Head – Operational Risk Management (Risk Event Management)
As a member of the AGL Operational Risk Management Committee you will be accountable to the AGL Principal Risk Officer for the development, implementation and assurance of the operational risk recovery value chain by establishing and maintaining the relevant frameworks, policies, standards and oversight under which businesses and functions within AGL must manage their operational risk profiles. Additionally provide independent and objective end-to-end Operational Risk oversight for defined AGL Enterprise Functions in line with the Enterprise Risk Management Framework and Operational Risk Management Framework.
What you will get to do:
Operational Risk Management:
- Establish and maintain the policies and standards, as required by the Operational Risk Management Framework (ORMF), to enable effective management of operational risk by the AGL businesses and functions
- Provide guidance, challenge and advice to the AGL PRO to support the recommendation of the enterprise-wide operational risk strategy, approach and risk appetite to the AGL CRO
- Develop and promote, in collaboration across the three lines of defence, an effective and efficient methodology/working model for the assurance and conformance review of operational risk practices against the framework, policy and standard requirements.
- As an Operational Risk Subject Matter Expert:
- Enable the delivery of the end-to-end operational risk infrastructure in line with the ORMF;
- Define and enable delivery of training across the enterprise;
- Provide advisory services across the enterprise;
- Undertake and socialize research on operational risk trends and forthcoming developments across the enterprise;
- Act as industry liaison in support of operational risk matters;
- Provide thought leadership into the development of the Group’s Operational Risk strategy and approach and
- Assist leadership to drive a transformational agenda to continuously improve the efficiency of operational risk processes in line with market, business or regulatory developments.
- Develop, where required, enterprise functions risk standards in line with the Operational Risk Management Framework and Risk Policies.
- Provide guidance, challenge and advice to the PRO: Operational Risk, PRO: Resilience Risk and PRO: Conduct Risk to support the recommendation of the enterprise functions operational risk strategy, approach and risk appetite to the AGL CRO.
- As an independent 2LOD provide constructive challenge, feedback or advice to the enterprise functions on its operational risk profile including:
- Risk and Control Assessments
- Control procedures
- Risk Events
- Progress on remediation of control weaknesses
- Risk weighted assets and capital distribution
- Emerging risks
- Develop and promote, in collaboration across the three lines of defence, an effective and efficient methodology/working model for the assurance and conformance review of operational risk practices of the enterprise functions against the framework, policy and standard requirements.
Stakeholder Communication and Liaison:
- Establish and maintain a coherent operating rhythm across the value chain (i.e. intra-risk, across AGL and 3rd parties) in support of the functional objectives.
- Enable delivery of the update to the Risk Leadership with operational performance metrics, project implementation statuses and key matters arising; escalating material issues identified indicating the level of severity and associated risks.
- Where applicable engage vendors to address current and future needs in addition to delivery/performance metrics.
- Participate in key risk management committees, in conjunction with the PRO: Operational Risk, PRO: Resilience Risk and PRO: Conduct Risk across the Group representing the portfolio and provide challenge, thought-leadership and direction on other AGL portfolios.
People and Organisation:
Direct resources in the most effective and efficient manner to execute the Function’s Plan, including:
- Enabling delivery of a supporting Risk Culture to deliver performance consistent with the Group’s Purpose and Values;
- Direct involvement in all appointments and setting competencies for the roles;
- Defining personal scorecard objectives and measures for employees that align to the Function’s Plan and Absa Scorecard;
- Input to enable the design of remuneration structures that are appropriately aligned with Group’s Purpose, Culture and Policies;
- Directing performance objectives and remuneration structures for the team designed to achieve a balance between risk, individual reward and the long term objectives of the Group;
- Input to, coordination and support of the performance management process of employees;
- Participation in the talent development and succession plans;
- Management of an Operational Budget that supports delivery of the appropriate capabilities in pursuit of the Function’s Plan and
- Assistance with the coordination and management of change programs geared towards Operational Risk or, on behalf of the Group Risk Exco towards the Group efforts of their staff members.
Education and Experience required to get in:
- B Honours Degree in Commerce, Banking or CA (SA)
- 10 years’ experience in a senior operations or process type role, with a risk approach.
- Experience in dealing with financial services regulators and relevant governance committees.
- World class operational risk management skills
- Interpreting and practicing integrated operational risk management
- Individual operational risk practices
- Financial objectives (value creation and cost reduction)
- Leading edge operational risk systems
- Present to Board and Board Committees
- Demonstrate objectivity, integrity, and independence
- Commercially astute, numerate and analytical
- Builds excellent relationships with business
- Acts as a main contact point for the business
- Build a team attracting world class talent
- Strong and positive impression on others
- Ability to inspire and drive high performance
- Commands the respect of the team