Job Opportunity at ABSA – Operational Risk Manager
Operational Risk Manager
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With over 100 years of rich history and strongly positioned as a local bank with regional and international expertise, a career with our family offers the opportunity to be part of this exciting growth journey, to reset our future and shape our destiny as a proudly African group.
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To support business management in the identification and effective management of risks to which their Business/Function may be exposed, ensuring that effective control environment exists and actively managed in order to reduce operational losses and improve Business-Operating Effectiveness.
To help the Chief Risk Officer (CRO) implement, embed and maintain all aspects of the Enterprise Risk Management Framework (ERMF), Operational Risk Management Framework, Combined Assurance Standard, NAPA Policy, Product Risk Policy and RDARR policy and Standard which aims to achieve the aforementioned objective.
Main accountabilities and approximate time split
Risk Assessment, Analysis & Reporting 60%
- Implement an agreed programme of operational risk assessments (RCAs/CPAs) to identify the key business process risks, determine the effectiveness of operational controls and drive out remedial actions for improving the business’ control framework.
- Monitor the progress of risk and control remediation action plans (e.g. Arising from Risk and Control Self-
- Assessment (RCSA) testing, Critical Process Assessment (CPA), risk events etc.), follow up on updates on actions and escalating issues as necessary.
- Support the business in the identification, design and implementation of Key Indicators (KIs) and other metrics to assist in the monitoring of controls and risks
- Ensure prompt and accurate escalation and reporting of risk events by the Business and provide post-incident support to analyse root causes and ensure learning points are identified and addressed.
- Analyse data to identify risk trends, control weaknesses, and recommend control improvement plans to the business with a view to improving business processes and reducing operational losses.
- Analyse, summarise, and present data in a meaningful way to stakeholders, ensuring key issues and messages are communicated concisely and effectively
- Facilitate risk assessments with the Business for significant change projects and new products with a view to identifying material risks and ensuring that adequate controls are in place.
- Ensure that Day 1 and 2 actions are appropriately monitored and carried out.
- Provide review and challenge to the Business Owners in respect of control weaknesses and risk exposures.
- Facilitate the identification and evaluation of Key Risk Scenarios
- Implement an agreed programme of regular monitoring and evaluation to ensure adequate standards of risk governance and policy compliance.
- Ensure customisation, approval and embedment of all operational risk policies and standards, including operational risk policies, issue management standard, risk events standards and Combined Assurance Standard.
- Produce timely and accurate monthly (and ad hoc) reports to Absa Group and Africa Regional Operations (ARO) Operational Risk and Business Management
- Consolidation of operational risk MI received from business functions (e.g. operational stability metrics, KIs) to produce detailed and summary reports as required.
- Support the business in driving new products innovation as per the product risk policy and product risk standard and New and Amended Product Assessment Policy/standards (NAPA).
- Drive Risk Data Aggregation and Risk Reporting responsibilities pertaining to all Risk types. Attend Data
- Working Group and conducting RDARR reviews and self-assessment to ensure full compliance with RDARR principles. Be the focal point of contact for all RDARR activities and a key engagement person for Centre Data
- Council meetings and RDARR champions, stewards and owners. You will be responsible for driving change on RDARR for the country and ensure Absa Bank Tanzania complies with all RDARR principles.
- Drive embedment of policy of policies by ensuring the policy of policies and associated frameworks and standards are fully embedded in country.
- Ensure clear liaison with all stakeholders in driving this and ensuring that a register of all policies is maintained and updated regularly and gap analysis is undertaken to establish gaps.
- Ensure timely preparation of Reports and decks e.g. Monthly Risk Reports (MRR Reports), Executive Risk Committee Report (ERC), Risk and Control Report (RCF), Combined Assurance Committee Reports, etc.
- Conduct gap assessment of all operational risk policies and standards to identify gaps and prepare remediation plan.
- Conduct operational risk business reviews to identify control gaps in business processes
- Carry out any other activities as assigned by the CRO
Business Relationship Management /Advice & Guidance 40%
- Develop & maintain an effective relationship at the appropriate level with the Business with a view to embedding effective risk management processes.
- Ensure regular dialogue with senior management to review the current risk profile for their business area
- Provide guidance and support to the Business in raising awareness and understanding of operational risk and governance. This may involve making presentations/training sessions to staff, as well as coaching and informal training as required.
- Provide guidance and support to the Business in advance of internal (and occasional external) audits
- Provide input/advice to the design of new controls, policies and procedures
Risk and Control Objective
- Ensure that all activities and duties are carried out in full compliance with regulatory requirements, Treasury
- Risk and Operational Risk Frameworks and internal Policies and Standards.
- Manage risk and control effectively by applying applicable risk frameworks and embedding a positive risk culture
- Understanding of own role in the end-to-end processes in which you play a part, including applicable risks and controls.
- Adhere to ABT’s policies and procedures applicable to own role, demonstrating sound judgment and responsible risk management.
- Report all risk events / incidents / issues using the defined process for your business area and help to understand why these happened and how to prevent them in future.
- Proactively look for ways to improve the control environment by considering what could go wrong in the processes you operate and how errors could be prevented.
- Continuous and proactive engagement with regulatory bodies, unions where applicable
- All mandatory training completed to deadline. All mandatory training completed to deadline.
Education and Experience Required
- Educated to degree level or equivalent (benchmark is Bachelor’s Degree) with a major in Audit/Risk
- Management/Rigor/ Accounting / Financial Services or any other relevant discipline.
- Formal qualification such as, CPA, CIA, CISA, is an added advantage.
- Risk management and control techniques (e.g. Risk assessment, auditing, control design)
- Communication and influencing skills, involving staff at all levels of seniority
- Facilitation skills
- Analytical and problem solving skills
- Service excellence
- Good time management and organizational skills
- Team player
Knowledge, Expertise and Experience:
- Knowledge of the core retail and commercial banking product set
- A practical knowledge and understanding of risks, controls, risk management tools and methodologies
- A good understanding of the main operational processes within the Businesses and a good understanding of the procedures and control framework relating to those areas
- Ability to analyze MI and provide reports capable of identifying key areas of concern.
- Ability to operate across a spectrum of Businesses applying risk skills and expertise to different Business processes.
- Experience of working in a multinational, multi-segment, environment with matrix reporting. Awareness of cultural differences and varying legal/regulatory environments.
- Previous risk management experience gained within an auditing, operational risk management or compliance/controls type role
- Knowledge of relevant regulatory frameworks and legislation e.g. Basel II&III, Sarbanes Oxley, COSO
Our Values provides a framework for how we in Absa work together and how we serve our customers and the communities we are in:
- We drive high performance to achieve sustainable results.
- We are obsessed with the customer.
- Our people are our strength.
- We have an African heartbeat.
Higher Diplomas: Business, Commerce and Management Studies (Required).