Product Risk Specialist

PayInc is a purpose-driven payments provider building on over 50 years of trusted history in South Africas payments ecosystem. Our mission is to connect people businesses and economies through secure efficient and inclusive digital payments infrastructure and be a catalyst for financial inclusion and economic growth. From EFTs and cards to PayShap PayInc provides the backbone that enables money to move safely across the economy. At our core we exist to make great connections empowering participation enabling growth and ensuring no one is left behind.

PURPOSE
Drive sustainable business value for an organisation.
Manage Enterprise Risk Management (ERM) Business Continuity Management (BCM) and Short-Term Insurance (STI) practices (Operationally and Strategically).

Key stakeholders the Risk Specialist will engage with are:
Internal

• Exco
• Management
• Employees

External

• Regulatory Bodies (SARB)
• Associations (Banking Association South Africa)
• External service providers consultants certification bodies etc.

Your key responsibilities include:

• Contribute budget setting and annual business planning
• Manage and control individual and relevant intervention project and programme costs
• Manage the Risk Management budget activities
• Manages the risk champion structure Manage Training and awareness budget
• Develop and maintain good stakeholder relationships - internal and external (Domestic and/or Regional)
• Deliver on internal and external stakeholder requirements and business needs (Domestic and Regional)
• Contribute to and deliver on BU goals and activities aligned to strategy
• Demonstrate innovative thinking in area of expertise and translate this into business process/ solutions/working practice improvements
• Deliver client or company specific projects in line with company standards and in agreement with line manager
• End-to-end administration of the Insurance Policy cover for PayInc (Annual) whilst maintaining the stakeholder relationship between STI broker and PayInc
• Manage PayInc Business Interruption / Incidents
• Assist with the Combined Assurance approach as a member of the Combined Assurance Forum (CAF) in collaboration with other internal assurance providers.
• Manage the review amendment and approval of the Enterprise Risk Management (ERM) Policy ERM Framework and Risk Appetite (RAT) Framework
• Manage the distribution of the Enterprise Risk Management documents to staff through the PayInc communication platforms
• Develop and manage comprehensive risk management processes and monitoring systems to identify document communicate and implement appropriate mitigation strategies to mitigate key risks for PayInc as a National Payment Utility
• Develop and manage comprehensive risk management policy processes and monitoring systems to identify document communicate and implement appropriate strategies to mitigate key risks for PayInc in the capacity of Scheme Management (TCIB and PayShap)
• Develop implement and administer the enterprise risk management program holistically for Operator and Scheme
• Identify and monitor key risk indicators tolerances and trends and their correlation to the PayInc Corporate Scorecard and Strategic objectives
• Manage the development of the Strategic risks with the PayInc Board Board sub-Committees and Executive Management
• Conduct quarterly risk reviews as part of the Second Line of Assurance to independently assess the effectiveness of risk management practices and controls.
• Recommend measures to control or reduce risks within Business Units through second line of assurance oversight of the appointed Risk Champions per department
• Facilitate risk identification and analysis of potential risks which may impact the organisations success including independent enterprise-wide risk assessments aligned to business plan initiatives
• Facilitate the assessment of risks affecting business operations. Produce reports and presentations that outline findings clearly articulate risk positions and recommend appropriate actions or improvements
• Compile and support the delivery of Monthly Risk Management Reports for Executive and Senior Management and Quarterly risk management reports for the Board and Board sub-committees.
• Analyse new legislation in conjunction with relevant departments within the organisation to determine impact on risk exposure
• Maintain data in information systems or databases
• Appointed by Compliance as Business Owner / Data Steward and/or Data Privacy Champion in accordance with business need for Risk Management
• Maintain and manage all content (ERM BCM and STI) on IT-enabled platforms for Risk Management
• End-to-end support and coordination of the audit assurance process facilitated by Internal and/or External Audit.
• Approval and closure of the ERM Audit related findings
• Provide Business Continuity Planning documentation and training to all employees
• Manage the review amendment and approval of the Business Continuity Management (BCM) Policy Plan and Framework
• Manage the distribution of the BCM Policy BCM Frameworks and BCP document to staff through the PayInc communication platforms
• Prepare and deliver Business Continuity Management (BCM) presentations and reports to Executive and Senior Management and facilitate the implementation and close out of BCM improvement actions.
• Ensure preplanning for Business interruption is ongoing and sustainable and contingency plans are developed to deal with different organisational emergencies
• Maintain the Business Continuity Plan (BCP) incident register analyse incidents to identify trends and facilitate lessonslearned workshops to drive continuous improvement.
• Manages annual enhancement of the Business Continuity Plan
• Completes Crisis Management training and simulations with Crisis Management Team
• Develop maintain and regularly update the Business Continuity Plan (BCP) in line with the outcomes of the Business Impact Assessment (BIA)
• Perform bi-annual Business Continuity Management (BCM) Simulation tests of established Business Continuity Plans and procedures and provide detailed reporting on BCM findings and recommendations for improvements to Executives and Senior Management
• End-to-end support and coordination of the audit assurance process facilitated by Internal and/or External Audit.
• Approval and closure of BCM Audit related findings
• Direct liaison to the Operational Resilience Team
• Promote a positive Risk Management culture within the organisation
• Facilitate Risk Management Training and awareness throughout the organisation
• Responsible for the Induction of new employees including the design maintenance and delivery of Induction presentation training and awareness.
• Facilitate the communication of the nature opportunities and impact of key risks to stakeholders
• Preparation and presentation of Risk reports to Executive and Senior Management as well as Board and Board sub-committees.
• Facilitate annual Risk Management Maturity Assessment with the Internal Risk Management structure and report to the internal Risk Management Forum Senior Management Board and Board sub-Committees.
• Policies and procedures: Provide input into relevant policies and procedures
• Compliance: Comply with relevant policies & procedures regulation and legislation
• Risk: Identify assess mitigate monitor and report risks appropriately
• Mentor team members to ensure skills transfer and contribute to a positive team culture
• Ensure that both self and team stay abreast of emerging trends regulatory changes and developments in the payments risk landscape and broader industry.

