Head: Group Retail Credit Risk
Absa Group
Date: 1 day ago
City: Johannesburg, Gauteng
Contract type: Full time
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
Reporting directly to the Group Chief Credit Risk Officer, the Head of Group Retail Credit Risk will be responsible for overseeing the retail credit function across all operating countries within the Absa Group and be accountable for the retail credit quality at an Absa group level. This individual will ensure there is appropriate alignment with the Group's Enterprise Risk Management Framework, credit risk appetite, and regulatory requirements. The individual will provide strategic oversight for effective credit risk management, working closely with policy, governance, and assurance teams to maintain world-class methodologies, standards, and compliance.
Key responsibilities include ownership of the Retail Credit Policy, oversight of standards and procedures, and management of the Retail Early Warning Indicator (EWI) process. The role requires a thorough understanding of Retail Risk Appetite from both a bottom-up and top-down perspective, including allocation to business units and ongoing tracking. Additionally, the incumbent will be responsible for overseeing and influencing retail credit risk strategies and processes across all operating markets via CROs and CEOs, ensuring consistency and alignment at group level. While business unit and country-level second line of defence teams will independently check and challenge methodologies, models, strategies, and proposals from their respective first lines of defence, this group role will focus on providing oversight, confirming best practice and consistency across the group, and bringing an external perspective—taking into account broader industry trends and macroeconomic developments to strengthen the group’s overall retail credit risk practices.
This role encompasses the entire Group, holding accountability and responsibility for all countries. The individual will interface with the Board and regulatory bodies, necessitating experience and gravitas to influence strategic decisions at both the business unit and Group levels. Managing Group Executive Committee stakeholders will also be a significant aspect of this role. The role will be part of the second line of defense requirement as set out in the Group Enterprise Management Framework.
Job Description
Accountability: Retail Credit Risk Appetite and Oversight
The incumbent will attend the following committees to fulfil an independent oversight role:
Preferred 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
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
Reporting directly to the Group Chief Credit Risk Officer, the Head of Group Retail Credit Risk will be responsible for overseeing the retail credit function across all operating countries within the Absa Group and be accountable for the retail credit quality at an Absa group level. This individual will ensure there is appropriate alignment with the Group's Enterprise Risk Management Framework, credit risk appetite, and regulatory requirements. The individual will provide strategic oversight for effective credit risk management, working closely with policy, governance, and assurance teams to maintain world-class methodologies, standards, and compliance.
Key responsibilities include ownership of the Retail Credit Policy, oversight of standards and procedures, and management of the Retail Early Warning Indicator (EWI) process. The role requires a thorough understanding of Retail Risk Appetite from both a bottom-up and top-down perspective, including allocation to business units and ongoing tracking. Additionally, the incumbent will be responsible for overseeing and influencing retail credit risk strategies and processes across all operating markets via CROs and CEOs, ensuring consistency and alignment at group level. While business unit and country-level second line of defence teams will independently check and challenge methodologies, models, strategies, and proposals from their respective first lines of defence, this group role will focus on providing oversight, confirming best practice and consistency across the group, and bringing an external perspective—taking into account broader industry trends and macroeconomic developments to strengthen the group’s overall retail credit risk practices.
This role encompasses the entire Group, holding accountability and responsibility for all countries. The individual will interface with the Board and regulatory bodies, necessitating experience and gravitas to influence strategic decisions at both the business unit and Group levels. Managing Group Executive Committee stakeholders will also be a significant aspect of this role. The role will be part of the second line of defense requirement as set out in the Group Enterprise Management Framework.
Job Description
Accountability: Retail Credit Risk Appetite and Oversight
- Oversee the retail credit risk appetite across the group, collaborating closely with the Group Credit Portfolio Management team to allocate Credit Risk Appetite for retail credit to the various group entities.
- Challenge the proposed bottom-up retail credit risk appetite asks from each BU and country ensuring it is logical and aligned with the overall risk strategy
- Ensure that the retail credit risk appetite proposed by the retail business units aligns with the methodologies developed by the Group Credit Portfolio Management team.
