Head : Credit Impairments and Reporting

2 weeks ago

Sandton, South Africa Absa Bank Limited Full time
Bring your possibility to life Define your career with us

  • 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.
Job Summary

To develop tactical strategy and delivery plans, formulate associated practice/s and to ensure operational implementation and adoption i.t.o. credit risk management methodology, practice, governance and delivery objectives.

Job Description:


To be accountable to the ABSA Group Chief Credit Officer (CCO) for establishing, developing and the maintenance of the process for the management and reporting of enterprise-wide credit impairments.

This includes the bi-annual review of the economic forecasts in collaboration with the Group Economics Unit to inform the IFRS9 macro-economic adjustment for the calculation of Expected Credit Losses.

The function is expected to provide best-in-class, dynamic, risk-profile driven and forward-looking views on credit impairments to enable the CCO, senior management and the Board to develop a clear understanding of the bank's current and forward-looking impairment profile - both trends, and against industry peers - in order to opine on impairment adequacy.


In addition, the incumbent will be accountable for Internal and External Group Credit Risk reporting, including Group Credit obligations with the various rating agencies, ensuring a consistent narrative is presented to stakeholders.


Accountability:
Credit Impairment Adequacy

  • Enable senior management and the Board to monitor and have a clear understanding of the bank's current and forwardlooking credit impairment profile (also considering the output of the group stress testing team) to facilitate a view on impairment adequacy.
  • Regularly benchmark ABSA's Credit impairment profile against its peers. This includes performing a peer analysis on the competitor credit profile to highlight to senior management areas of misalignment together with an assessment of the probable drivers of the differences identified.
  • Reviewing external agency and broker/analyst reports on the bank or industry in order to develop a clear understanding of external parties' expectations and perceptions of vulnerabilities in the bank's credit impairment profile in relation to nonperforming loans (NPLs) and expected credit losses (ECLs).
  • Monitor, analyse and report on the likely impact of upcoming changes in regulatory requirements on the credit impairments and make recommendations to senior management on possible tactical or strategic responses.

Accountability:
Credit Impairment Process

  • Be the single point of contact for all impairmentrelated queries at Group level.
  • Maintain the "one version of the truth" that will be used in all credit reporting throughout the group.
  • Maintain a full understanding of the impairment processes (mechanics, methodologies, and governance) throughout the group.
  • Be responsible for impairments reporting internally (Board and senior management level) and externally (published information).
  • Maintain an understanding of the bank's impairment trends (historic and forwardlooking).
  • Maintain an understanding of the impact of new accounting standards on impairments (e.g. IFRS9).
  • Manage the biannual IFRS9 MEV process
  • Management of the process in relation to the monthly Group Credit Impairments Committee in accordance with its terms of reference and a consistency in the content requirement.

Accountability:
Enterprise-Wide Credit Reporting and Disclosure

  • Monthly impairment reports for Group Credit Impairment Committee. Reports should be insightful and enable management to take informed decisions on information presented, particularly in relation to impairment adequacy.
  • Support the preparation of the credit risk section of the financial booklet/integrated report, including the ICAAP report.
  • Management of the impairment contribution to the Financial Director report for Board consumption
  • Overall responsibility for content / layout, accuracy, comprehensiveness, clarity, usefulness and timeliness of all impairment reporting.
  • Play a critical Risk / Finance integration role in terms of Credit impairment reporting. Understand the handoffs and interaction between Risk and Finance in compiling credit risk information specifically impairment numbers.
  • Quarterly credit portfolio reporting (in close collaboration with Group Credit Portfolio Management) to the Group Credit Risk Management Committee.
  • Support the preparation Pillar 3 Report as it relates to credit risk.
  • Have a good understanding of Finance systems and processes, how Risk and Finance data interact, and to be able to access Finance data as and when required.
  • Continually enhance credit risk reporting to incorporate new accounting requirements (e.g. IFRS9), and any emerging tre

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