Operational Risk Manager at RMB - Rand Merchant Bank

To provide accurate analysis, monitoring and meaningful reporting of operational risk within RMB. The role provides critical assurance and risk mitigation by providing a view as to the adequacy and effectiveness of the controls in place and where required assists in their development. A strong focus deals with the co-ordination, report preparation and presentations at all levels. The function is the custodian of operational risk awareness within the business.

Responsibilities

• Facilitate the identification, assessment and relevant mitigation of operational risk in line with operational risk frameworks.
• Provide input into risk policies, strategies and measurement methods as they apply.
• Assess and analyse the capacity, resources and skills to ensure risk is appropriately mitigated.
• Identify control gaps in processes and recommend remedial actions.
• Develop and recommend appropriate additional Key Risk Indicators (KRIs) if relevant (including the revision of thresholds when required).
• Refer to legislation and policies when applicable and ensure alignment.
• Drive the value of risk awareness for the team through formal and informal training.
• Keep appropriate operational risk management system up-to-date with all Operational Risk Framework components.
• Liaise with relevant stakeholders across the departments in order to ensure that operational risks remain within tolerance levels and that relevant information is reported.
• Escalate significant risks through the RMB governance structure.
• Analyse and investigate the causes for operational events/ breakdowns, ensuring that operational events are adequately addressed with both a long term sustainable solution and interim mitigating controls.
• Develop strategic and tactical responses with management to address risk exposures.
• Derive pragmatic solutions to identified weaknesses, keeping in mind the risk vs. reward relationship.
• Review all key audit findings, assessing corrective action taken and completed final closing.
• Provide updated feedback to relevant governance committees on progress of significant items.
• Liaise with relevant stakeholders across the departments, assessing operational risk levels against defined tolerances with all relevant information reported.
• Escalate significant risks through the RMB governance structure.
• Review the relevance and accuracy of data and reporting on an ongoing basis.
• Log and report operational risk framework components onto operational risk system and to the various committees.
• Prepare the operational risk profile reporting for the relevant stakeholders/committees.
• Take full responsibility for performance management of all direct reports, managing their performance in relation to quality standards and agreed benchmarks and objectives, focusing on all aspects of sound people management:
• Recruitment
• Development
• Performance Management
• Remuneration and Rewards
• Career path planning
• On-the-job training, coaching & mentoring
• Ensure appropriate levels of management and accountability.
• Motivate, delegate and empower appropriately, enabling direct reports to take responsibility and display appropriate creativity and initiative.
• Work with the team to actively grow their skills and lead them in operational excellence.
• Define performance contracts for staff members.
• Monitor staff performance against agreed service levels and agreed performance contracts.
• Run weekly team meetings to ensure measurable and valuable feedback on daily operations.
• Build and maintain professional working relationships with all stakeholders, displaying excellent abilities to initiate dialogue, listen, advise, influence and negotiate to achieve win-win outcomes.
• Initiate meetings with key stakeholders to track progress, manage expectations and ensure stakeholders’ requirements are delivered.
• Preserves relationships despite airing conflicting views and seeks mutual gains when addressing conflicts.
• Anticipates consequences and adapts problem solving based on continual feedback.
• Act speedily to resolve problems, queries and complaints.
• Adapt communication styles to meet the needs of different audiences.

Self-management:

• Demonstrates pride in the organisation’s brand, services and products by consistently delivering on the brands promise.
• Plan and manage own workflow, anticipating obstacles, juggling priorities and following through on objectives within agreed time-frames and according to quality standards.
• Stay relevant and up-to-date with legislations and new development.
• Maintain a positive attitude and respond openly to feedback.
• Handle stress in ways that do not negatively impact others.
• Take ownership of personal career development, leveraging formal and informal opportunities.
• Act in an ethical, transparent and morally defensible manner, including highlighting unethical practices.

Teamwork:

• Continually share, debate and communicate learning’s.
• Flag and debate issues constructively.
• Contribute to a friendly, co-operative climate in working with others to achieve collective goals.
• Be sensitive to others feelings, needs, values, views and attitudes and be courteous and diplomatic when dealing with difficulties and problems others may be experiencing (EQ).

Additional Requirements

• Qualifications and Experience
• Minimum BCom or equivalent Degree; Risk Management qualification advantageous
• Minimum 2-3 years operational risk experience within the corporate and investment banking environment
• Process engineering background is a requirement for this role

Key Competencies:

• Analysis and Attention to Detail
• Excellence/Quality Orientation
• Judgement and Decision Making
• Rule Orientation
• Building Relationships
• Verbal and Written Communication
• Business Insight and Risk Awareness
• Monitoring and Measuring
• Teamwork
• Influencing and Impact
• Knowledge
• Presentation and Facilitation