Head: Risk & Governance - Short Term Insurance at Absa Group Limited (Absa)

Job Summary

Develop and deliver the strategic plan for Corporate Operations for the Short-Term Insurance business in conjunction with the relevant stakeholders
Ensure that all activities and duties are carried out in full compliance with regulatory requirements, Enterprise-Wide Risk Management Framework and internal Absa and Policy Standards. Understand and manage risks and risk events (incidents) relevant to the role.

Job Description

Accountability: Strategy development

• Set and cascade the corporate operations strategy in alignment with business strategy, and ensure resources are in place for its execution.  
• Actively work to optimise and streamline operational processes and efficiencies in conjunction with the business and other relevant internal stakeholders 
• Oversee that the corporate operations team drive and implement a robust operating framework that operates within a controlled and robust framework. 
• Lead the strategic direction of the corporate operations team ensuring alignment to customer demand (internal/external) and create competitor advantage where applicable. 
• Work as part of local management members and contribute to decisions made on strategic direction of the unit 
• Agreed and manage service offerings and SLAs with internal customers (agree annually and measure monthly). 

Accountability: Governance and Risk Management

• Create and maintain a risk dashboard and overall risk profile for Short-term Insurance. Agree on the acceptable risk appetite with input from group risk management functions
• Drive a culture of proactive compliance and risk management. 
• Oversee the implementation of, and conformance to, Group Risk and Compliance requirements within the operating environment, in line with set risk appetite 
• Ensure the fulfilment of all required governance activities, including tracking and reporting
• Determine action plans to effectively reduce and manage risk issues related to Internal Audit findings, Management Assurance findings, Compliance issues and Risk issues. Actively drive the completion of actions and review the issue assurance testing conducted on all closed items
• Act as key sponsor for the area’s Risk Management Control Framework. 
• Review audit scopes defined by managers in the team and Absa Internal Audit or Management Assurance prior to audits commencing. 
• Review audit issue and findings logs to ensure adequate attention are given to closure within the agreed timelines. 
• Complete required compliance and attestations and ensure that impacted team members complete their attestations. 
• Review and approve Risk and Control Assessments (RCA's) prepared in the function. Complete attestations to testify to the adequacy of controls on request.
• Oversee the design, implementation, maintenance, and continuous improvement of operational activities

Accountability: People Management

• Together with the People Partner for the business unit, determine the people management strategy for the area with a focus on culture, talent management, development, resourcing, and retention. 
• Coach, mentor and manage team members toward driving business objectives and ensuring colleague development
• Together with line leaders, develop a learning and development strategy that will address the current and future business needs. Ensure that adequate resources are set aside to execute the identified interventions.
• Ensure the establishment and regular update of succession plans for key and high-risk roles.
• Ensure that the business transformation, diversity, and inclusion objectives are incorporated and met.
• With the support from the People partner, interview and recruit direct reports.  
• Review workforce plans and reallocate resources where required.
• Approve outcomes of consistency check meetings for performance rating allocation and increases ⁄ short-term incentives.
• Review outcomes and key themes from the annual colleague engagement survey and collaborate with the People Partner to improve business results.
• Act as highest escalation point for all grievances raised in the business unit. 
• Review overall business unit performance and approve outcomes of consistency check meetings. 

Accountability: Stakeholder Management

• Actively promote and manage the collaborative engagement of internal and external stakeholders, including regulators, suppliers, clients, service providers, business partners and other Absa entities
• Build and maintain effective stakeholder relationships within the business, RBB and Group to ensure the unit is successfully positioned to manage risks and expectations and deliver on shareholder value.
• Represent Corporate Operations and participate in internal forums and governance structures as required or directed.
• Partner with the business Executive Committee to understand client needs and behaviours to improve and enhance customer experience
• Build a customer complaints resolution path with appropriate governance to manage escalations

Education

• NQF Level 6 – Honours / Master’s degree (preference a risk and or Insurance qualification).
• 15 years’ experience in financial institutions and 5 years’ experience in insurance
• Bachelor`s Degrees and Advanced Diplomas: Business, Commerce and Management Studies (Required)

Closing Date: 16th, March 2022