Job Description

Let's Write Africa's Story Together!

Old Mutual is a firm believer in the African opportunity and our diverse talent reflects this.

At OM Bank, we strive to attract great people who are passionate about coming together for a higher purpose- building something unique and aspirational, always aiming to be the best they can be. We are rooted in our purpose of inspiring and enabling our customers to grow and sustain their prosperity.

This role forms part of the Line 2 Risk team within the wider Risk team in OM Bank. This role is responsible for the Line 2 Risk oversight for Operational risks across OM Bank. Areas of focus include, Payments Risk, Process Risks and Data Flow Risks, Product Risks, Banking Operations Risks, Business Optimization and Enablement Risks, Project Risks, Customer Onboarding Risks, Financial Crime and Forensic Risks, Credit Operations Risks, Financial Operational Risks and Controls, Hardship and Collections Risks, Operational Risk Regulatory Reporting.

Responsible for overseeing the operational risk framework of a bank and its alignment with the Banks Act and the Regulations relating to Banks.
Oversee the bank's operational risk processes and its compliance with the directives of the Prudential Authority, South African Reserve bank and any related best practices.

Detailed understanding of Operational risk regulatory reporting (BA 400 series), loss event reporting and calculation of operational risk capital in accordance with Banks Act Requirements.

Engagement with key Stakeholders is required to ensure alignment and tracking of progress across key Operational risks. There will be Line Management responsibility for 1 or more Risk Officers.

Collaboration with the other Risk teams is crucial given the interconnectedness of risks, and a working knowledge of processes in banking will be required. A strong understanding of regulations related to a Banking environment is also required.

KEY RESULT AREAS

Reporting

• Provide input into the CRO, ERC and RCMC reports on key operational risks.
• Provide relevant expertise and input when completing regulatory report submissions.
• Provide reporting and insights at forums such as Excos, Risk Committees and other Management Committees etc.
• Support reporting processes across the Operational Risk team.
• Support with alignment of reporting between the Line 1 and Line 2 Risk teams.

Risk Management

• Drives the communication and implementation of risk management frameworks, policies and standards, and actively promotes embedding of a strong risk culture.
• Supports the teams to identify, measure, control, monitor/manage and report on material risks within functional area of responsibility.
• Support management to identify suitable mitigating actions to address key operational risks.
• Support management with the policy adoption, roll out and compliance.
• Successfully collaborate with all levels of stakeholders to ensure strong risk management practices.
• Ensure completeness of risk registers on risk management system
• Risk appetite metrics review and monitoring
• Provides objective oversight, monitors and reports on the maintenance of prescribed minimum standards in the Bank risk management methodologies, processes and data requirements, and initiates appropriate corrective action as may be required.
• Takes a proactive, forward-looking approach to providing risk oversight, considering the full risk profile of the business/segment, risk events, KRI’s, RCSA’s, emerging risks and external factors.
• Training of OM Bank employees on Risk Management

Combined Assurance

• Risk assessments and thematic deep dives to support Combined Assurance Model
• Identify assurance gaps and roadmaps to close gaps. Oversight on Line 2 and Line 3 activities and gaps
• Continuous assessment of adequacy and effectiveness of controls as per the approved combined assurance model.

Stakeholder Management

• Collaborates strongly with Management/Executive teams to ensure risks are managed appropriately and pro-actively
• Provides support to the Line 1 risk owners, controls owners, risk indicator owners, management action owners and risk coordinators, so they are enabled to fulfil their risk management responsibilities.
• Provides input into the annual review of risk profiles for the bank.
• Strong collaboration is required with all Risk CoEs and other Assurance providers.

Team Effectiveness

• Displays exemplary Role-Model Leadership behaviour in all engagements with the business
• Execute responsibilities in line with the values of OM Bank
• Creates a climate for optimal performance.
• Balances own priorities while directing and motivating others.
• Guides and directs staff to achieve operational excellence standards.
• Drives a culture of high performance within team and in the business
• Selects potential staff to sustain customer/client service delivery.
• Ensure succession planning is in place within team and across risk and control owners

ROLE REQUIREMENTS

• Bachelor’s Degree and/or post-graduate qualification in risk management/ internal audit/ engineering/ finance/ business administration or a related field.
• Proven track record/experience on large projects/programs and enterprise-wide changes.
• Proven experience (10+ years) in enterprise risk management within the Banking industry, with a strong understanding of operations and technology, data flows, banking products, payments, credit processes, banking processes, banking operations and regulatory requirements.
• Sound knowledge of risk management frameworks, methodologies, and tools, such as risk assessment matrices, scenario analysis, and risk modelling software.
• Experience in working across a value chain is essential.
• Solid Planning, Integration and Execution skills.
• Strong stakeholder management skills across all levels.
• Strong leadership skills, including coaching and mentoring.
• Solid Line1 Operational experience is advantageous.
• Excellent written and verbal communication skills, especially presentation skills.
• Solid integration and analysis skills.
• Strong data analytical skills

Skills

Adaptive Thinking, Business Requirements Analysis, Change Management, Current State Assessment, Data Compilation, Executing Plans, Oral Communications, Policies & Procedures, Policy Development, Presenting Solutions, Professional Presentation, Strategic Planning

Competencies

Builds Effective TeamsBuilds NetworksBusiness InsightCollaboratesCommunicates EffectivelyCustomer FocusEnsures AccountabilityFinancial Acumen

Education

Bachelors Degree (B)

Closing Date

25 August 2026 , 23:59

The appointment will be made from the designated group in line with the Employment Equity Plan of Old Mutual South Africa and the specific business unit in question.

The Old Mutual Story!