Head of Risk at Letshego MFB

Reports to: Country CEO
Job type: Permanent
Expected Start Date: 1st January, 2017
Job summary:

• To promote and sustain a culture of risk management discipline, anticipation and compliance within the country;
• To ensure that there are effective standards and internal controls, policies and procedures, systems and a risk management framework that supports business sustainability and continuity as well as ensuring compliance with various banking and regulatory policies;
• To anticipate and proactively ensure management of all potential risks, including market, credit, operations, information security, regulatory compliance and reputation risks and to initiate actions to pre-empt systemic risks; and
• To represent the risk and assurance function to external stakeholders such as regulators and investors as well as to the Board

Key Accountabilities:

• Lead and direct the Risk & Assurance function, as a partner to the business, supporting growth aspirations whilst retaining the appropriate risk management and compliance discipline to achieve strategic goals.
• Ensure that Risk Management Framework is adopted and effectively applied across all departments of the bank;
• Implement the Operational Risk Policy Framework and ensure that the operational risk governance structures are fully functional;
• Identify and understand the main operational risks in the business, monitor the actual level of operational risk on a regular basis and play a preventative role in risk control
• Embed a culture of consciousness and transparency for risk management and ensure that the nature and size of risks are well understood by all staff
• Implement the Businesses compliance and AML / CFT policy in line with local regulatory requirements
• Maintain relationship with both internal and relevant key stake holders
• Manage risk on a day to day basis which includes monitoring and reporting. This should include measures and procedures for:- understanding key processes, risk identification, risk analysis and assessment responding to risks identified and assessed adequate information and communication and monitoring of risk management activities
• Embed operational risk practices into business activities and support it with appropriate training and awareness
• Ensure that training and development on Risk Management is offered to staff on a regular basis
• Develop a business continuity strategy in order to ensure effective risk mitigation and business continuity
• Ensure that risk and process issues identified in the business units are reported and monitored and where necessary escalated to relevant person(s) and Committee(s) and corrective action is taken
• Liaise, guide and coach all levels within the business on risk and process issues
• Provide expert advice, share best-practice / risk mitigation techniques with management to enable them to pro-actively manage the risk within their units;
• Facilitate and provide adequate support to the Principle Risk owners for the monthly key risk indicators (KRI) process
• Ensure the development and execution of internal control plans outlining annual testing based on risk assessments (e.g. Risk and Control Self-Assessment), internal/external audit and regulatory reports
• Assess new products, procedures and procedural changes to identify potential operational risks and suggests mitigation plans.
• Monitor the banks insurance cover by way of review of the insurance return to ensure assets are adequately protected against losses.
• Maintain cost disciplines, rationalise and consolidate risk expense.

Education and/or Experience Required

• Minimum requirement of a Bachelor degree in Risk Management or equivalent financial qualification
• Exposure to demanding operational environments, ability to gain insight into the most effective risk management applications and key points for leverage and influence
• Minimum 7 years’ experience with relevant risk, compliance (AML & CFT) and/or process management experience.

Remuneration:
Attractive pay, productivity bonus, medical benefits and generous pension scheme, as well as an exciting culture - Let’s improve life!