Head: Governance, Risk and Compliance

Absa Group; Johannesburg; On-site; ZAR 800,000 - 1,200,000; Full time

Job summary

Absa Group seeks an experienced risk management professional to implement and oversee risk and compliance frameworks within their organization. The successful candidate will leverage their extensive experience in financial services to develop strategies that drive governance and operational risk management while ensuring adherence to regulatory requirements. This position involves leading initiatives to foster a risk-aware culture and enhance customer solutions through effective risk management.

Qualifications

• 10 years of experience in operations or process roles, with a focus on risk.
• Practical knowledge of risk and compliance methods.
• Strong experience with financial services products and regulatory requirements.

Responsibilities

• Develop and maintain an operational risk management strategy and compliance framework.
• Lead operational risk and governance initiatives.
• Implement the Risk and Compliance Framework at Absa Insurance Company.

Skills

Risk Management

Compliance

Financial Services

Governance

Operational Risk

Business Continuity

Education

Bachelor's Degree in Business, Commerce, or Management Studies

Advanced Diploma or Postgraduate Qualification

Job description

Empowering Africa’s tomorrow, together…one story at a time.

With over 100 years of rich history and a strong position as a local bank with regional and international expertise, a career with our family offers the opportunity to be part of an exciting growth journey, to reset our future, and shape our destiny as a proudly African group.

Job Summary

Seeking a candidate with 10 years’ experience in operations or process roles, with a focus on risk. Must have practical knowledge of risk and compliance methods, and strong experience with financial services products and processes. Knowledge of regulatory requirements in an Operational Risk environment is essential. The role involves developing risk and compliance strategies, implementing practices, and ensuring adherence across practices for methodology, governance, and delivery.

Minimum qualification: B-degree (NQF level 6) in Commerce. A Post Graduate Degree (NQF level 7) is preferred.

Responsible for implementing the Risk and Compliance Framework, overseeing risk management practices at Absa Insurance Company (AIC). This includes reviewing the risk profile, aligning with risk appetite, and ensuring robust processes and controls are in place. The role also involves leading operational risk and governance initiatives to ensure innovative, competitive offerings while safeguarding the bank’s assets.

Job Description

Risk Management and Compliance

• Develop and maintain a fit-for-purpose operational risk management strategy and compliance framework tailored to customer needs and revenue goals.
• Oversee governance, control, business continuity, audit, compliance, and occupational health and safety functions, considering current and future trends.
• Set standards, procedures, controls, and limits for operational risk management.
• Manage performance objectives related to risk, governance, and employee management, including cost control and risk mitigation.
• Document and communicate processes, control requirements, and risk frameworks to team members.
• Coordinate with Internal Audit and Business Units during audits, manage corrective actions, and ensure issues are addressed effectively.
• Ensure compliance requirements are understood and met, conducting briefings as needed.
• Maintain and test Business Continuity Plans, ensuring regular updates and execution of corrective actions.
• Develop and update Risk and Control Self Assessments (RCSA) and Critical Process Assessments (CPA).
• Participate in developing Key Risk Scenarios and work to minimize economic capital requirements for operational risk.
• Ensure physical and information security responsibilities are understood and managed by managers.
• Maintain safety protocols, including appointing safety representatives and conducting safety drills.

Business Performance Drive

• Lead the implementation of operational risk frameworks and governance reporting.
• Monitor and manage the operational risk profile of AIC.
• Establish risk appetite aligned with business strategies and promote a risk-aware culture.
• Integrate operational risk considerations into all business decisions.
• Collaborate with stakeholders to enhance customer solutions and ensure effective risk management.
• Oversee risk-related committees, conduct deep dives into material risks, and promote best practices.

Customer Focus

• Transform and deliver optimal customer experience through effective credit frameworks and policies.
• Gain insights into customer needs and align risk measurement frameworks accordingly.
• Ensure the operational risk team has the necessary capabilities to meet regulatory and customer service standards.

People Management

• Partner with Human Capital to implement performance development standards.
• Develop learning strategies, succession plans, and recruitment processes.
• Review workforce plans and approve performance and compensation decisions.
• Address employee engagement issues and improve employee value propositions.

Education

Bachelor’s Degree in Business, Commerce, or Management Studies is required. An advanced diploma or postgraduate qualification is preferred.

Absa Bank Limited is committed to diversity and equal opportunity employment. Preference will be given to candidates from designated groups to promote workforce diversity.

Note: Absa Bank Limited reserves the right not to fill the position as advertised.