Report to: Head of Litigation, Legal and Compliance
Purpose of the Role:
1. To support the Head of Risk, Legal and Compliance in the effective and proactive management of financial, operational and compliance risks within the entity aligned to the business strategy, operating model and the Enterprise Risk Management Framework (ERM). This includes partnership with the business units, risk stakeholders and Group Risk and Assurance to ensure that the processes for identifying, measuring, controlling and reporting of all risk risks is aligned to the ERM Framework.
2. To promote and sustain a culture of risk management discipline, anticipation and compliance within the country.
3. Continuously improve the risk processes with the intention of adding value to business whilst introducing practices that are fit for purpose in line with the Group requirements.
4. Provide financial and operational risk tools and training support where required.
5. Further, give guidance and encourage optimal risk awareness for the business.
1. Facilitate the alignment of the risk management process with Group Policies and appropriate regulatory frameworks.
2. Communicate the Enterprise Risk Management Framework, standards, methodologies and other risk principles effectively to the business i.e. Regulatory examination preparation and management, Credit, Liquidity and Interest Rate Management, Risk and Control Self Assessments (RCSA’s), Key Risk Indicators (KRI’s), Business Continuity Management (BCM), Compliance Risk Monitoring Plans, Anti-Money Laundering, Information Risk, and Risk Assurance.
3. Encourage a high level of awareness of all risks in the business including fraud prevention, interest rate risk, liquidity risk, credit risk, operational risk and compliance risk.
4. Provide a central point of reference and expertise in financial, operational and compliance risk matters to the business and support functions.
5. Facilitate RCSA’s workshops with business and support functions.
6. Assist in the analysis of information and reports to establish trends and consider initiatives to reduce risk.
7. Assist in the preparation of reports to Senior Management and the Board on risk management program.
8. Identify major risks affecting the business and take necessary steps to measure, monitor and control accordingly.
9. Review and evaluate internal controls and submit appropriate recommendations for any changes and/or enhancements.
10. Maintain a culture within the routine fulfilment and loss control areas that emphasizes and demonstrates to all the importance of internal controls.
Thinking Requirements and Working Complexity:
1) The ability to analyze and understand the business needs and strategies and then to interpret and convert these into operational, financial and compliance risk strategies.
2) The need to identify the long term operational, financial and compliance risk needs to support the business effort.
3) Has a practical comprehension of the impact of the service provided and relationship to staff and customer.
4) Has a sound recall of processes and previous experience in order to assist with problems raised.
5) The ability to meet tight deadlines and to satisfy customer service requirements in an environment laced with a wide variety of problems and unexpected challenges.
6) Required to interpret, analyse, evaluate and formulate plans based on information from a number of sources. Typically, there is no right answer and a relatively indeterminate amount of risk.
7) Take a short to medium term perspective with regard to business planning.
8) Build in the provision for adjustment in planning and ensures plans are practical and in line with business objectives.
9) Consider all the facts, options and possible outcomes prior to making decisions.
10) Quick to act upon potential opportunities and take the initiative within limits of authority.
Knowledge and Experience Required of Job Holder:
1. Minimum requirement of Bachelor Degree in banking and Finance or Degree in Risk Management or equivalent financial qualification. Master degree will be an added advantage.
2. Exposure to demanding operational, compliance and financial environments, ability to gain insight into the most effective risk and legal management applications and key points for leverage and influence
3. Minimum 3 years’ experience with relevant risk, compliance and/or operational risk management experience.
4. Knowledge of banking financial institution legislations.
Arising from the above, job holder will need to be willing and be able to speak on the topic of Risk Management at conferences and the like which will enhance both personal and institutional
Join any appropriate industry forums that will enhance job performance and understanding.
Multi-cultural awareness and the ability to interact with a wide range of differing levels and sectors of society, social and business, is an essential characteristic of the person holding this position.