Mission/ Core purpose of the Job
• The Manager Enterprise Risk Management is responsible for managing the operational risk initiatives for Fintech SA OpCo and ensuring the implementation of operational risk best practices by analysing current and potential risks and reporting on risk exposures and prevention strategies for Fintech SA OpCo.
• Measures of success include implementation and effective use of the tools for risk assessments and reporting, increased risk management awarenessthroughout the Fintech OpCo and achievement of internal processes KPA’s
Context:
Fintech is entering a new phase where operational and commercial excellence has become critical for success. A separate Company has been set up to drive financial products and services to expand the reach and speed of operations. There is an increased focus in the commercial areas, new products and services and scaling up of Digital capabilities. The incumbent must therefore ensure the successful delivery in context of:
• An expertise-based multicultural Fintech organisation
• A dynamic and evolving field of Fintech industry
• Revolutionary workforce practices which are bringing together global labour markets
• Convergence in markets and exploration of non-traditional revenue streams requiring complex interpretation and structuring
• Evolving industry sector constantly presenting new challenges and opportunities to the core businesses
• Dynamic legal and regulatory environment
• Agile ways of working
• Product and Customer-driven operations
Key Activities & Responsibilities
Strategy Development and Implementation
• Develop the Operational Risk strategy for Mobile Fintech SA
• Define operational targets that are aligned to the business strategy
• Develop methodologies to perform analysis of the internal control environment
• Develop, implement and refine methods, processes, and systems to enhance effectiveness and meet organisational goals
• Drive best practice, continuous improvement, and innovation at the process and procedure level within the Operational Risk
• Provide reports & analysis to support, contribute to the development of the functional fintech strategy in line with the overarching business goals
• Ensure accurate and timely reporting to enable the regular review of the functional strategy, roadmap, and performance to ensure its alignment
with the changing dynamics of the internal and external ecosystem
Operational Delivery
• Adopt Operational Risk management framework for Mobile Fintech SA in line with Group Fintech Risk & Compliance frameworks and guard rails
• Ensure adherence to directives guidelines & frameworks issued by Group Fintech Risk & Compliance
• Ensure and support the adoption and implementation of the defined frameworks by Mobile Fintech functional areas
• Consolidate and analyse Risk scheduled reports and metrics from all functional areas to be reported at a Group Fintech level
• Utilise appropriate models for analysing potential risks to the business, taking a 360-degree view of Mobile Fintech SA risk profile
• Facilitate risk assessments for all operational processes to identify risks inherent to the design, management, or performance of business
processes, procedures, systems, and people
• Facilitate product risk assessment with the product teams and other key stakeholders
• Lead the development of risk mitigation controls and recommendation of internal controls with ownership by functional areas, for controls and
mitigation action plans
• Work with the Internal Controls to determine effectiveness/ineffectiveness of defined controls using control testing or validation methods and
arrive at the residual risk
• Ensure ongoing risk identification, assessment, and reporting to the stakeholders
• Perform regular reviews of the risk processes followed by functional areas and report on progress
• Monitor and report on exposures as well as perform in-depth evaluations on key risks within the organization
• Analyse and advise on costs associated with risk non-compliance maintenance and prevention
• Assist business in developing risk controls, risk prevention strategies, and business continuity plans
• Assist in testing Risk Programmes and related systems, processes, and procedures to ensure their ongoing effectiveness and provide
recommendations, where necessary
• Conduct all work according to implemented risk policies
• Provide Risk Management analytics data across all possible internal and external risks
• Perform Business Impact Trend Analyses on both internal and external risks that need to be addressed to sustain business operations stability
• Design stress scenarios to measure the impacts of unusual market and operational conditions
• Ensure the ongoing implementation of Combined Assurance within the Group Fintech
• Ensure preparation of operational risk management reports to stakeholders when required (i.e., Risk exposure reports, Exco reports)
• Prepare Audit, Risk and Compliance Committee, Exco, and all necessary reports required for the Group Fintech
• Identify possible implications arising out of the Trend Analyses and propose recommendations on corrective actions to be pursued
• Distil the results of the Business Impact Analysis into concise reports for the Senior Manager’s attention
• Write recovery procedures and/or workflows, in accordance with area-specific Enterprise Risk Management requirements
• Make any updates and/or changes to area-specific Enterprise Risk documentation, on instruction from the Senior Manager, as and when required
• Monitor implementation of action plans to ensure risk mitigation efforts are proceeding, as required
• Drive best practice, continuous improvement, and innovation of the Risk Management programme at the process and procedural level
• Prepare and deliver high-level internal and external risk reports to Management by defining risks that require immediate attention, to assist in
enhancing the effective and efficient operation of Mobile Fintech SA.