- Oversee the establishment of sound portfolio triggers to ensure the bank operates within its credit risk appetite.
- Group ownership and management of the retail Early Warning Indicator process.
- Participate as an independent member in business unit governance forums, where triggers and early warning indicators are proposed and approved.
- Ensure a robust process is followed in setting these triggers and indicators, verifying that the proposed levels are sensible and supported by appropriate back-testing.
- Provide and external perspective and challenge the retail credit strategies for the group and business units. This will include views regarding retail credit strategies given the macro-economic environment as well as an evaluation and assessment of retail credit impairments given the macro-economic environment.
- Provide early warnings to the Group Chief Credit Officer and Group Chief Risk Officer regarding potential risks and issues.
- Oversee the development, implementation and ongoing refinement of credit origination strategies across the retail portfolios. The incumbent will be a member of the relevant governance committees where proposals for changes to origination criteria, segmentation, risk cut-offs as well as material retail credit risk models are tabled, reviewed and approved. Origination strategies and credit models need to be data-driven, responsive to market dynamics, and compliant with regulatory standards.
- The incumbent will own the Retail Credit Risk Policies from a group perspective. Work closely with the teams responsible for developing and maintaining credit standards and procedures, ensuring alignment with the Enterprise Risk Management Framework.
- Ensure that world-class methodologies and standards are employed across the group, driving consistency and excellence in retail credit management
- Drive continuous improvement of the Retail Credit Risk Management Framework and standards, ensuring they remain effective and relevant.
- Ensure international best practices with regards to retail credit risk analysis are customised and implemented consistently across the Group.
- Ensure that an appropriate Retail Credit Risk training program is in place to achieve the above outcome.
- Continuously review and monitor the quality and consistency of credit analysis across the group and ensure alignment to international best practice.
- Proactively embed agreed change management initiatives in support of related processes & continuous improvements thereof.
- Drive synergies and harmonise credit risk analysis best practices across asset classes in the Group.
- Approve any dispensation or waiver requests arising from deviations from the Enterprise Risk Management Framework (ERMF) and Credit Risk Management Framework (CRMF).
- Collaborate with the assurance team to ensure and test if credit policies and standards are implemented correctly, regulations are complied with, and areas for improvement are identified.
- Ensure that the combined assurance plan for retail credit is appropriate and follows a risk-based approach.
- Oversee the combined retail assurance plan between all stakeholders (business units, internal and external assurance providers) to ensure alignment of assurance activities and optimize the effectiveness of the assurance plan
- Oversee and ensure the implementation of corrective actions where necessary, maintaining effective communication with regulators and stakeholders.
- Ensure appropriate reporting to governance committees, including tracking of portfolio triggers and EWIs, overseeing monthly updates to the regulator of the retail portfolio.
- Contribute to defining the metrics, indicators, dashboards, and reports used to present the group’s credit risk profile.
- Highlight potential strategic and emerging risks for evaluation
- The individual will interface with the Board and regulatory bodies, necessitating experience and gravitas to influence strategic decisions at both the business unit and Group levels.
- Build and maintain effective and strategic relationships and networks.
- Be a thought leader in technical credit analysis and methodologies.
The incumbent will attend the following committees to fulfil an independent oversight role:
- Retail Banking credit and governance committees
- Group Credit Risk Management Committees
- Portfolio Quality Review process to ensure that the process operates effectively and that there is appropriate portfolio reporting at each business unit.
- Absa Group Credit Risk Management Committee (Board Committee)
Preferred Education
- Bachelor’s or Master’s degree in Actuarial Science, Statistics, Mathematics, or related quantitative discipline
- Minimum 10 years retail banking experience, coupled with significant experience in a leadership role.
- Intuitive understanding of credit risk taking
- Decision making
- Comprehensive knowledge of banking legislation, risk regulations and industry standards
- Experience based knowledge of credit risk management principles, policies and practices
- Appropriate leadership, management and people skills
- Conflict management
- Analytical skills
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
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