Manager: IT and Operational Risk

Let's Write Africa's Story Together!

Old Mutual is a firm believer in the African opportunity and our diverse talent reflects this.

Job Description

ROLE OVERVIEW

At OM Bank, we strive to attract great people who are passionate about coming together for a higher purpose- building something unique and aspirational, always aiming to be the best they can be. We are rooted in our purpose of inspiring and enabling our customers to grow and sustain their prosperity.

KEY RESULT AREAS

This role forms part of the Line 2 IT and Operational Risk team within the Non- Financial Risk team of OM Bank.

IT Risk: Areas of focus include: Security/Cybersecurity, Strategic Programs, IT Control Environment, Core systems and processes, AI, Digital & Data, Resilience and Cloud. Engagement with The Office of the CISO and other key IT Stakeholders is required to ensure alignment and tracking of progress across key IT and Operational risks.

Operational risk: Areas of focus include: execution risk, product risk, people risk, fraud risk, legal risk, financial reporting and tax risk, physical security risk, third party risk, data risk and operational resilience, strategic and reputational risk.

Engagement with key Stakeholders is required to ensure alignment and tracking of progress across key Operational risks. There may be Line Management responsibility for Risk Officers. Collaboration with the other Risk teams is crucial, and a working knowledge of processes in banking will be required. A strong understanding of regulations related to a Banking environment is also required.

ROLE REQUIREMENTS

Reporting

• Provide input into the CRO, ERC and BRC reports on key IT and Operational risks.
• Provide relevant expertise and input when completing regulatory report submissions.
• Provide reporting and insights at forums such as IT Excos, Risk committees etc.
• Support reporting processes across the IT and Operational Risk team.
• Support with alignment of reporting between the Line 1 and Line 2 Risk teams.

Risk Management

• Drives the communication and implementation of risk management requirements and standards, and actively promotes embedding of a strong risk culture.
• Supports the teams to measure, monitor, manage and report on material risks within their functional area of responsibility.
• Can support management to identify suitable mitigating actions to address key risks.
• Supports management with the policy adoption, roll out and compliance.
• Can successfully collaborate with all levels of stakeholders to ensure strong risk management practices.
• Provides objective oversight, monitors and reports on the maintenance of prescribed minimum standards in the Bank risk management methodologies, processes and data requirements, and initiates appropriate corrective action as may be required.
• Takes a proactive, forward-looking approach to providing risk oversight, considering the full risk profile of the business/segment, emerging risks, business plans and external factors.

Stakeholder Management

• Collaborates strongly with  Management/Executive teams to ensure risks are managed appropriately.
• Provides support to the Line 1 risk owners, controls owners, risk indicator owners, management action owners and risk coordinators, so they are enabled to fulfil their risk management responsibilities.
• Provides input into the annual review of risk profiles for the bank.
• Strong collaboration is required with all Risk CoEs and other Assurance providers.
• Can challenge in senior forums such as Management committees and Steercoms.

Team Effectiveness

• Balances own priorities with directing and motivating others.
• Creates a climate for optimal performance.
• Guides and directs staff to achieve operational excellence standards.
• Manages performance.
• Plans and assigns work over periods of 1-2 years.
• Selects potential staff to sustain customer/client service delivery.

QUALIFICATIONS AND EXPERIENCE

• Strong understanding of Standardised Measurement Approach to Operational Risk in terms of Basel III.
• Degree and/or post-graduate qualification in risk mgt/internal audit/commerce or equivalent. 
• Relevant IT qualifications/certifications in Risk Management and Cloud, or similar.
• Experience on large programs and enterprise-wide changes.
• At least 10 years' experience in risk management, internal audit, operations, or similar fields, with a focus on management of IT/Operational risks.
• Significant experience at providing assurance or risk management in a Banking environment.
• Experience in working across a value chain is essential.
• Experience in managing IT Risk, especially Cyber Security Risk in a banking environment.
• Solid Planning, Integration and Execution skills.
• Strong stakeholder management skills across all levels.
• Strong leadership skills, including coaching and mentoring.
• Solid Line1 IT and or Operational experience is advantageous.
• Excellent written and verbal communication skills, especially presentation skills.
• Solid integration and analysis skills.

