Head of Operational Risk CIB ARO & International at Absa Group Limited (Absa)

Job Summary

Enable effective Operational Risk Management practices and delivery in the Corporate and Investment Banking (CIB) Africa Regional Operations (ARO) Countries, as well the International Offices and Non-Presence Countries. Partner with CIB Pan African Business Owners, 1LOD, 2LOD Risk Owners, Internal Audit Partners, as well as in country Business and Risk owners within a matrix structure.

Guide the Country and CIB business through the implementation of the Operational Risk Management Framework and oversee the maintenance of risk and control practices across the businesses. Provide oversight and independent robust challenge to risk decision making and review the risk profile of the businesses against risk appetite and performance measures and agree actions to change the shape of the profile where appropriate.

Job Description

Accountability: Risk Assessment and Risk Management

• Support an effective risk culture, where there is an open, proactive, and constructive dialogue relating to Operational Risk.
• Management oversight on ARO Colleagues and Integrated (Aggregated) Reporting Specialists, to ensure that appropriate Governance, risk, control, and conformance requirements are effectively assessed, aggregated/integrated and reported for CIB ERC and ARO ERC, as well as other CIB and Group MI Insights & Reporting Requirements.
• Provide support and ensure the required governance, control assurance, risk management, integrated reporting, and control assurance objectives.
• Guide and support Business Reviews performed by ORM in Country by assisting in defining the scope and support on the review of evidence, review of the final report and concluding on the remediation actions.
• Enable business aligned reporting, escalation of CIB Control Issues and management of Issues related to Significant Risk Events. Drive and embed the CIB ARO MCA and CE reporting, engagement with Country Leadership, Regional Directors and CIB Management to challenge the quality of reporting.
• Monitor RTS plans per risk type and country. Review evidence to support ratings provided to ERCs and SARB.
• Promote and support timely and complete reporting of risk events and control issues by the business (first line of defense).
• Provide challenge over the quality and completeness of Significant Risk Events for monthly CIB Forum and Group reporting requirements (BA410). Develop and enable automated reporting; introduce DQ tools to 2LOD in country and share thematic failures and root causes across countries.
• Enable the First Line in each of the countries to manage Operational Risk effectively through provision of advice, tools training and robust independent challenge.
• Design and implement an agreed programme of regular monitoring and evaluation to assess appropriateness and effectiveness of the internal governance and control arrangements.
• In partnership with business management, participate in post incident reviews to identify and analyse root causes and learning, and to ensure that any necessary remedial actions or control improvements are implemented to prevent future losses and events.
• Review and challenge with the First Line and other stakeholders the design and effectiveness of controls to manage operational risks within appetite and seek appropriate assurance to support the outcomes.
• Provide superior thought leadership to the senior First and Second Line management through the use and evolution of risk frameworks to deliver effective risk management to the business and through the education of the senior management team in effective risk management.
• Support and challenge the First Line at senior levels using superior influencing and negotiating skills to identify, assess and control emerging risks prior to material P&L impact.
• Deliver value-adding risk assessments and advice to strategic/other change projects and new products to ensure changes to the business risk profile are properly quantified and mitigated/managed within agreed risk appetite.
• Drive the evolution of operational risk measurement and reporting through supporting the development of Key Risk Indicators and risk profile for each function/business unit.
• Deliver value-added MI, specifically Key Risk Indicator trends, and analysis of the drivers of operational risks to help business and senior management better manage operational risk and the associated capital charges.
• Oversee effective implementation and maintenance of approved solutions for operational risk reporting.
• Advise and support the business in respect of other operational risk/control related matters e.g. audits.
• Awareness and a comprehensive appreciation of other risk types and how they impact and relate to Operational Risk.
• Ensure that all activities and duties are carried out in full compliance with regulatory requirements, Enterprise Risk Management Framework, Operational Risk Management Framework and internal Policies and Standards.
• Support the Country teams to implement the required Basel framework as prescribed by the Regulator.
• Ensure Regulatory requirements and changes are implemented with oversight from Country and CIB Management and Risk teams.
• Provide Performance feedback at a Country ORM level, as well as individuals supporting CIB ORM in each of the countries.
• Oversee and provide support on the implementation of new product approval governance and control assessments.
• Lead and coordinate the ERMF workstream for new jurisdictions, acquisitions, and expansion projects.

Accountability: Insight to inform business and strategic decision making

• Partner with CIB Pan African Business Heads and Country Heads of CIB in conjunction with Risk Partners to pro-actively enable the operationalisation of the growth strategies and expansion into different jurisdictions.
• Advise Business on risks and minimum controls required to perform CIB activities for both product and presence expansion.
• Drive senior leaders to make risk informed key business and strategy decisions through their understanding of the business and their role in the governance of the business through Second line interaction and involvement in key committees/forums.
• Provide insightful analysis and interpretation of risks to the First and Second Line based on a thorough technical understanding of the Operational Risk Management Framework (ORMF), robust and relevant knowledge of the business with which he/she partners and a deep and broad external market view on risk theories and current best practice.
• Provide input and guidance for setting the operational risk strategy relating to operational risks.
• Ensure that all business units and countries have measures in place to monitor and manage their own operational risk profiles.
• Oversee the development, localisation and implementation of major corporate policies. Establish risk appetite in conjunction with the business, to ensure that business maintains exposure in line with this appetite based on a balanced risk/reward decision.
• Drive the embedment of the Group Operational Risk Framework, promoting the integration of operational risk consideration into all risk reward decisions and general business management.

Accountability: People Management

• Determine the people management strategy for the ARO Business area with a focus on talent management, development, resourcing and retention, ensuring resource allocations are commensurate with growth/focus areas.
• Develop in Country Risk professionals through knowledge sharing with ARO Counterparts.
• Provide coaching and support to effectively check and challenge 1LOD in Country.
• Partner with ARO head of G&C and ARO ORM to identify gaps and provide risk framework training.
• Identify where CIB Product training is required and coordinate with the relevant product stakeholders and SMEs to deliver either face to face or through electronic channels.
• Role model the Absa values and embed them through the function, enabling colleagues to operate and demonstrate the values at all times.

Accountability: Stakeholder Management

• Build and maintain effective relationships with Business/Functional Head across ARO and the International Businesses.
• Develop risk professional relationships with other key risk professionals across the Group.
• Develop risk relationships and provide support to the ARO Country Operational Risk resources and CROs.
• Engage with regulators as and when required by business and jurisdictional needs.

Accountability: Business and Operations Management

• Ownership and accountability for the annual planning and review travel and other expenses related to the function.
• Ensure that the function has sufficient resources to deliver on operational and customer commitments.
• Ensure that the function is managed within acceptable parameters and that governance and management processes exist and operate effectively.
• Ensure that all other areas of operational and business management (e.g., change/project manage, crisis management) are in place and operating effectively.
• Engage CIB Product and Functional ORM Leads to participate in country engagements.
• Partner with CIB ARO Governance and Control teams (SA & In-Country) to effectively implement and support the ORMF and ERMF for CIB.
• Actively engage with the ARO CRO for aggregation and effective delivery of co-owned risk remediation and other projects.
• Perform all other duties as reasonably assigned

Education

• Bachelor`s Degrees and Advanced Diplomas: Business, Commerce and Management Studies (Required)

Closing Date: 16th, May 2022