Senior Risk Manager at Nedbank

Job Purpose

To ensure that the Group Risk Framework is embedded; operationalised and implemented within the business and provide advice and guidance to mitigate business risks and ensure that regulatory requirements are met.

Job Responsibilities

• Ensure all audit findings are implemented effectively and timeously. 
• Manage, collaborate and contribute to the production of the annual Own Risk Solvency Assessments (ORSA) for Nedbank Insurance. Also, provide input and assurance for the Group ICAAP submission. 
• Oversee the Risk Self Control Assessments (RSCA) methodology for the Nedbank Insurance business. 
• Responsible for the effective functioning for the Enterprise Risk Committee (ERCO).
• Contribute to a culture conducive to the achievement of transformation goals (targets) and support business strategies that improve corporate image by participating in Nedbank Insurance Culture building initiatives (e.g. Surveys etc.).
• Achieve business strategy by participating and encouraging others to participate in and support corporate social responsibility initiatives.
• Foster transformation of the workplace and support Nedbank achievement of the BEE initiatives and transformation targets; by contributing to an environment where diversity is valued.
• Improve work processes; productivity and reduce costs by offering innovative ideas and input to Group Risk and/or stakeholders and through soliciting input from managers and colleagues.
• Develop risk plans that enable the implementation of the business strategy by breaking it down into targets and obtaining approval of plan from relevant strategic committees such as EXCO; ERCO; BUCC; OPCOM etc. Ensure compliance with regulations and prevent losses by facilitating risk management in the business and by engaging with relevant stakeholders regarding risk related issues.
• Ensure alignment of area business processes to the Group Risk Framework by participating and providing information to Nedbank Risk Committees.
• Keep business updated on a regular basis and analyse information generated from the risk exercises by ensuring that risk monitoring exercises across the business take place and are in line with all known risks.
• Ensure business processes and systems are functioning by identifying and documenting risks.
• Track the performance and compliance of the team by allocating tasks to the team according to different risk areas.
• Ensure the business fully complies with risk standards by revising cluster risk process guidelines.
• Mitigate risks by providing the business with relevant information; guidance and advice based on regulatory standards; compliance and audit findings.
• Evaluate and analyse area audit findings and management improvement comments; by assessing whether actions will result in improvement and by making recommendations.
• Meet financial objectives by containing costs.
• Ensure improvements on identified risks by engaging with business; understanding risks and by creating action plans.
• Operationalise the Nedbank Group Risk Framework by ensuring that business unit level ERCO governance structure and charters are implemented; ensuring adequate risk reports generated; risk meetings held and risk processes aligned with group.
• Build relationships; by reporting risk issues and by providing risk related information to strategic committees; as per the Group Risk Framework.
• Build long-term relationships and support stakeholders in reaching business objectives by keeping abreast of and sharing industry information with stakeholders.
• Support the achievement of the business strategy; objectives and values by understanding Nedbank risk strategy and Business Unit Plan.
• Identify training courses and career progression for self through input and feedback from management.
• Ensure all personal development plan activities are completed within specified timeframe.
• Share knowledge and industry trends with team and stakeholders during formal and informal interaction.

People Specification

Essential Qualifications - NQF Level

• Advanced Diplomas/National 1st Degrees
• Matric / Grade 12 / National Senior Certificate

Preferred Qualification

Chartered Accountant, Honour's Degree in Commerce or Risk Management

Preferred Certifications

Minimum Experience Level

5 - 8 years' experience in Risk Management within the Insurance Industry.

People Management experience.

Technical / Professional Knowledge

• Banking knowledge
• Business Acumen
• Data analysis
• Governance, Risk and Controls
• Industry trends
• Principles of project management
• Relevant regulatory knowledge
• Business writing skills

Behavioural Competencies

• Communication
• Continuous Learning
• Decision Making
• Facilitating Change
• Influencing
• Technical/Professional Knowledge and Skills