Head Enterprise and Risk Management

Lets Write Africas Story Together!

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.

ROLE OVERVIEW:

The Head of Enterprise Risk Management (ERM) will be an executive in the Risk function reporting to the Chief Risk Officer (CRO) and will lead the development implementation and overseeing the banks Enterprise risk management (ERM) framework ensuring alignment with regulatory requirements industry Risk best practice and standards and the banks strategic objectives.

As the Head will have direct responsibility of Enterprise Risk Management and in line with the recent Directive for Prescribed Officers of a Bank this position may be subject to a BA020 Fit and Proper assessment by the Prudential Authority (PA).

ROLE RESPONSIBILITIES:

Enterprise Risk Management

• Provides guidance to the Bank CRO on overall vision and direction for ERM.
• Ensures alignment between the risk strategy and the strategic plan to facilitate implementation and promotion of a sound risk culture within the Bank.
• Oversees the development of an effective ERM framework that supports the achievement of the Banks overall goals & objectives.
• Ensure that the requirements of the ERMF and Policy Framework are implemented by the Risk Owners for all risks set out in the risk taxonomy and policies.
• Ensure that the risk processes of the Bank are implemented by the Risk Owners in the First Line and providing challenge on the effectiveness of the controls implemented by the Risk Owners and the Business Heads through the Risk and Control SelfAssessment (RCSA) process.

Risk Strategy Development

• Formulate and execute a comprehensive risk strategy that aligns with the banks overall business strategy
• Establish risk appetite statements thresholds and key risk indicators (KRIs) for different business lines
• Define and document the banks risk appetite and tolerance levels in collaboration with senior management and the board
• Drive integration of risk management within strategic decisionmaking processes
• Develop strategies and action plans to mitigate identified risks including preventive measures and contingency plans
• Engage with key stakeholders including senior management and regulatory bodies to communicate the risk strategy effectively
• Establish mechanisms for ongoing monitoring of risk exposure and the effectiveness of risk mitigation strategies
• Regularly review and update the risk strategy to reflect changes in the internal and external environment including emerging risks and regulatory updates

Governance and Regulatory Reporting

• Design and implement a comprehensive governance framework that outlines the roles responsibilities and processes for risk management within the bank
• Create review and update risk management policies and procedures to ensure alignment with regulatory requirements and industry best practices
• Stay informed about changes in regulatory requirements and assess their implications for the banks operations and risk management practice
• Coordinate regular compliance audits and assessments to evaluate adherence to internal policies and external regulations
• Support the efficient coordination of Principal risk related governance committees including Model Risk Committee (MRC) Risk Manco and Risk and Capital Management Committee.
• Lead the Combined Assurance reporting for the principal risks within in the Risk Strategy and Governance space
• Prepare and provide regular reports to stakeholders on risk performance governance metrics and compliance with risk policies
• Act as point of contact for regulatory bodies facilitating clear communication and addressing any inquiries or issues related to reporting
• Continuously monitor changes in regulatory frameworks and assess their impact on the banks reporting practices

Strategic stakeholder management

• Regularly engaging with senior management and the board through meetings and presentations to discuss risk management strategies and gather feedback
• Ensure clear and effective communication of risk policies governance frameworks and strategic initiatives to stakeholders
• Engage with regulatory bodies ensuring that their requirements and expectations are understood and met
• Promote crossdepartmental collaboration to ensure alignment on risk management objectives and initiatives
• Promote a culture of risk awareness and accountability among stakeholders at all levels of the organization
• Solicit feedback from stakeholders to improve risk management practices and governance structures

ICAAP/ILAAP and Stress Testing

• A key responsibility of this role will be to take ownership of the banks ICAAP (and if applicable ILAAP) processes. The Head will be responsible for the development and coordination of the Banks ICAAP/ILAAP and Resilience plans for approval by the Bank Board. In addition the Head will be responsible for the development of the Banks overall stress testing framework.

Enterprise Risk Processes

• Coordinate the risk appetite setting and review processes of the Bank for the risk function as part of the annual strategic planning process conducted by Finance. Assist with the preparation of the Board approval for the risk appetite of the Bank. Coordinate the preparation of the Banks Resilience Plan for approval by the Board.

