Standard Bank Senior Manager, Non Financial Risk Management Jobs in South Africa

Standard Bank Senior Manager, Non Financial Risk Management Jobs in South Africa

Job Purpose

  • To support the Global Markets Head of Non-Financial Risk Management in the effective and proactive management of Non-Financial Risk within the Global Markets South Africa Business Units (focusing on the entire Foreign Exchange Business (including retail FX), Money Markets and Local Markets Africa); and act as a trusted risk management partner that equips business with the tools to proactively identify and manage Non Financial risks. This includes e.g. Information, Third Party, Resilience, Technology, Cyber, Regulatory, Legal, People, Compliance, Transaction Processing and Financial Crime /fraud Risk.

  • The role requires operation at both a tactical and strategic level in designing and implementing appropriate risk management support and advice to the Global Markets Business and supporting functions across the value chain. The role will focus on specific desks within Global Markets (including the entire Group Forex business) and a framework focus on certain Non-Financial Risks.

    Key Responsibilities/Accountabilities

    Business unit Non-Financial Risk (NFR) strategy and framework deployment

  • Facilitate the alignment of the NFR management process with Group Policies and appropriate regulatory framework;

  • Communicate the NFR framework, standards and other risk principles effectively to the business i.e. Risk and Control Self Assessments (RCSA’s), Key Risk Indicators (KRI’s), Operational Risk Incidents, Resilience (Business Continuity), Information Risk, and Risk Assurance;

  • Ensure compliance to NFR risk policies.

  • Encourage a high level of awareness of NFR risk in the business;

  • Provide a central point of reference and expertise in NFR matters to the business;

  • Facilitate RCSA’s and KRI’s workshops with business;

  • Assist in the analysis of information and reports to establish trends and consider initiatives to manage risk within appetite (this might include using available systems and tools; or building internal report & analytics (e.g. Advanced Excel; and Power BI reports) to provide more meaningful insights);

  • Identify major risks affecting the business and take necessary steps to measure, monitor and control accordingly;

  • Review and evaluate internal controls and propose appropriate recommendations for any changes and/or enhancements;

  • Ensure that agreed remedial actions adequately address internal control deficiencies and thereafter ensure regular follow up to ascertain execution and effectiveness;

  • Act as the single interface for NFR Management in the functional area.

  • Drive the adoption of AMA (Advanced Measurement Approach) principles in business to ensure full ownership and understanding of NFR risk management and its related capital implications

    Effective Non-Financial Risk monitoring and prevention

  • Consider risk scenarios to drive capital anticipation (where relevant) in the business.

  • Facilitate the risk and control self-assessment implementation in the functional area in terms of coverage, frequency, participation and assurance activities.

  • Develop risk management plans with the business unit leadership team in line with risk assessment results.

  • Align risk monitoring activities with Internal Audit and other service provides (Combined assurance) scope of reviews to ensure collaboration and avoid duplication.

  • Influence and monitor progress of action plans arising from risk assessments, operational risk monitoring, internal and external audits and regulatory inspections to improve the risk and control environment.

  • Use external data to benchmark against trends or actual control environments itself.

  • Create capacity, whether in NFR Management or in the business teams, for the capturing of incidents and operational risk data i.e. risk assessments, scenarios, etc. on the bank's operational risk system (Risk Market Place). Review system reports that provide information on incidents logged on a quarterly basis.

  • Work with the Business unit to improve their control environment based on the assessment.

  • For material incidents, measured according to the materiality matrix, own and drive the investigation into the root cause of the incident.

  • Guide the detailed analysis of recurring issues and determines which control failures are at the root cause.

  • Review the reports and issues arising and determines the most appropriate course of action.

  • Participate in the development of training and awareness programs on the prevention of risk in the business.

  • Drive the rollout of functional area NFR training and awareness as well as the adoption of NFR policies.

  • Monitor findings of other assurance functions (Compliance, Legal, Regulatory, and Audit) and
    provides insights into the specific risk and control environment.

  • Review the ability of the business to execute against group-wide risk and control mandates

    Optimise the risk profile in the Business Units Manage NFR within Appetite

  • Define metrics to track and monitor the NFR risk status;

  • Use of data analytics to proactively identify trends and share lessons across business lines and locations.

  • Ensure adherence to the Risk governance framework

  • Develop key relationships with business to ensure NFR strategy is implemented

  • Participate and provide input into all material planned changes in the Business Units - strategy changes, product changes, segment changes, system changes and process changes - and provide a proactive view of the potential risks that the changes may bring into the organization.

  • Represent NFR Management at relevant Business Unit committees and critically reviews all business cases for product and process changes. Review control measures that have been designed for these changes and provides guidance to process, product and policy owners on improvements required prior to implementation.

  • For residual risk, support the business to analyze the impacts and drives the formal process of risk acceptance, where relevant.

  • For items where the residual risk is too high, decline the implementation of the change with reasons. If the business doesn't accept the veto, escalate to NFR Management Exco level.

  • Ensure that there are processes in place to track the progress of remedial actions underway for control improvements.

  • Perform trend analysis on all the incidents, audit findings, identified risks (be it information, technical or operational) to provide a complete picture of the risk profile of the area and to highlight trends. Perform trend analysis on world-wide banking financial risk trends.

  • Compile reports in preparation for presentation at relevant Committees (including the Group Foreign Exchange Committee).

    Manage the NFR Management function for Business Units

  • Design and implement an agreed program of regular monitoring and evaluation to assess appropriateness and effectiveness of the internal governance and control arrangements.

  • Support all control evaluation related matters for the business unit e.g. internal and external audits and inspections.

  • Oversee effective implementation and maintenance of group digital solutions for NFR Management and reporting.

  • Oversee data validation to ensure accurate and stable data flow.

  • Oversee the collation of input required for statutory returns

    Manage change risks in the Business Unit

  • Conduct high level assessments of risks throughout the life-cycle of the project/program/initiative to ensure identified risks are appropriately mitigated prior to the project/program/initiative going live to prevent operational risk incidents.

    Minimum Qualification and Experience

  • Honours Degree in Finance and Accounting

  • Post Graduate Diploma in Risk Management

  • Risk Management (FRM) certification / Internal Audit; Compliance or Data Analytics related qualifications

  • 5-7 Years experience in Non Financial Risk Management (Operational Risk) - Experience Description: Operational Risk- Practical knowledge of risk and control frameworks and application in financial services industry. Be fully conversant in risk appetite, risk response and process improvement concepts. Understand non-financial risk characteristics

  • Preferred: 5-7 Years experience in Financial Control - Experience Description: Is able to design control measures and checks in accounting and financial processing activities to mitigate risks of errors, omissions and fraud. SEASONED - Applies concepts without requiring supervision, able to provide technical guidance when required

  • Preferred: 5-7 Years experience in Governance - Experience Description: The ability to interpret NFR frameworks, regulations and laws that apply to the business and to provide information to business on how to comply.

    How to Apply

  • For more information and job application details, see; Standard Bank Senior Manager, Non Financial Risk Management Jobs in South Africa

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