Overall Job Purpose:
To support the Head of Group Stress Testing by executing on the stress test processes, with specific focus on co-ordination of the end-to-end scenario generation and stress test execution, alignment of risk and finance inputs; consolidation, review and challenge of stress testing results and preparation of reports for senior management and the board.
Take responsibility for compliance of the Group’s stress testing execution with the Stress Testing Framework and ensure that governance process for stress testing exercises are followed:
â— Take responsibility for the embedment, review and challenge of the stress testing framework.
â— Ensure that all instances of breaches to the Stress Test and Enterprise Risk Management framework are reported and brought to the attention of the Group Head of Stress Testing.
â— Manage internal and external audit requirements regarding group stress testing.
â— Perform and co-ordinate the review, challenge and oversight of stress testing results.
â— Execute on and coordinate top-down and bottom-up stress testing exercises by assessing the impact of the portfolios based on predetermined macroeconomic scenarios and evaluating the impact of the scenarios on the balance sheet, income statement and capital parameters.
â— Facilitate submissions of regular reports to the board and executive
â— Quantify the impact of macroeconomic factors on the risk measures as well as the financial statements of the Bank.
â— Identify the external macroeconomic indicators that most materially impact the bank and monitor them against long-term trends.
â— Review and monitor the Bank’s financial statements, actual performance, and budgets.
â— Keeping abreast and understanding the applicable regulatory requirements that may impact the risk management processes.
â— Leading role and counsel as the primary subject matter expert on these disciplines and best in class quantitative risk management practices.
â— Coordinate the risk contribution to integrated forecasting projects.
â— Assist in data mining, reconciliations and validations of inputs into the integrated forecasting process.
â— Ensure alignment of macroeconomic views for financial planning, IFRS 9 credit impairment calculations and stress testing.
â— Drive the process of narrative setting for purposes of scenario generation, through keeping abreast with financial risk developments locally and globally.
ICAAP Strategy, Framework and Execution
â— Take responsibility for Stress Testing inputs into the Group’s Internal Capital Adequacy Assessment process.
â— Take responsibility for the stress testing and capital inputs into the Group Recovery Plan.
â— Evaluate peer analysis as it pertains to stress testing and capital management.
â— Assess the impact of scenario analysis or stress testing on the capital management strategies in order to determine adequate capital buffers
Stakeholder and Relationship Management
â— Lead by example in building strong internal and external relationships, displaying excellent abilities to initiate strategic dialogue and listen, advise, influence, negotiate and present at different levels.
â— Establish and nurture influential relationships with a wide network across the organisation in order to identify synergies and optimally leverage relationships, knowledge, services and resources to provide superior solutions.
Innovation and efficiencies
â— Lead efficiency efforts through identifying automation opportunities and driving implementation.
â— Drive innovation projects across risk management and treasury, and prove actual value add through cost saving and/or value creation.
â— Drive technological updates to models owned by the function and ensure that the delivery is timeous with no appetite for delays.
Role / Person
Specification Education and Experience Required
â— Honours degree in finance, accounting, economics or quantitative management
â— Accounting or Risk Management qualification will be preferred
â— At least 5 years of experience in risk management / accounting or related field. 5 years’ experience in treasury and capital management.
â— Practical experience of using analytics / modelling to solve complex business problems
Knowledge & Skills:
â— Technical knowledge of capital, impairments and stress testing in banking environment
â— Excellent judgement – risk management and oversight
â— Excellent conceptual ability
â— Ability to build strong partnerships at senior levels
â— Intellectually strong, good strategic capability
â— Knowledge of Retail Banking and related Risk
â— Excellent modelling skills related to financial modelling
â— Deciding and initiating action
â— Learning and researching
â— Entrepreneurial and commercial thinking
â— Relating and networking
â— Adapting and responding to change
â— Persuading and influencing
â— Creating and innovating
(RSA Specific) Special work requirements: Must be able to operate in under a high pressure environment with multiple stakeholder management.
Ensure that all activities and duties are carried out in full compliance with regulatory requirements, Enterprise Wide Risk Management Framework and internal Policies and Policy Standards Understand and manage risks and risk events (incidents) relevant to the role.
To support Group Technology Senior management with their risk, assurance and compliance objectives. To develop, implement and maintain IT risk and compliance (Risk, Audits, SOX, Regulatory etc) initiatives, in line with bankinng guidelines. To successfully evolve Group Technology Risk and Compliance into a pro-active and functionally excellent division.
Risk and Control (Audits, SOX, Compliance etc)
- Monitor to ensure that the relevant compliance training has been completed for staff in the area. Escalate overdue compliance training obligations to the
appropriate level of management.
- Ensure complete alignment with SOX MSA processes throughout the area. This includes ensuring timely completion of attestations (and escalating where required;
as well as tracking remediation for control failures DEA / OET to ensure risk is mitigated within committed timeframes.
- Involvement during planning stage of all audits in the area.
- Review audit reports and factual accuracy of reports and that correct action owners were identified. Review the feasibility of agreed actions. Facilitate closure
of audit findings.
- Maintain a list of all applications managed by the area's Head of Technology classify them according to risk exposure.
- Roll out Risk and Control Assessments (or equivalent) and capture and maintained the results on the relevant system.
- Represent technology risk at senior management forums and committees and provide specialist input as required.
- Act as a liaison between the Head of Risk for the relevant business and the technology teams to ensure that technology risk is adequately considered in the overall risk profile for that business.
- Assist in setting technology risk thresholds and the related key indicators as well as the measurement thereof.
- Record remediation plans (i.e. IBAMs or equivalent) on the relevant system and facilitate closure for all risk and control weaknesses identified.
- Track and monitor the adequate on time remediation of observations raised by internal or external audit, management assurance, observations raised via IBAMS (Issues Being Addressed by Management),and control issues (Senior Management issues) relevant to [functional area name] management, including the production of the closure or milestone conversion documents (Group Technology and Business related).
- Ensure this is done through progress tracking with control owners, status reporting to stakeholders and obtaining assurance for adequacy of remediation activities.
- Engage with technology management and senior management to discuss and manage overall progress against remediation plans.
- Ensure that all closure and/or conversion documents are reviewed by the appropriate stakeholders before being submitted to Senior Management and Internal Audit.
- Joint interaction and support to resolve Group Technology common problems and to find efficiencies.
- Ensure accurate delivery on special risk and compliance projects initiated in Africa Technology Risk.
- Identify all high/medium risk projects in the area and track RAG status from a risk perspective. Be involved in project assurance reviews and ORIA's where required.
Education and Experience Required
- NQF level 6 B Degree
- B degree in Risk Management/Audit/or equivalent Advanced Diploma
- B Degree is required i.e. Information Technology and/or Business Management
- CISA/CISSP/CISM/CGERT/PMP or any other IT Governance related qualification
- 2 years managerial/leadership experience
- 4 years’ experience in a risk and audit environment
- 4 years job relevant experience in IT Governance
- 4 years Financial Business environment or other financial related experience
Knowledge & Skills: (Maximum of 6)
- 4 years Financial Business environment or other financial related experience
- Extensive knowledge, understanding and application
- Good interpersonal, facilitation and negotiation
- Self-confidence and assertiveness/persuasiveness
- Business organisation and industry understanding
- Good understanding of IT operations and processes
- Strategic planning with implementation at tactical