Senior Operational Risk Manager

2 weeks ago

Johannesburg, Gauteng, 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


The incumbent will be a member of the Relationship Banking (RB) Operational and Resilience Risk team and will be required to work closely with both the Group Operational Risk team and First line of defense teams, embedded within the business.

The incumbent will also be responsible to help determine the overarching Operational and Resilience Risk strategy and for providing risk oversight of RB BU areas/portfolios in line with the Operational and Resilience Risk Management Framework (ORRMF).

This involves operational risk management in an area where innovation is top of mind and where traditional operational risk management techniques will be balanced with the need to find creative solutions for the benefit of RB Stakeholders.

In this role to incumbent will be responsible for:

  • Supporting RB business units by providing independent and objective endtoend Operational Risk oversight in line with the Enterprise Risk Management Framework (ERMF) and ORRMF, together with its various supporting policies and standards.
  • Overseeing the aggregation, implementation, monitoring and maintaining of core risk management and assurance processes across business units within RB.
  • Enable management to monitor the effectiveness of the control environment and act towards mitigation of operational risk where required.
  • Supporting an effective risk culture, where there is an open, proactive, and constructive dialogue relating to Operational Risk.

Job Description:

Accountability:
Operational Risk Framework and Policy Oversight & ownership (at BU level)

  • Providing clear direction to the RB business units on the Operational and Resilience Risk role, strategic plan and key focus areas.
  • Provide relevant coaching, guidance and training to the businesses on the implementation and maintenance of the Operational and Resilience Risk framework components (including Risk and Control Self-Assessment, Risk indicators, Events, Strategic Risk Assessments, and Key Risk.
  • Assess the level of compliance of business for the relevant risk frameworks and policies.
  • Keep up to date and remain relevant with the Operational and Resilience Risk framework, policies, standards, procedures and relevant legislation/regulations.
  • Act as the specialist in RB business for all elements of the Operational and Resilience Risk framework, including the ownership of related initiatives and support.

Accountability:
Strategy Development & Formulation

  • Provide input into the 2nd line strategy for managing operational risk across RB
  • Second line monitoring, checking and challenging first line in the setting and execution of the Operational Risk strategy, leveraging off 1st line Governance and Control resources in each business area for execution, where applicable.
  • Provide thought leadership and drive consistency in the second line approach to Operational risk across RB.
  • Monitor Combined assurance strategy and actively participate in the combined assurance forum.
  • Ensure that each business areas has measures in place to monitor and manage all of the ORRMF sub risk type profiles.
  • Drive the development and implementation of standards, where applicable.
  • Establish risk appetite in conjunction with the business, to ensure that business maintains exposure in line with this appetite based on a balanced risk/reward decision.
  • Drive the embedment of the Group ORRMF, promoting the integration of operational risk considerations, into all risk reward decisions and general business management.
  • Actively play a senior role in the Management Committees of the product/service area assigned to, as well as in the Operational risk 2nd line Manco.

Accountability:
Operational and Resilience Risk Management Oversight Planning

  • Assess, challenge and monitor the current and forwardlooking exposure (financial and nonfinancial) to Operational Risk (i.e., considering all framework elements, strategic planning, business expansions/ contractions and other major change programmes, including new product approval).
  • Act in an advisory capacity to support the scoping and definition of related Operational and Resilience Risk deliverables and plans, ensuring that these are aligned to the Group Operational and Resilience Risk calendar.
  • Assist in ensuring Business readiness for assurance reviews and deep dives and play an active role in the discussion of issues to be reported from assurance reviews, ensuring that issues are valid and factually accurate, and actions are well defined and timed appropriately

Accountability:
Operational and Resilience Risk Evaluation

  • Assess the relevance and performance of the Operational and R

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