Head: Governance, Risk and Compliance

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

10 years’ experience in an operations or process type role, with a risk approach. Practical application and interpretation of risk and compliance methods. Strong working experience of financial services products and processes.Experience in dealing with financial services’ regulators Technical knowledge of all regulatory requirements in an Operational Risk environment To develop risk and compliance tactical strategy plans, integrate practice formulation and to ensure operational implementation and adoption across multiple practices for methodology, governance and delivery objectives. Minimum B-degree (NQF level no.6) in Commerce .Desired Post Graduate Degree (NQF level no.7)

Accountable for the implementation of the Risk and Compliance Framework, thus overseeing the maintenance of risk and control practices across Absa Insurance Company (AIC). In addition, review the risk profile of the businesses against risk appetite and performance measures, and agree actions to change the shape of the profile where appropriate. Provide leadership, improve, implement, develop and monitor robust processes and controls and ensure alignment with regulators and Bank Policies. Drive the execution of operational risk and governance in AIC so that offerings are innovative and competitive; whilst maintaining and protecting the quality of the Bank’s asset book.

Job Description

Accountability: Risk Management and Compliance

• Ensure a fit for purpose operational risk management strategy and compliance framework is in place for AIC that is relevant to the needs of customers and revenue generation requirements and target cost to serve
• Centralize the accountability and oversight of multiple functional areas that include Governance and Control, Conformance, Business Continuity, Audit, Compliance and Occupational Health and Safety with a view on current trends and future projections.
• Set and manage operational risk management and governance standards, procedures, controls and limits to be applied in the operational risk and compliance process
• Agree targets and take accountability for the overall achievement of Operational Risk, Governance & Review and Review & Challenge performance objectives in terms of cost management, risk & control management and employee management (employee satisfaction, performance, issues, staffing, return on investments, risk, compliance and governance requirements).
• Ensure that processes, control requirements and risk management frameworks that impact the area are documented and understood by all members of the team
• Interlock with AIC Internal Audit and BU management during the scoping of audits to ensure fair coverage. Own and agree corrective action items with Internal Audit and BU management for findings related to the functional area under management.
• Arrange issue assurance for closed audit findings.
• Provide check and challenge during the Product development process to ensure that all risks have been considered and sufficiently addressed
• Ensure that the team understands all compliance requirements and call for the area's Compliance Officer to conduct briefing sessions if gaps are identified.
• Ensure that the Business Continuity Tool is updated regularly and signed off annually in consultation with the BCM Coordinator.
• Ensure that the BCM Plan for the area is tested as required and corrective actions executed.
• Interlock with managers/professionals in the team, develop Risk and Control Self Assessments (RCSA’s) and Critical Process Assessments (CPA’s) for the function and update at the required intervals (normally quarterly). Complete attestations to testify to the adequacy of controls on request.
• Participate in the development of Key Risk Scenarios including the determination of likelihood of occurrence and potential impact. Actively work to minimise the amount of economic capital that has to be set aside for operational risk.
• Ensure that managers in the team understand their responsibilities for physical and systems access control and information security requirements.
• Ensure that AIC has a Health and Safety Representative, Fire Warden and Evacuation representative.
• Accountability: Business Performance Drive
• To lead the implementation and embedment of operational risk framework and manage risk and compliance related governance reporting activities
• Ensure that AIC has the measures in place to monitor and manage their own operational risk profile.
• Establish risk appetite in conjunction with the business, to ensure that business maintains exposure in line with this appetite based on a balanced risk/reward decision.
• Drive the embedment of the Group Operational Risk Framework, promoting the integration of operational risk consideration into all risk reward decisions and general business management
• Drive a culture of proactive operational risk management, governance and compliance within AIC
• Interlock with key stakeholders in AIC to obtain commercial awareness of the local market and industry specifics leading to improved customer solutions; and ensure the appropriate operational risk management and governance is in place
• Interlock with the AIC management teams to sustain best practice processes and tactics in managing its financial crime responsibilities, and proactive identification of risk and early warning signs of emerging risks
• Aggregate all types of risks (inclusive of risks that are outside area of management control) across the business and make recommendations in terms of a holistic end to end view.
• Development and monitoring of governance for the AIC risk related committees Lead deep dive and lessons learnt exercises for material risks, including escalation of findings
• Drive the development of standards to enable compliance to Group wide policies, including the development and presentation of training of standards
• Accountability: Customer
• Accountable for transforming and delivering the target customer experience in support of AIC’s strategic aspirations through the appropriate credit frameworks, policy and processes
• In partnership with key stakeholders in AIC, develop deep insights into customer needs, expectations and behaviours pertaining to the use of risk measurement frameworks, policies and processes and align offerings that are innovative and competitive
• Ensure that the operational risk function in AIC possess the required capabilities (infrastructure, people, process and culture) to comply with relevant regulations governing selling and to enable the delivery of AIC’s aspirational customer experience.
• Accountability: People Management
• Partner with the Human Capital team to ensure the practical and effective implementation of group standards for formal Performance Development.
• Together with line leaders, develop a learning and development strategy that will address the current and future business needs. Ensure that adequate resources are set aside to execute the identified interventions.
• Ensure the establishment and regular update of succession plans for key and high-risk roles.
• Ensure that divisional transformation objectives are incorporated and met.
• With the support from the Human Capital Partner, identify, interview and recruit direct reports.
• Review capacity models, workforce plans and reallocate resources as required.
• Approve outcomes of consistency check meetings for performance rating allocations, annual salary increases and any discretionary short-term incentives.
• Review the themes captured by any employee opinion surveys and improve the employee value proposition where possible.
  
  

Education

Bachelor`s Degrees and Advanced Diplomas: 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