Non-Financial Risk Specialist, Transaction Banking, CIB

The role of a Non-Financial Risk Specialist within Transaction Banking in Corporate and Investment Banking (CIB) presents an exciting opportunity to shape and implement robust risk management strategies. This position is crucial for ensuring that operational risks are effectively identified, assessed, and mitigated, thereby supporting the achievement of critical business objectives. The incumbent will act as a vital partner to the business, equipping teams with the necessary frameworks and tools to proactively manage and reduce the potential financial, reputational, and regulatory impacts arising from operational risk events.

This position demands a forward-thinking approach, requiring an understanding of external market drivers and how current and future systems, processes, products, and strategic initiatives might influence the business's risk profile. A key responsibility will be to guide decision-making processes concerning the implementation of controls designed to manage and mitigate these identified risks, fostering a strong risk-aware culture throughout the organisation.

About the Role

The core function of this role is to champion, execute, and embed operational risk management processes and frameworks. This involves a hands-on approach to ensuring that risk management is not merely a compliance exercise but a fundamental enabler of business success. You will be instrumental in driving thought leadership in the Non-Financial Risk (NFR) domain within South Africa, ensuring alignment with both internal policies and external regulatory expectations. Building trust and credibility as a risk management business partner will be paramount, fostering collaborative relationships across various business units within Transaction Banking. This partnership is essential for equipping business stakeholders with the practical tools and insights needed to navigate the complexities of operational risk.

The Non-Financial Risk Specialist will be responsible for a range of critical activities designed to strengthen the organisation's risk posture. These include:

• Driving the implementation and execution of the Group Risk Management Framework and related policies within the Transaction Banking division.
• Conducting comprehensive risk assessments to identify potential threats and vulnerabilities across processes, systems, and products.
• Developing and monitoring Key Risk Indicators (KRIs) to provide early warnings of escalating risks.
• Managing the incident management process, ensuring timely reporting, root cause analysis, and the implementation of remedial actions to prevent recurrence.
• Contributing to business continuity planning and testing to ensure operational resilience in the face of disruptive events.
• Ensuring that the business operates within its defined risk appetite by actively engaging with stakeholders on risk responses and process improvement initiatives.
• Providing expert advice and guidance on risk management best practices, leveraging established standards and frameworks.
• Assisting in the evaluation of the effectiveness of existing controls and recommending enhancements where necessary.
• Staying abreast of emerging risks and regulatory changes that could impact the CIB business.

What They're Looking For

To excel in this role, candidates will need a combination of formal qualifications, practical experience, and strong behavioural competencies. Essential requirements include:

• A relevant tertiary qualification, such as a Degree in Risk Management, Business Commerce, or Finance and Accounting.
• Professional affiliation or membership with the Institute of Risk Management of South Africa (IRMSA) or a similar recognised risk certification would be advantageous.
• A minimum of three to five years of demonstrable experience in Non-Financial (Operational) Risk Management.
• Proven experience in implementing and overseeing the execution of group risk management frameworks, ideally incorporating best practice risk management standards.
• Proficiency in utilising standard risk management tools, including risk assessments, KRIs, assurance activities, incident management, and business continuity planning.
• A solid understanding of risk appetite, risk response strategies, and process improvement concepts.
• Familiarity with the characteristics of both non-financial and financial reporting risks.
• Previous experience within the financial services sector, particularly in banking, would be considered a significant asset.

Beyond technical skills, the ideal candidate will possess strong behavioural competencies such as the ability to articulate information clearly, challenge ideas constructively, convince stakeholders, direct people effectively, and embrace change. They should be adept at examining information, exploring possibilities, generating innovative solutions, making sound decisions, providing insightful analysis, and resolving conflicts while consistently upholding high professional standards.

In South Africa, roles in non-financial risk management within the banking sector are critical and typically offer competitive remuneration reflecting the specialised skills and responsibilities involved. Experience in this field can lead to career progression into more senior risk management positions, control functions, or operational leadership roles within financial institutions.

Type of Qualification: Degree

Field of Study: Risk Management / Business Commerce / Finance and Accounting

Other Minimum Qualifications, Certifications or Professional Membership:  Institute Of Risk Management of South Africa (IRMSA) or other related risk certifications or membership

Experience Required

3-5 years experience in Non-Financial (Operational) Risk Management, specifically, in relation to the implementation and execution oversight of Group Risk Management Framework whilst leveraging best practice (Risk Management Standards and Frameworks).  Proficient execution of the risk management tools such as risk assessments, key risk indicators, assurance, incident management and business continuity to enable the achievement of business objectives. Fully conversant in risk appetite, risk response & process improvement concepts. Understand both non-financial risk and financial reporting risk characteristics. Experience within the financial services industry (Banking) is advantageous.

Behavioural Competencies:

• Articulating Information
• Challenging Ideas
• Convincing People
• Directing People
• Embracing Change
• Examining Information
• Exploring Possibilities
• Generating Ideas
• Making Decisions
• Providing Insights
• Resolving Conflict
• Upholding Standards

Technical Competencies:

• Risk Analysing
• Economic Capital Management
• Evaluating Risk Management Effectiveness
• Risk Identification
• Risk Measurement
• Risk Reporting
• Risk Response Strategy
• Risk/ Reward Thinking