OM Bank - Enterprise Risk Management Manager at Old Mutual

Job Description

• The Enterprise Risk Management (ERM) manager will be part of the Risk function, reporting to the Head of ERM and will assist with the development, implementation, and overseeing the bank's Enterprise risk management (ERM) framework, ensuring alignment with banking regulatory requirements, industry Risk best practice and standards, and the bank's strategic objectives.

KEY RESULT AREAS

Enterprise Risk Management

• Ensures alignment between the risk strategy and the strategic plan to facilitate implementation and promotion of a sound risk culture within the Bank.
• Assist in development of an effective ERM framework that supports the achievement of the Banks overall goals & objectives.
• Ensure that the requirements of the ERMF and Policy Framework are implemented by the Risk Owners for all risks set out in the risk taxonomy and policies.
• Ensure that the risk processes of the Bank are implemented by the Risk Owners in the First Line and providing challenge on the effectiveness of the controls implemented by the Risk Owners and the Business Heads through the Risk and Control Self-Assessment (RCSA) process.

Risk Strategy Development

• Assist in formulation and execution of a comprehensive risk strategy that aligns with the bank's overall business strategy
• Establish risk appetite statements, thresholds, and key risk indicators (KRIs) for different business lines
• Assist in defining and documenting the bank’s risk appetite and tolerance levels in collaboration with senior management and the board
• Drive integration of risk management within strategic decision-making processes
• Develop strategies and action plans to mitigate identified risks, including preventive measures and contingency plans
• Engage with key stakeholders, including senior management, and regulatory bodies, to communicate the risk strategy effectively
• Establish mechanisms for ongoing monitoring of risk exposure and the effectiveness of risk mitigation strategies
• Regularly review and update the risk strategy to reflect changes in the internal and external environment, including emerging risks and regulatory updates

Governance and Regulatory Reporting

• Design and implement a comprehensive governance framework that outlines the roles, responsibilities, and processes for risk management within the bank
• Create, review, and update risk management policies and procedures to ensure alignment with regulatory requirements and industry best practices
• Stay informed about changes in regulatory requirements and assess their implications for the bank’s operations and risk management practice
• Coordinate regular compliance audits and assessments to evaluate adherence to internal policies and external regulations
• Support the efficient coordination of Principal risk related governance committees including Model Risk Committee (MRC), Risk Manco and Risk and Capital Management Committee.
• Participate in the Combined Assurance reporting for the principal risks within the Risk Strategy and Governance space
• Prepare and provide regular reports to stakeholders on risk performance, governance metrics, and compliance with risk policies
• Continuously monitor changes in regulatory frameworks and assess their impact on the bank’s reporting practices

Strategic stakeholder management

• Regularly engaging stakeholders through meetings and presentations to discuss risk management strategies and gather feedback
• Ensure clear and effective communication of risk policies, governance frameworks, and strategic initiatives to stakeholders
• Engage with regulatory bodies, ensuring that their requirements and expectations are understood and met, including experience in Banks Act section 52, 54 applications, etc.
• Promote cross-departmental collaboration to ensure alignment on risk management objectives and initiatives
• Promote a culture of risk awareness and accountability among stakeholders at all levels of the organization
• Solicit feedback from stakeholders to improve risk management practices and governance structures

Enterprise Risk Processes

• Coordinate the risk appetite setting and review processes of the Bank for the risk function as part of the annual strategic planning process conducted.
• Assist with the preparation of the Board approval for the risk appetite of the Bank. Coordinate the preparation of the Bank's Resilience Plan for approval by the Board.
• RDARR
• Drive compliance with Risk Data Aggregation and Risk Reporting across the bank.

Risk Culture

• Be a role model and embed the Bank's risk culture set out in the ERMF in all activities. Assist the Head and CRO in evaluating the risk culture annually as per the requirements of the ERMF.

Emerging risk process

• Assist in the implementation of the emerging risk process, through the identifications and treatment of emerging risks.

OML Group engagement

• Engage with Group Risk Owners to assist with risk alignment, whilst maintaining Bank independence.
• Assists business to implement risk management systems in accordance with the approved ERM framework.
• Provides Advisory & line 2 oversight on key strategic programmes.
• Guides the business in improving organisational resilience and crisis management processes.
• General risk advisory to business on matters relating to reputational risk management.
• Risk appetite and ICAAP exercises to be subjected to scenario planning and stress testing that is aligned with the Bank’s business strategy.

Ongoing development

• Stay abreast with local and international developments in the field of Enterprise Risk Management.
• Risk awareness and training
• Assist to drive overall risk awareness and training initiatives pertaining to the ERMF.

ROLE REQUIREMENTS

Education and Experience:

• Chartered Accountant, Honours in Finance/Accounting/Risk management, FRM or related field.
• Minimum 8-10 years of strong risk management experience in a banking environment
• Good understanding of the South African banking regulatory environment and requirements (PA, FCSA, FinSurv, FIC, Information Regulator, NCR, and others).
• Experience with Capital, Liquidity, Credit, Treasury, Market, Operational Risk and IT Risk oversight and associated regulatory reporting requirements.
• Proven leadership and team management experience.

Skills and Competencies:

• Strong strategic and analytical thinking.
• Excellent communication and stakeholder management abilities.
• Strong knowledge of risk management tools and data analytics.
• High adaptability to technology and AI changes and ability to manage emerging risks such as pandemics, supply disruptions etc.
• Ability to foster strong cross-functional collaboration to ensure integrated risk management.

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

• 15 November 2025