Operational Risk Manager

Operational Risk Manager – RMB - Rand Merchant Bank

Job Description

Hello Future Operational Risk Manager,

RMB is a place where exceptional people create their own opportunities by challenging the conventional and driving sustainable impact.

United by our proud heritage, strong ethics and philosophy of Traditional values, innovative ideas, it’s the magic of our people and culture that sets us apart.

Now is the time to imagine your next move with South Africa’s number one employer in Financial Services for 2025, where you can embrace the power of collective thinking to unlock unique opportunities for our clients and society.

In this role, you will be required to provide clear direction to the business units on Operational Risk, key focus areas and provide relevant coaching, guidance, and training to the businesses on the implementation and maintenance of the Operational Risk framework components (including Risk and Control Self-Assessment, Risk indicators, Events, Strategic Risk Assessments, and Key Risks).

To assess the level of adherence by the business to the relevant risk frameworks, policies and standards. Keep up to date and remain relevant with the Operational Risk framework, policies, standards, procedures and relevant legislation / regulations and act as the specialist in business for all elements of the Operational Risk framework, including the ownership of related initiatives and support. Provide input into the 2nd line strategy for managing operational risk.

Primary Responsibilities

• Second line monitoring, checking, and challenging first line in the setting and execution of the Operational Risk strategy, leveraging off 1st line Governance and Control resources in each business area for execution, where applicable.
• Provide thought leadership and drive consistency in the second line approach to Operational risk.
• Ensure that each business area has measures in place to monitor and manage all of the sub risk type profiles and embedment of risk tools (e.g. PRCIA’s, KRI’s).
• Monitor risk appetite in conjunction with the business, to ensure that business maintains exposure in line with this appetite based on a balanced risk / reward decision.
• Drive the embedment of the Group operational risk standards, promoting the integration of operational risk considerations, into all risk reward decisions and general business management.
• Assess, challenge and monitor the current and forward-looking exposure (financial and non-financial) to Operational Risk (i.e., considering all framework elements, strategic planning, business expansions / contractions and other major change programmes, including new product approval).
• Review and monitor key risk tools relevant to the business units for completeness, with appropriate challenge.
• Check and challenge the end-to-end Operational Risk profile of the relevant business units, including emerging risks, to ensure no surprises.
• Partner with the first line of defense to provide guidance on issue / action documentation, tracking, escalation, and remediation.
• Oversee monthly loss event reconciliations and related attestations to ensure that all applicable risk events and losses have been captured on the Operational Risk system.
• Participation on BU assurance activities, in line with the combined assurance model and ensuring that are undertaken to independently assess the effective implementation and embedment of the operational risk frameworks, its associated policies and standards and management of the underlying risks across the organisation.
• Assist in ensuring Business readiness for assurance reviews and deep dives. Play an active role in the discussion of issues to be reported from assurance reviews, ensuring that issues are valid and factually accurate, and actions are well defined and timed appropriately.
• Achieve the required 2LoD assurance responsibilities, perform conformance reviews to provide assurance that risk frameworks, policies and standards are effectively implemented and embedded within the BU, and perform discretionary control testing, in accordance with the Assurance Standard.

Desired Experience and Qualifications

Access and Opportunities

Next Steps

Are you interested to take the step? We look forward to engaging with you further. Apply now!

Job Details

Applications will not be accepted on 30 / 11 / 25 and onwards. Kindly submit applications ahead of the closing date indicated below.

All appointments will be made in line with FirstRand Group’s Employment Equity plan. The Bank supports the recruitment and advancement of individuals with disabilities. In order for us to fulfill this purpose, candidates can disclose their disability information on a voluntary basis. The Bank will keep this information confidential unless we are required by law to disclose this information to other parties.

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