• Provide inputs to the Senior Manager, as required, relating to progress made within risk assessment and reporting, in accordance with the
measurement metrics set by Mobile Fintech SA.
Governance
• Operational, Tactical and Strategic Meetings
• Provide input in strategic meetings when required
• Provide inputs into the risk mitigation and controls
• Provide input into the preparation of proposals on change initiatives, policies, and procedures
Escalations
• Escalate issues that will result in severe time, scope, productivity, and cost or resource impact
• Provide solutions to escalations that have multiple processes / functions impact on the critical path of service delivery
Function Tactical
• Provide input into all projects initiated
• Provide input into establishing objectives, targets, and budgets for the function as applicable
• Identify and document key risks, issues, and dependencies and set mitigation actions
• Prepare documentation required for sign-off / making decisions regarding tactical changes
Performance
• Ensure execution in alignment with divisional strategy
• Continuous performance monitoring and a strategy and actions to deliver targets
Reporting
• Report on a periodic basis relating to progress made within the function and in accordance with the measurement metrics set by the organisation
• Report on an ad hoc basis on specific projects, as required
Budgets
• Manage functional budgets in line with the overall budget and business objectives
• Managing project initiative budgets in line with business objectives
• Support the reduction of cost of operations, in line with a least-cost operating strategy stemming from the business drivers
Core Competencies Level
Strategic Thinking: Intermediate
Stakeholder Management: Expert
Critical thinking and problem-solving: Intermediate
Risk Identification, evaluation & measurement, monitoring, mitigation and reporting: Expert
Risk advisory: Expert
Risk Escalation and Risk Acceptance: Expert
Supporting Competencies Level
Decision Making: Intermediate
Co-ordination & Planning: Expert
Collaboration: Expert
Job Portfolio Focus Degree
Strategy: Medium
Operations & Implementation: High
Team/ People Management: High
Job Outcomes / Results
• Improved Risk & Compliance maturity
• Subject matter expert on Risk advisory
• Improved adoption of risk policies and procedures
• Improved collaboration with Group Fintech R&C as well as stakeholder relations
• Maturity on Product & Services Risk Assessment
• Improved Risk reporting and risk escalation to Group Fintech R&C
• Adoption of Risk tools for risk identification,measurement and reporting
• Use of AI
Collaboration & Influence Degree
Business functions & Product Verticals in Mobile Fintech SA: High
Group Fintech Risk & Compliance: High
External contractors, partners and suppliers: Medium
Internal and External Audit: High
Education, Skills and Experience
Education
• 3-year Degree (preferably related to Risk Management) or related
• Professional qualification in Risk Management (CRM Prac, CRM Prof, CRMA, PRM, CRISC)
• Membership of a Professional body
Experience
• Minimum of 5 years’ experience in a risk management function; with experience in supervising/managing others
• Experience working in a medium to large organization
• At least 3 years’ experience within a traditional Telecommunication or FinTech or Consumer Marketing environment
• Experience at the management level in the financial sector
Skills:
• Analytics and Interpretation
• Strategic Thinking
• Organizational Agility
• Digital mind-set
• Dealing with ambiguity and complexity
• Decision Making
• Conflict Management
• Numerical
• Project Management
• People Management
• Executive Presentation
