Title:  Operational Risk Manager

Job Family

• Risk, Audit and Compliance

Career Stream

• Operational Risk

Leadership Pipeline

• Manage Self: Professional

Job Purpose

Job Responsibilities

        Strate Compliance Officer Responsibilities

• Act as the appointed Strate Compliance Officer and ensure ongoing compliance with applicable Strate Rules, Directives, the Financial Markets Act and related regulatory requirements.
• Serve as the primary liaison between Strate Supervision and the business, coordinating regulatory communication, engagement and reporting.
• Monitor compliance with Strate Rules and Directives through ongoing compliance reviews, risk assessments and control monitoring activities.
• Identify, assess, escalate and report breaches, discrepancies, irregularities and regulatory incidents within prescribed timelines.
• Provide independent oversight and challenge regarding compliance risks, control effectiveness and the implementation of regulatory requirements across the business. 
• Coordinate and submit regulatory reports, responses, root cause analyses and other required submissions to Strate Supervision
• Facilitate the interpretation, communication and implementation of amendments to Strate Rules, Directives and other market regulatory developments.
• Report material compliance matters, breaches, fines and emerging regulatory risks to senior management and relevant governance forums.
• Engage with internal and external assurance providers, including regulators, auditors and compliance stakeholders, to support regulatory reviews and assurance activities.
• Promote a strong culture of compliance, ethical conduct and regulatory accountability by providing advice, guidance and awareness across the business

Operational Risk Manager Responsibilities 

• Deliver on the Group Operational Risk Management (GORM) strategies and annual business plans aligned to regulatory requirements (BASEL, Banks Act) and take corrective action, where necessary.
• Provide input into the enhancement of the Operational Risk Management Framework (ORMF), methodologies, policies, processes.
• Improve the effectiveness and relevance of internal and external loss operational risk data.
• Review outcome of operational risk practices of stakeholders.
• Monitor and analyse major operational risk losses and control breakdowns.
• Identify regulatory changes and potential future operational risk impacts.
• Compile and/or provide input into internal operational risk reports and external disclosures.
• Engage with stakeholders to obtain an understanding of their operational risk practices to contract, manage and meet expectations.
• Develop and maintain partnerships with stakeholders to facilitate accomplishments of operational risk objectives.
• Become a trusted advisor to, and influence decision making of stakeholders by providing an advisory service, guidance and support on operational risk management practices.
• Facilitate collaboration between stakeholders.
• Collaborate and maintain relationships internally.
• Build and maintain relationships with relevant regulators and other assurance providers.
• Contribute to a culture of transformation by participating in Nedbank culture building initiatives, business strategy, and CSI.
• Stay abreast of developments in field of expertise, ensuring personal and professional growth.
• Understand and embrace the Nedbank vision and values, leading by example.
• Identify opportunities to influence the improvement or enhancement of business processes and methodologies adding value to Nedbank.
• Share operational risk related knowledge, resources and practices with team to enable upskilling.
• Obtain buy-in for developing new and/or enhanced processes that will improve the functioning of stakeholders' businesses.

Essential Qualification - NQF Level

• Advanced Diplmas/National 1st Degrees
• Complted All / partial modules of the Strate Compliance Officer Exams

Preferred Qualification

• Chartered Accountant , Advanced Diplomas/National 1st Degrees
• MBA

Minimum Experience Level

• 5 - 8 years experience in Risk, Governance and Auditing and/or 2- 4 years experience in banking and/or insurance

Technical / Professional Knowledge

Behavioural Competencies