Regulatory Compliance

• Ensure that risks managed by the Risk Owners comply with the requirements of the Banks Act and supporting regulations. Monitor changes to regulatory requirements and lead projects to implement new regulations. This includes reporting obligations and engagement with the regulator during onsite visits as required.

RDARR

• Drive compliance with Risk Data Aggregation and Risk Reporting across the bank.

Regulatory Engagement

• Build a strong relationship with the Regulators PA FSCA and NCR through prompt responses on regulatory requests and accurate regulatory reporting.

Risk Culture

• Be a role model and embed the Banks risk culture set out in the ERMF in all activities. Assist the CRO in evaluating the risk culture annually as per the requirements of the ERMF.

Emerging risk process

• Assist the CRO in the implementation of the emerging risk process through the identifications and treatment of emerging risks. Report on emerging risk as per the escalation process of the Bank to the CRO ERC and the Board

Governance

• Actively contribute and participate in the ERC to enhance overall corporate governance activities.

OML Group engagement

• Engage with Group Risk Owners to assist with risk alignment whilst maintaining Bank independence.
• Assists business to implement risk management systems in accordance with the approved ERM framework.
• Provides Advisory & line 2 oversight on key strategic programmes.
• Guides the business in improving organisational resilience and crisis management processes.
• General risk advisory to business on matters relating to reputational risk management.
• Risk appetite and ICAAP exercises to be subjected to scenario planning and stress testing that is aligned with the Banks business strategy.

Technology and Data

• Manage and control the implementation of the Operational Risk System and drive the development of automated reporting processes to enable the Banks digital first approach. Utilise risk analytical approaches in monitoring and report nonfinancial risks which have to be RDARR compliant.

Leadership

• Lead and mentor the Enterprise Risk Management function providing strategic direction and performance management. Participate in the Risk leadership team and provide productive input on strategy and approach.

Ongoing development

• Stay abreast with local and international developments in the field of Enterprise Risk Management.

Risk awareness and training

• Drive overall risk awareness and training initiatives pertaining to the ERMF Operational Risk and IT Risk as well as the training to enable the usage of the Operational Risk SaaS across First Line and Second Line.

Operational Risk Softwareasaservice (SaaS)

• Manage the Operational Risk SaaS in the capacity as the Service Owner to ensure that it enables the implementation and embedment of the Enterprise Risk processes enabled by the SaaS functionality. This includes ensuring of strong Data Governance infrastructure the need for rigid cybersecurity protocols and alignment with the Protection of Personal Information Act (POPIA) requirements.

EDUCATION:

• Chartered Accountant Masters in Finance FRM or related field.
• Experience with working with regulators such as the PA FSCA FinSurv.
• Experience with digital banking and/or native cloud digital first banking.
• At least 5 years experience with regulatory reporting (BA Returns).
• Minimum 1015 years banking experience.
• Indepth understanding of the South African banking regulatory environment and requirements (PA FCSA FinSurv FIC Information Regulator NCR and others).
• Experience with Capital Liquidity Credit Treasury Market Operational Risk and IT Risk oversight and associated regulatory reporting requirements.
• Proven leadership and team management experience.

Skills and Competencies:

• Strong strategic and analytical thinking.
• Excellent communication and stakeholder management abilities.
• Ability to influence senior leaders and drive risk initiatives.
• Strong knowledge of risk management tools and data analytics.
• High adaptability to technology and AI changes and ability to manage emerging risks such as pandemics supply disruptions etc.
• Ability to foster strong crossfunctional collaboration to ensure integrated risk management.

The Enterprise Risk Management (ERM) Head will be an executive in the Risk
function reporting to the Chief Risk Officer (CRO) and will lead the development
implementation and overseeing the Banks Enterprise Risk Management (ERM)
framework ensuring alignment with regulatory requirements industry risk best
practice and standards and the banks strategic objectives. This role operates
under and in alignment with the Directive for Prescribed Officers of a Bank this
position may be subject to a BA020 Fit and Proper assessment by the Prudential
Authority (PA). The role provides guidance to the Bank CRO on overall vision and
direction for ERM and ensures alignment between the risk strategy and the strategic
plan to facilitate implementation and promotion of a sound risk culture within the
Bank. The role will oversees the development of an effective ERM framework that
supports the achievement of the Banks overall goals & objectives and ensure that
the requirements of the ERMF and Policy Framework are implemented by the Risk
Owners for all risks set out in the risk taxonomy and policies. The role ensure that
the risk processes of the Bank are implemented by the Risk Owners in the First Line
and providing challenge on the effectiveness of the controls implemented by the
Risk Owners and the Business Heads through the Risk and Control SelfAssessment
(RCSA) process

