Risk Manager at Nedbank

Job Purpose

To develop and monitor the implementation of the Operational Risk Management Framework in Nedbank and its subsidiaries to comply to regulatory requirements and ensure alignment to international best practice.

Job Responsibilities

• Deliver on the Group Operational Risk Management (GORM) strategies and annual business plans aligned to regulatory requirements (BASEL, Banks Act) and take corrective action, where necessary.

•  Provide input into the enhancement of the Operational Risk Management Framework (ORMF), methodologies, policies, processes.

• Improve the effectiveness and relevance of internal and external loss operational risk data.

• Review outcome of operational risk practices of stakeholders.

• Monitor and analyse major operational risk losses and control breakdowns.

• Identify regulatory changes and potential future operational risk impacts.

• Compile and/or provide input into internal operational risk reports and external disclosures.

• Engage with stakeholders to obtain an understanding of their operational risk practices to contract, manage and meet expectations.

• Develop and maintain partnerships with stakeholders to facilitate accomplishments of operational risk objectives.

• Become a trusted advisor to, and influence decision making of stakeholders by providing an advisory service, guidance and support on operational risk management practices.

• Facilitate collaboration between stakeholders.

• Collaborate and maintain relationships internally.

• Build and maintain relationships with relevant regulators and other assurance providers.

• Contribute to a culture of transformation by participating in Nedbank culture building initiatives, business strategy, and CSI.

• Stay abreast of developments in field of expertise, ensuring personal and professional growth.

• Understand and embrace the Nedbank vision and values, leading by example.

• Identify opportunities to influence the improvement or enhancement of business processes and methodologies adding value to Nedbank.

• Provide input into, and advice on the alignment between regulatory capital and Nedbank Clusters' risk profile and risk appetite by recommending corrective action or mitigating strategies to enable Clusters to reduce regulatory capital.

• Provide input, related to Operational Risk deliverables, into the GORM budget in line with finance requirements and business plans.

• Contract deliverables, services and pricing with Nedbank Clusters and agree transfer pricing allocation to Clusters.

• Use budget allocation effectively. Review Nedbank and Business Unit Plan and ensure delivered systems, process, services and solutions are aligned to support the achievement of the business strategy, objectives and values.

• Share operational risk related knowledge, resources and practices with team to enable upskilling.

• Obtain buy-in for developing new and/or enhanced processes that will improve the functioning of stakeholders' businesses.

Key Responsibilities

• Managed stakeholder relationships 

• Liaise with relevant stakeholders; including Group Risk functions; on a regular basis to assist in ensuring correct reporting to governance structures such as EXCo; ERCO; Group Risk Committee and OPCOM. Attend relevant Manco meetings/Risk forums to participate in and effectively guide stakeholders in risk management activities.

• Improved processes and culture 

• Contribute to a culture conducive to the achievement of transformation goals by participating in Nedbank Culture building initiatives (e.g staff surveys etc.). Participate and support corporate responsibility initiatives for the achievement of business strategy (e.g Green Strategy). Seek opportunities to improve business processes and systems by identifying and recommending effective ways to operate and adding value to Nedbank.

• Management & Process Results 

• Safeguard information against accidental or unauthorised modification; destruction or disclosure by analysing business information risk in the ambit of the innovation projects. Monitor for conformance to security policies; standards and architecture by providing guidance and facilitate the end-to-end security reviews on all innovation projects. Assist/facilitate risk management within the innovation projects; aligned with the Risk Management frameworks and guidelines. Ensure effective risk management for issues introduced through the innovation projects. Promote and maintain a culture of Risk awareness and accountability in the Division. Operationalise Risk Management methodology and tools by assisting management to compile risk profiles at strategic process levels. Mitigate identified risks; review risk profiles for completeness and quality; and make recommendations for improved alignment and effectiveness by consulting to the Division/Business Units on possible controls/action plans. Assist with operationalization of all components of Risk Management; ensuring that all relevant/related operational risks in GT areidentified and measured. Ensure adequacy of internal Risk Management processes and procedures is established/ measured. Assist in continuously reviewing and improving workflow and process efficiency. Review; analyse and follow-up on operational risk reports as required. Monitor conformance to security policies; standards and architecture.

• Managed Internal Process 

• Managed Financial and Business Results  

Essential Qualifications - NQF Level

• Advanced Diplomas/National 1st Degrees

Exposure/Experience

• Experience in risk assessment, management and compliance 

• Information Security

• IT Finance

Type of Exposure

• Conducting root cause analysis

• Developing ways to manage risks

• Drafting reports

• Sharing information in different ways to increase internal stakeholders understanding

• Writing business proposals

• Communicating complex written information Interacting with regulatory and industry bodies

• Identifying trends

• Preparing and delivering presentation

• Analysing business operations

• Managing multiple projects

Minimum Experience Level

• 3 - 5 years experience in Risk, Governance and Auditing and/or 8 - 10 years experience in banking and/or insurance

Technical Knowledge

• Governance, Risk and Controls 

• Information Technology concepts 

• IT Risk and security principles 

Behavioural Competencies

• Building Partnerships

• Communication

• Decision Making

• Stress Tolerance

• Technical/Professional Knowledge and Skills

• Adaptability