Chief Risk Officer, Absa Regional Operations
1 month ago
Empowering Africa’s tomorrow, together one story at a time.
- 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 is accountable to the Group Chief Risk Officer and supports the ARO Chief Executive in delivery and execution of strategy and risk appetite.
The CRO ARO is responsible for the consolidated ARO Risk profile across CIB, RBB and Treasury, and covers all risks and activity on the balance sheet of ARO subsidiaries. This includes Credit Risk, Traded and Non-Traded Market Risk, Operational Risk, Country & Sovereign Risks as well as franchise and strategic risks.
For CIB and Country & Sovereign Risks, the incumbent will work in close conjunction with the CIB CRO and Group Credit Risk and is solely accountable for the RBB franchise.
The CRO ARO is responsible to ensure that the risk profile and performance is effectively managed and reported, in an integrated manner across the businesses outside of South Africa, working in close co-ordination with the Country CRO’s and Chief Credit Officer’s (CCO).
The CRO ARO is responsible for:
Developing the Risk strategy and business objectives at a country level in alignment with Country priority objectives and Group requirements.
Advising management and the Board on issues relating to significant risk exposures and risk mitigation options to allow for appropriate decision-making.
Advising Senior Management and the Board on the control and measurement of risks, develop and implement of best practices in the management and mitigation of risk to be within risk appetite set.
Making recommendations to the Senior Management and the Boards on the type and level of exposures and risk outcomes in each activity segment permitted by policy and will advise and recommend to Senior Management and the Boards on matters relating to risk management and the overall health of the Risk franchise at a country level.
Managing risk in alignment with relevant policies and standards, ensuring compliance with applicable regulations and ensuring stringent utilisation of financial resources and capital.
Supporting management and Boards with external engagement with regulators and other external stakeholders, and
Participating in the respective Executive Committees including contributions towards functional and business strategy, operating model, business approach and people planning.
Job Description
Accountability: Risk Management
- Effectively challenges the Business Units on their strategy and risk shape/profile in the context of the macro-economic and regulatory environment and incorporating risk adjusted returns
- Determines the overall Risk Appetite and risk strategy and propose the same for approval to the respective committees
- Allocates and monitors the enterprise-wide risk profile in liaison with Business CEO’s and/or Country CEO’s, aligned with their approved strategy and ensure it is consistent with the overall approved Group Risk Appetite
- Manages and monitors the enterprise-wide risk profile and ensure it is appropriate, well understood and controlled by all stakeholders
- Outlines and implements an effective governance framework for all risks in line with regulatory requirements
- Fulfils all duties and responsibilities as defined in the King Report on Corporate Governance
- Ensures that risk management activities are robust, thorough and complete and that risk capabilities in each business are developed and commensurate with risks inherent and strategy/plans
- Establishes appropriate systems and controls including assurance to identify, assess, measure, report, control and manage key risks. Ensure timely escalation of risk issues to enable effective mitigation
- Develops and maintains applicable standards and oversee risk and control in Critical Processes and Management Control Approach (MCA)
- Reports to Group Executive Management, ARO Business Area Executive Committees (Business Area ExCo) and relevant committees, regulators and other stakeholders on the business area’s risk positions, adherence to Risk Appetite and control environment.
- Establishes regional level oversight of the adoption and adherence to frameworks and policies for all risks
- Implements Risk Measurement models for RBB and methodologies ensuring practices are in line with regulatory and accounting principles and standards
- Chairs the ARO ERC that deals with franchise wide risk matters with escalation / socialisation with the RBB ERC, CIB ERC, AGL ERC and other Group Committees as required
- Fulfils a governance role in serving as a member of country and group executive and management committees
- Performs regular or periodic stress test on risk portfolios and review and approve appropriateness of the stresses applied at the business le
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1 month ago
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