Senior Operational Risk Advisor at Absa Bank Limited

Job Summary

To plan, manage and monitor the implementation of risk activities and processes in order to deliver on approved operational plans in an effective and efficient manner.

Job Purpose:

• In support of the Head of Operational Risk, help deliver the Operational Risk strategy of excellence, responsible to deliver expert Operational Risk consultancy services to all business areas operating within the country.
• Assist the Head of Operational Risk to embed an operational risk management culture in all business areas operating within the country.
• Delivering operational risk management tools, advice and reporting in line with the laid down policies and procedures.
• Participate in initiatives to manage risk and improve the country risk profile.
• Required to submit regular reports to the Head of Operational Risk in line with the laid down reporting framework.
• Contribute to in-country Operational Risk Budgeting and cost management.

Key Accountabilities

Testing and Technical Business support, advice and guidance - 60%

• In support of the Head of Operational Risk, provide operational risk advisory services within the country with the main objective to educate business line-management in the use of the various Operational Risk Management and Assessment tools available to the business.
• Embed operational risk management ownership in all business units through providing expert advice, sharing best-practice and risk mitigation techniques with business management to enable them to pro-actively manage the operational risks within the business area.
• Assist the Head of Operational Risk to manage and coordinate all operational risk related activities in the country and provide expert support to business line-management as necessary and provide regular feedback to Heads of business units and the Head-Office.
• Provide guidance, education and training to business line-managers in event reporting.
• Ensure that the various Group policies governing Operational & Resilience Risk Management Framework (ORRMF) and other policies are properly disseminated and embedded in the business units in a timely manner.
• Regularly attend local Executive meetings and represent the Head of Operational Risk as delegated. Address any issues that require input from a non-financial risk management perspective, or new strategic initiatives that require risk management principles applied to them.
• Advise and assist the business to minimize Operational Losses through pro-active:
  • Fraud Management
  • Information Security Management
  • Operational Loss Control
• Contribute to the delivery of operational risk management services in a positive manner through value adding advice to reduce costs or by improved controls or by improving profitability where possible.
• Ensure that there is awareness and capability for all operational events to be reported using the Operational Risk Management System (ORMS).
• Ensure that using the ORMS tool, events are categorized and analyzed into the risk universe profile, trend analysis performed, and proactive action taken.
• Analyze trends and overall risk profile information supplied from the Centre and support the business to devise suitable risk mitigation action plans.
• Assess new procedures and procedural changes to identify operational risks and proactively mitigate them.
• High level insight into contracts, project plans, definition documents, strategic initiatives, executive minutes, or any other documentation that would require operational risk management involvement therein and provide feedback to the relevant teams.

Internal Client Liaison and Relationship Management / Stakeholder Management - 10%             

• Create and maintain fit for purpose multi-layer relationship network with all relevant functions and participate actively in all Basle 2 and Operational Risk initiatives within the country.
• Assist the Head of Operational Risk to respond to Regulatory Consultations on Operational & Resilience Risk.
• Ensure that business functions deal with events, audit findings and new risks in a measured and controlled manner, track actions and challenge assertions as to completion, adequacy and effectiveness.
• Work as part of a larger team of Non-Financial Risk professionals on larger or broader projects as required.
• Ensure that ongoing adherence to ORRMF policies is monitored, tracked and reported on.
• Contribute to the ongoing improvement of existing policies as required.
• Assist in the preparation of monthly reports on the state of operational risk for the monthly Risk Control Forum, CMC and Centre Operational & Resilience Risk function.
• Assist in the preparation of quarterly reports on the state of operational risk for the Executive Risk Committee (ERC), Board Risk & Audit Committee and Board.
• Monitor and review the documentation emanating from ORMS and other reporting in each business unit, ensuring a consistency of high standards in terms of delivery within timeframes and information content.
• Communicate with the Head of Operational Risk and discuss strategy, contribute to discussions relating to the ORRM framework, tools and processes, help build the collective strength of the Operational Risk team and improve the profile of the team in the business.

Operational Risk Framework, Policies and Standards implementation and oversight - 20%

• Ensure that Group/ Africa Regional Operational (ARO) Risk policies and procedures are cascaded appropriately to all levels of the business, and that appropriate actions are taken by the business to comply.
• Communicate and maintain a raised level of operational and resilience risk awareness in all staff in the business through direct contacts, operational and resilience risk awareness circulars, training and engagement of all stakeholders within the country as assigned by the Head of Operational Risk.
• Provide expert advice, share best-practice and risk mitigation techniques with business management to enable them to pro-actively manage the operational and resilience risks within the business area.
• Communicate with the Head of Operational Risk and discuss strategy, contribute to discussions relating to the Operational & Resilience Risk framework, tools and processes, help build the collective strength of the Operational Risk team and improve the profile of the team in the business.
• Review compliance to Group and ARO non-financial risk policies and report discrepancies to Head of Operational Risk accordingly.

Operational Risk Reporting - 10%

• Prepare reporting to risk forums and committees (Country RCF agenda and escalation to local and Centre ERC)
• Prepare all the reports required by the business or ARO.
• Provide support to Head of OR while preparing and coordinating RCF/ERC/SAC committees process on a frequently basis.
• Ensure adequate coverage

Qualification

• A degree preferably business related
• Certification in risk management

Experience

• Operational & Resilience Risk Management
• Control & Governance
• Fraud Prevention
• Performance Management
• Time management and personal organization
• Operational & Resilience Risk Management
• Project Management
• Auditing
• Compliance

Knowledge & Skills

• Problem solving skills
• Communication and influencing skills
• Stakeholders’ management
• Teamwork
• Analytical
• Good understanding of Absa Operational & Resilience Risk policies
• Detailed understanding of the ARO Operational Risk Strategy, operating structure and interface with other functions
• Knowledge of bank products, processes and systems that support them
• Good understanding of legislation relating to the banking industry
• Knowledge of constructing reports, executive summaries, and briefs
• Data Analytics and Storytelling