- Published on
SOUTH AFRICAN POST OFFICE (SAPO) - HEAD: OPERATIONAL RISK (L4)
SOUTH AFRICAN POST OFFICE (SAPO)
INTERNAL & EXTERNAL
Job Title: Head: Operational Risk (L4)
(position based in Pretoria)
Reports to: Chief Risk Officer
Summation
To lead the Bank’s Operational Risk function by providing strategic direction and focus. Ensuring that the bank continuously manages its Operational risks, that is, the risks caused by inadequate or failed internal processes, people and systems or from external events (including legal risk).
Key Responsibilities:
Strategic alignment
• Develop, establish and maintain an effective operational risk management framework across the Business Units as aligned with the Organization’s vision, operational risk standards and regulatory expectations
• Coordinate and work with senior risk officers within the organization to promote a strong enterprise-wide operational risk management framework
• Partner with other risk functions, and the CRO to ensure timely identification, escalation, mitigation and management of Operational Risks
• Establish and enforce minimum policies, standards and procedures for identification, assessment, control, monitoring and reporting of operational risk across the organisation
• Serving as an independent and objective central point for all operational risk-related issues that affect the organization’s risk profile and its short- and long-term strategic plans
• Proactively manage the organization’s aggregate operational risk profile and escalating operational risk issues that may threaten the acceptable risk profile of the organisation to the CRO
• Develop and implement strong organizational operational risk management monitoring, control and oversight processes in line with regional requirements
• Operating within the three lines of defence governance model to ensure allocation of clear responsibilities for the management of operational risk, including robust challenge of the 1stline business
• Foster a strong Operational Risk management culture across the organisation
Operational
• Working with the CRO, to develop the organization’s operational risk appetite, where applicable, and ensuring that risk is managed in line with stated risk appetite
• Overseeing the organization’s Business Units’ effective implementation and execution of the operational risk management framework to meet Postbank standards and regulatory requirements
• Working with the CRO and Operational Risk Managers in ensuring consistency in operational risk policies, standards and procedures for enterprise-wide operational risk issues, including but not limited to Loss Data Collection, Risk and Control Assessments and Key Risk Indicators
• Ensuring that the Organization’s Business/Support Units proactively identify, report and analyze operational risks within their units, conduct root cause analysis of operational events perform risk self-assessments, identify control gaps and appropriate remedial actions
• Managing Postbank New Product Risk Assessment process, responsible for reporting and escalating to senior management as necessary
• Working with CRO to develop MIS which appropriately aggregates and monitors risk at regional and organizational levels for aggregate reporting and transparency, for management purposes and regulatory expectations
• Ensuring key Operational Risk issues, including the vision, plan and approaches are communicated across the organisation
• Providing training to 1st line of defense as new Operational Risk tools and enhancements are released
Regulatory reporting
• Coordinating closely with the CRO and Operational Risk Managers on operational risk regulatory and economic capital requirements as well as reporting
• Interfacing with the auditors and regulators on operational risk related matters; and analyzing and responding to audit and regulatory examination findings
Financial management
• Participate in the annual budgeting process for Postbank and manage own cost centres
• Ensure the effective and efficient management and control of functions/resources in accordance with the stipulations of the
• Public Financial Management Act, fraud prevention and risk management principles, legislation, company policies, processes, regulations.
