Specialist: Risk

Absa is seeking a dedicated Specialist in Risk to join their team in Johannesburg. This role is crucial for embedding robust risk management practices across the Transactional & Deposits division, ensuring alignment with the Absa Group Enterprise Risk Management (ERM) framework. The successful candidate will be instrumental in providing expert advice and support, fostering a culture of proactive risk identification, assessment, and mitigation.

About the Role

As a Specialist: Risk, you will be the go-to subject matter expert for various risk types, operating within the comprehensive Enterprise Risk Management Framework (ERMF). Your primary responsibility will involve designing, coordinating, and ensuring the effective implementation of risk management programmes. A key aspect of this will be identifying risk exposures at a granular process level and conducting thorough risk and control self-assessments (RCSA) to determine residual risks. These residual risks must then be effectively managed through appropriate internal control measures. You will be a vital link in providing management with precise and actionable risk information, enabling informed decision-making regarding internal controls.

The scope of this role is broad, encompassing several key areas of risk management and governance:

• **Risk Identification and Mitigation:** Facilitate the identification, assessment, and relevant mitigation of operational risks in line with the ERMF, ensuring consistency with the broader risk and control library. You will be responsible for ensuring that key risks and controls are identified, documented, and regularly assessed according to established standards like Critical Process Assessment (CPA) and Management Control Assessment (MCA). This includes identifying control gaps and proposing practical remedial actions.
• **Monitoring and Reporting:** Analyse and investigate the root causes of operational events and breakdowns, developing both long-term sustainable solutions and interim mitigating controls. You will also assist in developing and recommending Key Risk Indicators (KRIs) and ensuring that risk management systems are kept up-to-date with all Operational Risk Management Framework (ORMF) components, including risk events, issues, and actions. Monitoring internal and external environments for emerging risks, trends, and best practices, and reporting these to relevant stakeholders, will be a key duty.
• **Governance and Assurance:** Actively participate in governance structures by facilitating the review of business initiatives and proposals, including new products and amendments. You will contribute to the development of strategic and tactical responses to address identified risk exposures. Furthermore, you will manage relationships with internal audit, combined assurance, and compliance teams, driving the scope of audits and ensuring all findings are tracked to resolution. This includes managing the preparation of risk reports and ensuring data accuracy for various risk committees.

What They're Looking For

To excel in this role, candidates should possess a strong understanding of risk management principles and frameworks within the financial services sector. Experience with operational risk management, including RCSA, CPA, and MCA methodologies, is essential. The ability to analyse complex processes, identify control weaknesses, and recommend practical solutions is paramount.

Key requirements include:

• Proven experience in risk management, preferably within a banking or financial institution.
• Sound knowledge of Enterprise Risk Management frameworks (ERMF and ORMF).
• Demonstrated ability to facilitate risk assessments and control self-assessments.
• Experience in compiling risk reports and presenting findings to stakeholders.
• Strong analytical and problem-solving skills.
• Excellent communication and interpersonal skills, with the ability to engage effectively with various levels of management.
• A proactive and diligent approach to ensuring compliance with policies and regulations.

This role offers an opportunity to contribute significantly to Absa's risk management strategy in a dynamic environment.

In South Africa, specialist risk roles within large financial institutions like Absa typically command competitive salaries, often reflecting the level of expertise and responsibility involved. Career progression can lead to more senior risk management positions or specialised roles within compliance, internal audit, or governance functions.

Qualifications
Experience

• 3 – 5 years’ experience in risk/control environment within the Financial Services Industry is essential.
• Proactive, self-starter, able to show initiative and work with minimal guidance.
• Strong written and verbal communications skills, be able to write and present reports to Risk Committees
• The ability to work in a team is critical to success in this role.
• Computer proficiency: advanced Excel, Word and Power Point skills
• Capacity to work under pressure and meet deadlines.
• Solution-driven, passionate and energetic.
• Possess a strong sense of ownership and initiative.

Skills

• Strong emotional intelligence.
• Ability to work in teams across functional and support functions.
• Ability to communicate across different levels.
• Analytical.

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