RB Risk Chief Operations Officer at Absa Group Limited (Absa)

Job Summary

• The Chief Operating Officer (COO) is responsible for driving operational efficiency, leading strategic change initiatives, and overseeing the day-to-day operations within the Risk function. This role is pivotal in implementing transformative projects that enhance the bank's risk management capabilities, including technology adoption, process improvement, and cultural change. The COO collaborates closely with all risk functions to ensure alignment with the BU's strategic objectives and fosters a culture of continuous improvement and risk awareness.

Job Description

Accountability: Strategic Change and Transformation Initiatives

• Lead the design and execution of transformative change programs within the Risk function.
• Identify opportunities for innovation and improvement in risk management processes and systems.
• Oversee the implementation of new technologies, including automation, artificial intelligence, and data analytics tools.
• Manage change management efforts to ensure successful adoption of new initiatives across the risk function.

Accountability: Operational Efficiency and Process Improvement

• Analyze existing operational processes to identify inefficiencies and areas for enhancement.
• Implement best practices and standardize processes across the Risk function.
• Monitor operational performance metrics and drive initiatives to improve efficiency and effectiveness.
• Ensure that operational processes are compliant with regulatory requirements and internal policies.

Accountability: Finance Management and Budgeting for the Risk Function

• Oversee financial planning, budgeting, and cost management for the risk department.
• Develop and monitor budgets to ensure optimal allocation of resources.
• Collaborate with finance teams to align risk function budgets with overall organizational financial plans.
• Implement cost-saving initiatives without compromising the quality of risk management.

Accountability: Technology Implementation and Innovation

• Lead the adoption of cutting-edge technologies to enhance risk management capabilities.
• Work closely with IT and data teams to implement risk management systems and tools.
• Ensure that technology initiatives support strategic objectives and improve risk processes.
• Promote the use of data analytics, automation, and AI within the risk function.

Accountability: Business Management and Administration

• Oversee business management activities, including planning, reporting, and governance processes.
• Ensure compliance with organizational policies and regulatory requirements in all administrative matters.
• Manage vendor relationships and oversee procurement processes relevant to the risk function.
• Maintain up-to-date documentation of processes, procedures, and policies.

Accountability: Risk Support Services Coordination

• Manage administrative and operational support services for the risk function.
• Ensure that support functions provide high-quality services to all risk teams.
• Coordinate training and development programs for risk personnel.
• Facilitate effective communication and collaboration among different risk departments.

Accountability: Culture and Change Management

• Champion a positive risk culture that aligns with the bank's values and strategic objectives.
• Collaborate with team to embed a strong risk-aware culture.
• Lead initiatives to promote cultural change and enhance employee engagement within the risk function.
• Foster an environment that encourages innovation, collaboration, and continuous learning.

Education and experience required

• BCom (NQF 8) Degree or equivalent
• 5 years or more experience in a similar role within the financial industry, preferably in banking

Education

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