Operations Risk Manager

6 months ago


Durban, South Africa Watershed Consulting Full time

**Job Description**:
**Job title**:
Operational Risk Manager

**Location**:
Durban, South Africa

**Terms**:
Full time / Permanent

**About the company**:
The institution prides itself on offering a wide range of personalized banking services, tailored to meet the diverse needs of its clientele, encapsulating the very essence of customer-centric banking. It focuses on corporate customers offering them range of products in corporate lending, international trade and also Islamic product offerings.

**About the role**:
The Operational Risk Manager will report to the Head of Enterprise Risk. This role involves overseeing the operational risk management framework and extending to other critical risk classes including Business Continuity, Third-Party, Data, Model, Fraud, and Technology (cyber or information security) risks. The individual will be instrumental in ensuring that these risk areas are managed in compliance with South African Reserve Bank (SARB) regulatory requirements and international best practices.

**Responsibilities**:
Develop and implement an operational risk management framework that aligns with SARB regulations and international standards.

Work with the Business on its implementation specifically of the various operational risk processes:

- Maintain an inventory of operational risk events including incidences
- Development of Key Risk Indicators
- Facilitating the implementation of the Risk and Control Assessment program across the organisation
- Ensuring that for all new initiative / material changes an adhoc change risk assessment is carried out prior to implementation or go-live
- Oversee the identification, assessment, monitoring, and mitigation of operational risks across all bank operations.

Manage the Business Continuity Planning (BCP) process to ensure the bank’s readiness to operate during and after disruptive events. This is to be extended to the new regulation reference operational resilience.

Conduct due diligence and ongoing monitoring of third-party vendors to manage risks associated with outsourcing and third-party engagements.

Implement robust data governance and model risk management practices to ensure the accuracy, completeness, and reliability of bank data and modelling processes.

Lead the fraud risk management program, including the development of strategies to prevent, detect, and respond to fraudulent activities.

Oversee the technology risk management framework, focusing on cyber and information security to protect the bank’s digital assets and information.

Collaborate with IT, cybersecurity, and business units to enhance the bank's resilience against technology-related threats.

Prepare and present risk reports to the Head of Enterprise Risk, senior management, and relevant committees, providing insights into risk exposures, trends, and mitigation efforts.

Conduct training and awareness sessions to promote a risk-aware culture within the bank.

Bachelor’s degree in Finance, Risk Management, Information Technology, or related field. A Master’s degree or professional certifications (e.g., CISA, CRISC, FRM) is highly desirable.

Minimum of 5 years’ experience in operational risk management within the banking or financial services industry, with a comprehensive understanding of the risk classes specified.

Proven track record of managing Business Continuity, Third-Party, Data, Model, Fraud, and Technology risks.

Deep knowledge of SARB regulations, Basel III, and other relevant international risk management standards.

Strong analytical, organizational, and leadership skills, with the ability to manage multiple priorities in a fast-paced environment.

Excellent communication and interpersonal skills, capable of working effectively with all levels of the organization and external stakeholders.

**Skills**:
Information Technology, Risk Assessment, Leadership Skill, Information Security, Insight, Interpersonal Skill, Compliance, Banking, Leadership, Excel, Resilience, Cybersecurity, Trends, Strong Analytical, Interpersonal Skills



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