Risk Officer at Nedbank

Job Purpose

To monitor the implementation of the Operational Risk Management Framework in Nedbank and its subsidiaries to ensure compliance to regulatory requirements and alignment to the operational risk management framework and international best practice.

Job Responsibilities

• Instill a risk management culture in the business 
• Deliver on the Group Operational Risk Management (GORM) strategies and annual business plans aligned to regulatory requirements and take corrective action, where necessary.
• Provide input into the enhancement of the Operational Risk Management Framework (ORMF), methodologies, policies, processes and provide guidance to address operational risk challenges in Nedbank and its subsidiaries.
• Improve the effectiveness and relevance of internal and external loss operational risk data.
• Review outcome of operational risk practices of stakeholders.
• Independently monitor the risk environment of the business unit in terms of the Annual Risk Monitoring Programme
• Monitor and analyse major operational risk losses and control breakdowns as well as key risk indicator threshold breaches.
• Prepare all Risk reports, log monthly loss event data and monitor performance of key risk indicators 
• Identify potential future operational risks.
• Engage with stakeholders to understand their operational risk.
• 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 assurance providers.
• Contribute to a culture of transformation by participating in Nedbank culture building.
• Identify opportunities to influence the improvement or enhancement of business processes and methodologies.
• Perform a functional analysis on each of the departments within the business, co-designing solutions whereby the various processes are listed, driving the documentation of all business processes by workshopping, identifying processes with high risk and factor in mitigating controls
• Provide input into, and advice on the alignment between the Business Unit risk profile and risk appetite.
• Identify training courses and career progression opportunities to improve personal and professional capability
• Ensure all personal development plan activities are completed within specified timeframe.
• Share operational risk related knowledge, resources and practices with team and stakeholders.
• Obtain buy-in for developing new and/or enhanced processes that will improve the functioning of stakeholders' businesses.
• Establish effective communication links with Line Management to facilitate the monitoring of the risk framework
• Support the activities of Group risk, external and internal audit on inspections and investigations and audits
• Provide input into business projects

People Specification

• Essential Qualifications - NQF Level
• Advanced Diplomas/National 1st Degrees
• Preferred Qualification
• Bachelor of Commerce: Accounting , Bachelor of Commerce: Financial Management
• Essential Certifications
• Preferred Certifications
• Minimum Experience Level
• 3 - 5 years experience in risk management/audit, and/or 5 - 8 years experience in banking and/or insurance

Technical / Professional Knowledge

• Cluster specific operations
• Data analysis
• Governance, Risk and Controls
• Operational risk management
• Relevant Nedbank product knowledge
• Relevant regulatory knowledge
• Relevant software and systems knowledge
• Decision-making process
• Business writing skills
• Nedbank culture

Behavioural Competencies

• Communication
• Influencing
• Building partnerships
• Continuous Improvement
• Planning and Organizing
• Technical/Professional Knowledge and Skills