Head of 1st Line Risk and Control

2 months ago

Johannesburg, South Africa FNZ Full time

Role Description

Summary of Focus
- Manage a team to successfully deliver 1st Line Risk Services for FNZ SA including Risk Event Management, Financial Crime, Risk Identification and Management and Audit engagement / management.
- The maintenance and development of our robust controls framework that limits breaches across FNZ SA.
- Work with FNZ senior management and Board(s) to implement a robust 3 lines of defense model in the region, including fit-for-purpose first line of defense risk management capabilities.
- Challenge and contribute to the development of short, medium, and long-term strategies (including action plans and targets) for the operational risk function
- Drive commercial sustainability within Function, reducing operating costs and leveraging technology to support where possible.
- Protect, maintain and enhance FNZ’s reputation with clients and regulatory bodies across South Africa.
- Provide clear strategic direction to the department with clearly defined deliverables.
- Clear MI (Management Information) delivered on a timely basis, which sets out all key Risks to the business, and supports a ‘no surprises’ culture

Specific Role Responsibilities

Provision of core services to FNZ (SA) including:

- Risk identification and assessment
- Implementation support of regulatory change across region
- Promotion of a compliant culture through education
- Liaise with colleagues within Risk & Compliance to ensure consistent approach of the risk and compliance framework
- Manage senior relationships across the global business, ensuring collaborative engagement and partnering to achieve the best results and protection for clients and the business.

External Liaison
- To attend clients’ senior risk committees
- Manage the relationship with external stakeholders in relation to Risk issues, including clients, custodians, consultants, potential clients, third parties, regulators, and non-executive directors.

Strategy
- Challenge and contribute to the development of short, medium, and long-term strategies (including action plans and targets) for the 1st line risk function
- Oversee the development of a strategic technology solution that meets the objectives of the business, allowing the firm to be nimble to future changes, upgrades, and enhancements.
- Manage change to the team, strategy, and methodology to adjust to changing regulations and expectations, ensuring the team are fully motivated and have clear career paths.
- Take ownership of the internal stakeholders and positively manage the relationships globally to create a positive, collaborative, and engaged relationship.

Process
- Oversee the error management process, including management of major errors, escalation, analysis, and reporting, including trend analysis across the group but delving into regional and functional lenses.
- Oversee the delivery of KRI’s in relation to risk appetite in a manageable articulate manner that is intuitive to the business.
- Support the business in continuous improvement and throughout the change programs across all functions.
- Oversee the delivery of Risk and Control Self assessments, provide analysis and reporting that adds value to senior management and the executive.
- Oversee the production of the AAF document in the most efficient manner possible.
- Financial Crime - Responsibility for ensuring robust control frameworks are implemented and embedded across FNZ (UK) 1st Line to limit the risk of financial crime.

People
- Develop staff through regular 1-1s, skip level meetings, feedback, and coaching
- Support the team of 1st Line Risk & Control Senior Managers to ensure exceptional delivery to both internal and external clients.
- Ensure that the employees in the role’s areas of responsibility are competent to carry out their roles and there is adequate training in place to reach and maintain that competence
- Manage the performance of all direct reports, addressing performance issues in a timely manner to ensure that there is no client or business impact.
- Encourage a culture of openness and ethical decision making within the team.
- Ensure all staff complete mandatory training in a timely fashion.

Governance
- Design and provide relevant and timely reporting to Boards and Committees as required.
- Ensure clarity over roles, reporting lines and accountability within the 1st Line Risk team
- Participate and chair governance meetings to ensure that FNZ is driving the right behaviours, to mitigate risk to the business
- Attend regular client senior forums and drive a positive and collaborative relationship with FNZ clients.
- Responsibility for ensuring robust control frameworks and risk aware culture is embedded across asset servicing.
- Secretary to Management Risk and Compliance Committee

Experience Required
- Your career has been spent within the world of Enterprise Risk Management, and you have a record or delivering gold-standard, market leading Enterprise Risk Management within the Wealth

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