QUALIFICATIONS / KNOWLEDGE

• Degree in Risk Management or Internal Auditing

EXPERIENCE

• 4 6 years experience in risk management product risk management and operational risks
• 3 years risk experience (Risk Champion Risk Co-ordinator Risk Specialist)
• Experience in Enterprise Risk Management Business Continuity Management and Short-Term Insurance
• Demonstrated experience in supporting product governance product change and product approval processes
• Experience operating within regulated financial services payments fintech or financial market infrastructure environments (preferred)
• Practical Experience:
  • Assessing operational technology resilience and third-party risks impacting products
  • Preparing and providing risk inputs for Executive Board and Board sub-committees
• Experience working within or in close collaboration with a Second Line of assurance - risk function is advantageous.

KNOWLEDGE

• Product Risk Knowledge
• Product Risk Management
• Understanding of the Payment Systems i.e. Low-value high-value
• Clearing and Settlement
• Microsoft Office Suite
• Application of ISO 31000 framework
• Application of Business Continuity Management practices for products
• Conducting Business Impact Assessment for products
• Risk management systems
• Combined Assurance
• Product lifecycle risk management (design change launch and decommissioning)
• Enterprise Risk Management (ERM) and second line oversight models
• Application of CPMI IOSCO PFMI

SKILLS AND ABILITIES

• Risk Assessment tools i.e. Process mapping SWOT analysis Risk Bow-tie assessments
• Strong oral and written communication skills
• Well-developed reporting and presentation skills
• Ability to communicate effectively with stakeholders at all levels
• Ability to deliver results on a timely basis
• Ability to manage multiple tasks and projects simultaneously including the ability to handle changing priorities
• Ability to learn quickly and establish relationships with key stakeholders