Third Party Operational Risk Reporting Lead - Johannesburg, South Africa - FirstRand

FirstRand

Verified Company

Johannesburg, South Africa

2 weeks ago

Posted by:

Thabo Mthembu

beBee Recruiter

Description

Job Description

Hello Future Third Party Operational Risk Reporting Lead

FirstRand believes that its people are its single most important resource and will not operate in a sector unless it has people who are right for that market and who share FirstRand's business values.

We recruit self-starters who have a passion for what they do. We empower them, hold them accountable and reward them appropriately. We value diversity in our people, particularly for the way that this contributes to innovative thinking. If you think you will flourish in our environment, and you believe you have the necessary skills and competencies for the position advertised, then we are looking for you

The purpose of the Third party and operational risk reporting lead role is to:

Ensure that current and emerging risks are reported to relevant governance committees.
Perform critical activities to embed and operationalise the groups operational and third party risk management frameworks.
Ensure that operational risk processes are improved in line with business requirements and strategy.
Assist with the future strategy/direction for Ops Risk Governance and achievement of the operational risk strategy for the Group.
Develop and direct the implementation of and adherence to Group policies, procedures and work standards for operational risk.
Provide oversight for to the effective implementation of the operational risk management framework.
Work with business units and Segments to establish, maintain and continuously improve risk management capabilities and practices, where applicable.
Provide professional and world class representation to senior management on all matters relating operational and third party risk.
To guide and provide oversight for the treatment of third-party risks through the efficient and effective development and implementation of the third-party risk framework, as it relates to operational risk.
To provide guidance and tools to enable the management and monitoring of third party risk in compliance with the third party risk management framework.

Responsibilities:

Prepare operational and third party risk profile reports with focus on key risks, mitigating actions, trends and emerging risks.
Escalate significant risk issues to governance committees.
Draft, review and challenge risk reports, profiles and dashboards submitted by Segments and risk types and challenge risk related business decisions where necessary.
Develop and communicate timelines for submission of relevant risk reports to governance committees
Facilitate and coordinate committee proceedings and publish committee packs.
Facilitate, coordinate and report on third party, outsourcing, insourcing and critical

- third party service provider submissions.

Coordinate and prepare the annual SARB Outsourcing Return
Ensure that the annual review of key third parties is performed.
Monitoring key risk mitigations and monitor the implementation of risk mitigations of select third party engagements and advise management of identified concerns in a timely manner.
Provide risk opinions and advise management on practical matters relating to third party and operational risk.
Support business owners to engage with selected third parties to explain to, or train them on the group policies and procedures, as well as assist select third parties in completing information that the group may require for due diligence purposes.
Reporting to designated governance structures and by preparing governance papers, and in certain cases, presenting at governance committees tasked with overseeing Operational Risk Management Framework.
Ensure compliance with relevant regulatory, statutory, legislative, policy and governance requirements in area of accountability.
Advance frameworks and policies in line with best practice and ensure implementation across the business.
Facilitate and coordinate third party and operational risk management induction and training.
Third party risk monitoring system support and maintenance.
Maintain knowledge on relevant regulatory amendments, industry best practices and internal compliance procedures and requirements.
Implement and provide input into the development of governance and compliance procedures and processes within area of specialisation and identify risks.
Networks and participates in specialist risk forums where required.
Research, enable and consult on improvements and opportunities to harness technology and platform enablement.
Review existing processes and suggest innovative ideas to improve and streamline processes to drive efficiencies and minimise redundancy
Partner and collaborate with team members to achieve team success
Share information and knowledge that benefits the team
Build relationships that allow for the managing of expectations; the sharing of knowledge and diverse insights; and the creation of buyin
Engage in crossfunctional relationships to obtain and to provide work support
Particip