Head of Operational Risk and Credit Governance at Absa Bank Tanzania

Full Time Tanzania March 9, 2023 Banking Jobs

Job Overview

Head of Operational Risk and Credit Governance

Table of Contents

Absa House – ABT

job requisition id: R-15948990

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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.

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Job Summary

Job Purpose

Be a trusted risk advisor that:

Provide management with independent and objective end-to-end Operational Risk and Credit Risk Governance oversight in line with the Enterprise Risk Management Framework and Operational Risk/credit risk control Frameworks.
Understand business processes, model, key drivers, and risk.
Identify risk using data, dashboards, and metrics.
Analyse risk information and provide advice and recommendations on emerging risks, trends, and early detection of control failures.
Set trigger benchmarks and actions and monitor improvements through DDM.
Develop and promote a risk-smart workforce and environment thus ensuring that Business has the capacity and tools to be innovative while recognizing and respecting the need to be prudent in protecting the Bank and its customers’ interest.
Support an effective risk culture, where there is an open, proactive, and constructive dialogue relating to Operational Risk and Credit Risk.
Inform risk profiles and ensure Operational Risk and Credit Risk is managed in line with approved risk appetite.
Enable management to monitor the effectiveness of the control and Governance environment and to take action to remediate and further mitigate Operational Risk and Credit Risk where required.

Function and Business Area Purpose

Absa Bank Tanzania Limited is one of the oldest banks in the country and among the first international bank to open its doors to Tanzania customers in 2000. Absa serves over 65,000 customers through a network of 15 branches and 60 ATMs providing a variety of banking products and services including saving, current and deposit accounts, commercial lending, unsecured lending, treasury, investments, card acquiring, card business, etc. In addition to this, Absa provides specialized services to its clients in services such as Cash-in-Transit, partnership, premier & prestige banking, online banking, mortgage, ATM, and mobile banking.

Absa goal is to become African financial services group that aimed to be the pride of the continent, our purpose is to “Bringing possibilities to life”

Job Purpose

Be a trusted risk advisor that:

Provide management with independent and objective end-to-end Operational Risk and Credit
Risk Governance oversight in line with the Enterprise Risk Management Framework and
Operational Risk/credit risk control Frameworks.
Understand business processes, model, key drivers, and risk.
Identify risk using data, dashboards, and metrics. Analyse risk information and provide advice and recommendations on emerging risks, trends, and early detection of control failures.
Set trigger benchmarks and actions and monitor improvements through DDM.
Develop and promote a risk-smart workforce and environment thus ensuring that Business has the capacity and tools to be innovative while recognizing and respecting the need to be prudent in protecting the Bank and its customers’ interest.
Support an effective risk culture, where there is an open, proactive, and constructive dialogue relating to Operational Risk and Credit Risk.
Inform risk profiles and ensure Operational Risk and Credit Risk is managed in line with approved risk appetite.
Enable management to monitor the effectiveness of the control and Governance environment and to take action to remediate and further mitigate Operational Risk and Credit Risk where required.
Main accountabilities and approximate time split

Leadership and Stakeholder Management Accountabilities

Implement and maintain an effective Operational Risk Management function.
Provide strong leadership, direction and display role model behaviours, inspiring others to work together to achieve the strategic vision.
Build effective working relationships with key stakeholders and information flows across the
Business, Centre Risk function and the various Countries.
Assist the business on execution of strategy by providing advice on risk/control and challenge decisions that pose risk.
Advise leadership on emerging global financial services operational risks / trends and facilitate proactive change ahead of threat materialising.
Provide input into key 1st Line of Defence (1st LoD) governance and control Performance
Development (PD) Plans and participate in year-end feedback process.
Input into compensation structures, objectives, and performance management of employees where appropriate.
Lead the organisation to improve risk management through digitization, automation, standardisation and simplification.

Operational Risk Strategy

Contribute to the development of the Country Risk Management strategy and BAGL RoA Operational Risk Strategy.
Ensure that the Country Operational Risk appetite is appropriate for the execution of the strategy.
Set and recommend business level Operational Risk Appetite – monitor that business performance remains within appetite.
Challenge completeness, relevance and management of risks associated with the execution of the Country strategy.

Operational Risk Framework, Policies and Standards Oversight

Providing clear direction on the Operational Risk role, strategic plan, and key focus areas.
Provide relevant coaching, guidance and training on the implementation and maintenance of the Operational Risk framework components (including Critical Process Assessments (CPAs),
Key Indicators (KIs), Events, Strategic Risk Assessments, and Key Risk Scenarios etc.) and capital drivers.
Assess the level of compliance for the relevant risk frameworks and policies.
Manage / facilitate the Country Operational & Conduct Risk Committee and Combined
Assurance Forum, in conjunction with the Country CRO.
Remain abreast of the Operational Risk framework, policies, standards, procedures, and relevant legislation/regulations.
Provide assurance that the Operational Risk Framework and Standards are implemented through Conformance Reviews where required and as directed by the Combined Assurance Forum.
Maintain and promote network of Lessons Learned (including Root Cause Analysis) sharing across businesses and geographies.
Educate business and facilitate appropriate proactive remediation of identified vulnerabilities.

