Manager, Operational Risk at Standard Bank Group

Job Details

Risk Management: Understanding all risks – from the economic to the political – that could affect our global business, and offering guidance to all parts of the bank

Job Purpose

To support the Senior Manager, Integrated Operational Risk in the effective and proactive management of Operational and non-financial risks within the Bank aligned to the business strategy, operating model and Group Risk policies. The role calls for partnership with head office and in-country business and risk stakeholders to ensure that the processes for identifying, measuring, controlling and reporting of operational risk is aligned to the integrated operational risk framework.

Key Responsibilities/Accountabilities

• Risk identification and assessment
  • Provide a holistic view of the risks through comprehensive reporting to the Bank’s operational risks introduced by personnel, processes, technology and external events.
  • Facilitate Risk & Control Self Assessments (RCSA) risk identification and risk assessment discussions, ensure that salient aspects and decisions are captured, and action items are followed up and closed out
  • Perform evaluation of indicator and incident/loss data for trends that might change the risk profile of the Bank;
  • Highlight items where the residual risk is too high, prepare and forward recommendations to operational risk managers for consideration;
  • Proactive identification of key themes / initiatives / products and their potential risks across business unit and advising on improved management and mitigation of risks.
  • Conduct risk assessments throughout the life-cycle of the project/program/initiative to ensure identified risks are appropriately mitigated prior to the project/program/initiative going live to prevent risk incidents.
  • Support management of business continuity risks/threats to the business in line with Central Bank of Kenya Prudential guidelines, Standard Bank Group requirements and requirements of the Business Continuity Standard - ISO 22301.
  • Works with Business Continuity stakeholders/ representatives in business to conduct, document and sign off Business Impact Analysis in-line with business resilience standards.
• Risk measurement and treatment
  • To oversight the proactive management of operational risks/threats to any allocated business units of the Bank in line with the requirements of the Operational risk framework objectives.
  • Manage the development, provisioning and successful execution of a proportionate operational risk treatment program (e.g. mitigate, accept, transfer and avoid).
  • Manage risks to Bank’s assets and assist businesses by specifying adequacy of control(s) required and validating the effectiveness of controls implemented in conjunction with business risk appetite
  • Manage and track operational risk control efforts and escalation to Head, Integrated Operational Risk where inadequate mitigation is evident.
  • Risk awareness and embedment of risk culture
  • Develop and maintain strong business and centre of excellence relationships, becoming a trusted partner, as well as building relationships with corporate functions.
  • Support the ongoing knowledge management and formalization of the risks and threats the Bank faces and how the Bank chooses to manage them through risk management reporting guidance.
  • Initiate, facilitate, and promote activities to create operational risk awareness within the organization, including awareness of operational risk related regulatory issues that have a potential impact to the environment in alignment with group wide awareness activities.
  • Establish cooperative dialogue between Business, Embedded Operational Risk, Group Financial Crime Control, Group Operational Risk Office and IT Security by visible and consistent action in monthly meetings.
  • Promote compliance to operational risk governance standards and policies.
  • Manage, and develop business personnel knowledge to ensure better operational protection and management across with the assistance of operational risk practitioners through awareness, training and workshops.
  • Provide assurance on the management of relationship with vendors and suppliers to ensure full operational risk value of the contracts entered is realized to the Bank.
• Risk reporting
  • Create risk metrics and report for tabling at risk governance committees at required frequencies including but not limited to Risk & Conduct Committee and Board Risk Committee, the right management structures and drive remediation of said risks.
  • Effectively communicate with stakeholders to ensure support and commitment for the operational risk program and to prioritize control initiatives and spending based on appropriate risk management.
  • Coordinate incident response planning and investigation of operational breaches and assist with disciplinary and legal matters associated with such breaches if necessary.
  • Act as liaison between Business and various Governance, Control & Risk offices within the bank to create and maintain reporting, problem resolution, and other tasks necessary to continuous improvement and evolution of services.
  • Stakeholder management and other engagements
  • Build and maintain credible relationships with stakeholders, including management, internal and external audit, as well as peers.
  • Develop and share regularly risk reports that capture key risk matters across assigned business units and supporting functions including escalation of long outstanding issues for senior management attention.
  • Participate in industry education and networking events, maintains relationships with external community and encourage continuous benchmarking of Stanbic Bank’s operational risk against managing technologies and practices.

Preferred Qualification and Experience

• A minimum of 5 years’ experience in Risk management practice or consulting for financial services industry.
• Degree/Postgraduate degree in Commerce or Risk Management.
• Good report writing, presentation and communication skills.

Knowledge/Technical Skills/Expertise

• Sound and thorough knowledge of development and embedment of risk management policies and procedures.
• Knowledge and understanding of the regulatory environment governing financial services in Kenya.
• Working knowledge of transaction processes relevant to products and services offered to customers e.g. within the corporate and investment banking and /or retail banking space;
• A working knowledge of banking operating systems and controls.