Senior Manager Enterprise Risk Management

Absa, a leading financial services provider with a significant presence throughout Africa, is seeking a Senior Manager for Enterprise Risk Management within its Private & Personal Banking (PPB) division. This pivotal role is integral to safeguarding the bank's future by meticulously managing its risk appetite and enhancing its capabilities in scenario and stress testing. The successful candidate will play a crucial part in ensuring the PPB division operates within defined risk parameters while adapting to an evolving financial landscape.

About the role

This senior position involves comprehensive oversight of risk appetite frameworks and robust stress testing methodologies within Absa's Private & Personal Banking unit. The Senior Manager will be instrumental in aligning risk management practices with the bank's overarching strategy and regulatory stipulations. The role demands a proactive approach to identifying, assessing, and mitigating potential vulnerabilities, providing expert guidance on data infrastructure, impairments, and the projection of key financial and risk metrics. It's a leadership opportunity that combines strategic thinking with practical execution, influencing the bank's resilience and long-term stability.

• **Risk Appetite Framework Management:** Take full ownership of the PPB Risk Appetite Framework, ensuring its ongoing relevance, alignment with Group strategy, and adherence to regulatory requirements. This includes defining and regularly reviewing risk appetite statements, metrics, thresholds, and limits across various risk types such as credit, operational, strategic, and insurance risks. You will be responsible for linking business strategy with financial plans and capital adequacy, particularly in areas like ICAAP (Internal Capital Adequacy Assessment Process) and recovery planning. Monitoring risk appetite utilisation, reporting on emerging risks and breaches to senior management, and driving corrective actions are key functions.
• **Data Architecture and Stress Testing Strategy:** Lead the development and maintenance of robust data strategies and frameworks for stress testing, ensuring strong governance and best practices are applied. This involves overseeing the Absa Group Limited (AGL) stress testing framework and embedding stress testing functions across all business units and risk types. You'll manage internal and external audit requirements related to stress testing data and execution, staying updated on regulatory developments like BCBS 450 principles.
• **Scenario Development, Execution, and Reporting:** Coordinate and collaborate on the impact assessment of scenario analysis and stress testing on different business units and risk types. Utilise Group macro-economic variables to support financial planning, IFRS (International Financial Reporting Standards) compliance, and recovery planning. Crucially, you will translate complex stress testing outputs into clear, actionable insights for presentation to executive committees and Board-level forums.
• **Stakeholder and Relationship Management:** Build and maintain strong relationships with internal and external stakeholders, providing expert advice on risk appetite, stress testing, and organisational resilience. You will ensure stakeholders are supported in meeting regulatory stress testing requirements and foster awareness of developments in scenario planning.

What they're looking for

Absa is seeking a highly skilled and experienced professional with a strong academic background and extensive practical experience in risk management within the financial sector.

• An Honours degree (NQF level 8) in a quantitative field such as Statistics, Mathematics, Actuarial Science, Finance, Accounting, Economics, or Quantitative Management.
• A minimum of ten years' experience in risk management or a related field, preferably gained within a top-tier investment bank.
• Demonstrated practical experience in applying analytics and modelling techniques to address complex business challenges.

This kind of senior risk management role within a major South African bank like Absa typically commands a competitive salary, reflecting the significant responsibility and specialist expertise required. Growth paths often involve progression to head of department roles, or broader enterprise risk management positions responsible for an entire region or division. Professionals in this field are highly valued across the financial services sector, with opportunities at other large banks, asset managers, and insurance providers.

Education and Experience

• Honours degree in Statistics, Mathematics, Actuarial Science, Finance, Accounting, Economics or Quantitative Management (NQF level no.8)

• 10+ years of experience in risk management or related field within a top tier investment bank
• Practical experience of using analytics / modelling to solve complex business problems

Education

Bachelor Honours Degree: Actuarial Science, Bachelor Honours Degree: BMI - Business Management and Informatics

Absa Bank Limited is an equal opportunity, affirmative action employer. In compliance with the Employment Equity Act 55 of 1998, preference will be given to suitable candidates from designated groups whose appointments will contribute towards achievement of equitable demographic representation of our workforce profile and add to the diversity of the Bank.

Absa Bank Limited reserves the right not to make an appointment to the post as advertised