Group Operational Risk Tools and Process Lead

2 weeks ago

Johannesburg, Gauteng, South Africa FirstRand Full time
Job Description


To manage the operational risk of the FirstRand Group by the execution and adoption of the Operational Risk Management Framework which includes risk identification, assessment, management, monitoring and reporting of risks, with particular focus on Risk and Control Assessments, key risk indicator monitoring, control assurance, Change risk management and monitoring, as well as overall risk reporting.


Additionally the purpose of the Group Operational Risk Tools and Process Lead is to enable and enhance the operational risk analysis and automated reporting across all operational risk tools.

This role also has the responsibility to manage and maintain all risk systems within its ambit.

  • Ensure that Architecture, Technology and Tools have clearly defined objectives based on Group requirements and ensure that Architecture, Technology and Tools covers all operational risk categories and ensure that Architecture, Technology and Tools are able to identify areas of weakness that require solutions
  • Develop and maintain the Tools Matrix and Tools Roadmap. Document existing (as is) Matrix of BU's operational risk category, tools and dimensions and identify gaps and evaluate all tool decisions and determine whether they should be built or bought.
  • Setup, maintain and monitor the SLA of all tools/systems and identify and determine whether tools/systems should be owned by the department or the business unit and setup, maintain and monitor the SLA of all tools/systems.
  • Ensure that tools and technology meet performance standards and measure tool/system effectiveness and maintain and monitor tools rules and perform analysis of new/changing measures of operational risk
  • Supervise/assist deployment team members to ensure timeous and quality delivery of process deployment delivery in line with internal policy (including change management).
  • Ensure significant issues are identified, discussed and escalated (where required) early in the process and tracked for resolution via the required forum
  • Offer technical and professional guidance to stakeholders
  • Lead the identification, embedment and execution of a comprehensive control framework for the functional area
  • Create, encourage and influence a culture of appropriate control execution and escalation, thus reducing model risk where possible
  • Evaluate Risk Management tool selection and efficiency decisions and determine whether they should be built or bought
  • Setup, maintain and monitor the service level agreements (SLA's) for all risk management tools and systems and support with the insights analysis to enable fulfilment of SLA's
  • Develop technology, tools and infrastructure cost management targets and ensure that technology, tools and infrastructure are cost effective in order to achieve cost management targets
  • Develop and implement comprehensive change risk management frameworks to identify, assess, and mitigate risks associated with organizational changes.
  • Collaborate with crossfunctional teams to assess the impact of proposed changes on business processes, systems, and stakeholders.
  • Conduct risk assessments and provide recommendations to senior management regarding potential risks and mitigation strategies.
  • Establish and maintain effective communication channels to ensure timely identification and escalation of changerelated risks.
  • Monitor industry trends and best practices in change risk management to continuously enhance organizational capabilities.
  • Prepare and present regular reports on change risk management activities to senior leadership.
  • Manage key stakeholders by ensuring their issues, objectives and priorities are reflected in the agreed solutions, both individually and through delegation and management of subordinates.
Job Details

Application Closing Date

22/02/24

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