Senior Manager: Operational Risk - Johannesburg at Nedbank

Job Purpose

• To develop, monitor, and report on 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. 
• Coordinate the production of Risk Assurance reports to facilitate the effective monitoring and management of operational risk across the group and adhere to regulatory requirements. Drive the strategic effectiveness of Risk Assurance and continually enhance the operational risk governance processes.

Job Responsibilities

FACILITATE GOVERNANCE:

• Maintain a strong oversight of the Operational Risk Management Framework (ORMF) in terms of adherence to Group Policies and Procedures, regulatory requirements, and sound corporate governance principles.
• Provide input into the enhancement of the ORMF methodologies, policies, processes and provide guidance through research to address operational risk challenges in Nedbank and its subsidiaries.
• Ensure the implementation of the ORMF across Clusters. 
• Embedding and enhancing the Advanced Measurement Approach (AMA) and the New Standardised Approach (NSA) requirements.
• Ensure improved business results by providing strategic advice to the Group on the AMA, operational risk systems and operational risk management.
• Contribute to the setting of operational risk appetite for the Group, client facing Clusters and operational risk event type in line with the Group Risk Appetite Framework. 
• Manage the operational risk capital level, profile, and risk appetite ranges. 
• To provide guidance, assistance, and support to operating areas in the development of their own Risk Profiles on a continuous basis.
• Assess the relevance of the top international risks/emerging risks to Nedbank. 
• Champion innovation and best practice enhancements in operational risk management and oversight. 
• Improve the effectiveness and relevance of internal and external loss operational risk data through the analysis, interpretation and increased usage of operational risk data elements and benchmark against international best practice for improved operational risk practices. 
• Develop and execute the Risk Assurance plan to ensure adequate oversight and coverage of key risks within the Group.
• Review outcome of operational risk practices of stakeholders by analysing, reviewing, and assessing internal controls via targeted assurance reviews/activities. 
• Monitor and analyse major operational risk losses and control breakdowns through the facilitation of root cause analysis conducted by stakeholders and recommend appropriate corrective action and/or interventions. 
• Identify regulatory changes and potential future operational risk impacts through scanning of the business, regulatory and international environments to enable stakeholders to prepare for future potential operational risks. 
• Create, promote, and embed a culture of operational risk management by providing operational risk training interventions, client engagements and awareness.

MANAGE REGULATORY REQUIREMENTS:

• Maintain regulatory requirements and sound corporate governance principles.
• 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 minimise exposure.

BUILD RELATIONSHIPS:

• Establish, maintain, and manage strategic partnerships and long-term relationships with internal and external stakeholders. 

PROMOTE DEVELOPMENT AND LEARNING:

• Take ownership of your role and personal development to cultivate a deeper understanding of information to better meet requirements of internal and external stakeholders.

Essential Qualifications - NQF Level

• Professional Qualifications/Honour’s Degree

Preferred Qualification

• BCom in Risk Management, Finance, Financial Management, Accounting, Auditing, or Information Systems

Minimum Experience Level

• 10 years financial services experience;
• Significant Operational risk experience;
• Significant risk management experience;
• Significant internal control and assurance experience;

Type of Exposure

• Conducting root cause analysis
• Analysing situations or data that requires an in-depth evaluation of multiple factors
• Developing ways to minimise risks
• Drafting executive and board committee risk reports
• Managing conflict situations
• Influencing stakeholders to obtain buy-in for concepts and ideas
• Sharing information in different ways to increase stakeholders understanding
• Brainstorming ways of improving a product or situation
• Challenging the status quo with a view to improving the environment or peoples understanding
• Communicating standards to others
• Comparing two or more sets of information
• Conducting a needs analysis
• Writing business proposals  
• Working with a group to identify alternative solutions to a problem
• Interacting with diverse people
• Interacting with regulatory, supervisory and industry bodies
• Building and maintaining effective relationships with internal and external stakeholders
• Analysing and interpreting quantitative and qualitative data
• Interacting with various levels of management 
• Managing multiple projects
• Answering customer questions
• Communicating complex information orally
• Communicating complex written information
• Identifying trends 
• Identifying risk industry trends
• Checking accuracy of reports and records
• Conducting gap analysis
• Coordinating and securing buy-in from internal stakeholders
• Preparing and delivering presentation
• Providing professional advice/opinion
• Using different approaches in new work situations
• Analysing business operations
• Conducting research from multiple sources
• Conducting root cause analysis
• Integrating different sources of information

Technical / Professional Knowledge

• Cluster specific operations
• Communication Strategies
• Governance, Risk and Controls
• Operational risk management
• Principles of financial management
• Principles of project management
• Relevant regulatory knowledge
• Relevant software and systems knowledge
• Technologies