OM Bank - Head Credit Risk

Old Mutual Limited; Johannesburg; Hybride; ZAR 2 800 000 - 4 000 000; Plein temps

Résumé du poste

Old Mutual Limited is seeking a Head of Credit Risk for OM Bank. The role reports to the Chief Risk Officer and oversees Line 2 risk for unsecured and secured credit portfolios. The position is hybrid, based in Johannesburg, with flexibility to engage in Cape Town.

The successful candidate will lead risk oversight, policy challenge, provisioning (IFRS 9), reporting to executive committees, and regulatory submissions, ensuring regulatory compliance and risk alignment.

Qualifications

• Extensive experience in managing secured and unsecured credit portfolios.
• 15+ years in credit risk management within the banking industry.
• Detailed understanding of Banks Act and related regulations.
• Strong data analytics and stakeholder engagement skills.
• Leadership and ability to challenge and influence senior teams.

Responsabilités

• Provide independent 2nd line oversight of unsecured and secured lending portfolios.
• Challenge and validate credit risk policies, RAF alignment, and decision frameworks.
• Produce independent risk reporting to Excos, Risk Committees, and senior management.
• Oversee IFRS 9 provisioning, staging, and ECL calculations.
• Lead regulatory submissions, ICAAP input, and regulatory reporting.

