Head: Operational Risk

Job Purpose

To lead in developing and monitoring the implementation of the following frameworks:

• Operational Risk Management Framework
• Cyber Resilience Framework
• Information Technology Framework
• Organisational Resilience Framework
• Third Party Risk Management Framework
• Reputational Risk Framework
• Conduct Risk Management Framework
• Anti-Tax Evasion Framework

in the Group and Corporate Investment Banking, to comply with regulatory requirements and ensure alignment to international best practice.

Job Responsibilities

Operational Risk Strategy

• Enable long-term competitiveness through the management, measurement, and mitigation of -enterprise-wide risks.

• Achieve CIB Operational Risk strategy within budget and timelines.

• Make Enterprise-wide risk management (ERM) decisions in the best interest of CIB and ensure the Divisions are compliant with regulations.

• Oversee the CIB Operational Risk strategy and business planning process in consultation with all relevant stakeholders and align to the CIB Risk strategic planning cycles.

• Ensure the business plan is within the context of CIB’s strategic framework.

• Translate the ORM strategy into annual plans and set short-term ORM objectives.

• Lead the implementation of all frameworks mentioned above across CIB.

• Enable competitive advantage for the CIB Operational Risk by implementing innovative ORM solutions and continuous improvements.

Operational Risk Management

• Ensure that CIB implements sound ORM practices.

• Incorporate King III (and IV) principles in the ORM principles deployed.

• Champion innovation and best practice enhancements in ORM.

• Meet all risk management requirements as posed by the legislative, regulatory, and business environment.

• Set various risk appetites for CIB.

• Manage the operational risk capital level, profile and risk appetite ranges.

• Deliver improved business results by providing strategic advice to the Group on the Advanced

• Measurement Approach (AMA), the New Standardised Approach (NSA), modelling, operational risk systems and operational risk management.

• Assess the relevance of the top international risks/emerging risks to CIB.

• Deploy Payments Risk, Third Party Risk and ORM directives and following appropriate change management principles.

• Deliver effective internal and external reporting, while meeting Pillar 3 disclosure requirements.

Stakeholder Engagement

• Maintain relationships with stakeholders in various Clusters including Group RIsk .

• Establish strategic partnerships and long-term relationships with internal and external stakeholders and international bodies South African Reserve Bank (SARB), Banking Association of South Africa (BASA), Operational Risk Data Exchange Association (ORX) etc.

• Attend industry forums to build networks, share knowledge, keep abreast of trends, raise the profile of CIB Operational Risk practices, and obtain knowledge to achieve enterprise objectives.

• Encourage and support cross functional cooperation to create a climate of teamwork and enable workforce upskilling.

Team Leadership and Self-Management

• Provide appropriate leadership, guidance, development and coaching to the team on best practice operational risk management.

• Appoint talent with the right capabilities and competence to improve team effectiveness.

• Assist the team in overcoming their barriers to effective performance and execution of business plans.

• Manage a team by capitalising on opportunities to reward excellence.

• Manage retention and succession of key staff by creating a platform for learning development to sustain the leadership pipeline.

• Provide consistent and continuous training and development on Operational Risk Management and Enterprise Risk Management needs, requirements, principles, structures, policy, guidelines, and standards across the (Payments Risk, Third Party Risk and Operational Risk) organisation.

• Assess, design, and meet learning needs across the operating environment.

Essential Qualifications - NQF Level

Preferred Qualification

BCom in Risk Management, Finance, Financial Management, Accounting, Auditing, or Information Systems 

Essential Certifications

Minimum Experience Level

10 years financial services experience in a senior position, significant operational risk, payments risk, third party risk experience, significant risk management experience in banking, senior management experience at an executive level

Technical / Professional Knowledge

Behavioural Competencies