Group Risk Officer Enterprise Risk

Group Risk Officer Enterprise Risk page is loaded Group Risk Officer Enterprise Risk Apply remote type Hybrid locations Sandton time type Full time posted on Posted 2 Days Ago job requisition id R-15964301 Empowering Africa's tomorrow, together…one 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
The Group Risk Officer Enterprise Risk reports directly to the Absa Group CRO. This role purpose is to guide the group on strategic and emerging risks including overseeing risk appetite and stress testing. In addition, the role will cover model development and management of the infrastructure and frameworks for economic capital and earnings at risk. In addition, the role will cover second line oversight over capital, liquidity, insurance risks and any other risks not specifically covered by any of the other Group Risk Officers as they are formative in nature.

The Enterprise Risk function is responsible for horizon scanning and identification of emerging risks, assessing impact from these emerging risks and guiding business towards pro-active actions to deal with these risks. It is also responsible for aggregating risks across risk types and assessing the interplay between risk types, including reporting of these risks to the relevant executive and board sub-committees.

Coverage of the role includes: Strategic Risk, Top Risk, Recovery Planning, Enterprise Risk, Enterprise Risk Reporting, Enterprise Risk Management Framework, Enterprise wide stress testing, Group Risk appetite, Capital Risk, Liquidity Risk, Insurance Risk and Model Risk for Enterprise models.Job Description Accountability:  Enterprise Risk The Group Risk Officer Enterprise Risk is accountable for the following activities: Influences and provides risk advice to the Strategy Office in developing and monitoring strategic risk. Provides end to end oversight of enterprise risk management including related infrastructure, frameworks and policies, etc.Accountability: Group-wide Stress Testing Develops risk profile stress testing requirements, standard and methodologies based on management's internal risk management requirements and regulatory requirements.Defines roles, responsibilities and process for performing stress tests.Leads group – wide stress testing exercises.Execution of summary group level stress tests.Aggregation of bottom-up country, line of business and risk type stress tests.Ensures alignment between stress testing and financial forecasting.Coordinating key actions emanating from stress testingLeads the risk functions medium term planning process. Accountability:  Group Risk oversight Second line oversight over the following Risk Types:Liquidity Risk – The risk that the firm is unable to meet its contractual or contingent obligations or that it does not have the appropriate amount, tenor and composition of funding and liquidity to support its assets.Capital Risk – Risk that the Group has inadequate capital to meet demand, regulatory obligations, risk and therefore becomes insolvent or requires resolution.Insurance Risk – The risk of underwriting to the firms PnL due to claims that are insufficiently capitalized.Pension Risk – The risk of capital or income volatility because the Group's defined benefit obligations (DBO's) increasing or the value of the assets backing these DB obligations decreasing due to changes in both the level and the volatility of prices.Any other risks that are formative in nature that does not have coverage in any other Group Risk areas. E.g. Credit Risk/Sovereign Risk in the Treasury Portfolio - the risk of suffering financial loss due to a borrower, counterparty to a derivative transaction, or an issuer of debt securities defaulting on its contractual obligations; upcoming regulatory changes and impact on business. Accountability:  Internal Control Designs and implements effective internal control systems including a clear organization structure, formal system of delegations of authority and accountability and a framework of supervision:All Key Risk as defined in the Enterprise Risk Management Framework are proactively identified, assessed, controlled, reported managed and challenged on a normal and stressed scenario basis and contingency plans are developed as appropriate.Absa Group policies are implemented and consistently applied across the portfolio with appropriate inclusion of local laws and regulations.Enterprise Risk Function's processes and controls are designed to comply with Absa Group policies with appropriate inclusion of local laws and regulations. The design or operation of these processes and control can be performed by or in conjunction with Business Units and or other function, however the Group Risk Officer remains accountable for the effectiveness oversight and outcomes with the Business/ Functional Head being responsible for the supervision, design and day to day operation of the controls.Accurate and timely representation of the Enterprise risk profile to key stakeholders (1)) Absa Group Exco and its sub-committees (2) Absa Group Board Committees (3) Regulators and (4) Risk Exco. Such representation should include material concentrations and known and emerging risks that could impact Absa Group Risk Appetite or Risk Profile under normal and stressed scenarios. Accountability:People & Organization Leads and develop the Enterprise Risk Function resources in the most effective and efficient manner to execute the functions plan including : Building a clearly articulated Risk Culture to deliver performance consistent with the Absa Values Direct involvement in all senior appointments and setting competencies for the roles Defining personal scorecard objectives and measures for the Function Executive Management that align to the Absa Group Risk plan and Absa's Balanced Scorecards. Designing remuneration structures for the Function that are appropriately aligned with Absa's purpose, values and Policies. Defining personal scorecard objectives and measures for the function Executive Management that align to the Absa Group Risk Plan and Balanced Scorecards. Manage the Function within an agreed Operational Budget that supports delivery of the appropriate risk capabilities in pursuit of the Functions plan. Accountability:Stakeholder Engagement Constructive engagement with Risk and Finance, Business colleagues. Value adding advice and contribution to the Risk Exco. Provides strategic input and influences decisions in key risk management committees across Absa Group representing Group Risk. Interacts with local regulators and industry issues and addresses key portfolio related matters. Influence policy and regulatory direction at an industry level. Is a key partner to the Strategy Office. Preferred Education: CA (SA)/ (CFA)/ BSC degree
Preferred Experience: 10+ years (Banking Sector) 10+ years experience in Markets/Trading, Treasury Risk Management 8 years experience on a senior management level in a large Bank. Experience engaging and communicating at senior executive and Board level. Experience as a Senior Executive in Treasury or Balance Sheet Management in a large Bank. Education
Postgraduate 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 About UsTruly AfricanWe are a diversified standalone African financial services group, delivering an integrated set of products and services across personal and business banking, corporate and investment banking, wealth, investment management and insurance.
Absa Group Limited is listed on the JSE and is one of Africa's largest diversified financial services groups with a presence in 12 countries across the continent and around 41 000 employees.
We own majority stakes in banks in Botswana, Ghana, Kenya, Mauritius, Mozambique, the Seychelles, South Africa, Tanzania (ABSA Bank in Tanzania and National Bank of Commerce), Uganda and Zambia. We also have representative offices in Namibia and Nigeria, as well as insurance operations in Botswana, Kenya, Mozambique, South Africa, Tanzania and Zambia.
#J-18808-Ljbffr