Business Unit: Discovery Bank
Function: Risk Management
Date: 17 Aug 2024
About Discovery
Discovery's core purpose is to make people healthier and to enhance and protect their lives. We seek out and invest in exceptional individuals who understand and support our core purpose, and whose own values align with those of Discovery. Our fast-paced and dynamic environment enables smart, self-driven people to be their best. As global thought leaders, Discovery is passionate about innovating in order to not only achieve financial success, but to ignite positive and meaningful change within our society.
About Discovery Bank
Discovery Bank is a bank like no other – a shared-value bank, designed with our clients in mind. We're all about sharing the value that clients create when they manage their money well, back with them through exceptional interest rates and rewards. Our Vitality Money programme measures how well clients manage their finances, informs them of what it means to be financially healthy, and empowers them with the knowledge to get enhanced rewards for managing their money well. If you're adaptable, a problem-solver, always questioning the way things are done, passionate about doing what is right, and obsessed with providing a quality service experience, we have a job for you where you can be your best in an environment that's safe and nurturing.
Job Purpose
The Governance/Assurance Manager is accountable for the development and implementation of the governance and combined assurance programme for Discovery Bank on par with best practice.
The Risk Manager maintains a strong governance framework and combined assurance framework and is responsible for ensuring compliance with the provisions of the applicable legislation and regulations.
Areas of responsibility may include but are not limited to
Implement a combined assurance strategy and framework
Identify any areas of potential assurance gaps and duplication of resources within this framework
Develop and obtain approval for the annual combined assurance plans, assess adequacy and recommend corrective solutions for gaps or duplications within the plan
Monitor and report on progress against the combined assurance plan
Conduct bi-annual assessments for the Operational Risk Committee on the results of combined assurance
Partner with other Business Units to provide regulatory advice and guidance on quality assurance.
Facilitate the escalation of risk and control issues requiring visibility by providing a cohesive and comprehensive view of assurance across the risk environment.
Providing an opportunity to identify gaps in assurance needs that are vital to the organisation, and to plug them (including using internal audit and compliance) in a timely, efficient, and effective manner.
Manage the workload of the team to ensure delivery of annual assurance plan to time and quality, and effective management and oversight of issues and actions.
Manage the development of the team to ensure an appropriate functional structure exists that supports delivery of the integrated assurance plan.
Advise the Head of ERM on various aspects of the integrated assurance plan
Develop effective ways of working in partnership with key functions within the risk Business Unit and across other Business Units to ensure a consistent holistic approach to assurance and early communication of emerging issues.
Develop effective ways of working with Regulatory Compliance, Internal Audit and External Audit to ensure effective and efficient management of the integrated assurance programme.
Design and implement effective governance processes to ensure that the assurance framework is operating as intended, including comprehensive reporting of audit and assurance findings, to provide assurance to EXCO and Audit & Compliance Committee.
Ensure Terms of References, Polices, Charters, annual work plans are updated yearly. Yearly evaluation of the Boards and Committees.
Inspect and oversee the ethics related issues
Evaluate and manage all governance practices
Establish guardrails and governance framework to ensure adherence to process, compliance and regulatory requirements are communicated and complied with.
Develop and implement effective reporting for relevant stakeholders and Audit, Compliance and Risk Committee to ensure adequate risk awareness.
Prepare presentations, risk information and investigations as required by the Exco, Board, Head of Risk or CRO. Prepare final reports and presentations required, which will include inter alia, Enterprise risk report, weekly EXCO Report, shareholders reports, BU risk reports and dashboards, Regulatory reports such as ICAAP, sustainability and integrated reports
Use the GRC system as an enabling technology, including automated risk monitoring and reporting
Personal Attributes and Skills
A sound knowledge of the financial / retail banking industry, the mechanics of its operation and its trends. Familiarity with banking specific and other relevant legislation and regulations (e.g. Banks Act, Basel, TCF, POPI) is useful
Legal background will be advantageous
Audit experience will be advantageous
Advanced knowledge of Microsoft Office
Solid understanding of risk management methodologies
Identify, analyse and address risks appropriately in order to move the business forward
Quantitative skills to work with complex data
Communicate efficiently and effectively with the business at all levels
Facilitate workshops and conduct training
Engage at both a strategic and operational level
Ability to work independently and meet deadlines
Confidentiality and Integrity
Education and Experience
Bachelor degree in Commerce, finance, law, audit, risk management or similar.
Minimum 5 years' experience in an Enterprise Risk and/or assurance
Minimum 3 years' financial services experience
EMPLOYMENT EQUITY The Company's approved Employment Equity Plan and Targets will be considered as part of the recruitment process. As an Equal Opportunities employer, we actively encourage and welcome people with various disabilities to apply.
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