Specialist: Risk - Operational Risk Analyst at Absa Group Limited (Absa)

Job Summary

• Primary objective is to support in enabling the Everyday Banking first line and second line teams in the implementation, execution, and monitoring of the Enterprise Risk Management Framework (ERMF) and Operational and Resilience Risk Framework (ORRMF). Provide Operational Risk and Resilience Management (ORRM) support to stakeholders in Everyday Banking with the adoption, embedment, and utilisation of risk frameworks, policies, standards, toolsets and systems. Support enhancements to processes and systems relating to the reporting and monitoring of risks, including the use of analytics. Ensure the quality and completeness of risk data and risk reporting. Effectively implement Absa Group ERMF and ORRMF policies and standards and embed effective ORRM practices within the business unit. Contribute to establishing and maintaining an integrated and effective risk management framework where risks are identified, quantified, analysed, reported, and managed on a consistent basis in line with the ERMF and the ORRMF, and utilising approved toolsets and systems.

Job Description

• Primary objective is to support in enabling the Everyday Banking first line and second line teams in the implementation, execution, and monitoring of the Enterprise Risk Management Framework (ERMF) and Operational and Resilience Risk Framework (ORRMF).  Provide Operational Risk and Resilience Management (ORRM) support to stakeholders in Everyday Banking with the adoption, embedment, and utilisation of risk frameworks, policies, standards, toolsets and systems.  Support enhancements to processes and systems relating to the reporting and monitoring of risks, including the use of analytics.  Ensure the quality and completeness of risk data and risk reporting. Effectively implement Absa Group ERMF and ORRMF policies and standards and embed effective ORRM practices within the business unit. Contribute to establishing and maintaining an integrated and effective risk management framework where risks are identified, quantified, analysed, reported, and managed on a consistent basis in line with the ERMF and the ORRMF, and utilising approved toolsets and systems.

Operational Risk Systems Adoption and Embedment

• Support the effective embedment of the Operational Risk Management System (ORMS), Policy and Compliance Management (PCM) system, and other risk management systems that enable the effective management, monitoring, and reporting of risks across Everyday Banking.
• Support business in the maintenance of risk information on ORMS, PCM, and other risk management systems by providing guidance on system utilisation to ensure appropriate data quality and standard conformance.
• Support the business with the resolution and escalation of issues relating to system usage.
• Keep abreast of proposed changes impacting system operations and availability and ensure adequate preparation and response measures are in place where there are significant changes in the pipeline.
• Work with various system administrators to ensure stakeholder support for ORMS, PCM, and related risk management systems.
• Drive a strong focus on quality of system information and risk reporting through the establishment and embedment of processes that ensure the reduction and remediation of data quality concerns.
• Support the Everyday Banking conformance review agenda through the assessment of data quality on ORMS and PCM.
• Undertake ad hoc system/tool design assignments as needed to drive enhancements for risk and control management purposes.
• Explore the utilisation of various tools and, where possible, align with industry bodies to build or enhance risk identification, analysis, monitoring, and reporting (e.g., emerging risks, external threat identification, etc.).

Reporting and Analysis

• Source/Supply and interpret the data for compiling the monthly and quarterly risk committee pack (or other adhoc reporting as required) and ensure data quality and accuracy of reporting.
• Perform analytics across all ORRMF elements to support risk identification, analysis, and the generation of insights on the Everyday Banking risk and control profile.
• Define dashboards for risk reporting (reference ORMS and PCM) that allow for the monitoring of the Everyday Banking risk and control profile and any related remediation efforts.
• Implement data analysis and reporting processes for ORMS and PCM, through existing governance.
• Ensure the completeness, accuracy, and validity of reporting through the monitoring of data quality on ORMS, PCM, and related risk management systems.

Operational and Resilience Risk Framework, Policies and Standards

• Drive policy and standard governance in line with the ERMF and ORRMF.
• Engage with Group Risk teams to ensure proper implementation of ERMF, ORRMF and related policies and standards within the business.
• Support the business in the implementation and embedment of ERMF and ORRMF requirements, including those applicable for Risk and Control Self-Assessments (RCSAs), Critical Process Assessments (CPAs), Issue Management, Risk Events, Key Indicators, as well as Dispensations Waivers and Breaches (DWBs).

Training and Awareness

• Contribute to the development of training materials for the Operational Risk Management System (ORMS), Policy and Compliance Management (PCM) system, and other related risk systems.  Provide ongoing support post the training.

Functional Governance

• Support the Operational and Resilience Risk Team in governance-related matters, including but not limited to monitoring and tracking the Operational and Resilience Risk strategic initiatives, providing administrative support for Manco meetings, tracking of initiatives, documentation of meeting minutes and tracking of meeting action items.

Education and Experience Required

• Relevant NQF level 6 qualification or B degree
• Minimum 3 years’ experience in a Financial Institution
• Minimum 3 years’ experience in an Operational Risk Environment.

Knowledge & Skills: (Maximum of 6)

• Knowledge of the risk environment and risk management principles.
• An understanding of the operations of a financial organisation.
• Keeping abreast of changes in industry and developing own competency through continuing education.

Education

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