Senior Manager: Integrated Financial Risk Assurance

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

Job Description

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.
The Integrated Financial Risk Assurance Senior Manager will be responsible for the identification, assessment, monitoring, and management of financial risks. This role will cover a broad range of financial risks, including Credit Risk, Treasury Risk, and Model Risk. The role will work closely with senior management, business operational teams, and regulatory bodies to ensure robust risk management frameworks are in place and adhered to across the organization. This role operates as part of the second line of defence, providing independent risk oversight and challenge to the first line of defence.

KEY RESULT AREAS ​

• Setting and overseeing the implementation of the financial risk policies and standards.
• Monitoring compliance with the relevant policies and standards.
• Monitoring the risk profile of financial risk across the business segment
• Report the risk profile of financial risk to the specific governance forums as part of the overall risk profile of the business segment
• Develop and maintain risk dashboards and reporting tools to provide clear insights into the segments financial risk profile.
• Collaborate with the first line of defence to ensure effective risk identification, measurement, and mitigation.
• Lead financial risk assessments and provide recommendations to enhance the segments financial risk management practices.
• Represent the risk function in e.g. audit engagements.
• Develop and implement frameworks for assessing and monitoring credit risk across the segments portfolios.
• Conduct independent reviews of credit risk models, stress testing, and scenario analysis.
• Provide oversight on credit risk policies, ensuring they align with regulatory standards and best practices.
• Monitor and report on credit exposures, concentrations, and emerging risks to senior management and the board.
• Oversee the management of liquidity, funding, and interest rate risks within the bank's treasury function.
• Review and challenge the bank's asset-liability management (ALM) strategies and practices.
• Monitor compliance with liquidity coverage ratio (LCR), net stable funding ratio (NSFR), and other regulatory metrics.
• Provide oversight on treasury risk policies and ensure alignment with the bank's risk appetite.
• Establish and maintain a robust model risk management framework, including model validation and governance.
• Oversee the development, implementation, and performance of all models within the bank
• Ensure compliance with regulatory requirements related to model risk management (e.g., Basel guidelines).
• Provide independent challenge to model assumptions, methodologies, and outputs.

ROLE REQUIREMENTS

• Credit Risk: Minimum 5 years of experience in credit risk management, ideally in retail banking, with a strong understanding of credit portfolios, lending products, and regulatory requirements.
• Treasury Risk: At least 3 to 5 years of experience in treasury risk management, including liquidity and interest rate/asset and liability risk management (ALM).
• Model Risk: Experience with the development, validation, and governance of financial risk models, including risk modelling software and techniques.

Skills

Analytical Thinking, Financial Acumen, Model Risk, Project Risk Management, Regulatory Compliance, Requirements Validation, Risk Management

Competencies

Education

NQF Level 9 – Masters: Finance And Management (Required)

Closing Date

21 May 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.

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