Operational Risk Administrator - Johannesburg at Absa Group Limited (Absa)

Job Summary

• To embed effective Operational Risk Management (ORM) reporting practises within Group Procurement and to effectively implement Group Procurement ORM governance and framework as per the ERMF. Contribute to establishing and maintaining an integrated and effective risk management framework where risks are identified, quantified and managed on a consistent basis via the specialised risk management execution framework on the bank’s various electronic risk platforms and governance forums. Provide technical / analytical ORM reporting as per ERMF requirements. Interpret risk data across Procurement and produce meaningful reports to various forums in the group.

Job Description

Accountability:  Operational Risk Administration 30%

• Ensure optimal positioning of operational Risk within Group Procurement by interpretation of operational statistical data in order to produce meaningful, high quality reports to various forums and stakeholders within the group.
• Taking of minutes / acting as Committee Secretary for these risk forums.  Socialize documentation with attendees and stakeholders for approval before meetings.
• Managing risk data and reports on various electronic platforms as per the Risk Governance Framework and the Committees’ Terms of Reference.  Socialising these before publishing it on the various electronic platforms.
• On an annual basis compile a risk management program with all the deadlines and report requirements that need to be covered, obtain sign-off from the line manager. Track progress against plan on a monthly basis and provide feedback to the line manager.
• Support with the annual Critical Risk Control Assessment Plan (Risk Identification; Risk Materiality Assessment; Risk Owner Acceptance; Control Identification; Testing and Remediation Reporting) in line with expected timelines.
• Support Key Risk Scenarios according to the input provided by the line managers in the business area and provide guidance to the requirements of the system.
• Obtain and maintain knowledge and understanding of all the greater Procurement functional activities.
• Build and maintain effective relationships with all relevant stakeholders within Procurement and stakeholders across the group.
• Ensure that risk log is kept updated and prepare Group Procurement updated reports as required.
• Manage the Dispensation, Waiver and Breach process.

Accountability: Compliance with Risk Policies, Framework 20%

• Obtain a clear understanding of the compliance and regulatory requirements that have an impact on the business area and communicate these requirements to the line managers in the business area.
• Support with updating the generation of Key Risk Scenario’s (KRS) for Group Procurement.
• Maintain risk data and reports on various electronic platforms as per the Risk Governance Framework and the Committees’ Terms of Reference.  Socialising these before publishing it on the various electronic platforms.
• Ensure clear steps are followed with regards to the Risk processes and ensure that risk acceptance and escalation of operational risk issues within Group Procurement are followed and adhered to. 
• Ensure clear steps are followed with regards to the Risk processes and ensure that authorities for sanctioning, risk acceptance and escalation of operational risk issues within Group Procurement are followed and adhered to.
• Support with risk advisory and training.
• Participate in Projects applicable to the function.

Accountability: Governance and Oversight 20%

• Ensure pro-active management of all operational audit action items and control issues, with a view to ensuring closure by due date.
• Ensure overall governance and effectiveness of the various governance structures in the ERMF 
• Arrange monthly Supplier Risk and Control Meetings in advance (secure venue and invite attendees) within parameters set out in the Terms of Reference

 Accountability:  Operational Risk Reporting 30%

• Obtain a clear understanding of all the requirements for operational risk monitoring and reporting and comply with all aspects when compiling reports, submitting updates or advising line management.
• Act as point of entry for Operational Risk Reporting for Group Procurement, ensuring that all reports are compiled and forward when required.
• Responsible for operational risk reporting (Accurate and on time).
• Support with the interpretation of operational statistical data in order to produce meaningful, high quality reports to various forums and stakeholders within the group.
• Prepare quarterly reports for submission to the relevant stakeholders and forums.
• Reporting on the status of Audit Issues, MA Issues, control issues, Control requirements, External audit observations as required in terms of the Operational Risk framework for submission to the relevant stakeholders.

Education and Experience Required

• Minimum NQF level 6 –  Risk Management, Sourcing or Project Management
• 3 years’ experience in operational risk management or related field.
• Any other Risk management related qualification

Knowledge & Skills: (Minimum of 6)

• Knowledge of the Operational Risk environment
• An understanding of the operations of financial organization
• Project Management skills and develops own competency throughrcontinuing education
• Report writing and data management / interpretation skills
• Full understanding of Risk Management and Risk management principles
• Good communication and team skills
• Proficient in MS Office (Word, Excel, PowerPoint, Visio and Outlook)
• Proficiency in IBM Open Pages preferred.

Competencies:  (Maximum of 8 competencies)

• Report writing
• Deciding and initiating action
• Presenting and communicating information
• Relating and networking
• Planning and organizing
• Analyzing
• Coping with pressure, deadlines and setbacks
• Learning and innovation
• Facilitating training

Education

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