Chief Risk Officer CIB Pan Africa

at  Absa Bank Limited

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
Accountable to the Absa Group Limited (AGL) Chief Risk Officer for the risk management of the CIB pan Africa business for Absa across all countries and international offices. The incumbent will support the Chief Executive Officer: Corporate and Investment Banking (CIB) for the risk management activities undertaken across CIB pan Africa and the International offices. This includes key participation in the respective Executive Committees including contributions towards functional and business strategy, operating model, business approach and people planning. The key purpose of this role is to ensure that the risk profile and performance is effectively managed in an integrated manner across the CIB business within and outside of South Africa, working in close co-ordination with the Country CRO’s, shared services and CIB business/product heads.
Job Description

Accountability: Risk Management

• Effectively challenge 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
• Determine the overall Risk Appetite and risk strategy and propose the same for approval to the respective committees
• Allocate and monitor the Enterprise-Wide Risk Profile in liaison with Business CEO’s and/or Country CEO’s, aligned with their approved strategy and ensure it is consistent with the overall approved Group Risk Appetite
• Manage and monitor the Enterprise-Wide Risk profile and ensure it is appropriate, well understood and controlled by all stakeholders
• Outline and implement an effective governance framework for all risks in line with regulatory requirements
• Fulfil all duties and responsibilities as defined in the King Report on Corporate Governance
• Ensure 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
• Establish 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
• Develop and maintain applicable standards and oversee risk and control in Critical Processes and Management Control Approach (MCA)
• Report to the Group Chief Risk Officer, and the Business Area Executive Committee (Business Area ExCo) and relevant committees, regulators and other stakeholders on the business area’s risk positions, adherence to Risk Appetite and control environment.
• Ensure the timely response and remediation of regulatory issues
• Implement Risk Measurement models and methodologies ensuring practices are in line with regulatory and accounting principles and standards

Accountability: Strategy Formulation and Execution

• Ensure an integrated and effective risk management framework is implemented and embedded in all the CIB business areas/countries
• Accountable for implementing efficient and effective governance of significant risks and related opportunities
• Align and collaborate at a strategic level with all other risk activities delivered in Absa
• Clear and constant feedback on progress and challenges within the business ensuring that the Chief Executive is kept informed at all times of current events and issues on the horizon

Accountability: People Management

• Build the capability and talent across the CIB risk function
• Provide clear direction on strategic goals, translating and prioritising them into business and performance measures
• Role model the Absa values and embed them through the function, enabling colleagues to operate and demonstrate the values at all times
• Review resource plans and ensure that resource allocation is in line with projected business plans and priorities
• Lead the CIB Risk function and build an environment to support talent management, development and mobility
• Build and deliver people plans that align to the respective business plans as well as the Absa Group Risk
• Function people plan. Ensure succession plans are in place for critical roles
• Drive and lead the diversity and inclusion (D&I) agenda across the function. Ensure all relevant D&I activity is conducted within the function and contribute to the Absa D&I strategy
• Ensure that the remuneration of the function is in line with industry benchmarking
• Leverage the Absa wide learning agenda to develop and grow the capabilities within the function

Accountability: Stakeholder Management

• Build and maintain effective relationships with Business/Functional Heads
• Ensure effective interaction with the CIB CEO and his/her ExCo
• Actively participate in external forums as a means to establish and maintain networks in the financial services industry. Keep abreast of Industry and Regulatory developments
• Ensure effective interaction with the Absa Group CRO and his/her ExCo
• Interface 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 the annual planning and review of MTP, STP and RAF budgets
• Manage the effective and efficient operation of the function in a manner consistent with the overall Risk Target Operating Model agreed by Group Risk ExCo.

Role/person specification

Preferred Education

• BSc Hons Degree, BCom Hons, MBA, Masters, CA or a related NQF Level 6 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 on a senior management level in a large corporate
• Experience at engagement 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 senior stakeholders
• Ability to build strong partnerships at senior levels.
• Strong networking skills.
• Awareness of cultural differences and varying legal/regulatory environments.
• Proven demonstration of communication skills at all levels within a large organisation.
• 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 a large number of staff to achieve the business objectives and goals. Many of these will not be direct reports and some staff may span across geographic borders which further raises the need for advanced levels of competency and excellent leadership experience.
• People management: ability to form and develop high performing teams with robust bench-strength. People development/management skills/orientation and team leadership
• Problem solving and decision-making: ability to quickly understand a situation and take decisive action that is bought into by stakeholders. Courageous to make tough calls
• Quality and Excellence: Commitment to quality, high standards and robust risk/control management. Proven ability to deliver service excellence, managing often conflicting priorities.
• Strong knowledge of Corporate and Investment banking and broad technical products skills and general commercial/industry awareness
• 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 advertise

Accountability: Risk Management

• Effectively challenge 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
• Determine the overall Risk Appetite and risk strategy and propose the same for approval to the respective committees
• Allocate and monitor the Enterprise-Wide Risk Profile in liaison with Business CEO’s and/or Country CEO’s, aligned with their approved strategy and ensure it is consistent with the overall approved Group Risk Appetite
• Manage and monitor the Enterprise-Wide Risk profile and ensure it is appropriate, well understood and controlled by all stakeholders
• Outline and implement an effective governance framework for all risks in line with regulatory requirements
• Fulfil all duties and responsibilities as defined in the King Report on Corporate Governance
• Ensure 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
• Establish 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
• Develop and maintain applicable standards and oversee risk and control in Critical Processes and Management Control Approach (MCA)
• Report to the Group Chief Risk Officer, and the Business Area Executive Committee (Business Area ExCo) and relevant committees, regulators and other stakeholders on the business area’s risk positions, adherence to Risk Appetite and control environment.
• Ensure the timely response and remediation of regulatory issues
• Implement Risk Measurement models and methodologies ensuring practices are in line with regulatory and accounting principles and standard

Accountability: Strategy Formulation and Execution

• Ensure an integrated and effective risk management framework is implemented and embedded in all the CIB business areas/countries
• Accountable for implementing efficient and effective governance of significant risks and related opportunities
• Align and collaborate at a strategic level with all other risk activities delivered in Absa
• Clear and constant feedback on progress and challenges within the business ensuring that the Chief Executive is kept informed at all times of current events and issues on the horizo

Accountability: People Management

• Build the capability and talent across the CIB risk function
• Provide clear direction on strategic goals, translating and prioritising them into business and performance measures
• Role model the Absa values and embed them through the function, enabling colleagues to operate and demonstrate the values at all times
• Review resource plans and ensure that resource allocation is in line with projected business plans and priorities
• Lead the CIB Risk function and build an environment to support talent management, development and mobility
• Build and deliver people plans that align to the respective business plans as well as the Absa Group Risk
• Function people plan. Ensure succession plans are in place for critical roles
• Drive and lead the diversity and inclusion (D&I) agenda across the function. Ensure all relevant D&I activity is conducted within the function and contribute to the Absa D&I strategy
• Ensure that the remuneration of the function is in line with industry benchmarking
• Leverage the Absa wide learning agenda to develop and grow the capabilities within the functio

Accountability: Stakeholder Management

• Build and maintain effective relationships with Business/Functional Heads
• Ensure effective interaction with the CIB CEO and his/her ExCo
• Actively participate in external forums as a means to establish and maintain networks in the financial services industry. Keep abreast of Industry and Regulatory developments
• Ensure effective interaction with the Absa Group CRO and his/her ExCo
• Interface 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 the annual planning and review of MTP, STP and RAF budgets
• Manage the effective and efficient operation of the function in a manner consistent with the overall Risk Target Operating Model agreed by Group Risk ExCo