Corporate Strategy Shaping STRATEGIC OR CORPORATE PLANNING STRATEGY AND POLICY DEVELOPMENT Participate in the development of corporate strategy for a 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 STRATEGIC OR CORPORATE PLANNING STRATEGY AND POLICY DEVELOPMENT Lead the development and implementation of strategy for a significant area of responsibility anticipating complex issues challenges and opportunities and ensuring integration with wider corporate strategy. SUCCESS PROFILE ENTERPRISE RISK MANAGEMENT HEAD BANK March 21 2025 Korn Ferry 2025. All rights reserved. Confidential. 4 Organizational Risk Management FINANCE AND ACCOUNTING RISK MANAGEMENT Take overall responsibility for designing developing and delivering the organizations risk management and/or risk control strategies. Risk Scenario Modeling FINANCE AND ACCOUNTING RISK MANAGEMENT Lead strategic risk modeling and scenario planning for businesscritical decisions to support business strategy and to identify and mitigate risk in line with the risk appetite. Advise on strategic modeling of risk scenarios to comply with the risk appetite. Strategy Formation and Implementation STRATEGIC OR CORPORATE PLANNING STRATEGY AND POLICY DEVELOPMENT Develop the strategy for a significant area of responsibility such as a function anticipating complex issues challenges and opportunities. Ensure the strategy is successfully implemented and meets mediumterm business needs. Corporate Representation CORPORATE AFFAIRS REGULATORY AND REGISTRATION 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. Represent the organization in external relations with investors clients industry partners the public and others. Focus is on a specific area of the organization such as a function or department. May involve preparation of presentations and materials for professional partnering meetings seminars and conferences. Information and Business Advice GENERAL ADVICE Provide authoritative specialist advice to the leadership team of a small or nationally based organization or subsidiary to guide the implementation of policy and the design and implementation of projects and change initiatives. Operational Compliance QUALITY ASSURANCE COMPLIANCE/AUDIT Lead the implementation of the organizations policies and procedures within a significant function to ensure compliance with relevant external regulatory and/or voluntary codes and with internal policies and procedures to minimize business risk and protect the organizations reputation. Foster a business culture that places value on the principles that underlie external regulation and the creation of voluntary codes of practice and on adherence to these. SUCCESS PROFILE ENTERPRISE RISK MANAGEMENT HEAD BANK March 21 2025 Korn Ferry 2025. All rights reserved. Confidential. 5 Leadership and Direction GENERAL LEADERSHIP AND SUPERVISION Communicate the functions strategy and its relationship to the organizations mission vision and values; clarify the actions needed to implement this strategy within the area of responsibility; motivate people to commit to the mission vision and values and do extraordinary things to achieve the organizations business goals. Stakeholder Engagement GENERAL COMMUNICATION/RELATIONSHIPS Identify and manage stakeholders up to and including top 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 CORPORATE AFFAIRS REGULATORY AND REGISTRATION Manage the provision of a strategic corporate social responsibility policy and services. Performance Management GENERAL LEADERSHIP AND SUPERVISION Manage and report on the performance of the function/business area; 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 HUMAN RESOURCES ORGANIZATIONAL DEVELOPMENT Define the detailed organization structure for a business area to align with corporate principles define the relationship between elements of the organization and define the responsibilities of senior managers to enable the organization to achieve its business objectives. Organizational Capability Building GENERAL LEADERSHIP AND SUPERVISION Identify the capabilities needed to meet the current and emerging business needs of a significant business area. Evaluate current capabilities identify gaps and prioritize development activities. Motivate others to develop their capabilities and fulfill their personal potential. Build capabilities elsewhere in the organization through mentoring and other informal methods

Skills

Competencies

Education

Closing Date

13 April 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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