Job Description

Empowering Africas tomorrow, togetherone story at a time.With over 100 years of rich history and strongly positioned as a local bank with regional and international expertise, a career with our family offers the opportunity to be part of this exciting growth journey, to reset our future and shape our destiny as a proudly African group.Job Summary As a senior member of the Office of the Group Chief Risk Officer, the incumbent has full accountability for the independent oversight of Relationship Banking (RB) enterprise-wide risks in accordance with the second line of defence requirements as set out in the Enterprise Risk Management Framework. The RB CROs primary responsibility through the risk framework is to drive an end-to-end risk management culture that leverages appropriate tools and governance structures for the measurement, reporting and control of financial and non-financial risks (including Credit Risk and Operational and Resilience Risk). The RB CRO, with input from the RB CE and management is moreover required to manage the risk appetite framework in relation to the Boards agreed risk tolerance levels. The incumbent will be a member of the RB Executive Committee and the Group Risk Executive Committee and will be expected to opine on and monitor all risk-taking activities across the RB business, encompassing Commercial, Agriculture, SME, Wealth, Asset Finance and Property Portfolios.Accountability: Risk Appetite and Strategy

• In conjunction with business leadership, define and support the RB risk appetite aspiration through the annual integrated planning process.
• Actively challenge and contribute to business growth with an enablement mindset under the agreed risk appetite construct.
• Monitor risk appetite consumption and the drivers of the underlying portfolio risk profile to inform appropriate risk management actions.
• Check and challenge collections strategies, capacity requirements and delivery to ensure an appropriate response to current market and economic dynamics.
• Drive an appropriate risk/reward ethos that optimizes RWA consumption and ensures the effective use of economic capital.

Accountability: Risk Culture and Governance

• Create and manage a rigorous risk governance structure to ensure risk transparency and effective reporting and decision-making.
• Uphold the importance of frameworks and policies and drive the embedment and assessment of their ongoing effectiveness.
• Promote risk awareness and accountability throughout the business in accordance with the ERMF.
• Identify and assign management actions to address deviations from a sound risk culture and control environment.
• Design and implement an effective system of internal controls including a clear organisation structure, a formal system of delegations of authority and accountability and a framework of supervision from the RB CRO throughout the RB Risk Function.
• Accurate and timely representation of the RB risk profile at various Group governance forums by driving a fit-for-purpose risk reporting standard oriented to the needs of a specific audience.

Accountability: People and Culture

• Build a clearly articulated people management and culture framework consistent with the Absa values.
• Together with the RB Risk People Partner determine and agree the people management strategy with a focus on leadership, talent management, development, resourcing, retention and succession planning.
• Drive the RB Risk organizational transformation, diversity and inclusion agenda with a focus on employment equity targets.
• Ongoing risk function rightsizing, skills adequacy and leadership coaching.
• Defining people and function scorecard objectives and measures that align to the RB Business and Group Risk balanced scorecards.
• Lead, manage and develop the RB Risk Function resources in the most effective and efficient manner to execute the functions plan.
• Manage the RB Risk Function within an agreed operational budget that supports the delivery of the appropriate risk capability in support of the business strategy.

Accountability: Frameworks, Controls and Processes

• All Principal and Key Risks, as defined in the Enterprise Risk Management Framework, to be proactively identified, assessed, controlled, reported, managed and challenged on a normal and stressed scenario basis.
• Champion an appropriate operational risk management and control culture across RB.
• The design or operation of processes and controls are to be performed by or in conjunction with BU Managing Executives or other stakeholders, with the RB CRO to retain accountability for the effectiveness, oversight and outcomes thereof.
• Ensure a continuing business drive to maintain a satisfactory management control approach and control environment that addresses all risk types and processes.
• Ensure that the operational framework is understood and embedded across all its facets in the entire RB business, business front office through to infrastructure, operations, control functions and assurance providers, and across the entire value chain of products, services and channels.
• Establish an appropriate strategy around emerging risk themes and mitigation approaches, including specific plans and capabilities around fraud and cyber risk.
• Design, implement and maintain a system of RB enterprise-wide controls that achieves expeditious, concise and reliable combined assurance assessments.
• Contribute to the development of the Enterprise Risk Management Framework and ensure embedment of the principal risk types and the effective ongoing management of all risks.

