Senior Manager: Operational Risk Enablement, Governance and Reporting – Relationship Banking at Absa Group Limited (Absa)

Job Summary

• The incumbent will be a member of the Relationship Banking (RB) Operational and Resilience Risk team and will be required to work closely with both the Group Operational Risk team and First line of defense teams, embedded within the business. The incumbent will also be responsible to help determine the overarching Operational and Resilience Risk strategy and for providing risk oversight of RB BU areas/portfolios in line with the Operational and Resilience Risk Management Framework (ORRMF) and Enterprise Risk Management Framework (ERMF).  This role is directly accountable to the RB Head of Operational Risk Enablement, Governance and Reporting to ensure effective support and delivery of the overall RB ORR strategy. This involves operational risk management in an area where innovation is top of mind and where traditional operational risk management techniques will be balanced with the need to find creative solutions for the benefit of RB Stakeholders.

To elevate the impact of Operational and Resilience Risk within RB, the incumbent will be accountable for the delivery of: 

• Risk measurement, monitoring, assessment, and analytics of the portfolio.
• Enable management to monitor the effectiveness of the control environment and act towards mitigation of operational risk where required.
• Supporting RB business units by providing independent and objective end-to-end Operational Risk oversight in line with the Enterprise Risk Management Framework (ERMF) and ORRMF, together with its various supporting policies and standards.
• Overseeing the aggregation, implementation, monitoring and maintaining of core risk management and assurance processes across business units within RB.
• Supporting an effective risk culture, where there is an open, proactive, and constructive dialogue relating to Operational Risk.
• Reporting, including portfolio and Business Unit (BU) insights and ensuring capability directed appropriately in support of internal and external reporting requirements.

Job Description

Accountability: Operational Risk Framework and Policy Oversight & ownership (at BU level)

• Providing clear direction to the RB business units on the Operational and Resilience Risk role, strategic plan and key focus areas.
• Provide relevant coaching, guidance and training to the businesses on the implementation and maintenance of the Operational and Resilience Risk framework components (including Risk and Control Self-Assessment, Risk indicators, Events, Strategic Risk Assessments, and Key Risk).
• Assess the level of compliance of business for the relevant risk frameworks and policies.
• Keep up to date and remain relevant with the Operational and Resilience Risk framework, policies, standards, procedures and relevant legislation/regulations.
• Drive an appropriate analytics capability across all framework elements, i.e., risk events and issue management, to enable proactive analysis and insights of the risk profile, to adequately evaluate, respond and monitor.
• Manage Scenario analysis and capital processes for RB in conjunction with Group ORR.
• Act as the specialist in RB business for all elements of the Operational and Resilience Risk framework, including the ownership of related initiatives and support.
• Ensure that RB Risk Management systems and tools are used, and that data is accurate, of good quality and current.

Accountability: Strategy Development & Formulation

• Provide input into the 2nd line strategy for managing operational risk across RB
• 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 resources in each business area for execution, where applicable.
• Provide thought leadership and drive consistency in the second line approach to Operational risk across RB.
• Ensure that each business areas has measures in place to monitor and manage all of the ORRMF sub risk type profiles.
• Drive the development and implementation of standards, where applicable.
• Risk appetite setting, in conjunction with Group counterparts and drive the cascade into RB. Monitoring adherence against Risk appetite statements (RAS) and/or tolerance levels, with the use of appropriate key risk indicators
• Drive the embedment of the Group ORRMF, promoting the integration of operational risk considerations, 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.

Accountability: Operational and Resilience Risk Management Oversight Planning

• Assess, challenge and monitor the current and forward-looking exposure (financial and non-financial) to Operational Risk (i.e., considering all framework elements, strategic planning, business expansions/ contractions and other major change programmes, including new product approval).
• Act in an advisory capacity to support the scoping and definition of related Operational and Resilience Risk deliverables and plans, ensuring that these are aligned to the Group Operational and Resilience Risk calendar.
• Drafting of Cluster specific standards and influence and collaboration across the entire value chain, from conception to implementation of these standards.
• Assist in ensuring Business readiness for assurance reviews and deep dives and play an active role in the discussion of issues to be reported from assurance reviews, ensuring that issues are valid and factually accurate, and actions are well defined and timed appropriately

