Financial Risk Manager: Enterprise Risk Management

Absa Group; Sandton; On-site; ZAR 600,000 - 900,000; Full time

Job summary

Join the Absa Group's Risk: Enterprise Risk team as a key contributor to risk oversight and management. This role requires a strong background in quantitative risk management to influence key business decisions and ensure effective reporting standards across the Group. With a focus on risk appetite and stakeholder engagement, you will be integral in shaping Absa's risk profile within the dynamic banking landscape.

Qualifications

• Minimum of 5-10 years’ experience in quantitative risk management.
• Experience with regulatory and economic capital measurement techniques.
• High level of numeracy and innovative thinking.

Responsibilities

• Identify and manage risks by monitoring economic changes and market movements.
• Provide management information and reports to assist in decision-making processes.
• Support the management of the risk appetite framework and related governance.

Skills

Quantitative analysis

Risk assessment

Stakeholder management

Data analysis

Financial reporting

Education

BSc/MSc Degree Mathematics

Statistics

Actuarial Science

Tools

Excel modeling

Job description

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

The job offers an opportunity to be an integral part of the Absa Group Risk: Enterprise Risk team in providing risk oversight, management and influencing key business decisions through risk appetite, MI and analytics. The jobholder will support the management of all risks identified, measured, reported and challenged to agreed standards across the Group.

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

The job offers an opportunity to be an integral part of the Absa Group Risk: Enterprise Risk team in providing risk oversight, management and influencing key business decisions through risk appetite, MI and analytics. The jobholder will support the management of all risks identified, measured, reported and challenged to agreed standards across the Group.

Job Description

Accountability: Risk analysis and Reporting

• Identify and manage possible risks by staying abreast of economic changes, market movements and exposures.
• Assessment and management of risk monitoring against risk appetite limits, and ensure all controls are effective.
• Provide meaningful commentary to support risk analysis and provide relevant input to all governance forums where required.
• Develop and provide management information (MI) and reports as required by stakeholders as determined and agreed from time to time.
  • Monthly risk reports to business and management
  • Facilitate the compilation of reports by providing data and MI in a format that allows it to be utilized effectively to assist management in understanding the risk profile and assist in the decision-making processes.
  • Produce reports for the various forums, committees (e.g. ERC, GRCMC) and others (e.g. Exco) as required.
  • Ensure alignment across risk types in terms of risk reporting
• Responsible for high quality and standard of risk reports with all information/data to be presented as efficiently and effectively as possible. Results need to be accurately disclosed, and restatements properly sign posted.
• Responsible for improving efficiencies in the production of reports where relevant and continuously improve reports and implement best practices as relevant.
• Perform analysis of data to identify and report any trends that will assist in further improving the management of enterprise risk
• Perform benchmarking activities e.g. peer comparisons.
• Review and monitor the Bank’s financial statements, actual performance, and budgets.
• Continuously review and evaluate the bank’s portfolio and identify balance sheet optimization benefits that could strategically improve the banks management of financial resources.

Accountability: Risk Appetite and Risk Profile

• Support the management of the risk appetite framework by ensuring that adequate governance is in place for the process.
• Assist in generating the risk appetite parameters and monitor the Bank’s budget and actual performance against it and report thereon.
• Co-ordinate and review annually the risk appetite setting for the preparation of the Group's risk appetite setting process. Continuously review the risk appetite performance related to risk to ensure no breaches have occurred.
• Support the provision of accurate, transparent and timely reporting to the Group Exco and the Board that compares the risk appetite set for the group and the businesses (by country, line of business, risk type and in aggregate where appropriate), against the actual risk profile of the firm under normal and stressed scenarios.
• Analyze the group’s risk profile to identify themes, potential concentrations and correlations between individual countries, lines of business and risk types.
• Analyze the potential impact of the macro-environment on the group’s risk profile (e.g. economic, political, social, competitor, technological and regulatory)
• Ensure group-level limits, thresholds, buffers and management action triggers are monitored and that breaches highlighted for response
• Consider the impact of non-financial risks (e.g. compliance, audit and operational risk).
• Continuously look to improve the standards for reporting the group’s risk profile and risk data aggregation.
• Ensure effective controls are in place over the processes for reporting the group’s risk profile.

Accountability: Stakeholder management

• Support the delivery and communication of strategic objectives for enterprise risk reporting to senior stakeholders. This includes building and maintaining collaborative relationships with Key Risk Owners and other relevant stakeholders across the Group.
• Build effective collaborative working relationships/information flows with senior stakeholders.
• Develop and maintain relationships with Risk teams and Treasury teams across the group.
• Engage with internal customers to manage their expectations and deliverables.
• Agree and manage service offerings and Service Level Agreements with internal customers [agree annually and measure monthly].
• Represent and actively participate in Group meetings related to risk management, change councils, operating model design areas and strategic planning forums.

Accountability: Continuous improvement and growth

• Stay abreast of knowledge and skills relevant to the level and area of work with particular focus on best practices.
• Consider internal and external influencing events, quantify the impact on the business and pro-actively find solutions.

Preferred Education:

• BSc/MSc Degree Mathematics, Statistics, Actuarial Science.

Preferred Experience:

• Minimum of 5-10 years’ experience in a quantitative risk management role, preferably in the banking industry.
• 2-5 years additional experience in business management.
• Experience with regulatory and economic capital measurement techniques.
• Experience across different risk types.
• High level of numeracy and lateral innovative thinker.
• Experience working with excel modelling and ability to interact strategically with internal stakeholders.
• Experience with reporting to senior management.

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

About the company

Absa Group Limited, and originally Amalgamated Banks of South Africa, is a South African-based financial services group, offering personal and business banking, credit cards, corporate and investment banking, wealth and investment management, as well a...

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