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  • Posted: Jun 3, 2021
    Deadline: Not specified
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  • Absa Bank Limited (Absa) is a wholly owned subsidiary of Barclays Africa Group Limited. Absa offers personal and business banking, credit cards, corporate and investment banking, wealth and investment management as well as bancassurance. Barclays Africa Group Limited is 62.3% owned by Barclays Bank PLC and is listed on the JSE Limited. The Group is one of A...
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    Operational Risk Manager: Home Loans

    Job Summary

    • To develop tactical strategy and delivery plans, formulate associated practice and to ensure operational implementation and adoption across a single practice i.t.o. risk methodology, governance and delivery objectives
    • To lead the team responsible for Home Loans business risk management activities covering all areas of the HL business (i.e. Sales, Product, Operations, Collections).  Focussing on risk identification and the implementation and oversight of effective risk controls in compliance with applicable regulatory and internal policies.

    Job Description

    Accountability:  Operational Risk reporting

    • Prepare various operational risk assessment reports as and when required by Group Operational Risk and submit the report to the Head of Risk for review. The risk assessment report should cover operational risk profile of the Business Unit (BU), operational risk losses and corrective actions related to internal audit and regulatory review comments. The assessment should be based on the status of implementation of operational risk policies and procedures.
    • Coordinate day-to-day monitoring of and reporting on the BU’s operational risks by completing; weekly, monthly, quarterly and semi-annual reports to management.
    • Act as Point of Entry for Operational Risk Reporting for the BU, ensuring that all reports are compiled and forwarded, when required.
    • Review and challenge the effectiveness of business management of operational risk and compliance with the operational risk framework and policies by reviewing directorates operational reports submitted to Operational Risk.
    • Coordinate implementation of principal risk frameworks and policies to ensure that there are mechanisms in place to identify and understand all occurrences of risk.
    • Review, challenge and validate BU profiles by comparing profiles with information on operational risk systems and perform quality assurance on all submissions received.
    • Represent the cluster on the applicable operational risk related forums, when required.
    • Liase with stakeholders of Principal Risks within other entities within the Group to promote alignment of the overall groups approach to Operational Risks.
    • Ensure preparation and sign-off of Group Risk reports and the validation thereof on a monthly and quarterly basis, including formulating an overall opinion of the risk status in the BU.
    • Provide executive management with an update on all identified risks and controls ensuring a level of comfort through effective risk management.
    • Report and present on all risk related activities such as: Risk events, indicators, Risk Framework implementation, Control issues, BCM readiness, Information Security and Sox to the Audit, Compliance, Risk and Regulatory Forums

    Accountability:  Interpretation operational risk

    • Design, implement and maintain the operational risk framework and policy, as well as supporting tools to align with Absa Group risk framework and policies by establishing standards for operational risk policies based on Group and local banking sector standards.
    • Review the operational risk framework, policies and procedures on a quarterly basis to ensure alignment with the Absa Group.
    • Escalate significant Operational Risk Exposures to Absa Operational Risk.
    • Work with principal risk coordinators to ensure that RCA's, Key Risk Scenarios, indicators, risk loss events are recorded in the relevant system as indicated in the operational risk guidelines.
    • Provide clear direction to team members on the operational risk strategic plan and key focus areas and ensure their understanding and buy-in.

    Accountability:  Compliance and Risk management framework

    • Lead the development and implementation of the business units (BU) Compliance and Risk Management Business Plan on an annual basis, by providing specialist advice and making recommendations for improvement on all matters pertaining to compliance and risk.
    • Ensure that all the risk governance requirements, standards and guidelines from the Enterprise Risk Management Framework are aligned to the agreed standards and regulations governing the risk discipline of the BU.
    • Provide overall specialist advice to senior management to assist in identifying and managing all risks.
    • Whenever a new project is identified, provide an overview of risk assessment to effectively mitigate any potential risks.
    • Provide a level of comfort to the BU’s executive management with respect to the adherence of policies and procedures by monitoring the execution thereof. Where necessary assist in the development of corrective actions to facilitate compliance.
    • Ensure effective co-ordination and execution of Operational Risk, Business Continuity Management, Health & Safety and Information Security activities with a view of minimising or reducing potential risks.
    • Drive the submissions of the operational risk profiles and provide BU Executive Management with an opinion regarding the risk profile the area.
    • Ensure compliance to regulatory compliance requirements by interpreting information in the regulation.
    • Perform risk management functions to ensure Risk Appetite and Tolerance through the analysis of Risk Indicators, amongst others, and reporting thereon.
    • Integrate risk principles and processes in order to contribute to an acceptable risk profile for the BU.

    Accountability:  Governance and Control

    • Ensure implementation of the Absa risk governance standards and policies in the BU, in the compilation and provision of required information to be included in the various Risk Governance Forums as well as to meet reporting and risk escalation requirements.
    • Provide Group Risk, Group Compliance, BU Management and other stakeholders with pertinent information regarding the compliance levels regarding risk credit policies and procedures, as well as regulatory requirements.
    • Keep up to date with changes and developments in all relevant legislation and regulations and participate in interpretation of these requirements ensuring successfully implementation
    • Create plans and work schedules aimed at evaluating systems and operations for potential risks aligned with the Group Risk, Principal risks and the SOX initiative.
    • Review risk management information compiled and challenge principal risk owners and coordinators on the controls they have in place to manage the operational risk within acceptable levels.
    • Drive management of the risk committees in accordance with Governance requirements, this includes collating and compiling data, interpreting, directing and managing information and analysis from various role players and to perform further analysis and interpretation as well as reporting thereon.

