Operational Risk Manager

Job Description

Job Purpose
To develop and monitor the implementation of the Operational Risk Management Framework in Nedbank and its subsidiaries to comply to regulatory requirements and ensure alignment to international best practice.
Job Responsibilities
  • Deliver on the Group Operational Risk Management (GORM) strategies and annual business plans aligned to regulatory requirements (BASEL, Banks Act) and take corrective action, where necessary.
  • Provide input into the enhancement of the Operational Risk Management Framework (ORMF), methodologies, policies, processes.
  • Improve the effectiveness and relevance of internal and external loss operational risk data.
  • Review outcome of operational risk practices of stakeholders.
  • Monitor and analyse major operational risk losses and control breakdowns.
  • Identify regulatory changes and potential future operational risk impacts.
  • Compile and/or provide input into internal operational risk reports and external disclosures.
  • Engage with stakeholders to obtain an understanding of their operational risk practices to contract, manage and meet expectations.
  • Develop and maintain partnerships with stakeholders to facilitate accomplishments of operational risk objectives.
  • Become a trusted advisor to, and influence decision making of stakeholders by providing an advisory service, guidance and support on operational risk management practices.
  • Facilitate collaboration between stakeholders.
  • Collaborate and maintain relationships internally.
  • Build and maintain relationships with relevant regulators and other assurance providers.
  • Contribute to a culture of transformation by participating in Nedbank culture building initiatives, business strategy, and CSI.
  • Stay abreast of developments in field of expertise, ensuring personal and professional growth.
  • Understand and embrace the Nedbank vision and values, leading by example.
  • Identify opportunities to influence the improvement or enhancement of business processes and methodologies adding value to Nedbank.

Responsibilities + Skills

Conducting root cause analysisDeveloping ways to manage risksDrafting reportsSharing information in different ways to increase internal stakeholders understandingWriting business proposals


Advanced Diplomas/National 1st Degrees


Minimum Experience Level5 - 8 years experience in Risk, Governance and Auditing and/or 8 - 10 years experience in banking and/or insurance

Job Summary

  • Published on: Wednesday, 4th December 2019
  • Designation: Operational Risk Manager
  • industry: Finance
  • Vacancy: 1
  • Employment Status: Full-time
  • Job Location: Johannesburg
  • Salary: on a call
  • Gender:
  • Application Deadline: Wednesday, 4th December 2019

About the Company

  • Company Name: Nedbank Recruiting.
  • Address:
  • Website: https://www.nedbank.co.za/
  • Company Profile:
  • Staying abreast of the various IFRS 9 modelling methodologies across retail and wholesale productsContributing to development aspects of the loss forecasting and stress testing framework and keeping the framework up to date as the methodology evolvesConducting ad hoc analysis on IFRS 9 PD, EAD, LGD and Survival models, as well as overall impairment calculations, for retail as well wholesale-type portfoliosConducting independent credit risk stress testing related research and using it as input into proposals and strategiesEngaging with various stakeholders across the organisation (including risk and finance) to discuss methodological aspects, business assumptions and results from the loss forecasting work stream

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