Personal Loans and Savings & Investments: Operational Risk Manager at Absa Group Limited (Absa)

Job Summary

• The role needs to represent the second line of defense (Risk) for Operational and Resilience Risk in Personal Loans (PL) and Savings and Investments (S&I) in Everyday Banking (EB).
• It is intended to be a thought and strategy leader for operational risk and to drive improvement of the risk profile and associated control environment, leveraging off first line capability in each business area in EB.

Job Description

Accountability: Strategy Development & Formulation

• Provide input into the 2nd line strategy for managing operational risk across Everyday Banking (EB).
• Second line monitoring, checking and challenging first line in the setting and execution of the Operational Risk strategy, leveraging off 1st line Governance and Control Heads in each business area for execution, where applicable.
• Provide thought leadership and drive consistency in the second line approach to Operational risk across RBB.
• Monitor Combined assurance strategy and actively participate in the combined assurance forum.
• Ensure that each business areas has measures in place to monitor and manage their own fraud risk profiles.
• Drive the development and implementation of standards, where applicable.
• Establish risk appetite in conjunction with the business, to ensure that business maintains exposure in line with this appetite based on a balanced risk/reward decision.
• Drive the embedment of the Group Operational and Resilience Risk Framework, promoting the integration of operational risk consideration into all risk reward decisions and general business management.
• Actively play a senior role in the Management Committees of the product/service area assigned to, as well as in the Operational risk 2nd line Manco.

Governance and Assurance:

• Check and challenge Operational Risk governance followed by first line of defense.
• Check and challenge governance where 3rd Party vendors offer services to EB.
• Own and manage second line governance, where applicable.
• Review and challenge critical process assessments.
• Weigh in and challenge the Operational risk ratings in EB.
• Provide input to the Group Policy and Standards; and
• Contribute to the Operational Risk committees and forums.

Risk, Execution and Appetite

• Provide check and challenge during the Product development process to ensure that all risks have been considered and sufficiently addressed.
• Family reviews across product areas.
• Oversee and perform (where appropriate) deep dive- and lessons learnt exercises for material risks, including the review, challenge and tracking / escalation of findings. Review major remediation plans for adequacy, completeness and progress.
• Operational Risk policy and standard conformance testing.
• CPA / RCSA / MCA review and oversight at product level.
• Fraud management oversight.
• External scanning of emerging risks and best practice.
• Independent assurance testing and deep dives.
• Challenge business risk profiles to help ensure risk is managed in line with approved risk appetite.
• Enable management to monitor the effectiveness of the control environment and to take action to further mitigate operational risk where required.
• Provide specialist Operational and Resilience risk guidance and support to management, including developing proposed solutions for areas where remediation is required, in support of the Transactional Banking Strategy.

Reporting

• Review and Challenge first line of defense reporting on the risk profile.
• Compile and/or review reporting to senior forums and Regulators on behalf of EB, where required; and
• Represent EB in reporting forums across the Bank and with external parties such as assurance providers and Regulators.

Stakeholder Management

• Communicate risk profile to the EB Heads of Business Areas (Execs);
• Collaborate with Group Risk on fraud topics pertaining to the policy, standards, governance and performance; and
• Own key relationships with various senior stakeholders across risk types, functions and business areas, and on a case by case basis, with external parties such as assurance providers and regulators.

Accountability: Business Management

• Develop and maintain relationships with key Executives/Senior Business Leaders across RBB to drive ownership of the management and general awareness of operational risk and to promote a proactive risk/reward approach to the management of operational risk.
• Attend risk forums and industry forums to enable the role holder to stay abreast of developments in the risk management world.
• Agree targets and take accountability for the overall achievement of these targets in EB.
• Act as key advisor to business unit heads during the review of opportunities for the creation of new business categories, acquisitions, disposals or new joint ventures that will have Group wide impact.

Accountability People

• Build and sustain a culture that aligns with EB’s aspirational colleague and customer experience to deliver target customer experience and financial performance.
• People management of direct reports, where required.

Education

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