    Accountability:  People Management

    • Oversee the activities of the team to ensure effective delivery of service to stakeholders
    • Allocate duties to team members in order to achieve operational targets including prioritisation and work schedules.
    • Develop a high performing team by embedding formal performance development and informal coaching.
    • Encourage frequent knowledge sharing between team members.
    • Determine and analyse development needs for the team and ensure that identified training requirements are budgeted for and executed.
    • Establish and maintain a succession plan for the team.
    • Interview and recruit new members of the team, including determining appropriate compensation levels with input from Human Resources
    • Create effective workforce and recruitment demand plans to ensure that current and future business requirements can be met. Plans should be revised at least twice a year.
    • Review and update the department’s organisation structure and role description on at least an annual basis to ensure that they are fit for purpose and contain all the accountabilities of each team member.
    • Approve leave requests for team members and create leave plans to ensure adequate coverage.
    • When required, initiate disciplinary processes for team members calling on support from Human Resources when required.
    • Manage departmental budgets including signing off of invoices and quotes within mandate. Escalate out of budgets or items higher than approved mandate to the next level manager.
    • Resolve grievances raised by team members and escalate only if required.
    • Address poor performance of any team member through the formal Performance Accelerator programme and ensure that continued poor performance is appropriately dealt with.
    • Motivate team members and ensure that their efforts are recognised.
    • Keep up to date with and complete all compliance training applicable to the position

    Accountability:  Business management

    • Allocate duties to team members in order to achieve operational targets including prioritisation and work schedules.
    • Based on gaps identified, motivate requests to the manager for additional resources including people, budget and equipment.
    • Obtain a thorough understanding of the business unit’s strategy and explain it to team members in such a way that they understand the contribution they have to make.
    • Explain targets and take accountability for the monitoring and achievement of performance objectives in the department in terms of employee satisfaction, customer experience, cost performance, return on investments, risk, compliance and governance requirements. Create quarterly and monthly plans to ensure delivery for the year.
    • Manage departmental budgets including signing off of invoices and quotes within mandate. Escalate out of budgets or items higher than approved mandate to the next level manager.
    • Rigorously monitor expenditure against approve budgets and put measures in place to address variances.
    • Continuously identify areas for improved efficiency and reduced cost
    • Conduct basic statistical analysis to track performance variances and determine the root causes of errors.
    • Make recommendations for productivity or process enhancements to process owners
    • Implement productivity improvement measures by coaching staff on any new processes or on their areas for improvement.
    • Populate balanced scorecards for the specific department on a monthly basis. Work with the team to address shortcomings during the next month. Escalate any major issues identified to the next level manager.
    • Participate in the measurement and reporting of internal and external Service Level Agreements on a monthly basis. Address any process failures specific to the department under management.
    • Ensure that processes, control requirements and risk management frameworks that have been designed for the area are understood by all members of the team.
    • For audit findings that have an impact on the area, work with the Head of Risk to understand what actions are required to close out findings. Implement required actions.
    • During scheduled audits and management assurance reviews, ensure that all information required by the auditors are provided timeously.
    • Log all Risk and Loss events as a result of error or fraud highlighted in the department.
    • Ensure that the issues are thoroughly investigated and closed or escalated as per policy.
    • Monitor compliance training undertaken by team members and ensure that they complete the required training within prescribed timeline.
    • Ensure that all regulatory requirements are adhered to.
    • Ensure that the Business Continuity Tool is updated regularly. Arrange for team members to participate in BCM tests at the required intervals and document test results. Work with other managers in the area to implement corrective measures in case of test fails.
    • Ensure that all team leaders and members understand the control requirements related to physical and systems access control and information security requirements. Collect access cards from employees leaving the department or the bank and send instructions to IT and HR to remove their systems access

    ​Education and Experience Required

    • B-degree in Risk Management (NQF level no. 6)
    • 3 years operational risk environment experience or 3 years’ experience as an Operational Risk Officer or Manager

    Preferred

    • Exposure to Risk Governance and Control Committees
    • Experience in risk elements especially operational risk management
    • Experience in dealing with multiple stakeholders

    Knowledge and skills: (Maximum of 6) 

    • Knowledge of banking legislation
    • Knowledge of the Risk environment and Risk management

    Competencies: (Maximum of 8 competencies)

    • Deciding and initiating action
    • Learning and researching
    • Planning and organising
    • Relating and networking
    • Adapting and responding to change
    • Persuading and influencing
    • Creating and innovating

    Education

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

    Absa Bank Limited is an equal opportunity, affirmative action employer. In compliance with the Employment Equity Act 55 of 1998, preference will be given to suitable candidates from designated groups whose appointments will contribute towards achievement of equitable demographic representation of our workforce profile and add to the diversity of the Bank.

    Absa Bank Limited reserves the right not to make an appointment to the post as advertised

    Method of Application

    Interested and qualified? Go to Absa on absa.wd3.myworkdayjobs.com to apply

    Note: Never pay for any training, certificate, assessment, or testing to the recruiter.

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