Chief Risk Officer, Absa Regional Operations (Aro)

Chief Risk Officer, Absa Regional Operations (ARO) Apply

Remote Type: Hybrid

Location: Sandton

Time Type: Full time

Posted On: Posted Yesterday

Job Requisition ID: R-15967750

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 incumbent is accountable to the Group Chief Risk Officer and supports the ARO Chief Executive in delivery and execution of strategy and risk appetite. The CRO ARO is responsible for the consolidated ARO Risk profile across CIB, RBB and Treasury, covering all risks and activity on the balance sheet of ARO subsidiaries. This includes Credit Risk, Traded and Non-Traded Market Risk, Operational Risk, Country & Sovereign Risks as well as franchise and strategic risks.

The CRO ARO is responsible to ensure that the risk profile and performance is effectively managed and reported, in an integrated manner across the businesses outside of South Africa, working closely with the Country CRO's and Chief Credit Officer's (CCO).

Job Responsibilities Accountability: Risk Management Effectively challenges the Business Units on their strategy and risk shape/profile in the context of the macro-economic and regulatory environment and incorporating risk adjusted returns. Determines the overall Risk Appetite and risk strategy and proposes the same for approval to the respective committees. Allocates and monitors the enterprise-wide risk profile in liaison with Business CEO's and/or Country CEO's, aligned with their approved strategy and ensures it is consistent with the overall approved Group Risk Appetite. Manages and monitors the enterprise-wide risk profile and ensures it is appropriate, well understood and controlled by all stakeholders. Outlines and implements an effective governance framework for all risks in line with regulatory requirements. Fulfils all duties and responsibilities as defined in the King Report on Corporate Governance. Ensures that risk management activities are robust, thorough and complete and that risk capabilities in each business are developed and commensurate with risks inherent and strategy/plans. Establishes appropriate systems and controls including assurance to identify, assess, measure, report, control and manage key risks. Ensure timely escalation of risk issues to enable effective mitigation. Develops and maintains applicable standards and oversees risk and control in Critical Processes and Management Control Approach (MCA). Reports to Group Executive Management, ARO Business Area Executive Committees (Business Area ExCo) and relevant committees, regulators and other stakeholders on the business area's risk positions, adherence to Risk Appetite and control environment. Establishes regional level oversight of the adoption and adherence to frameworks and policies for all risks. Implements Risk Measurement models for RBB and methodologies ensuring practices are in line with regulatory and accounting principles and standards. Chairs the ARO ERC that deals with franchise wide risk matters with escalation/socialization with the RBB ERC, CIB ERC, AGL ERC and other Group Committees as required. Fulfils a governance role in serving as a member of country and group executive and management committees. Performs regular or periodic stress tests on risk portfolios and reviews and approves appropriateness of the stresses applied at the business levels. Drives proactive compliance and risk management within the country team and function as a whole. Leads the ARO combined assurance process and ensures appropriate management and reporting in country and Group. Delivers impairment budget, ensuring that the agreed asset quality is maintained within risk appetite. Determines action plans to effectively reduce and manage risks related to internal assurance providers as well as regulator commitments. Interacts with the different risk management policies and processes and incorporates all the necessary elements. Ensures the oversight and timely response and remediation of regulatory matters. Supports the formulation and execution of sovereign risk appetite and management. Accountability: Strategy Formulation and Execution Ensures an integrated and effective risk management framework is implemented and embedded in all the business areas/countries. Accountable for implementing efficient and effective governance of significant risks and related opportunities. Aligns and collaborates at a strategic level with all other risk activities delivered in Absa. Monitors the external business and market environment and develops/amends risk strategies as and when required in partnership with relevant stakeholders. Develops and implements timely corrective actions with respect to country goals, business and financial plans to mitigate risks, emanating from threats and opportunities arising from internal and/or external environmental changes. Ensures that risk is well positioned to provide competitive and industry-leading practices and the delivery of excellent service to our customers and stakeholders. Provides clear and constant feedback on progress and challenges within the business ensuring that the ARO CEO and RBB Managing Executive are kept informed at all times of current events and issues on the horizon. Regular country visits to influence adoption and embedment of a coherent risk culture. Financial and Resource Management Ensures that capital on risk is managed as a resource and desired returns on this are achieved. Monitors annual risk