Accountability: Operational and Resilience Risk Evaluation

• Assess the relevance and performance of the Operational and Resilience Risk indicators and thresholds.
• Review the key risk assessments related to the RB business units for completeness, with appropriate challenge.
• Check and challenge the end-to-end Operational Risk profile of the RB business units, including emerging risks, to ensure ‘no surprises’.
• Consider all framework elements, strategic planning, business expansions/contractions and other major change programmes / new product approval.
• Partner with the first line of defence to provide guidance on issue/action documentation, tracking, escalation and remediation.
• Coordination of the 2nd line of defence approach and responsibilities pertaining to end-to-end fraud risk management across RB, working with the Group ORR and Fraud Strategy teams (1st line of defence).
• Manage and coordinate RB cluster Combined Assurance program.
• Perform conformance reviews and control testing on agreed aspects of the frameworks.
• Oversee 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
• 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.
• Leverage internal central engagement channels/resources, as appropriate.
• Oversee the effective oversight and management of all sub risk types within the ORRMF.
• Assess the key risk framework for appropriateness.
• Assess the relevance and performance of key risk indicators and thresholds.
• Review and challenge the overall key risk assessments.
• Provide input to the Group Policy and Standards; and Contribute to the Operational Risk Committees and forums

Accountability: Operational Risk Governance and Reporting

• Validate data and information in relevant reports provided by first line of defence, as appropriate.
• Provide independent challenge on, and insight, interpretation and analytics from relevant reports to senior management.
• Ensure appropriate reporting and escalation at the various BU Governance Forums.
• Prepare appropriate current and forecast Operational and Resilience Risk profile reporting for the RB business units as agreed.
• 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 RB, where required. Ensure delivery of internal and external reporting in line with the Cluster and Group requirements, including compliance to BCBS239.
• Represent RB in reporting forums across the Bank and with external parties such as assurance providers and Regulators.
• Check and challenge Operational Risk governance followed by first line of defense.
• Check and challenge governance where 3rd Party vendors offer services to RB.
• Own and manage second line governance, where applicable.
• Utilisation of various external tools and industry bodies, to foster and bolster the emerging risk capability across the non-financial risk types. Emerging risk and threat monitoring via horizon scanning including active participation in ORX (Operational Riskdata eXchange association) workstreams and utilisation of data insights from external sources and coordinating efforts for non-financial risk within RB, in conjunction with Group ORR.
• Create and maintain a central communication portal for RB Risk and ensure knowledge content is fully current.

Accountability: People and Organisation

• Direct resources in the most effective and efficient manner to execute the RB ORR strategy, including, but not limited to:
• Support the designed and embedded operating model for the RB Operational Risk Enablement, Governance and Reporting team, in the execution of the ORRMF mandate.
• Enabling delivery of a supporting Risk Culture to deliver performance consistent with the Group’s Purpose and Values.
• Defining personal scorecard objectives and measures for employees that align to the Function’s Plan and Absa Balanced Scorecards.
• Directing performance objectives and remuneration structures for the team designed to achieve a balance between risk, individual reward, and the long-term objectives of the Group.
• Input to, coordination and support of the performance management process of employees.
• Participation in the talent development and succession plans; and

Accountability: Behavioural Competencies

• Personal accountability.
• Independent in practice and in thought.
• Engaged with a visible level of presence.
• Drive the right risk culture in the business.
• Appropriate level of curiosity.
• Confident to responsibly challenge, even if based on gut feel and not on data or facts.
• Ability to manage conflicts.
• Influential.
• Crisp and clear communicator, verbally and in writing.
• See the big picture, however, can get into the detail where necessary.
• Focused without adopting a silo mentality

Education and Experience (Required)

• B Degree in Commerce, Risk Management or other risk focused subject matter.
• Post Graduate Qualification in Risk Management (advantageous)
• Relevant Subject matter certifications and/ or professional body membership advantageous.
• Minimum 6 yrs. Operational Risk Management experience.
• Retail or Business Banking or equivalent experience essential.
• Change management experience essential, especially new and amended product and service approval governance processes.
• Exposure to Operational Risk Governance and Operational Risk and Control Committees.
• Experience with Risk Framework elements especially Operational Risk management.
• Experience in dealing with multiple senior stakeholders.
• Experience in managing a team.

Education

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