ORM Manager - Global Markets & Treasury - Sandton at Absa Group Limited (Absa)

Job Summary

To develop tactical strategy and delivery plans, formulate associated practice and to ensure operational implementation and adoption across a single practice i.t.o. risk methodology, governance and delivery objectives

• Responsible for the management of Operational Risk for Global Markets and Treasury and in doing so to provide support to Executive and Senior Management. To support an Operational Risk Strategy (for the risk and control framework) for the businesses that must be aligned to Group policies and regulatory requirements across the African continent.
• Develop and coordinate risk management programmes by using risk identification and measurement methods. Make accurate risk mitigating recommendations to implement internal controls and to transfer risk. Collect and analyze risk information to ensure risk compliance. Draft reports including recommendations on proactive management decisions to prevent risk events.
• Reporting line to Head of Operational Risk Management for Global Markets and Treasury.

Job Description

Risk Management:

• Providing Subject Matter Expertise to Risk types

Stakeholder Management:

• Build and Maintain effective Relationships with relevant stakeholders

Risk Reporting:

• Identify, assess and Report key risks arising from significant events, investigations, audit and control issues

People Management:

• Develop a high performing Team

Risk and Control:

• Adherence to Policies, Procedures and Regulations 

Accountability: Risk and Control

• Liaising extensively with business front to back and across infrastructure to build relationships, gain an understanding of the risks, processes and controls (front to back), and develop product specific Op Risk expertise to enable pro-active risk management.
• Provide Op Risk sign off of New Products generated from responsible business lines.
• Investigation, remediation and tracking of Operational Loss Events within the responsible business lines. (Including ensuring that teams adhere to the relevant Loss Event policies and standards)
• Perform quarterly risk and control assessments front to back for allocated business
• Facilitating and/or providing input to Business related committees and forums as well as any other Absa CIB and/or Group committee. To run and support regular internal meetings and producing MI.
• Perform ad hoc projects as requested time to time from Operational Risk and other areas in the bank.
• Input into overall direction and framework of the Operational Risk department as a whole.
• Maintaining and developing awareness of operational risk, control issues, changes and developments.
• Develop and maintain the Franchise Operational Risk Operating Model to support Operational Risk Management and Strategy and oversee the implementation thereof.
• Perform independent review throughout the operational risk assessments using all elements of the framework to identify issues and report to the Franchise Executive and Senior Management, Risk, Governance and Control Committees and Group Operational Risk Committee
• Whenever a new project is identified, provide an overview of risk assessment to effectively mitigate any potential risks.

Accountability: Operational Risk

• Accountable for proposing and for ensuring the delivery of agreed Operational Risk activities through regular engagements and monitoring of individual Business Unit Risk Profiles in support of the overall Africa Business Risk Profile.
• Central point of entry for the business in terms of Operational Risk activities and related policies; including the Franchise approval of deviations, waivers and dispensations.
• This includes the monitoring and oversight of Operational Risk for the Africa Business activities in terms of:
  • Formalized Operational Risk Governance
  • Policy framework and awareness.
  • Operational Risk Loss Events
  • Operational Risk Indicators
  • Risk and Control Assessments
  • Key Risk Scenarios and Economic Capital
  • Boundary Events
  • New Product Approval Process
  • New Ventures and Asset Framework

• Perform independent through the cycle operational risk assessments through identifying issues and report to the Executive and Senior Management, Risk, Governance and Control Committees.
• Oversee the design of processes to support the Business Operational Risk activities.
• Support Franchise and Risk function by ensuring identification and required control of the prevailing Operational Risk profile by advising the Clusters on the best practice to mitigate risks across Africa
• Accountable for proposing and ensuring of the overall delivery of the Management Assurance reviews as agreed per the Management Assurance Plan contracted with Executive Management, and other management directed activities such as ad hoc revies and consultancy as requested.
• Attendance and participation in Risk and Control forums, committees and represent CIB at the Group Operational Risk Committee.

Accountability: Stakeholder Management

• Responsible for stakeholder interactions (e.g. via Risk Committees/Forums, individual meetings, conformance reviews, etc) with Executive and Senior Management to ensure compliance with Basel and Risk Governance requirements.
• Actively engage across all Clusters within CIB i.t.o. Operational Risk (through various forums and individual meetings) to ensure benchmarking and sharing best practices in support of Group's control environment.
• Actively engage across all CIB business lines within the bank i.t.o. Compliance Risk through various forums and individual meetings) to ensure benchmarking and sharing best practices in support of Group's control environment.
• Responsible for stakeholder interactions (e.g. via Risk Committees/Forums, individual meetings, compliance reviews, etc) with Executive and Senior Management including Absa and South African Regulators.
• Participation and attendance of relevant forums/committees (e.g. Operational Risk Committee, Franchise
• Interacting with CIB Exco members, COOs, Franchise Risk Management Functions, Group Risk and other assurance providers

Accountability: Management & Leadership

• Drive accountability for living the values through appropriate demonstrated behaviors
• Demonstrate flexibility in being able to traverse levels of complexity as required, as well as adjust communications to the needs of different audiences
• Be proactive in staying relevant and up-to-date (with changes, legislation, new developments, etc)
• Be able to make tough decisions, follow transparent processes and resolve actions promptly whilst bearing in mind the future sustainability of the firm
• Demonstrate a strong excellence / quality orientation

Accountability: Effective end-to-end operations management

• Continually report back to the Business Head on the performance of the business(giving them a backward and forward looking view), including key issues, trends, metrics, risks and information needed to make decisions
• Ensure timely, relevant, accurate reporting
• Perform all other duties as reasonably assigned

Education

• Bachelor`s Degrees and Advanced Diplomas: Business, Commerce and Management Studies (Required)
• Must be able to demonstrate knowledge of the Global Markets products and infrastructure
• Knowledge and understanding of control testing process will be advantageous.
• Strong skills in stakeholder management and ability to manage relationships with a broad range of stakeholders.

Education

• Bachelor`s Degrees and Advanced Diplomas: Business, Commerce and Management Studies (Required)