Specialist: Risk and Governance needed at Absa Group Limited

Job Summary

• To embed effective risk management practices within Savings and Investments and to effectively implement Absa Group Enterprise Risk Management (ERM) policies and framework. 
• To drive and execute on the agreed Savings and Investment Banking Combined Assurance coverage plan. Assist in the improvement of the control environment in line with the Risk and Control Self-Assessment (RCSA) Policy, Assurance Standard and Critical Process Assessment (CPA) Standard.

Job Description

• Risk Management:
• Providing subject matter expertise to risk types in accordance with Enterprise Risk Management Framework (ERMF).
• Responsible for development and coordination of risk management programmes and ensures that risk management programmes are designed to identify risk exposures at a process level and perform a risk and control self-assessment to determine the residual risk which must be controlled by means of internal control measures. 
• Providing management with accurate risk information for effective decision-making on internal controls
• Facilitate the identification, assessment and relevant mitigation of operational risk in line with Enterprise Risk Management Framework (ERMF) and ensure alignment with the risk and control library.
• Ensure that key risks and controls are identified, documented and assessed regularly in line with Critical Process Assessment (CPA), Management Control Assessment (MCA), Risk and Control Self-Assessment (RCSA) standards and policies.
• Identify, assess and report key risks arising from significant events, investigations, and audit, material and control issues.
• Identify control gaps in processes and recommend remedial actions.
• Develop and recommend appropriate Key Risk Indicators (KRIs) if relevant (including the revision of thresholds when required).
• Keep appropriate risk management system(s) up-to-date with all ORMF components: Risk Events, Issues, Actions and etc.
• Analyse and investigate the causes for operational events/ breakdowns, ensuring that operational events are adequately addressed with both a long -term sustainable solution and interim mitigating controls.
• Develop strategic and tactical responses with management to address risk exposures.
• Ensure the business continuity plan is updated and tested.
• Provide input into risk policies, strategies and measurement methodologies.
• Drive the value of risk awareness for the team through formal and informal training as may be required.
• Challenge BU management to drive prioritisation and mitigation of key risks.
• Monitor both internal and external environments in order to identify emerging risks, trends and best practices and report timeously to relevant business stakeholders.
• Assist in reviewing business initiatives and proposals, including new, amendment, review of products.  
• Governance and Reporting
• Source information and compile the risk reports and ensure data quality and accuracy of reporting on an ongoing basis.
• Prepare the risk profile reporting for the relevant stakeholders/committees.
• Ensure minutes, action log and decision log for Risk meetings are clearly articulated and completed, adopted as set-out in the Terms of Reference.
• Ensure that the Central Action Tracker is up to date and feedback on progress obtained on regular intervals.  Escalate any actions that may possibly go overdue as indicated by management.
• Complete the monthly Risk Events Reconciliation, Management Control Assessment (MCA), Risk Events and Issue Trackers, Risk Self-Assessments and ensure supporting evidence is provided. 
• Ensure mandatory escalation required by Operational Risk Management Framework (ORMF) is performed. (Losses above threshold, indicators above threshold)
• Provide updated feedback to relevant governance committees on progress of significant items.
• Ensure adherence to all applicable policies, standards, frameworks, procedures and regulations.
• Facilitate and co-ordinate the integration of the business related risk requirements into the broader governance structures, and ensuring the evidencing of Principal Risk and Key risk-related decisions
• Log and report operational risk framework components onto the operational risk system and to the various committees.
• Monitor completion of mandatory training completion and follow up where necessary.
• Facilitate tabling of business initiatives and proposals, including new, amendment, review of products at respective governance structures.
• Management Assurance / Internal Audit / External Audit Engagement
• Develop the Assurance Plan through consultation with the respective Savings and Investments management team and various assurance providers across the three lines of defence. Conduct 1LOD risk and processes assurance review in alignment with the combined assurance plans
• Plan the delivery of assigned assurances to a high quality and in line with Assurance Standard.
• Prepare announcement and scoping memos with key deliverables in terms of assurance timelines.
• Conduct walkthroughs to understand the area under review and risks inherent in the processes.
• Develop an in-depth knowledge of the business and use this knowledge to identify and assess risks and controls.
• Design and ensure the execution of approved sampling techniques, testing strategies on assurance reviews.
• Prepare detailed working papers for all assurance reviews to ensure a consistent testing approach in line with the Assurance Standard.
• Manage the internal audit, combined assurance, and compliance relationship; regular stakeholder engagement, drive the scope of audits,
• Ensure that findings are noted in the CPA’s, RCSA, Risk Packs and actions are tracked until resolution to ensure no overdues.
• Once actions and milestones are closed ensure that controls are amended to reflect the resolution of the action.
• Track progress of any action plans raised in the Operational Risk Self-assessment in order to move to full compliance.

Qualifications
Experience

• 3 – 5 years’ experience in risk/control environment within the Financial Services Industry is essential.
• Proactive, self-starter, able to show initiative and work with minimal guidance.
• Strong written and verbal communications skills, be able to write and present reports to Risk Committees
• The ability to work in a team is critical to success in this role.
• Computer proficiency: advanced Excel, Word and Power Point skills
• Capacity to work under pressure and meet deadlines.
• Solution-driven, passionate and energetic.
• Possess a strong sense of ownership and initiative.

Skills

• Strong emotional intelligence.
• Ability to work in teams across functional and support functions.
• Ability to communicate across different levels.
• Analytical.

Education

• Bachelor`s Degrees and Advanced Diplomas: Business, Commerce and Management Studies (Required)