Operational Risk Manager

Operational Risk Manager

Description

To provide clear direction to the business units on the Operational and Resilience Risk role, strategic plan and key focus areas and provide relevant coaching, guidance, and training to the businesses on the implementation and maintenance of the Operational and Resilience Risk framework components (including Risk and Control Self-Assessment, Risk indicators, Events, Strategic Risk Assessments, and Key Risk.

To assess the level of compliance of business for the relevant risk frameworks and policies. Keep up to date and remain relevant with the Operational and Resilience Risk framework, policies, standards,





procedures and relevant legislation/regulations and act as the specialist in RB business for all elements of the Operational and Resilience Risk framework, including the ownership of related initiatives and support. Provide input into the 2nd line strategy for managing operational risk.
- Second line monitoring, checking, and challenging first line in the setting and execution of the Operational Risk strategy, leveraging off 1st line Governance and Control resources in each business area for execution, where applicable.
- Provide thought leadership and drive consistency in the second line approach to Operational risk.
- Monitor Combined assurance strategy and actively participate in the combined assurance forum.
- Ensure that each business areas has measures in place to monitor and manage all of the sub risk type profiles.
- Drive the development and implementation of standards, where applicable.
- Establish risk appetite in conjunction with the business, to ensure that business maintains exposure in line with this appetite based on a balanced risk/reward decision.






- Drive the embedment of the Group operational risk standards, promoting the integration of operational risk considerations, into all risk reward decisions and general business management.
- Actively play a senior role in the Management Committees of the product/service area assigned to, as well as in the Operational risk 2nd line Manco.
- Assess, challenge and monitor the current and forward-looking exposure (financial and non-financial) to Operational Risk (i.e., considering all framework elements, strategic planning, business expansions/ contractions and other major change programmes, including new product approval).
- Act in an advisory capacity to support the scoping and definition of related Operational and Resilience Risk deliverables and plans,





ensuring that these are aligned to the Group Operational and Resilience Risk calendar.
- Assist in ensuring Business readiness for assurance reviews and deep dives and play an active role in the discussion of issues to be reported from assurance reviews, ensuring that issues are valid and factually accurate, and actions are well defined and timed appropriately.
- Assess the relevance and performance of the Operational and Resilience Risk indicators and thresholds.
- Review the key risk assessments related to the relevant business units for completeness, with appropriate challenge.
- Check and challenge the end-to-end Operational Risk profile of the relevant business units, including emerging risks, to ensure ‘no surprises.
- Consider all framework elements, strategic planning,





business expansions/contractions and other major change programmes / new product approval.
- Partner with the first line of defense to provide guidance on issue/action documentation, tracking, escalation, and remediation.
- Perform conformance reviews on agreed aspects of the framework.
- Oversee deep dive- and lessons learnt exercises for material risks, including the review, challenge, and tracking/escalation of findings.
- Review major remediation plans for adequacy, completeness and progress
- Oversee monthly loss event reconciliations and related attestations to ensure that all (above threshold) risk events and losses have been captured on the Operational Risk system.
- Assess the key risk framework for appropriateness.






- Assess the relevance and performance of key risk indicators and thresholds.
- Review and challenge the overall key risk assessments. Provide input to the Group Policy and Standards; and Contribute to the Operational Risk Committees and forums
- Validate data and information in relevant reports provided by first line of defence, as appropriate.
- Provide independent challenge on, and insight, interpretation, and analytics from relevant reports to senior management.
- Ensure appropriate reporting and escalation at the various BU Governance Forums.
- Prepare appropriate current and forecast Operational and Resilience Risk profile reporting for the RB business units as agreed.
- Review and Challenge first line of defense reporting on the risk profile.






- Compile and/or review reporting to senior forums and Regulators on behalf of RB, where required.
- Represent RB in reporting forums across the Bank and with external parties such as assurance providers and Regulators.
- Check and challenge Operational Risk governance followed by first line of defence.
- Check and challenge governance where 3rd Party vendors offer services.
- Own and manage second line governance, where applicable.
- Participation on BU assurance activities, in line with the combined assurance model and ensuring that are undertaken to independently assess the effective implementation and embedment of the operational risk frameworks,





its associated policies and standards and management of the underlying risks across the organisation and will include risk based.
- Assist in ensuring Business readiness for assurance reviews and deep dives. Play an active role in the discussion of issues to be reported from assurance reviews, ensuring that issues are valid and factually accurate, and actions are well defined and timed appropriately.
- Develop and execute, in collaboration with Internal Audit, Group Risk, Group Operational and Resilience Risk and Compliance, an effective and efficient methodology/working model for combined assurance (assurance and conformance assessment) of operational and resilience risk practices against the framework, policies and standards.
- Achieve the required 2LoD assurance responsibilities, perform conformance reviews to provide assurance that risk frameworks,





policies and standards are effectively implemented and embedded within the BU, and perform discretionary control testing, in accordance with the Assurance Standard.

Job Details

Take note that applications will not be accepted on the below date and onwards, kindly submit applications ahead of the closing date indicated below.

18/10/24

All appointments will be made in line with FirstRand Group’s Employment Equity plan. The Bank supports the recruitment and advancement of individuals with disabilities. In order for us to fulfill this purpose, candidates can disclose their disability information on a voluntary basis. The Bank will keep this information confidential unless we are required by law to disclose this information to other parties.

▶️ Operational Risk Manager
🖊️ Firstrand Bank
📍 Sandton