Senior Manager - Operational Risk Management at PayFast

About the Position:

• We are looking for a Senior Manager Operational Risk Management who will be responsible for all areas of Enterprise Risk . You should have experience of Risk and Compliance frameworks, processes and methodologies and the ability to work with Senior Stakeholders from various business functions enterprise wide.

About you

You’d love working with us If you thrive working in a fast-paced environment helping meet the demands of our rapid growth.

You’ll fit in perfectly with our culture if you:

• Get energised by a fast-paced environment
• Cherish a good work-life balance
• Are adaptable
• Regard collaboration as an essential part of getting the job done
• Pride yourself as being a self-starter who doesn’t lack motivation
• Don’t need to be micromanaged
• Take feedback well and use it for self-improvement
• Welcome change and new ideas
• Value the importance of diversity

What you'll be doing:

Strategic Planning:

• Design and implementation of the function's vision, strategic objectives and roadmap
• Facilitate in the embedding of operational risk assurance model in the organisation’s three lines of defence through best-in-class operational assurance practices. Support the organisation in delivering value and achieving business objectives in a control environment through effective operational assurance activities and oversight.

Main Accountabilities:

• As a member of the operational risk management team, be the source of reference to business units in facilitating and promoting the understanding of operational risk and governance matters. Driving and implementing an effective risk management framework and promoting strong risk management culture across the organisation.
• Setting up and facilitation of appropriate governance structures; committees; policies, etc.
• Manage and oversee teams for the execution of the Operational Risk Assurance Program and Vendor Risk Management responsibilities.
• Oversight of the Incident Management and Operational Risk Loss reporting processes for tracking of incidents, operational losses and near misses.
• Facilitate timely identification and rectification of incidents by risk owners and risk champions. Perform verification of closure of remedial action of incidents to minimize recurrence of incidents, including similar/related incidents.
• Ensure quality of incident data for risk measurement.
• Oversight of the Risk assessment process which includes operational, financial and regulatory related risks (i.e. forward looking risk assessments; key risk indicators, etc.)
• Perform reviews of operational risk assessment of projects (ORAP), new or change initiatives, introduction of new products, services or systems and identify potential risks and provide risk mitigating control recommendations using a unified risk assessment standard across the organisation.
• Review Standard Operating Procedures and Process notes to identify procedural risks and recommend compensating controls
• Validate and challenge the risk identification and assessment of inherent and residual risks arising from its end-to-end processes. Assess the control environment, control design, control execution and control testing
• Planning and facilitating risk control self-assessments (RCSA) testing to mitigate risk and ensure that controls are operating effectively
• Performing follow-ups with business areas to ensure that identified risk is appropriately managed and mitigated
• Developing training material on awareness related content to educate stakeholders on risk management best practices
• Management Reporting: Submission of periodic reporting/dashboards on the organisation’s business Risk profile and status updates on actions plans

Leadership and People Management:

• Providing clear direction and guidance to the Operational Risk team, to achieve the function’s strategic objectives
• Inspiring, motivating, leading and managing the team to provide quality output and accountability
• Ensure skills assessments, competency-based training and career development planning takes place as and when required
• Approve hiring, oversee performance management and HR processes
• Develop and maintain an open communication channel with team members, which supports staff to foster greater self-efficacy, accountability, collaboration and teamwork

What you'll need

• Relevant bachelor or master’s degree or equivalent qualifications in Risk Management / Finance / Management Information Systems / Business Administration, with strong grasp over statistical tools and techniques
• Good understanding of Operational Risk Tools such as RCSA / KRI / Loss Data Management
• Exposure to Banking Operations, Payments, Card Operations, Merchant Acquiring Operations with reasonable experience in process management, MIS and data analysis.
• Good understanding of the eCommerce environment
• 10 -/+ years’ experience in a risk management role, preferably from the Financial Services/ Fintech or any e-commerce environment.
• Should have strong communication, negotiation, presentation and report writing skills.
• Ability to communicate with senior stakeholders i.e. Heads of Departments
• Strong analytical skills and systematic approach to problem solving
• Pro-active and self-starter who can work with limited supervision.