OPERATIONAL RISK ANALYST – REF8516

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R HIGHLY NEGOTIABLE PLUS ANNUAL PERFORMANCE BONUS

Our client believes in a better future. First and foremost, they are working towards a better future for their clients. They have entrusted the company with their investments and the company’s responsibility is to look after their capital. The company’s purpose is to help people around the globe enjoy a dignified retirement and to preserve wealth for future generations. Their culture supports innovation. The company values honest debate and the sharing of ideas. Their people are encouraged to challenge the status quo.

Following a strategic review, the board of the group announced on 14 September 2018 that the company will become a separately-listed entity. The demerger is subject to regulatory, shareholder and other approvals and is expected to be completed by Q3 2019. A number of workstreams have been established to manage and execute the demerger for the company. The separation workstream is responsible for managing the transition of services from group to the company and includes three delivery programmes; central services, IT and marketing.

As noted above, the company will become a separately-listed entity by Q3 2019. Certain services currently provided at Investec group level will now need to be sourced in a different way. The primary tax gap that will be created is the income tax and VAT compliance function in South Africa, and to a lesser degree the UK.

They now seek an operational risk analyst to join their team. You will report to the head of the team who is based in London. The prior incumbent has moved with the business to Luxemburg. You will be part of a global team – there are 2 people in CT, 2 in London and 2 in Luxemburg.

  • Key to the role is that the client requires an individual who has modelling skills. This will however only be about 20% of the role. The risk analyst have a generalist function and not silo’d in their functions. The individual will get well rounded exposure, with exposure to every element of operational risk. This is a very exciting role!
  • This role is for a suitably qualified affirmative action candidate.

JOB DESCRIPTION WILL INCLUDE BUT NOT BE LIMITED TO:

  • You will be part of the operational risk team that undertakes a broad range of activities, primarily to assist the business in the identification and remediation of risk identification, control effectiveness and process efficiency;
  • You will be required to operate as part of a flat structured and highly collaborative team that seeks to develop and embed a best practice risk management framework as part of a wider governance function (comprising compliance and internal audit) and partner with the business in a programme of continual challenge and assessment of the business and control environment;
  • You will be responsible for specific responsibilities in respect of the operational risk scenario modelling and capital calculation process;
  • You will be required to operate as a member of a broad-reaching operational risk team with a global scope;
  • You will be required to assist in the ongoing development and refinement of the operational risk framework;
  • You will be required to assist the key goals of the team, including: review and challenge of the existing control environment, identification of process/control efficiencies, planning and execution of risk reviews, and management of investigation and resolution of issues and errors;
  • You will be required to assist in the annual operational risk scenario and capital modelling process;
  • You will be required to assist in the preparation and management of operational risk contributions for various boards and governance committees;
  • You will be responsible for daily escalation of high risk items to the operational risk manager;
  • You will be required to identify, review, analyse and manage operational risks in business units with the business and report thereon;
  • You will be required to analyse identified trends in the key risk indicators reported to operational risk management, and report thereon;
  • You will be required to assist with the crisis management (including BCP and DRP) planning and testing, where required;
  • You will be required to assist with other areas of general administration within the team’s remit, including maintenance of the risk databases, preparation of meeting packs;
  • Mandatory responsibilities:
    • You will be responsible for adhering to the code of ethics and related policies, including personal account dealing, gifts, inside information, etc.;
    • You will be responsible for ensuring compliance forms and declarations are completed and returned on a timely basis;
    • You will be responsible for ensuring timely completion of compliance training;
    • You will be responsible for ensuring that you maintain appropriate level of training and threshold competence levels;
    • You will be responsible for ensuring you keep up to date on procedures and best practice relevant to your job responsibilities;
    • You will be responsible for ensuring regulatory, client and other corporate records are maintained;
    • You will be responsible for ensuring that firm and client data and property, including IT data, are properly protected and that advised best practices are followed to maintain confidentiality and security of all data;
    • You will be responsible for reporting any possible and actual breaches, errors, or complaints;
    • You will be responsible for reporting any possible concerns about conduct or unfair treatment of customers to compliance;
    • You will be responsible for reporting any suspicion that a client, investor, or employee may be involved in money laundering, fraud or other crime;
    • You will be responsible for being alert to possible wider compliance and operational risk issues within the general business.
  • Non-mandatory responsibilities:
    • You will be responsible for ensuring that your team procedures are kept up-to-date;
    • You will be responsible for ensuring that all changes in business practice are taken through the appropriate business forums;
    • You will be responsible for ensuring that regulatory, client and other corporate reporting deadlines are met;
    • You will be responsible for ensuring that if handling client monies and client assets that they are properly protected, recorded and reconciled;
    • You will be responsible for maintaining “chinese walls” / “ethical walls” with other parts of the group and within the company under the inside information requirements.

CORE COMPETENCIES REQUIRED, BUT NOT LIMITED TO:

  • You have excellent communication (verbal and written) skills in English;
  • You have strong people skills and the confidence to work with people at senior levels in the business, globally;
  • You are able to adhere to principles and values;
  • You are able to apply expertise and entrepreneurial and commercial thinking’
  • You have a keen eye for detail, accuracy and ability to multi-task;
  • You are a self-starter and have the ability to prioritise work and show initiative;
  • You are able to thrive under pressure and be energetic;
  • You are organised and willing to go the extra mile, but required to be flexible;
  • You are able to attend to ad hoc projects as and when risks arise in the business;
  • You are trustworthy and dedicated;
  • You are able to question and analyze processes in depth and have a forensic bias.
  • You enjoy performing root cause analysis.

CORE QUALIFICATIONS AND EXPERIENCE:

  • You have a background in controls-based environment, such as audit or risk;CA(SA) or hnrs in Maths;
  • You have current, relevant financial or mathematical experience, specifically risk modelling or similar;
  • You have knowledge of financial services industry, preferably asset management.

You would be able to hit the ground running in this global best practice financial services company. Your expertise, energy and smart work style will be well rewarded with great bonuses and an outstanding team to work alongside.