Senior Risk Manager

2 weeks ago

Johannesburg, Gauteng, South Africa Nedbank Full time

Job Classification



REQ:

Refilwe Falatsi:



Closing Date: 6 January 2023:


  • Division: Nedbank Insurance /

Functional Unit:

Governance:



Employment Equity Statement:
Preference will be given to individuals from underrepresented groups.

  • Job Family
  • Risk, Audit and Compliance


 Career Stream
  • Enterprise Wide Risk Management


 Leadership Pipeline
  • Manage Self: Professional
  • FAIS Affected
    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.

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 longterm 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 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 ma

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