resource utilization and implements strategies to improve the efficient allocation and utilization of resources and budgets within own and country teams. Drives the effective identification, funding and resourcing of new change initiatives with own team and country. Ensures an appropriate risk/reward ethos that optimizes risk weighted asset consumption and ensures the effective use of capital. Accountability: People Management Designs appropriate structures to deliver the desired results and acquire, build and retain the right talent. Builds the capability and talent across the risk function in each country. Provides clear direction on strategic goals, translating and prioritizing them into business and performance measures. Role models the Absa values and embeds them through the function, enabling colleagues to always operate and demonstrate the values. Reviews resource plans and ensures that resource allocation is in line with projected business plans and priorities. Leads the function and builds an environment to support talent management, development, and mobility. Builds and delivers people plans that align to the respective business plans as well as the Absa Group Risk Function people plan and ensures succession plans are in place for critical roles. Drives and leads the diversity and inclusion (D&I) agenda across the function. Ensures all relevant D&I activity is conducted within the function and contributes to the Absa D&I strategy. Ensures that the remuneration of the function is in line with industry benchmarking for RBB centre team and risk roles discharging RBB or franchise wide roles. Inputs and moderates performance ratings and compensation arrangements for the In-Country risk teams with input from Shared Service/Functional owners and review by the Absa Group CRO, RBB ARO ME and CIB CRO. Leverages the Absa wide learning agenda to develop and grow the capabilities within the function. In partnership with relevant matrix stakeholders, manages the performance, recruitment, remuneration, development, mobility, succession, and career development of the centre and in country team. Accountability: Stakeholder Management Ensures effective interaction with the In-Country Boards and Risk Committees, RBB ARO ME & ARO CEO, AGL Group CRO and his/her ExCo. Supports the RBB ARO ME and ARO CEO on internal and external interactions where required. Builds and maintains effective relationships with Business/Functional Heads. Ensures effective interaction with the CRO CIB and his/her ExCo. Actively participates in external forums to establish and maintain networks in the financial services industry. Keeps abreast of Industry and Regulatory developments. Ensures strategic alignment of ARO risk in line with Group Risk through the Absa Group CRO and his/her ExCo. Interfaces with all the Prudential Authority (South African Reserve Bank), in-Country Regulators and/or non-executive governance structures on risk matters. Accountability: Business Management Ownership and accountability for coordination of risk elements of annual planning and review of MTP, STP and RAF budgets. Manages the effective and efficient operation of the function in a manner consistent with the overall Risk Target Operating Model agreed by Group CRO and his/her ExCo. Controls costs effectively to ensure operation of the Risk functions in Country in line with agreed costs and headcount budgets. Supports the Group CRO in the effective and efficient operation of the Regional Africa Risk Function in a manner consistent with the overall Risk Target Operating Model agreed by Risk ExCo as may be required by the Group. Role/Person Specification Preferred Education BSc Hons Degree, BCom Hons, MBA, Masters, CA or a related NQF Level 9 equivalent qualification. Preferred Experience Ten (10+) years' experience in the Banking sector which must include proven experience, ideally with international/regional exposure. Ten (10) years' experience managing a large Control or Operations environment. Five (5) years' experience at a senior management level in a large corporate. Experience engaging at a Board level (preferable). Knowledge and Skills Strategic thinking: Ability to think and act in a strategic manner. Communication and Influence: Ability to communicate effectively across a range of internal and external senior stakeholders. Strong networking skills. Awareness of cultural differences and varying legal/regulatory environments. Stakeholder management on a senior and executive management level. Innovation and change: Ability to identify opportunities to improve service and deliver on these. Proven leadership: Ability to direct staff to achieve business objectives and goals. People management: Ability to form and develop high performing teams with robust bench-strength. Problem solving and decision-making: Ability to quickly understand a situation and take decisive action. Quality and Excellence: Commitment to quality, high standards and robust risk/control management. Proven ability to deliver service excellence, managing often conflicting priorities. Knowledge of Corporate and Investment banking and broad technical product skills. Good knowledge of risk, controls and governance processes, tools and practices. Domestic and international travel required. Experience of working in a multinational, multi-segment environment with matrix reporting structures. 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.

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