Operational Risk Manager

Nedbank

Johannesburg

On-site

ZAR 1,000,000 - 1,800,000

Full time

9 days ago

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Job summary

Nedbank is seeking a Strate Compliance Officer to oversee the implementation and monitoring of the Operational Risk Management Framework in Nedbank and its subsidiaries, ensuring alignment to regulatory requirements and international best practice.

You will act as the appointed Strate Compliance Officer, liaising with Strate supervision, regulators, auditors and internal stakeholders to drive compliance, reporting and risk mitigation across the business.

Qualifications

5-8 years experience in Risk, Governance and Auditing.
2-4 years experience in banking and/or insurance.
Chartered Accountant, Advanced Diplomas/National 1st Degrees and MBA preferred.

Responsibilities

Act as the appointed Strate Compliance Officer and ensure ongoing compliance with Strate Rules and related regulatory requirements.
Coordinate regulatory communication, engagement and reporting.
Monitor compliance through ongoing compliance reviews, risk assessments and control monitoring activities.
Identify, assess, elevate and report breaches, discrepancies, irregularities and regulatory incidents within prescribed timelines.
Provide independent oversight and challenge regarding compliance risks, control effectiveness and the implementation of regulatory requirements across the business.

Skills

Banking procedures

Data analysis

Communication

Decision making

Stress tolerance

Building partnerships

Education

Chartered Accountant

Advanced Diplomas/National 1st Degrees

MBA

Job description

To develop and monitor the implementation of the Operational Risk Management Framework in Nedbank and its subsidiaries to comply to regulatory requirements and ensure alignment to international best practice.

Job Responsibilities

Strate Compliance Officer Responsibilities

Act as the appointed Strate Compliance Officer and ensure ongoing compliance with applicable Strate Rules, Directives, the Financial Markets Act and related regulatory requirements.
Serve as the primary liaison between Strate Supervision and the business, coordinating regulatory communication, engagement and reporting.
Monitor compliance with Strate Rules and Directives through ongoing compliance reviews, risk assessments and control monitoring activities.
Identify, assess, elevate and report breaches, discrepancies, irregularities and regulatory incidents within prescribed timelines.
Provide independent oversight and challenge regarding compliance risks, control effectiveness and the implementation of regulatory requirements across the business.
Coordinate and submit regulatory reports, responses, root cause analyses and other required submissions to Strate Supervision
Facilitate the interpretation, communication and implementation of amendments to Strate Rules, Directives and other market regulatory developments.
Report material compliance matters, breaches, fines and emerging regulatory risks to senior management and relevant governance forums.
Engage with internal and external assurance providers, including regulators, auditors and compliance stakeholders, to support regulatory reviews and assurance activities.
Promote a strong culture of compliance, ethical conduct and regulatory accountability by providing advice, guidance and awareness across the business
Deliver on the Group Operational Risk Management (GORM) strategies and annual business plans aligned to regulatory requirements (BASEL, Banks Act) and take corrective action, where necessary.
Provide input into the enhancement of the Operational Risk Management Framework (ORMF), methodologies, policies, processes.
Improve the effectiveness and relevance of internal and external loss operational risk data.
Review outcome of operational risk practices of stakeholders.
Monitor and analyse major operational risk losses and control breakdowns.
Identify regulatory changes and potential future operational risk impacts.
Compile and/or provide input into internal operational risk reports and external disclosures.
Engage with stakeholders to obtain an understanding of their operational risk practices to contract, manage and meet expectations.
Develop and maintain partnerships with stakeholders to facilitate accomplishments of operational risk objectives.
Become a trusted advisor to, and influence decision making of stakeholders by providing an advisory service, guidance and support on operational risk management practices.
Facilitate collaboration between stakeholders.
Collaborate and maintain relationships internally.
Build and maintain relationships with relevant regulators and other assurance providers.
Contribute to a culture of transformation by participating in Nedbank culture building initiatives, business strategy, and CSI.
Stay abreast of developments in field of expertise, ensuring personal and professional growth.
Understand and embrace the Nedbank vision and values, leading by example.
Identify opportunities to influence the improvement or enhancement of business processes and methodologies adding value to Nedbank.
Share operational risk related knowledge, resources and practices with team to enable upskilling.
Obtain buy-in for developing new and/or enhanced processes that will improve the functioning of stakeholders' businesses.
Advanced Diplmas/National 1st Degrees
Complted All / partial modules of the Strate Compliance Officer Exams