Apply for Job

Chief Risk Officer

Vacancy Details

Reference No.

PG-42340

Synopsis

A leading financial exchange is currently seeking an individual to assume the role of Chief Risk Officer. The successful incumbent will be responsible for providing strategic, executive leadership and oversight to the organisations Risk Management Team as well as contributing to the achievement of the organisation’s strategic priorities.

Description

  • Set the vision and strategy for the enterprise risk function, working in conjunction with all other senior leadership across the organisation.
  • Build a robust risk management framework and architecture for the organisation and manage enterprise wide risk.
  • Ensure that a system wide view and understanding of the combined risks of the business and their interrelationships.
  • Formulate and articulate coherent risk appetite and related infrastructure.
  • Effectively challenge the activities and decisions that materially affect the organisation’s risk profile.
  • Ensure that the business leaders, who are responsible for their risks, are aware of their obligations.
  • Provide sufficient support to risk owners to assist them to define and rate their risks.
  • Monitor policies and procedures for appropriate risk measures.
  • Deliver productivity gains and service excellence by proactively identifying transformational projects to optimise systems and processes, overseeing and directing the execution of these projects and monitoring and tracking progress against targets.
  • Measure and track year-on–year improvements in divisional capability by using organisation wide measures such as ROE (return on equity) and shareholder return EBIT (earnings before interest and tax).
  • Ensure that divisional capability improves year after year by ensuring that strategic outcomes and measures are clearly defined and that accountability for these measures is determined, delegated and reviewed and then by recognising performance using long term incentives relating to shareholder value return on equity.
  • Lead and direct activities designed to avoid market losses, contagion and reputation damaging incidents by ensuring accurate and credible risk management that safeguards investors and builds South Africa’s image as an investment destination and so ensure exchange licence is renewed annually.
  • Contribute to influencing the direction of policy affecting the South African market ecosystem by engaging with local and international regulators. 
  • Minimise and avoid losses to the organisation and the market in general in the event of participant default or unforeseen macro-events by being accountable for crisis management and decisions relating to stabilisation of the market including structural or strategic decisions that will affect regulatory or rule changes for the capital markets.
  • Contribute to the management of any industry or country level crisis by meeting with the Financial Sector Contingency Forum during a crisis to determine appropriate response and contingency plans.
  • Make strategic decisions at board level by engaging across the markets and with global and local regulators and guiding and contributing to strategic decisions.
  • Ensure business model remains commercially viable by engaging board members and market participants on the organisations business value.
  • Ensure risk of default of a participant is minimised by overseeing the management of risk at the CCP to ensure credible and accurate models and methods are applied and by remaining close to market to pre-empt and ensure early identification of market members in distress.
  • Make decisions that affect the direction of the division or the organisation on a 3-5-year horizon by engaging with peers in the South African market or global peers together with the CEO and board.

Requirements

  • 10 - 15 years’ experience in a governance environment in the financial services industry including 5 years’ experience as senior manager and 5 years’ experience of legislation applicable to the financial services industry.
  • Experience in banking regulation or interaction with national regulators preferred.
  • 5+ years of people management experience, including experience as a manager of managers.
  • A minimum of 10 years of experience in a leadership position.
  • Should have experience in partnering with an executive team and have a high level of written and oral communication skills as well as a strong knowledge of processes.
  • Proven ability to oversee a number of risk types, ideally including credit, market, operational, investment, regulatory and strategic risk and specifically liquidity, refinancing, concentration and counterparty risk.
  • Knowledge of regulatory environment and key regulatory regimes.
  • Leadership skills, including the ability to manage risk, compliance and control activities in a complex financial operation.
  • Considerable knowledge and experience of best practice risk management and governance frameworks, methodologies, and emerging practice, in relation to the South African financial services context.
  • Ability to exercise oversight over governance, risk, compliance and control arrangements in a complex financial operation.
  • Proven relationship with existing financial market regulators (advantageous).

Kindly note, if you have not heard from us within two weeks of your application please consider it unsuccessful.

Position Type

Permanent

Work Level

Senior Management

Salary

Market Related

Industry

Banking/Finance And Investment

Salary Type

Annually

Package

Cost To Company

Affirmative Action

Yes

Geographic Location

Gauteng - JHB North