Operational Risk Specialist
Listing reference: vwfs_000006
Listing status: Closed
Apply by: 23 October 2021
Position summary
Industry: Financial Services
Job category: Other: Banking, Finance, Insurance, Stockbroking
Location: Sandton
Contract: Fixed Term Contract
Remuneration: Market-related
EE position: No
Introduction
The Operational Risk Specialist is responsible for ensuring that risk management programmes are designed to identify risk exposures at a process level & to perform a risk assessment to determine the residual risk. The role involves effective implementation of risk assessment programmes so that management can be provided with accurate risk information for effective decision-making on internal controls.
Job description
Role Outputs:
· Identifies and escalates potential risks that may lead to increased costs.
· Serve as a subject matter expert and consult with stakeholders, including Audit, when required.
· Escalates identified risks and queries when necessary and provides support to Management on handling escalations.
· Participates in Operational Risk policy development and oversees the implementation of Operational Risk Frameworks and Policies.
· Identifies and manages internal and external Operational Risks for the Business.
· Provides Operational Risk oversight and input into Business Strategy and advises / consults with Business on Operational Risk.
· Supports audit processes and ensures that Business successfully resolves identified issues.
· Ensures that a strong Risk Culture is built and maintained, via the implementation or enhancement of various business processes.
· Develops and conducts Risk Training and Awareness in consultation with L&D.
· Maintains a clear understanding of Business Systems to ensure appropriate Operational Risk Management.
· Provides Risk input into Business processes and projects.
· Compiles, maintains, and remains accountable for Risk Registers and repository for Business.
· Investigates and analyses losses, incidences and near misses, and assists Business with Risk and Control Assessment and Risk Mitigation.
· Quantifies Risk and consults with business on quantification processes to ensure accuracy.
· Provides Operational Risk reporting to Business.
· Assists business in the formation of and monitoring of effective Key Risk Indicators that serve as critical predictors of unfavourable events.
· Build professional long-term relationships with customers based on trust that builds the brand.
· Collect and interrogate information and feedback to ensure full understanding of customer needs to deliver a quality service.
· Engages relevant stakeholders to ensure that objectives and deliverables are met.
· Deliver customer experience excellence aligned to Organisational values and service standards.
· Promotes teamwork and inclusivity amongst team members and demonstrates behaviours that respect diversity. Partners and collaborates with team members to achieve team success. Shares information and knowledge that benefits the team.
Employment Equity Statement
VWFS SA is an equal opportunity employer and is committed to our policy on Employment Equity. Please note all applications will be evaluated in line with the Employment Equity Plan
Declaration of Interest
Please note that any declaration will not influence your chance of successful employment unless a conflict of interest is identified that has a direct impact to the role functions or outputs. Furthermore, please be aware that you may be required to declare all of your interests prior to employment.
Minimum requirements
Qualification:
· Bachelor of Commerce with Compliance / Risk or relevant Risk-related qualification
Experience:
· 3 – 5 years of Risk Management experience, preferably in the Financial Services industry