Empowering Africa’s tomorrow, together…one story at a time.
With over 100 years of rich history and strongly positioned as a local bank with regional and international expertise, a career with our family offers the opportunity to be part of this exciting growth journey, to reset our future and shape our destiny as a proudly African group.
Job Summary
To support the Head of Enterprise Stress Testing and Scenario Planning by taking responsibility for the group’s scenario and stress testing outcomes through:•Data, processes, execution of stress tests and contributions to scenarios required e.g. for recovery planning, resolution planning and the Internal Capital Adequacy Assessment Process (ICAAP).
•To take responsibility for coordinating, developing and executing best practice processes and tools to assist business and legal entities in optimizing scenario and stress testing capabilities and assessing vulnerabilities to external drivers. Currently there is focus on building valuation capabilities in preparation for the resolution requirements per the Resolution Authority and international best practice.
•To develop, maintain and manage relationships with internal and external stakeholders for all areas of responsibility.
•Provide leadership and best practice advice with regard to data infrastructure, impairments, projecting regulatory, financial and risk metrics as well as buffer setting.
•Ensure quality forecasts (intra-month, full year, multiyear, stress testing) across the portfolios to support the relevant needs of business functions.
•Reporting to internal and external stakeholders e.g. disclosures in Pillar 3 and ICAAP.
Job Description
Accountability: Data architecture, Stress Testing Strategy, Framework and Execution
- Stay abreast of new developments related to scenario development, stress testing and resolution valuations, especially with regard to regulatory developments, ensuring best practice is adopted internally.
- Maintain the AGL stress testing framework.
- Take overall responsibility for the data strategies, frameworks, OLA’s and execution ensuring that adequate governance is in place for the process.
- Ensure that stress testing functions are embedded in all business units, legal entities and risk types.
- Further develop and maintain the strategies and frameworks to ensure utilization of best practices to best meet the needs of the business.
- Ensure all instances where breaches occur are reported to and brought to the attention of senior management and governing bodies as applicable.
- Manage internal and external audit requirements regarding the scenario and stress testing data and execution process.
- Take overall responsibility to manage internal and external stakeholders, to provide assurance on the soundness of the data framework.
- Effectively and efficiently handle queries from stakeholders (e.g. regulators) on reports.
- Maintain a stress testing data architecture aligned to BCBS 239.
- Ensure stress testing practices are adherent to BCBS 450 principles on Stress Testing.
Accountability: Scenario and Stress – Development, Execution and Reporting
- Source macro-economic variables to support the financial planning, IFRS 9, recovery and resolution planning and any other scenario or stress testing activities through the relevant governance process.
- Explain requirements to economists to ensure that all scenarios are relevant, fit for purpose and robustly test the vulnerabilities of Absa Group.
- Co-ordinate and collaborate, including providing guidance / direction / review/ challenge, with stakeholders to complete scenarios and required regulatory stresses and associated activities, while ensuring documentation follows the appropriate governance before being approved by, where appropriate, Board Committee(s).
- Assess the impact of scenario analysis or stress testing on the different risk types, in particular capital and liquidity management strategies, and where necessary determine adequate buffers.
- Contribute to the Pillar 3 disclosure, ICAAP, ILAAP, Recovery and Resolution Plans and ensure compliance with all the relevant requirements in this regard.
- There is currently a focus on building out resolution valuation capabilities and processes in preparation for resolution plan requirements from the Resolution Authority.
Accountability: Stakeholder and Relationship Management and Effective Leadership
- Lead by example in building strong internal and external relationships with colleagues across the continent.
- Ensuring stakeholders are supported and assisted for successful delivery of regulatory stress testing requirements and scenarios.
- Establish and maintain clear and regular communication with business in creating awareness and understanding of developments relating scenario planning, stress testing and resolution valuations.
- Leading pan-Africa working groups on the execution of stress testing.
- Holding suppliers to account and ensuring suppliers perform in line with agreed SLA’s.
Education
Bachelor`s Degrees and Advanced Diplomas: Business, Commerce and Management Studies (Required)Absa Bank Limited is an equal opportunity, affirmative action employer. In compliance with the Employment Equity Act 55 of 1998, preference will be given to suitable candidates from designated groups whose appointments will contribute towards achievement of equitable demographic representation of our workforce profile and add to the diversity of the Bank.
Absa Bank Limited reserves the right not to make an appointment to the post as advertised
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