Junior Specialist: Risk

Absa, a financial institution with over a century of heritage and a significant presence across Africa, is seeking a Junior Specialist: Risk to join their team in Sandton. This role is crucial in supporting the implementation and embedding of risk and compliance frameworks within the business, ensuring adherence to both regulatory mandates and internal group requirements. The position offers an opportunity to contribute to the ongoing growth and stability of the organisation from within its risk and governance structures.

About the Role

The Junior Specialist: Risk will act as a key support function, providing first-line assistance to business units in their efforts to effectively manage risk and compliance. A significant part of the role involves building and nurturing relationships with internal stakeholders, particularly colleagues within the business, risk, and compliance departments. This collaborative approach is essential for the successful execution of day-to-day tasks and broader departmental objectives. The role also entails the management of various risk-related activities and the preparation of comprehensive reports tailored for relevant management forums and committees, all within stipulated deadlines.

The incumbent will be expected to ensure that all their activities align with regulatory mandates, the Enterprise Risk Management Framework (ERMF), Operational Risk frameworks, and all associated policies and standards. This includes actively supporting the business in adopting and integrating various risk and control assessment methodologies such as Risk and Control Self-Assessments (RCSAs), Critical Process Assessments (CPAs), and the Management Control Approach (MCA). Furthermore, the role encompasses the management of issues, fraud, combined assurance, risk events, key indicators, and dispensations, waivers, and breaches (DWBs).

A primary responsibility will be the diligent monitoring, measurement, and reporting of risk-related activities. This involves raising concerns, highlighting challenges, and escalating any identified risks or significant issues to the appropriate levels. You will also play a part in identifying, assessing, and documenting key risks, controls, and any control gaps that may exist, alongside developing remedial actions.

The Junior Specialist will support the team with governance-related matters, which may include providing administrative assistance for committee meetings. This can involve preparing minutes, tracking action items, and monitoring the progress of initiatives stemming from these meetings. A critical aspect of the role is the tracking and management of remedial actions to ensure their timely closure, thereby mitigating identified risks.

In terms of reporting and analysis, you will contribute to management reporting by presenting key concerns to monthly and quarterly risk committees, forums, and governance committees. Ensuring the accuracy and validity of reporting data within the Operational Risk Management System (ORMS) will be paramount. This involves ongoing engagement with business stakeholders to track and follow up on the remediation of identified issues.

Preparing and maintaining risk and compliance management information, including dashboards and trackers, for management and governance forums will be a regular task. Analysing risk data, trends, incidents, and emerging issues to support proactive risk management and timely escalation is also a key function. You will assist in the preparation of governance packs, committee submissions, and updates to the risk profile. Additionally, supporting the monitoring of risk appetite measures and key risk indicators is essential.

The role also involves providing administrative and technical support for governance forums, such as preparing agendas, documenting minutes, and managing action logs. Engaging with business units, Risk, Compliance, and other control functions will be necessary to facilitate the effective implementation of policies, standards, and regulatory requirements. Assisting with audit, assurance, and regulatory engagements by coordinating evidence and supporting management responses will further be part of your duties. Finally, you will support awareness, communication, and training initiatives related to risk and compliance processes.

What They're Looking For

Candidates for this position should possess a relevant diploma in Risk Management, Audit, Law, Commerce, or Management Studies. While experience within a financial institution, particularly in an investment and/or stockbroking environment, is preferred, it is not strictly essential. Demonstrable experience within a risk management environment is also highly advantageous. Proficiency with the ORMS system is considered a desirable asset.

Essential competencies include adaptability, strong planning and organisational skills, and the ability to cope effectively under pressure and setbacks. A proactive approach to learning and research, coupled with robust analytical and reporting skills, including data analytics and dashboard creation, is crucial. Excellent written and verbal communication skills are a must, as is a good command of the Microsoft Office suite.

Absa Bank Limited is committed to the Employment Equity Act 55 of 1998 and will give preference to suitably qualified candidates from designated groups to ensure equitable demographic representation within its workforce. The bank reserves the right not to make an appointment to the advertised post.

In South Africa, roles like this at large financial institutions typically form part of structured career paths. Junior risk and compliance professionals can expect to gain exposure to a wide range of financial risks and regulatory frameworks. With experience and further qualifications, growth into more senior specialist roles, management positions within risk departments, or even roles in compliance or internal audit are common career trajectories. Salaries for junior positions in Sandton's financial sector are generally competitive, reflecting the demanding nature of the industry and the specialised skills required.

Education and Experience Required

• Diplomas: Risk Management / Audit / Law / Commerce / Management Studies (Required)
• Experience in a Financial Institution in an investment and/or stockbroking business environment preferred.
• Experience in a Risk Environment preferred
• Proficiency in ORMS system preferred.

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Competencies:

• Adaptability
• Planning and organising
• Coping with pressure and setbacks
• Learning and researching
• Analysing data and reporting (including data analytics and dashboards)
• Strong written and communication skills.
• Proficiency in Microsoft Office suite

Education

Higher 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