Senior Manager, Operational Risk

The Board of ICBC Standard Bank Plc has ultimate responsibility for Risk Management, however on a day to day bases; risk is managed through the three lines of defence model. Ultimately this ensures all staff are accountable for Risk Management and builds a strong risk culture that is supported by a robust governance structure.

The Risk department consists of specialists that manage the Credit, Country, Market and Operational Risks that the Bank is exposed to in order to minimise the risk of financial loss. In addition, these main risk types, the department’s resources include teams that manage risks specific to Physical Commodities, Model Risk and Recovery of Non-Performing Assets.

Operational Risk is responsible for 2nd line of defence risk management, control oversight, monitoring and reporting. It maintains an Operational Risk framework in line with industry best practise which incorporates independent assessment, Risk- and Control Self Assessments, Key Indicators and Incident Management.

The purpose of this role is to operate the operational risk management framework, working with business areas and support functions, to identify, assess, monitor and report on the operational risks the bank faces.

To maintain the framework in line with evolving regulatory requirements and identify operational risk through a continual cyclic process which includes risk assessment, risk decision making, and implementation of risk controls, which results in acceptance, mitigation, or avoidance of risk.

The role’s primary focus will be on the management of Operational Risk for specific Bank functions (as assigned)

• Facilitating Risk and Control Self Assessments (RCSA) by Risk Owners to ensure completeness and accuracy. This will include running risk assessment workshops with various business areas and support functions, and consolidating the results into operational risk maps.
• Proactively seeking out ways to improve the operational risk framework. Advise Risk Owners on methods to develop and implement risk identification processes that incorporate internal and external business environment, integrates key risk indicators, business process changes and loss experience to effectively monitor risk in accordance with established operational framework and methodologies
• Collecting and analysing operational incidents to ensure that relevant lessons are learnt; agreed action plans monitoring and escalating the issues to the management attention when necessary
• Providing independent 2nd line assurance of the effectiveness of the control environment through thematic reviews and key controls testing) and advising on likely effective control approaches and mitigation activities
• Building strong relationships with relevant business areas to be aware of business developments and their impact on the operational risk profile
• Building strong relationships to work with Op Risk colleagues in other locations
• Monitoring and reporting on risk status and changes to the control environment.
• Create and develop strategic reporting for senior management and relevant Committees. Monitor and report on both the enterprise and business lines risk status and effectiveness of changes to the control environment

We're looking for the following skills and experience.

• Experience of working in a regulated environment, ideally Financial/Professional Services
• Strong product knowledge, particularly in relation to Fixed Income and/or Commodities.
• Understanding of the full transaction lifecycle and associated process flows
• Understanding of Operational Risk frameworks and methodology
• Understanding of risks and controls, with the ability to apply expertise to detect and highlight potential issues and themes, and propose changes
• Experience of effective time and resource management to ensure that objectives are achieved and projects are delivered on time.
• Comfortable dealing with senior management and building relationships with a variety of stakeholders and partners
• Skills in leadership to engage with stakeholders, present ideas clearly to both individuals and groups and lead function initiatives to ensure that work is completed in a controlled and efficient manner
• Strong written skills to communicate risks and recommendations clearly, and can effectively relate technical subject matter to a non-technical audience

ICBC Standard Bank Plc (ICBCS) is a leading financial markets and commodities bank, driven to deliver the right…