Manager Operational Risk at Absa

Provide independent and objective end-to-end Operational Risk oversight for defined for Retail Banking business units / products / functions in line with the Enterprise Risk Management Framework and Operational Risk Framework.
Support an effective risk culture, where there is an open, proactive and constructive dialogue relating to operational risk.
Inform business unit / products / functions risk profiles to help ensure operational risk is managed in line with approved risk appetite.
Enable management to monitor the effectiveness of the control environment and to take action to further mitigate operational risk where required.

Job Description
Accountability: Operational Risk Framework and Policy Oversight

• Providing clear direction to the business units / products / functions on the Operational Risk role, strategic plan and key focus areas
• Provide relevant coaching, guidance and training to the businesses on the implementation and maintenance of the Operational Risk framework components

(including RCSAs, KRIs, Events, Strategic Risk Assessments, and Key Risk Scenarios etc.) and capital drivers

• Assess the level of compliance of business for the relevant risk frameworks and policies
• Keep up to date and remain relevant with the Operational Risk framework, policies, standards, procedures and relevant legislation/regulations

Accountability: Operational Risk Management Oversight
Planning

• Assess, challenge and monitor the current and forward looking exposure (financial and non-financial) to Operational Risk (i.e.: considering all framework elements, strategic planning, business expansions/contractions and other major change programmes, including NPA)
• Act in an advisory capacity to support the scoping and definition of related

Operational Risk deliverables and plans, ensuring that these are aligned to the central Operational Risk calendar

Evaluation

• Assess the relevance and performance of the Operational Risk indicators and thresholds
• Review the key risk assessments related to the business unit/product/function for completeness, with appropriate challenge
• Check and challenge the end-to-end Operational Risk profile of the business

unit/product/function, including emerging risks, to ensure ‘no surprises’. Consider all framework elements, strategic planning, business expansions/contractions and other major change programmes / NPA

• Partner with the first line of defence to provide guidance on issue/action documentation, tracking, escalation and remediation
• Perform conformance reviews on agreed aspects of the framework
• Oversee deep dive- and lessons learnt exercises for material risks, including the review, challenge and tracking/escalation of findings. Review major remediation plans for adequacy, completeness and progress
• Oversee monthly loss event reconciliations and related attestations to ensure that all (above threshold) risk events and losses have been captured on the Operational Risk system.
• Leverage internal central engagement channels/resources, as appropriate

Accountability: Operational Risk Reporting

• Validate data and information in relevant reports provided by first line of defence, as appropriate
• Provide independent challenge on, and insight, interpretation and analytics from relevant reports to senior management
• Prepare appropriate current and forecast Operational Risk profile reporting for the business unit/product under review, as agreed.

Accountability: Operational Key Risk Officer Oversight (if required)

• Oversee the effective oversight and management of key risks by Key Risk Owners, to ensure that they exercise their responsibilities in line with the ERM framework
• Review the risk and controls prescribed by the Key Risk Owners into RCAs
• Assess the key risk framework for appropriateness
• Assess the relevance and performance of key risk indicators and thresholds
• Review and challenge the overall key risk assessments.

Accountability: Operational Risk Framework Element Ownership (if required)

• Act as the specialist in a business units / products / function for an Operational Risk framework element (e.g.: Risk Events), including the ownership of related initiatives and support
• Leverage central team

Accountability: Business Area/Product/Function SME, Africa-wide (if required)

• Recognised as subject matter expertise in the relevant business units / products / functions(s). Display a high degree of familiarity with the business and its current best practices, issues and objectives
• Liaise across African operations, leveraging internal central engagement

channels/resources as appropriate, to provide Africa-wide business unit / products / function(s) Operational Risk oversight and challenge

Accountability: Team Manager (if required)

• Provide leadership and direction where necessary
• Supervise, train or guide team members.
• Contract and manage performance, providing effective feedback

Accountability: Behavioural Competencies

• Personal accountability
• Independent in practice and in thought
• Engaged with a visible level of presence
• Drive the right risk culture in the business
• Appropriate level of curiosity
• Confident to responsibly challenge, even if based on gut feel and not on data or facts
• Ability to manage conflicts
• Influential
• Crisp and clear communicator, verbally and in writing
• See the big picture, however can get into the detail where necessary
• Focused without adopting a silo mentality

Education And Experience (Required)

• B-degree (NQF level no. 6) in business / banking / risk / accounting
• 5 years Operational Risk / banking / financial services environment experience
• 5 years’ experience as an Operational Risk Officer / Manager or Business Risk

Officer
Education And Experience (Preferred)

• 10 years Operational Risk / banking / financial services environment experience
• 10 years’ experience as an Operational Risk Officer / Manager or Business Risk Officer
• Exposure to Operational Risk Governance and Operational Risk and Control

Committees

• Experience with Risk Framework elements especially Operational Risk management
• Experience in dealing with multiple stakeholders

Knowledge And Skills

• Knowledge of banking legislation
• Knowledge of the risk environment and Operational Risk management
• Knowledge of risk regulation and industry standards

Competencies

• Adhering to principles and values
• Relating and networking
• Persuading and influencing
• Presenting and communicating
• Applying expertise and technology
• Analysing
• Adapting and responding to change