Accountability: Stakeholder Engagement

• Contribute as a key RB Exco member to the overall RB agenda and its stakeholders, and pursuant thereto ensure that the risk agenda is appropriately governed, managed and reported to all requisite stakeholders.
• Effective participation in key risk management committees covering RB, Group and Board Risk Committees, together with RB Exco and relevant sub-Exco committees.
• Provide leadership in regulatory engagements and regulatory bodies and represent RB in key industry associations and forums.
• Interact proactively with the Group Chief Risk Officer to ensure that that he/she is kept abreast on RB financial and non-financial risks, key initiatives and emerging issues.
• Ensure proactive/responsive engagement with the Prudential Authority.
• Engage with the Principal Risk Officers (PROs) to ensure appropriate policies, frameworks and standards are developed in support of the ERMF and engage in the assurance activities of the PROs.

Accountability: Risk Business Management

• Effective and consistent implementation and management of the Principles for Effective Risk Data Aggregation and Risk Reporting.
• Ensure measures are in place to adhere to the data policies and the effective implementation and ongoing management of RDARR requirements regarding quality of data.
• Ensure data, MIS and reporting of risk metrics are of the highest quality and take steps to remediate data inaccuracies and improve data standards.
• Ownership and accountability for the annual planning and review of MTP, STP and RAF risk cost budgets.
• Manage the effective and efficient operation of the function in a manner consistent with the overall Risk Operating Model in compliance with the ERMF and as agreed with the Group CRO and Group Exco.
• Consistently review the effectiveness of risk systems in place and contract for improvement or replacement where required.

Accountability: Capability and Enablement Shared Service across Relationship Banking

• Set the strategy for Risk technology, systems, infrastructure, and data requirements as an enabling function in support of the Relationship Banking strategies.
• Demonstrate clear understanding of the Risk and Business strategy and ensure the Capability and Enablement team aligns and supports this.
• Demonstrate innovative thinking and identify solutions in the technology environment, to address known issues and challenges in Risk.
• Identify new trends and developments and incorporate into forward-looking strategies and plans to ensure the businesses can leverage systems and resources to remain competitive.
• Own and manage the integrity and reconcilability of data used in all aspects of credit risk including Modelling, MIS, and Capital Reporting. These processes must include privacy, security, integrity, metadata management, traceability, availability, and accuracy.
• Manage multiple project teams across Risk ensuring delivery on time and to high standards.

Role/person specificationPreferred Education

• B-degree in Accounting/Commerce: NQF level no. 7
• Preferred: CA(SA)/ Actuary

Preferred Experience

• 15 years in Banking/Finance
• 10 Years senior management experience, in a retail banking environment
• Strategic analysis, finance and general management within a Bank
• Experience in dealing with Banking Regulators
• Strongly preferred: experience as a Retail Bank CRO or CFO in a major South African Bank

Knowledge and Skills

• Knowledge and understanding of Retail Credit Risk
• Knowledge and skills in the general operations, finances and risk management of a Retail Bank
• Decision making
• Knowledge of banking legislation, risk regulations and industry standards
• Experience based knowledge of credit risk management principles, policies and practices
• Credit risk models, systems and processes
• Conflict management
• Analytics and reporting
• Financial management
• An understanding of the effect of economic, social and political risk and its relationship to the risk of the retail business
• Strong leadership skills

Technical CompetenciesStrong interpersonal skills (Advanced)

• The ability to develop rapport and credibility at all levels across the firm, including at a Board level.
• Relating and networking

Strategic thinker (Advanced)

• Formulating strategies and concepts.
• Clear ability to focus on matters that will make a difference

Attention to detail (Advanced)

• Good analytical skills, with ability to recognize emerging issues and develop executable solutions

Board engagement on technical matters (Advanced)

• Understanding of level of complexity in communicating to the Board on technical matters

Risk analytics (Advanced)

• Understanding of risk analytic processes and methods

EducationPostgraduate Degrees and Professional Qualifications: Business, Commerce and Management Studies (Required)Absa Bank Limited is an equal opportunity, affirmative action employer. In compliance with the Employment Equity Act 55 of 1998, preference will be given to suitable candidates from designated groups whose appointments will contribute towards achievement of equitable demographic representation of our workforce profile and add to the diversity of the Bank.Absa Bank Limited reserves the right not to make an appointment to the post as advertised

Absa