Competencies

• Customer First
• Execution
• Collaboration (Relating)
• Innovation (Perspective)
• Leading with Influence
• Personal Mastery (Learning)
• Strategic

This role is responsible for facilitating, co-ordinating and overseeing the implementation of the OMEM risk strategy and enterprise risk management disciplines within a large and/or complex area of business, and also monitors, escalates and reports material risks, events and issues to the OMEM Risk and Actuarial Director, Chief Risk Officer or designate, with the primary objectives of contributing to the overall success and achievement of the business objectives. The incumbent is individually accountable for achieving results through staff supervised over periods of up to 3 years.

ResponsibilitiesRisk Scenario Modeling

Undertake strategic and tactical risk modeling and scenario planning to support business strategy and to identify and mitigate risk in line with the risk appetite. Advise on operationalizing risk appetite.

Strategy Formation and Implementation

Develop tactical plans for optimizing resources and assets being managed within a significant area or department.

Corporate Representation

Represent the organization or institution in a variety of industry, institutional, and/or professional forums, boards, and committees, in order to promote the company or institution brand or efforts. Focus is on a specific smaller area of the organization, such as a sub-function or division. May involve preparation of presentations and materials for professional partnering meetings, seminars, and conferences.

Information and Business Advice

Provide authoritative specialist advice to senior managers at the business unit or regional level to enable the implementation of policy, projects, and change initiatives.

Leadership and Direction

Identify and communicate the actions needed to implement the function's strategy and business plan within the business area or department; explain the relationship to the broader organization's mission, vision, and values; motivate people to commit to these tenets and do extraordinary things to achieve local business goals.

Stakeholder Engagement

Identify and manage stakeholders up to and including management level, finding out their needs, issues, and concerns and reacting to them by leading and coordinating the development of stakeholder engagement plans to support the communication of business information and decisions.

Corporate Social Responsibility/Integrity

Manage the provision of a significant corporate social responsibility service specialty.

Performance Management

Manage and report on performance within the department or area of responsibility; set appropriate performance objectives for direct reports and hold individuals accountable for achieving them; take appropriate corrective action where necessary to ensure the achievement of annual business objectives.

Organization Structure

Contribute to the definition of organization structure by recommending reporting lines, identifying interfaces between elements of the organization, and proposing roles and responsibilities, to align with the corporate structure and organization principles.

Organizational Capability Building

Evaluate the capabilities of staff within the department to identify gaps and prioritize development activities. Implement the organization's formal development frameworks within the area of responsibility. Coach and mentor others to support the development of the organization's talent pool.

Corporate Strategy Shaping

Participate in the development of corporate strategy for a small local organization, applying functional expertise to test the viability of the strategy and contributing creative ideas and insights to support the strategy formation process.

Functional Strategy Formation

Lead the development and implementation of strategy for an important area of responsibility within a function, anticipating complex issues, challenges, and opportunities and ensuring integration with wider functional strategy.

Organizational Risk Management

Manage a significant portion of the organization's risk management and/or risk control processes. This includes contributing to the development and implementation of risk management policies and procedures.

Skills

Adaptive Thinking, Business Requirements Analysis, Change Management, Current State Assessment, Data Compilation, Executing Plans, Oral Communications, Policies & Procedures, Policy Development, Presenting Solutions, Professional Presentation, Strategic Planning

Competencies

Builds Effective TeamsBuilds NetworksBusiness InsightCollaboratesCommunicates EffectivelyCustomer FocusEnsures AccountabilityFinancial Acumen

Education

NQF Level 9 – Masters

Closing Date

20 March 2025 , 23:59

The appointment will be made from the designated group in line with the Employment Equity Plan of Old Mutual South Africa and the specific business unit in question.

The Old Mutual Story!