OM Bank - Credit Risk Manager at Old Mutual South Africa

Job Description

• The role operates within the second line of defence, providing independent oversight of credit risk management activities within the business. The role focuses on supporting the business in the identification, measurement, and aggregation of credit risk, ensuring that practices are effectively implemented and aligned with strategic objectives.
• As a subject matter expert in credit risk, the incumbent provides guidance and structure to ensure credit risk management processes are sound, compliant, and fit for purpose. The role also encompasses model risk governance, offering input to ensure that model development, validation, and usage there-of adhere to established governance standards.
• Success in this role requires dynamic analytical capabilities and familiarity with a range of methodologies to assess and resolve complex or ambiguous credit risk challenges. 
• This role also contributes analytical insights and support to the broader Risk function, enhancing the business’ ability to monitor, govern, and control risk exposures effectively.

KEY RESULT AREAS

Line 2 Oversight / Independent Monitoring

• Perform independent monitoring of the credit and financial performance of the Business Unit, tracking performance against Key Risk Indicators (KRIs) and Business Plans (BP).
• Provide independent challenge to first-line credit risk management practices across operational, financial, and strategic risk domains.   
• Participate in risk committees and working groups, escalating key issues as needed.
• Ensure timely and accurate reporting to relevant governance committees.
• Support business units in the identification, measurement, and aggregation of credit risk.
• Provide guidance on credit risk frameworks, ensuring alignment with regulatory standards and internal policies.
• Evaluate and enhance credit risk management processes, ensuring they are sound, effective, and aligned with business objectives.
• Collaborate with stakeholders to ensure risk appetite and limits are appropriately defined and monitored

Impact Assessments & Model Risk Governance

• Ensure model governance processes are appropriately implemented, documented, and compliant with internal and external standards.
• Support the development and maintenance of model inventories, risk ratings, and performance monitoring protocols.
• Perform independent impact assessments, and review and monitor credit initiatives and models to ensure sound risk practices.

Analytical Support & Risk Monitoring

• Conduct analytical reviews to support the effective monitoring and control of risk exposures, identifying trends and anomalies.
• Apply analytics to assess complex or ambiguous credit risk issues.
• Deliver actionable insights through data-driven analysis, stress testing, and scenario modeling.
• Contribute to the design and implementation of risk dashboards, metrics, and reporting tools.

Governance & Policy Adherence

• Ensure governance processes are followed, including adherence to risk policies and validation of model changes and implementations.
• Assist in the development of risk policies, procedures, and control frameworks.

Stakeholder Engagement      

• Engage with key stakeholders across business units, risk teams, compliance, internal audit, and other assurance functions to ensure a cohesive and coordinated approach to risk oversight.
• Facilitate open communication channels to align on credit risk priorities, share insights, and support integrated credit risk management strategies.
• Present findings and insights to senior management and governance forums.
• Influence risk culture and promote best practices through proactive engagement, training sessions, and thought leadership.

ROLE REQUIREMENTS

• Bachelor’s degree in Risk Management, Business Mathematics/Actuarial/Financial Engineering/Informatics or a related field
• 5 Years + in a similar role
• 5+ years of proven experience in credit risk management and model risk governance, ideally within a financial institution or regulatory environment.
• Understanding of risk frameworks and governance processes.
• Solid analytical skills.
• Proficiency in data analysis tools (e.g., Excel, Power BI, SQL, or Python).
• Strong communication and stakeholder engagement skills.
• Excellent written and verbal communication skills.

Skills

• Adaptive Thinking, Business Requirements Analysis, Change Management, Current State Assessment, Data Compilation, Executing Plans, Oral Communications, Policies & Procedures, Policy Development, Presenting Solutions, Professional Presentation, Strategic Planning

Competencies

• Builds Effective Teams
• Builds Networks
• Business Insight
• Collaborates
• Communicates Effectively
• Customer Focus
• Ensures Accountability
• Financial Acumen

Closing Date

• 02 November 2025