CIB Credit Risk: Chief Operating Officer (P)

Absa is seeking a dynamic Chief Operating Officer (COO) to join its Corporate and Investment Banking (CIB) Credit division, based in Sandton. This pivotal role is instrumental in driving operational excellence and leading strategic transformations within the bank's credit risk management functions. As COO, you will be at the forefront of implementing advanced projects designed to bolster the bank's risk mitigation capabilities, encompassing the integration of new technologies, the refinement of operational processes, and the fostering of positive cultural shifts across the department.

The position demands a leader who can effectively collaborate with all risk-related departments, ensuring a unified approach towards achieving the business unit's strategic goals. A key aspect of this role involves cultivating an environment that prioritises continuous improvement and a strong, pervasive awareness of risk.

Strategic Leadership and Transformation

At the core of this role is the responsibility for spearheading and executing significant change initiatives within the Credit function. This involves identifying and capitalising on opportunities for innovation, particularly in the areas of risk management processes and systems. A substantial part of the COO's mandate will be to oversee the successful implementation of new technological solutions, such as automation, artificial intelligence, and sophisticated data analytics tools. Crucially, the COO will manage the change management aspects of these implementations, ensuring that new processes and technologies are seamlessly adopted and embraced across the entire risk function.

Operational Efficiency and Financial Stewardship

Beyond strategic initiatives, the COO will also focus on enhancing the day-to-day operational efficiency of the Credit function. This includes a thorough analysis of existing processes to pinpoint inefficiencies and areas ripe for improvement. The role requires the implementation of industry best practices and the standardisation of processes to ensure consistency and effectiveness across the board. Monitoring key performance indicators for operational activities will be essential, driving initiatives to boost both efficiency and overall effectiveness. Furthermore, the COO will be accountable for the financial health of the Credit function, overseeing financial planning, budgeting, and cost management. This involves developing and meticulously monitoring budgets to ensure the optimal allocation of resources and collaborating closely with finance teams to align departmental budgets with the bank's broader financial strategy, all while pursuing cost-saving measures that do not compromise the integrity of risk management.

Technology, Business Management, and Culture

A significant focus will be placed on the adoption and integration of cutting-edge technologies to elevate the bank's risk management capabilities. This necessitates close collaboration with IT and data science teams to deploy and manage robust risk management systems and tools. The COO must ensure that all technology-driven initiatives directly support strategic objectives and demonstrably improve risk processes. Promoting the application of data analytics, automation, and artificial intelligence within the Credit function will be a key driver of progress.

In addition to technological advancements, the COO will manage critical business administration functions, including planning, reporting, and governance processes, ensuring strict adherence to organisational policies and regulatory requirements. Vendor relationships and procurement processes relevant to the risk function will also fall under this remit.

Finally, the COO is tasked with championing a positive and robust risk culture that aligns with Absa's core values and strategic ambitions. This involves working collaboratively to embed a strong risk-aware mindset throughout the Credit function and leading initiatives that foster cultural change, boost employee engagement, and promote an environment conducive to innovation, collaboration, and continuous professional development.

To be considered for this role, candidates will ideally possess a BCom Honours in Accounting or an equivalent qualification, coupled with 10-15 years of relevant experience within the financial services industry, preferably in a banking environment.

Roles at this senior level within South African financial institutions often involve significant remuneration packages, reflective of the responsibility and expertise required. Such positions are typically found within the larger banking groups, asset management firms, and other financial services providers, offering substantial career growth trajectories into executive leadership positions.

 

Education and experience required

• BCom Hons Accounting or equivalent
• 10-15 years experience in a similar role within the financial industry, preferably in banking

Education

Bachelor`s Degrees and Advanced Diplomas: Business, Commerce and Management Studies (Required)

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