Senior Operational Risk Manager – Business Banking at Absa Group Limited (Absa)

Job Summary

• The incumbent will be a member of the Business Banking (BB) 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 BB BU areas/portfolios in line with the Operational and Resilience Risk Management Framework (ORRMF).
• 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 BB Stakeholders.

In this role to incumbent will be responsible for:

• Supporting BB 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 BB.
• Enable management to monitor the effectiveness of the control environment and act towards mitigation of operational risk where required.
• Supporting an effective risk culture, where there is an open, proactive, and constructive dialogue relating to Operational Risk.

Job Description

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

• Providing clear direction to the BB 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.
• Act as the specialist in BB business for all elements of the Operational and Resilience Risk framework, including the ownership of related initiatives and support.

Accountability: Strategy Development & Formulation

• Provide input into the 2nd line strategy for managing operational risk across BB.
• 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 BB.
• Monitor Combined assurance strategy and actively participate in the combined assurance forum.
• 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.
• Establish risk appetite in conjunction with the business, to ensure that business maintains exposure in line with this appetite based on a balanced risk/reward decision.
• 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.
• 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 BB business units for completeness, with appropriate challenge.
• Check and challenge the end-to-end Operational Risk profile of the BB 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.
• Perform conformance reviews on agreed aspects of the framework.
• 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 BB 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 BB, where required.
• Represent BB 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 BB.
• Own and manage second line governance, where applicable.

Accountability: Combined Assurance

• Participation on BU assurance activities, in line with the combined assurance model and ensuring that are undertaken to independently assess the effective implementation and embedment of the ORRMF, its associated policies and standards and management of the underlying risks across the organisation and will include risk based.
• Assist in ensuring Business readiness for assurance reviews and deep dives. 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.
• Develop and execute, in collaboration with Internal Audit, Group Risk, Group Operational and Resilience Risk and Compliance, an effective and efficient methodology/working model for combined assurance (assurance and conformance assessment) of operational and resilience risk practices against the framework, policies and standards.
• To achieve the required 2LoD assurance responsibilities, perform conformance reviews to provide assurance that risk frameworks, policies and standards are effectively implemented and embedded within the BU, and perform discretionary control testing, in accordance with the Assurance Standard.

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 5 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.

Competencies

• Structured problem-solver
• Innovative way of solving problems
• Creative thinking
• Future thinking
• Open minded
• Resilient
• Adhering to principles and values
• Relating and networking
• Persuading and influencing
• Presenting and communicating
• Applying expertise and technology
• High levels of agility to adapt and respond to change

Knowledge and Skills

• Knowledge of Banking Legislation
• Knowledge of the risk environment and Operational Risk management
• Knowledge of risk regulation and industry standards
• Knowledge on Basel’s Principles for the Sound Management of Operational Risk

Education

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

End Date: August 4, 2025