Operational Risk Manager

6 months ago

Johannesburg, South Africa FirstRand Full time

About us, purpose, experience and qualifications

**about us**:
**purpose**:

- To manage relevant risks within area of accountability by identifying, managing, and mitigating risk in accordance with defined business appetite and aligned to relevant risk frameworks and policies.**experience and qualifications**:

- Minimum qualification: Relevant Diploma
- Preferred qualification: Relevant Degree in Risk Management, Finance or Data Science
- Experience and Skills
- 3 to 5 years experience in a similar environment, of which 1 to 2 years ideally at junior (entry level)
- management level**additional requirements**:
**responsibilities**:

- Control expenditure and identify process improvements to contain and reduce costs
- Build working relationships across teams and functional lines to enhance work delivery, collaboration, and innovation
- Deliver customer experience excellence in own service delivery aligned to organisational values and service standards
- Provide input into the development of the tactical strategy, and develop and implement a supporting operational strategy
- Keep abreast of the bank’s risk appetite and system/ technology or platform updates, as well as emerging operational risks
- Innovate by finding the best fit solution for the situation such as the flexibility of delivery and customised solutions which result in more efficient outcomes
- Ensure all stakeholders have been engaged and information provided by Project Management Office (PMO) is reviewed and challenged to ensure accuracy
- Escalate critical projects status to contribute to delivery against set timelines where required
- Set the strategy and create the enabling environment for active risk reduction by informing and looking at the key risk indicators (KRIs), re-assessing, and ensuring the control environment is perceived relative to risk appetite as well as ensuring changes to reduce, tolerate or mitigate risk are made accordingly
- Develop and maintain monitoring plan to ensure coverage of key controls
- Manage and ensure compliance to the applicable framework in relevant risk control monitoring plan
- Track feedback on results of monitoring activities to enhance relevant risk control environment
- Work with business unit to understand business, drivers, current concerns, and plans to mitigate risk to proactively identify and anticipate risks (including emerging risks)
- Identify, manage, and mitigate interconnected / interdependency risks and provide relevant information to business and risk teams to appropriately manage and mitigate risk
- Understand changes of applicable risk policies and communicate to relevant stakeholders accordingly
- Keep abreast of relevant risk developments externally and ensure it is considered in the risk profile for the business
- Ensure development of appropriate solutions to identify losses and risk exposures and facilitate the effective implementation thereof
- Ensure business continuity management plans are reviewed and tested and aligned to business continuity strategy
- Assist business to identify risks inherent in key business processes, new products, business projects and key outsourced and insourced arrangements and critical third-party service providers
- Ensure business has designed and implemented controls to manage the risks identified
- Build a risk management culture through ensuring awareness campaigns to educate stakeholders to influence behaviour and drive the importance of compliance and good conduct
- Drive and embed risk capabilities in the business
- Drive a combined assurance approach to risk management by engaging specialists and other assurance partners on key risks matters
- Ensure comprehensive risk assessments are conducted in relation to products, services and solutions that are developed by the business are appropriate to manage the risks within the approved risk appetite
- Analyse business information, data, and BU risk reports to identify trends and create qualitative risk status reporting with accurate and reliable business intelligence
- Prepare the relevant risk profile report in a format that is acceptable to senior management and risk governance committees and considers all key risks
- Ensure appropriate governance structures are in place in area of accountability
- Develop and communicate timelines for submission of relevant op risk reports to risk committee structures that align to Group Risk timelines
- Escalate significant risk issues to management or Enterprise Risk Management and risk governance structures as relevant
- Review risk management documentation and risk reports to ensure achievement of relevant risk strategy
- Track and report at the relevant forums and committees monthly on progress towards achieving the relevant risk strategy at defined intervals
- Assist, execute or initiate on Group and/or Broader Africa Operational Risk Team risk initiatives
- Assist subsidiaries in performing periodic assurance control testing and requisite deep dives

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