Head: Risk, Governance and Control

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

As a member of the Group Risk Executive Committee, this role will be accountable to the Absa Group Chief Risk Officer (GCRO) for the development of the Groups ERMF, principal risks and supporting policies in line with industry best practice and regulatory requirements.

The incumbent will also lead the Line Governance & Control team in the managing of the risk profile, Management Control Approach (MCA) and Control Environment (CE) through evaluating, responding and monitoring of operational risk in line with Operational Risk Framework and related policies and standards. In addition, this role will also lead the Group’s Combined Assurance planning, and reporting.

Job Description

Accountability: Enterprise Risk Management Framework (ERMF)

• Supports the Group Chief Risk Officer in the development, execution and ongoing enhancement of the Risk Strategy and its related governance ensuring alignment and support to the group strategy.
• Develops the Enterprise Risk Management Framework, Principal Risks, supporting policies and its related Risk Taxonomy ensure, it is of a global standard that is fit-for-purpose, dynamic and forward-looking and continuously enhance it and obtain annual approval from the Board.
• Tracks and manages the execution of the Risk strategy through management forums, tools like OKRs, driving cross-functional initiatives and ensuring traction on execution.
• Ensures ERMF group-wide rollout and provide the necessary training interventions.
• Designs and implement appropriate risk measures (metrics) for evaluating the embedment and effective functioning of the ERMF.
• Reviews and enhances the Risk Target Operating Model to support the execution of Risk Strategy, ensuring its alignment with the ERMF.
• Works with PROs to define and execute world-class framework for operating Risk as a Regional multi country Bank.
• Ensures that Principal Risk Officers, Risk type owners and Chief Risk Officers operate within ERMF requirements with regards to:
  
• Their Business Unit/ Risk type Target Operating Models
• Having appropriate governance forums for effective management of risk.
• Establish methodology, undertake ERMF related conformance reviews, and report thereon in an agreed format.
• Performs ongoing international benchmarking and annual revisions to the ERMF based on global and emerging risk themes and present these to ERC and Board on an annual basis.
  
• Develop a Group Framework and Policy Standard that supports the optimal functioning of the ERMF.to ensure consistency of framework and Policy writing across the group
• Fulfil the custodial responsibility of the Group Framework and Policy suite, ensuring that it remains current, is timeously approved by the appropriate governance committees and is published for group-wide adoption.
• Manage the timetable for the review of the Framework and Policy suite to:
  
• Ensure adherence to group policy standard
• Alignment of sub-risks to the Risk Taxonomy, and
• Escalate bridges/ deviations to Exco and Board
  
  

Accountability: Function governance and control

• Ensure appropriate operational risk management and control culture across the risk function.
• Set non financial risk appetite for the area and monitor adherence thereof
• Lead the design or operation of processes and controls that are to be performed by or in conjunction with the Risk Sub Functional Managing Executives or other stakeholders.
• Accountable for continued functional drive to maintain a satisfactory management control approach and control environment that addresses all applicable risk types and processes.
• Ensure that the operational risk framework is understood and embedded across all its facets in the Risk Functions.
• Accountability for the oversight and the engagement with multiple functional areas that include; Governance and Control, Conformance, Operational key risks (Resilience, etc.), Audit, Compliance and with a view on current trends and future projections
• Implement and maintain effective governance structures within the risk function
• Monitors and escalate the remediation of open and overdue audit and management assurance action items within the operating environment for the Risk Function.
  
  

Accountability: Combined Assurance

• Provide clear direction on strategic goals, translating and prioritising them into business and performance measures
• Develop and Maintain the group Combined Assurance framework in alignment with governance, risk and compliance strategies.
• Act as strategic advisor to the group executives of the control functions (Risk, Internal Audit and Compliance) providing assurance, insights and reports on the effectiveness on controls in the organisaiton
• Facilitate the coordination of assurance across the three lines of deference to optimize assurance coverage and avoid duplication.
• Establish and oversee the Group Combined Assurance plan aligned with the groups Strategic priorities and risk profile and ensure assurance activities are planned and executed in a risk-based and integrated manner.
• Regularly report on the adequacy of internal controls to the group;s executive management and the Group Audit and Compliance committee working closely with the RTO: Operational and resilience risk.
• Provide consolidated insights to senior management
• Track implementation of actions resulting from assurance reviews.
• Put into place the required tools to ensure assurance work is executed in a consistent manner by each line of defence.
  
  

Accountability: People Management

• Provide clear direction on strategic goals, translating and prioritising them into business and performance measures
• Role model the Absa values and embed them through the function, enabling colleagues to operate and demonstrate the values at all times
• Review resource plans and ensure that resource allocation is in line with projected business plans and priorities
• With the HC partner, build an environment to support talent management, development and mobility
• Ensure people plans that align to the respective business and succession plans are in place
• Drive and lead the diversity and inclusion (D&I) agenda across the team. Ensure all relevant D&I activity is conducted within the function and contribute to the Absa D&I strategy
• Leverage the Absa wide learning agenda to develop and grow the capabilities within the team
  
  

Accountability: Stakeholder Management

• Build and maintain effective relationships with Operational Risk Heads and the Business Unit/Function CRO’s
• Actively participate in external forums as a means to establish and maintain networks in the financial services industry. Keep abreast of Industry and Regulatory developments
• Ensure effective interaction with the Absa Group CRO, CIA and Chief Compliance Officer together with their exco’
• Interface with all the Prudential Authority (South African Reserve Bank), and/or non-executive governance structures on risk matters.
  
  

Role/person specification

Preferred Education

• BCom Hons, CA (SA), MBA, Masters or a related NQF Level 6 equivalent qualification
  
  

Preferred Experience

• Ten (10+) years’ experience in the Banking sector which must include proven experience. Ideally with international/regional exposure
• Ten (10) years ‘experience managing a large Control or Operations environment
• Five (5) years’ experience on a senior management level in a large corporate
• Experience at engagement at a Board level (Preferable)
  
  

Knowledge and Skills

• Strategic thinking: Ability to think and act in a strategic manner
• Communication and Influence: ability to communicate effectively across a range of senior stakeholders
• Strong networking skills. Awareness of cultural differences and varying legal/regulatory environments. Proven demonstration of communication skills at all levels within a large organisation. Stakeholder management on a senior and executive management level
• Innovation and change: ability to identify opportunities to improve service and deliver on these
• Proven leadership: ability to direct a large number of staff to achieve the Function objectives and goals.
• People management: ability to form and develop high performing teams with robust bench-strength. People development/management skills/orientation and team leadership
• Problem solving and decision-making: ability to quickly understand a situation and take decisive action that is bought into by stakeholders. Courageous to make tough calls
• Quality and Excellence: Commitment to quality, high standards and robust risk/control management. Proven ability to deliver service excellence, managing often conflicting priorities
• Strong knowledge of Corporate and Investment banking and broad technical products skills and general commercial/industry awareness
• Good knowledge of risk, controls and governance processes, tools and practices
• Domestic and international travel required
• Experience of working in a multinational, multi-segment environment with matrix reporting structures
  
  

Education

Postgraduate Degrees and Professional Qualifications: Business, Commerce and Management Studies (Required)

Absa Bank Limited is an equal opportunity, affirmative action employer. In compliance with the Employment Equity Act 55 of 1998, preference will be given to suitable candidates from designated groups whose appointments will contribute towards achievement of equitable demographic representation of our workforce profile and add to the diversity of the Bank.

Absa Bank Limited reserves the right not to make an appointment to the post as advertised