Operational Risk Specialist – Enablement, Governance and Reporting at Absa Group Limited (Absa)

Job Summary

• The incumbent will be responsible for delivering Operational Risk Management Information (ORMI) services to the Relationship Banking risk team, as well as effectively embedding Operational and Resilience Risk Management (ORRM) practices, within the Business Unit (BU) and effectively implement the associated Absa Group ORRM policies and framework. 
• Contribute to establishing and maintaining an integrated and effective risk management framework where risks are identified, quantified, analyzed, reported, and managed on a consistent basis via the specialized risk management execution framework. 
• Provide technical ORRM expertise, training and advice to leadership and all stakeholders in the BU, including adoption, embedment, and use of the Operational Risk Management System (ORMS).

Job Description

Accountability: Operational and Resilience Risk Framework Embedment

• Document, contribute and adhere to the development of standards, operating procedures, and guidelines for operational risk activities within the area of accountability.
• Provide advice and support for value-added process improvements, initiatives, and services.
• Identify and contribute to the development of solutions to improve operational risk management service and quality and escalate unresolved issues to management and process owners.
• Perform operational risk data trend analysis, and benchmarking exercises to enable business to make informed decisions.
• Monitor and support timeous capturing, approval and the quality of data captured for Risk and Control Self-Assessments (RSCA), Key Risk Indicators, Critical Process Assessment (CPA), Risk Events, Issues and Actions including Dispensations Waivers and Breaches (DWB’s) on the Operational Risk Management System (ORMS) and Policy and Compliance Management System (PCM) system.
• Perform monitoring and conformance testing to standards and framework requirements.
• Perform combined assurance monitoring, i.e., monitoring on issues and actions raised by all assurance providers, and keep record of all assurance reviews completed, currently being performed, or still planned.
• Monitor any other Operational Risk registers required from a centralized Relationship Banking perspective.
• Establish processes to perform regular Operational Risk benchmarking, using both internal and external (industry) data.
• Monitor mandatory escalation required by Operational Risk Policy is performed (losses above threshold, indicators above threshold, data quality issues).
• Understand and apply existing best practice frameworks to assist in the implementation of identified subject matter processes and standards.
• Provide specialist advice and support in area of accountability to ensure that identified solutions and recommendations are appropriate and effective.

Accountability: Training and Awareness

• Ensure adequate stakeholder training for the Operational Risk Management System (ORMS), Policy and Compliance Management (PCM) system, and other related risk systems. Provide ongoing support post the training.

Accountability: Operational Risk Systems 

• Support business in the maintenance of risk information on ORMS and PCM by providing guidance on system utilization to ensure appropriate data quality and standard conformance.
• Support the business with the resolution and escalation of issues relating to system usage.

Accountability: Functional Governance

• Support the Operational and Resilience Risk Team in governance-related matters, including but not limited to monitoring and tracking the Operational and Resilience Risk strategic initiatives, providing administrative support for Manco meetings, tracking of initiatives, documentation of meeting minutes and tracking of meeting action items.

Accountability: Operational Risk Reporting and Analytics

• Participate in the ORMS (Operational Risk Management System) and PCM (Policy and Compliance Management System) program to ensure that any new requirements / modules are effectively implemented within Relationship Banking.
• Source/Supply information and compile the inputs to monthly and quarterly Executive Risk Committee pack and other governance committees, validating data quality and accuracy of reports.
• Support the management reporting of all key concerns as appropriate through monthly and quarterly risk committees, forums, and governance committees, thus ensuring that senior management is fully aware of any key concerns that may impact Relationship Banking.
• Ensure the completeness, accuracy, and validity of reporting through the monitoring of data quality on the Operational Risk Management System (ORMS), Policy and Compliance Management (PCM) system, and related risk management systems.
• Periodically report on all risk framework elements by utilizing data as a key enabler.
• Continuously work on improving the data analytics capability by proactively deriving insights to enhance management information and provide efficiencies on reporting.
• Perform data gathering, modelling and analysis for key risk measurement activities, i.e., scenario analysis, key risk indicator monitoring, risk events analysis.
• Oversee monthly loss event reconciliations and related attestations to ensure that all (above threshold) risk events and losses have been captured on the Operational Risk system.
• Report on transactional and process activities to enable timely and effective decision making.
• Provide regular combined assurance MI in line with business and Group requirements, including combined assurance insights on the data analyzed.
• Perform continuous monitoring of assurance partner issues and actions, obtain status updates, and provide reporting to the business teams to enable timeous closure of items.
• Support the assessment and reporting of Dispensations, Waivers and Breaches (DWBs) requirements.
• Keeping abreast of legislation changes, working with legal, external suppliers and other regulatory bodies.
• Report on results analysis to the Operational & Resilience Risk Manager.
• Source/Supply information and compile the monthly Risk Council pack and ensure data quality and accuracy of reporting.
• Source information and interpret the data to compile the quarterly reports.
• Ensure mandatory escalation required by Operational Risk Policy is performed (i.e. losses above threshold, indicators above threshold, data quality issues, etc.).

Accountability:  Stakeholder / Client / Customer

• Maintain and develop awareness of risk management issues and changes.
• Support to Relationship Banking Operational Risk and Resilience (2LoD) and Governance Risk and Control (1LoD) Teams as well as engagement and alignment with Group Operational Risk team for ORM requirements.
• Engagement with 3 Lines of Defense.
• Support risk team in developing and providing BUs with relevant training and guidance documents.
• Identify and recommend new innovative ways of achieving quality results.
• Provide specialist support to meet customer expectations in line with customer service delivery principles.

Accountability: Learning and Growth

• Provide expertise, participate, and contribute to a culture of work centric thinking, productivity, service delivery and quality management.
• Support and contribute to the successful implementation of change initiatives.
• Keep up to date with own area of expertise to develop and maintain own professional knowledge base in order to provide effective support and advice.
• Interact proactively with others for the purpose of continuous knowledge sharing and integration of own new knowledge.

Education and Experience Required

• Relevant NQF level 7 qualifications or B degree
• 3 years’ experience in a Financial Institution / similar environment
• 5 years’ experience in Risk Management, with a focus on Operational Risk being advantageous, alongside exposure to other risk domains such as Financial Risk, Model Risk, etc.
• Relevant Professional certification, or any other related qualification advantageous.

Education

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