to support scalable and efficient data management practices.

Preferred Education & Experience

• CA (SA) or equivalent, BSc degree Honors, MBA or a related NQF Level 9 equivalent qualification.
• At least 10 years experience in the Banking or Audit sector (Financial Services).
• At least 10 years risk management experience in a senior governance or audit role with experience of the Banking regulatory reporting process.
• Excellent understanding of banking regulations and regulatory reporting.

Education

• Postgraduate Degrees and Professional Qualifications: Financial Sciences (Required)