People Management
• Recruit and develop skilled and talented staff
• Manage performance of direct reports ensuring agreement of annual goals, measuring performance against agreed goals and dealing with non-performance accordingly
• Talent management of direct reports, including career development and paths for all staff
• Ensure that staff receive on-going adequate and relevant training to support their careers
• Ensure that the working environment contributes to improving staff morale and increased productivity
• Alignment to the bank’s transformation objectives through departmental processes
• Operating within the three lines of defence governance model to ensure allocation of clear responsibilities for the management of operational risk, including robust challenge of the 1stline business
• Foster a strong Operational Risk management culture across the organisation
Operational
• Working with the CRO, to develop the organization’s operational risk appetite, where applicable, and ensuring that risk is managed in line with stated risk appetite
• Overseeing the organization’s Business Units’ effective implementation and execution of the operational risk management framework to meet Postbank standards and regulatory requirements
• Working with the CRO and Operational Risk Managers in ensuring consistency in operational risk policies, standards and procedures for enterprise-wide operational risk issues, including but not limited to Loss Data Collection, Risk and Control Assessments and Key Risk Indicators
• Ensuring that the Organization’s Business/Support Units proactively identify, report and analyze operational risks within their units, conduct root cause analysis of operational events perform risk self-assessments, identify control gaps and appropriate remedial actions
• Managing Postbank New Product Risk Assessment process, responsible for reporting and escalating to senior management as necessary
• Working with CRO to develop MIS which appropriately aggregates and monitors risk at regional and organizational levels for aggregate reporting and transparency, for management purposes and regulatory expectations
• Ensuring key Operational Risk issues, including the vision, plan and approaches are communicated across the organisation
• Providing training to 1st line of defense as new Operational Risk tools and enhancements are released
Regulatory reporting
• Coordinating closely with the CRO and Operational Risk Managers on operational risk regulatory and economic capital requirements as well as reporting
• Interfacing with the auditors and regulators on operational risk related matters; and analyzing and responding to audit and regulatory examination findings
Financial management
• Participate in the annual budgeting process for Postbank and manage own cost centres
• Ensure the effective and efficient management and control of functions/resources in accordance with the stipulations of the
• Public Financial Management Act, fraud prevention and risk management principles, legislation, company policies, processes, regulations.
People Management
• Recruit and develop skilled and talented staff
• Manage performance of direct reports ensuring agreement of annual goals, measuring performance against agreed goals and dealing with non-performance accordingly
• Talent management of direct reports, including career development and paths for all staff
• Ensure that staff receive on-going adequate and relevant training to support their careers
• Ensure that the working environment contributes to improving staff morale and increased productivity
• Alignment to the bank’s transformation objectives through departmental processes
Minimum Requirements
• Qualification in Risk Management or similar, Commerce qualification will also be applicable
• 8-10 years of experience in a risk management environment of which at least 5 years’ experience at managerial level
• Seasoned risk management professional with relevant operational risk experience, possessing a strategic as well as granular understanding of operational risk, including emerging risk issues and regulatory expectations for operational risk management at large, complex banking organizations.
Knowledge
Thorough understanding of banking practices and the associated risk management thereof
Keen understanding, and experience with, Operational Risk Management advanced methodologies and standards, including tools, methodologies and databases required to support advanced management programs in a bank.
Proven ability to lead with authority at a large, complex organization to achieve results.
Ability to communicate with knowledge and credibility to all levels of management, including appropriate management committees, and offering well considered operational risk management solutions and recommendations.
Good understanding of the Banks Act
Good understanding of Government related acts (PMFA, Banks Act, Postbank Act, FAIS Act and FICA Act, OHSA, Labour Relations Act, Criminal Procedure Act)
Skills and Attributes
Strong leadership skills with ability to interact and influence at all levels, Good process evaluation skills, Good analytical skills, Good strategic thinking ability, Strong relationship management skills, Good business intelligence and organisational awareness ability, Good interpersonal and presentation skills, Good people management skills, Good written and verbal communication skills, Good planning, organising and time management skills, Good working knowledge of Microsoft Office and Change management skills. Lateral thinker, High attention to detail, Decisive, Results driven, Resilient, Able to work under pressure.
CONTACTS
The South African Postbank SOC Limited is committed to the achievement and maintenance of diversity and equity in employment, especially with regard to race, gender and disability. In compliance with the banks employment equity plans, first preference will be given to candidates from designated groups. Correspondence will be limited to short listed candidates only.
If you wish to apply, please forward your Curriculum Vitae (CV) to recruitment@postbank.co.za.
Please indicate in the subject line the position you are applying for.
Closing date: 23 September 2020
Position numbers: 60058550
Cost Centre: 50800
If you do not hear from the South African Postbank SOC Limited or its Agent within 3 months of this advertisement, please accept that your application has been unsuccessful. The South African Postbank SOC Limited reserves the right not to fill the positions or to re-advertise the positions at any time.