Operational Risk Management Oversight

Make Risk decisions within mandates delegated by the CRO and escalate risk decisions outside of discretion to the CRO.
(Any individual or function which acts to restrict these powers must be escalated to the CRO.)
Perform independent review and challenge of business /function performance and risk profile.
Assess, challenge, and monitor the current and forward-looking Operational Risk exposure (financial and non-financial) i.e. considering all framework elements, strategic planning, business expansions/contractions and other major change programmes, including New and Amended Product Approval (NAPA).
Support the scoping and definition of related Operational Risk deliverables and plans, ensuring that these are aligned to the central Operational Risk calendar.
Assess the relevance and performance of the Operational Risk indicators and thresholds.
Review the Key Risk Assessments (KRAs) for completeness, with appropriate challenge.
Partner with the first line of defence to provide guidance on issue/action documentation, tracking, escalation, and remediation of Operational Risk issues.
Investigate any matter affecting the business risk profile, which poses undue risk.
Oversee deep dive and lessons learnt exercises for material risks, including the review, challenge, and tracking/escalation of findings.
Review major remediation plans for adequacy, completeness, and progress.
Oversee monthly loss event reconciliations and related attestations to ensure that all risk events and losses have been captured on the Operational Risk system.
Ensure full and accurate reporting of risk events by the Business.
Conduct post incident reviews and analyse root causes and ensure learning points are identified and any necessary remedial action is implemented with a view to improving processes and reducing operational losses.
Escalate any unresolved concerns directly to CRO and the Centre Head of OR.
In the event of a significant control failure or limit breach, ensure appropriate escalation, through the CRO and Centre Head of OR.
Ensure that Operational Risk Management systems and tools are used, and that data is accurate, of good quality and current.

Operational Risk Reporting

Report to business executives and Risk Committees on the risk profile and adherence to appetite.
Validate data and information in relevant reports provided by first line of defence, as appropriate.
Provide independent challenge on, and insight from relevant reports to senior management.
Prepare appropriate current and forecast Operational Risk profile reporting as required by Country and BAGL management / governance.

Credit Risk Governance Oversight

Provide effective advice and support to Key Risk Owners (KROs) in resolving governance concerns or in matters related to new governance and regulatory requirements (excluding those within the remit of other enabling functions e.g. Compliance).
Risk Appetite: Communication of guideline documents on appetite, advice and support to the business in defining the level of risk appetite the Bank is prepared to accept, engage country management teams including the respective KROs on achieving specific appetite targets, support incorporation of agreed appetite levels into the MTP process, analyse performance against set appetite targets and report including continuous proactive process reviews to the improve control environment with a view to avoiding Expected Loss.
Support the Head of Risk to coordinate the Risk Appetite and Stress Testing for BBT, in close collaboration with the KROs.
Provide an efficient administration and support services to KROs to ensure effective governance over credit risk as per below:
Review the completion of the Risk Appetite once advised by Business and escalate and table breaches at relevant committees.
Review all Credit mandates, Delegated Authority (DA) and adherence to Credit mandate and Credit Policy.
Ensure that the respective Heads/RMs conduct site visits and review call reports. Also ensure that vendors and business partners SLA’s are complied with and reviewed annually.
Monitor Governance and Assurance Dashboard (For CIB) / Checklist (for Retail and Business Banking).
Circulate key Risk related regulatory and industry information to Head of Risk and Head of Businesses identifying potential impact on the entity.
Monitor regulatory and economic capital demand in line with changes in internal and external factors including changes in portfolios or prospective portfolio growth.

Accountability: Behavioural Competencies

Personal accountability

Independent in practice and in thought
Engaged with a visible level of presence
Appropriate level of inquisitiveness
Able to understand business model, strategy, process, products and systems, and influence change.
Confident to responsibly challenge on data or facts
Ability to manage conflicts
Influential (Able to influence outcomes and strategy decisions at the highest level
(CMC and Board)
Crisp and clear communicator, verbally and in writing
See the big picture, and can get into the detail where necessary
Focused without adopting a silo mentality
Risk and Control Objective
Ensure that all activities and duties are carried out in full compliance with regulatory requirements, Absa Operational Risk Framework and internal Absa Policies and Standards.
Manage risk and control effectively by applying applicable risk frameworks and embedding a positive risk culture
Understanding of own role in the end-to-end processes in which you play a part, including applicable risks and controls.
Adhere to Absa’s policies and procedures applicable to own role, demonstrating sound judgment and responsible risk management.
Report all risk events / incidents / issues using the defined process for your business area and help to understand why these happened and how to prevent them in future.
Proactively look for ways to improve the control environment by considering what could go wrong in the processes you operate and how errors could be prevented.
Continuous and proactive engagement with regulatory bodies, unions where applicable
All mandatory training completed to deadline.

Role / Person Specification

Education and Experience Required

Minimum B-degree in Risk Management, Economics, Accounting, Finance, Banking, or any equivalent qualifications
3 years Operational and Credit Risk environment experience
3 years’ experience as an Operational Risk Officer / Manager or Business Risk Officer
Knowledge & Skills: (Maximum of 6).
Knowledge of banking legislation
Knowledge of the risk environment, credit Risk and Operational Risk management
Competencies: (Maximum of 8 competencies).
Deciding and initiating action
Relating and networking
Persuading and influencing
Presenting and communicating
Applying expertise and technology
Analyzing
Adapting and responding to change
Leadership
Mental & Environmental Demands

Special work requirements:

Staying abreast with changes both internal and external environments
Most complex decision that can be taken without referral to the manager:
Decide on the most appropriate action to mitigate Operational Risk identified that needs immediate attention

Absa Purpose Behaviours & Values

Absa’s Values and Behaviors represent the set of standards which governs the actions of all of us who work for the bank and against which the performance of every one of us in Absa are being assessed and rewarded:

I drive high performance to achieve sustainable results
I’m obsessed with customer
I have an African heartbeat
I believe our people are our strengths

Bachelor`s Degrees and Advanced Diplomas: Business, Commerce and Management Studies (Required)

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