Reporting to the Group Chief Executive Officer, the Group Chief Risk Officer will manage the development and implementation of risk and compliance models thereby ensuring that policies, systems, procedures and controls are operating efficiently and effectively
The Group Chief Risk Officer will:
• Develop and lead implementation of the business unit’s strategic and operational plans, policies, and procedures.
• Develop and implement risk management processes and tools within the organisation.
• Manage risks to the Business unit by timeously and systematically identifying risks and developing appropriate risk mitigation strategies.
• Evaluate the adequacy and effectiveness of internal controls, governance and risk management of all business processes within the Business unit.
• Ensure that there is full compliance by the Business unit with relevant legislation, policies and guidelines.
• Champion and facilitate implementation of risk management systems across all business units.
• Create and maintain ongoing awareness of end-to-end Enterprise Risk Management Framework.
• Guide and facilitate several risk related events and investigate to mitigate the consequences for the organisation.
• Advise, monitor, report and analyse risk management processes, exposure, and trends.
• Prepare consolidated risk reports for the organisation for tabling at EXCO and Board committee meetings.
• Ensure compliance with all new and existing legislation and carry out monitoring activities in accordance with agreed monitoring coverage plan.
• Provide compliance reports to regulatory authorities, management, and Risk Management Committee and
Audit & Risk Committee.
• Lead Legal Support Services.
• Ensure alignment and management of the Legal strategy as well as policies and plans with the overall business strategy.
• Analyse changes to legislation and communicate how these impact the relevant governance structures.
• Build and create strategic partnerships with all key stakeholders.
• Ensure financial sustainability and viability of the Business Unit.
• Manage Human Capital.
The following minimum requirements should be met in order to be considered:
• B Com Degree (Management/Business Management/Finance).
• Diploma in Banking/Credit Risk/Risk Management.
• MBA/MBL or MCom.
• Eight (8) - Ten (10) years’ experience in a financial institution (banking, development finance, credit risk and economic development) of which five (5) – seven (7) should be at Senior Management Level.
• Proven experience in management of people (minimum of 20 subordinates).
• Banking/financial services experience is essential in respect of credit risk and compliance.
• Experience in developing and managing policies in accordance with relevant legislation.
• Experience in writing and presenting reports at a level of the Board.
• Membership of the Institute of Risk Management South Africa is compulsory.
• Membership of the Compliance Institute of Southern Africa is compulsory.
• Membership of the Institute of Bankers in South Africa is advantageous.
• Computer Literacy (MS Office).
• Knowledge and experience in financial planning and forecasting.
• Knowledge and understanding of Public Financial Management Act.
• Knowledge of corporate government principles.
• Sound understanding and working experience with Enterprise Risk Management practices and philosophy, including the design and implementation of processes and systems.
• Knowledge of credit risk assessments, due diligence and financial modelling.
• Knowledge of relevant legislation e.g., Banks Act, FAIS, FICA, and NCA.
• Knowledge of King III, New Companies Act.
• Knowledge of Fraud prevention strategies.