Connaissances

Adaptive Thinking

Business Requirements Analysis

Change Management

Data Compilation

Policy Development

Presenting Solutions

Oral Communications

Strategic Planning

Readiness Assessments

Formation

Bachelor’s Degree

Post-graduate Qualification

Description du poste

## OM Bank - Head Credit RiskApply: Hybrid: Johannesburg: Cape Town: Full time: Posted Today: JR-81882**Let's Write Africa's Story Together!**Old Mutual is a firm believer in the African opportunity and our diverse talent reflects this.**Job Description**At OM Bank, we strive to attract great people who are passionate about coming together for a higher purpose- building something unique and aspirational, always aiming to be the best they can be. We are rooted in our purpose of inspiring and enabling our customers to grow and sustain their prosperity. Reporting to the Chief Risk Officer, the Head: Credit Risk (Line 2) is responsible for the Line 2 Risk oversight for Unsecured and Secured Credit risks portfolios across OM Bank. Areas of focus include, Origination, Account Management, Credit Limit Management, Collections, IFRS 9 Provisioning, Regulatory Reporting, Credit Risk Regulatory Reporting. Responsible for overseeing the credit risk framework of a bank and its alignment with the Banks Act and the Regulations relating to Banks. Represent OM Bank on credit industry forums at the Banking Association of South Africa (e.g. Heads of Credit, Heads of Debt Review). Share and socialise key insights and feedback from these forums internally to ensure that the bank’s credit practices remain aligned with industry standards and conform to agreed approaches. Work closely with the Compliance and Legal teams to ensure that OM Bank’s frameworks, policies, and standards are fully compliant with all applicable regulatory requirements. Oversee the bank's credit risk processes and its compliance with the directives of the Prudential Authority, South African Reserve bank and any related best practices. Engagement with key Stakeholders is required to ensure alignment and tracking of progress across key Credit risks. There will be Line Management responsibility for 1 or more Risk Officers. Collaboration with the other Risk teams is crucial given the interconnectedness of risks, and a working knowledge of processes in banking will be required. A strong understanding of regulations related to a Banking environment is also required. Build a strong 2nd Line Credit Risk function that demonstrate: • Independence and objectivity • Strong analytical capability • Deep understanding of unsecured and secured credit risk dynamics • Ability to challenge constructively • Clear communication to senior stakeholders# **KEY RESULT AREAS****Credit Risk Oversight and Reporting*** Provide independent oversight of unsecured lending activities conducted by the 1st line.* Ensure that credit risk practices align with the bank’s risk appetite framework (RAF).* Review and challenge credit strategies, policies, and decision frameworks.* Ensure compliance with internal policies, regulatory requirements, and industry standards.* **Produce and present independent risk reports to:*** Executive committees* **Emerging risks*** **Deteriorating segments*** **Concentration risks*** Ensure reporting is forward-looking and actionable (not just descriptive).* Provide input into the CRO, Executive Credit Committee, Executive Risk Committee on key Credit risks.* Provide relevant expertise and input when completing regulatory report submissions.* Provide reporting and insights at forums such as Excos, Risk Committees and other Management Committees etc.* Support reporting processes across the Credit Risk team.* Support with alignment of reporting between the Line 1 and Line 2 Risk teams.**Risk Appetite and Portfolio Monitoring*** **Define, refine, and monitor risk appetite metrics, including:*** **Approval rates*** **Expected credit losses (ECL)*** **Non-performing loans (NPLs)*** **Vintage curves and roll rates*** Track portfolio performance across segments (e.g., origination cohorts, products, channels).* Escalate breaches of risk appetite with clear remediation actions.**Credit Policy and Strategy Review*** **Approve or provide independent challenge on:*** Credit policies (e.g., affordability rules, scorecard thresholds)* Underwriting criteria* Limit assignment strategies* **Ensure policies strike the right balance between:*** Growth objectives* Risk tolerance* Validate that policy changes are evidence-based and data-driven**Provisioning and IFRS 9 Oversight*** **Provide 2nd line challenge on:*** Expected Credit Loss (ECL) calculations* Staging allocations (Stage 1, 2, 3)* **Assess reasonableness of:*** Macroeconomic scenarios* Management overlays (post-model adjustments)* Ensure compliance with accounting and regulatory standards.**Stress Testing and Scenario Analysis*** **Conduct or review portfolio stress testing, including:*** Economic downturn scenarios* Interest rate shocks* Unemployment impacts* Assess resilience of the unsecured portfolio under stress.* Provide input into ICAAP and capital planning.**Regulatory and Compliance Oversight*** Ensure adherence to regulatory requirements (e.g., Basel, local prudential rules).* Review regulatory submissions related to credit risk.* **Interface with regulators on:*** Portfolio performance* Risk management practices* Ensure conduct risk considerations (fair lending, affordability, customer outcomes).**New Product and Change Risk Assessment*** **Review and challenge new product proposals and changes to:*** Lending criteria* Distribution channels* Purpose-based Lending Initiatives* Use of alternative data for credit decisioning* Conduct risk assessments before implementation.* Ensure risks are properly identified, mitigated, and approved.**Collections and Recoveries Oversight*** **Oversee strategies for:*** Early arrears management* Collections treatment strategies* Write-offs and recoveries* **Ensure alignment with:*** Customer fairness principles* Regulatory expectations**Issue Management and Remediation*** **Track and challenge remediation of:*** Audit findings* Regulatory issues* Internal risk events* Ensure timely and effective closure of risk actions.**Stakeholder Engagement and Challenge*** **Act as a credible challenger to:*** Business (Line 1 Credit)* Finance (ECL, provisioning)* Analytics teams* Influence decision-making while maintaining independence.* Engage at senior levels (Exco, Board committees).**Risk Management*** Support management with the policy adoption, roll out and compliance.* Successfully collaborate with all levels of stakeholders to ensure strong risk management practices.* Ensure completeness of risk registers on risk management system* Risk appetite metrics review and monitoring* Provides objective oversight, monitors and reports on the maintenance of prescribed minimum standards in the Bank risk management methodologies, processes and data requirements, and initiates appropriate corrective action as may be required.* Takes a proactive, forward-looking approach to providing risk oversight, considering the full risk profile of the business/segment, risk events, KRI’s, RCSA’s, emerging risks and external factors.* Training of OM Bank employees on Risk Management**Combined Assurance*** Risk assessments and thematic deep dives to support Combined Assurance Model* Identify assurance gaps and roadmaps to close gaps. Oversight on Line 2 and Line 3 activities and gaps* Continuous assessment of adequacy and effectiveness of controls as per the approved combined assurance model.**Stakeholder Management*** Collaborates strongly with Management/Executive teams to ensure risks are managed appropriately and pro-actively* Provides support to the Line 1 risk owners, controls owners, risk indicator owners, management action owners and risk coordinators, so they are enabled to fulfil their risk management responsibilities.* Provides input into the annual review of risk profiles for the bank.* Strong collaboration is required with all Risk CoEs and other Assurance providers.**Team Effectiveness*** Displays exemplary Role-Model Leadership behaviour in all engagements with the business* Execute responsibilities in line with the values of OM Bank* Creates a climate for optimal performance.* Balances own priorities while directing and motivating others.* Guides and directs staff to achieve operational excellence standards.* Drives a culture of high performance within team and in the business* Selects potential staff to sustain customer/client service delivery.* Ensure succession planning is in place within team and across risk and control owners**ROLE REQUIREMENTS*** Bachelor’s Degree and/or post-graduate qualification in Credit Risk management/ internal audit/ engineering/ finance/ business administration or a related field.* Extensive experience in managing secured and unsecured credit portfolios and leading credit change initiatives in a bank.* Proven experience (15+ years) in credit risk management within the Banking industry, with a strong understanding of credit origination, account and limit management, collections risk management, IFRS 9, stress testing, payments, credit processes and regulatory requirements.* Detailed understanding and experience in and with the Banks Act and Regulations relating to Banks, with a particular focus on credit risk and counterparty credit risk.* Sound knowledge of risk management frameworks, methodologies, and tools, such as risk assessment matrices, scenario analysis, and risk modelling software.* Solid Line1 Credit experience is advantageous.* Solid Planning, Integration and Execution skills.* Strong stakeholder management skills across all levels.* Strong leadership skills, including coaching and mentoring.* Excellent written and verbal communication skills, especially presentation skills.* Strong data analytical skills**Skills**Adaptive Thinking, Business Requirements Analysis, Change Management, Current State Assessment, Data Compilation, Executing Plans, Oral Communications, Policies & Procedures, Policy Development, Presenting Solutions, Professional Presentation, Readiness Assessments, Strategic Planning**Competencies**Balances Stakeholders### ### Builds Effective Teams### ### Builds Networks### ### Business Insight### ### Collaborates### ### Communicates Effectively### ### Drives Vision and Purpose### ### Ensures Accountability**Education**Bachelors Degree (B)**Closing Date**15 November 2026 , 23:59***The appointment will be made from the designated group in line with the Employment Equity Plan of Old Mutual South Africa and the specific business unit in question.***