OM Bank - Risk Analyst

Let's Write Africa's Story Together!

Old Mutual is a firm believer in the African opportunity and our diverse talent reflects this.

Job Description

The Risk Analyst will serve as a critical member of the Strategic Assurance team, reporting directly to the Head of Strategic Assurance. While the immediate priority involves leading the bank's Risk Data Aggregation and Risk Reporting (RDARR) programme as the designated Subject Matter Expert (SME), this role encompasses broader risk management responsibilities to ensure comprehensive support across the bank's risk framework.

The successful candidate will work at the intersection of risk management, data analytics, and regulatory compliance, supporting both Line 1 and Line 2 risk activities.

KEY RESULT AREAS

1. RDARR Programme Leadership & Coordination

Programme Management & Governance

• Act as the designated RDARR SME, driving the bank's compliance with BCBS 239 principles and SARB Prudential Authority requirements
• Coordinate and facilitate RDARR programme team meetings, including comprehensive minute-taking, action log maintenance, and follow-up tracking
• Prepare detailed reports and presentation packs for the RDARR Steering Committee, Executive Committee, Board Risk Committee, and Prudential Authority submissions
• Maintain the RDARR programme dashboard, tracking remediation progress, milestone achievements, and risk indicators
• Develop and maintain RACI matrices for risk data ownership and accountability across the Three Lines of Defence

Risk Data Management & Governance

• Establish and maintain comprehensive risk data dictionaries, taxonomies, and metadata repositories
• Define and document critical data elements (CDEs) for risk reporting, ensuring appropriate governance controls
• Develop data quality rules, validation procedures, and reconciliation processes
• Create and maintain data lineage documentation from source systems through to regulatory reports
• Support evaluation and implementation of risk data architecture solutions compatible with alliance banking platforms

Compliance & Remediation

• Conduct comprehensive gap assessments against BCBS 239 principles, documenting control deficiencies and remediation requirements
• Design and implement risk data quality frameworks, including quality metrics and exception reporting
• Support preparation for regulatory engagements, including evidence compilation and response documentation
• Coordinate remediation workstreams across IT, Finance, Operations, and business functions
• Monitor and report on compliance status, escalating issues to appropriate governance forums

Risk Reporting Enhancement

• Design and produce risk reports meeting regulatory standards for accuracy, completeness, and timeliness
• Develop automated reporting solutions to reduce manual interventions and operational risk
• Ensure reporting capabilities align with the Three Lines of Defence model
• Support stress testing and scenario analysis with reliable, aggregated risk data

2. General Risk Analysis & Management

Risk Assessment & Monitoring

• Conduct risk assessments and analyses to identify, evaluate, and monitor risks across business units
• Analyse risk scenarios and quantify potential impacts within the bank's risk appetite framework
• Support the development and maintenance of risk registers and heat maps
• Perform trend analysis on key risk indicators and metrics

Policy & Procedure Development

• Contribute to drafting and updating risk policies, procedures, and guidelines
• Ensure alignment with regulatory requirements and industry best practices
• Support the implementation of new risk management frameworks and methodologies

Stakeholder Management & Collaboration

• Collaborate with Line 1 teams to ensure new builds and enhancements support risk and RDARR requirements
• Provide technical guidance to business stakeholders on data requirements and constraints
• Support business plan reviews with risk data insights and IT resource requirement assessments
• Manage relationships with external consultants and vendors supporting risk initiatives

Reporting & Documentation

• Prepare various risk and analytics reports for internal and external stakeholders
• Generate insights and recommendations from data analysis to support decision-making
• Document risk processes, controls, and methodologies
• Support the preparation of board papers and regulatory submissions

Operational Compliance

• Monitor compliance with risk policies and procedures across the organisation
• Identify instances of non-compliance and escalate appropriately
• Support internal and external audit activities related to risk management
• Maintain awareness of regulatory changes and industry developments

Continuous Improvement

• Identify opportunities to enhance risk management processes and systems
• Contribute to the development of the bank's risk culture and awareness
• Participate in cross-functional projects to improve risk management capabilities
• Support the implementation of risk technology solutions and innovations

3. Additional Responsibilities

• Provide backup support for other risk team members during peak periods or absences
• Participate in special projects and initiatives as assigned by the Head of Strategic Assurance
• Support crisis management and business continuity activities as required
• Maintain professional development through relevant training and certifications
• Contribute to the team's knowledge management and best practice sharing

ROLE REQUIREMENTS

Educational Requirements

• Bachelor's degree in a relevant field with strong IT, data, or quantitative components
• Professional certifications advantageous, or relevant risk, data management, or analytics credentials

Essential Experience

• Minimum 3-5 years in risk data management, regulatory reporting, or data governance roles within banking or financial services
• Demonstrated experience with BCBS 239 implementation or RDARR compliance projects
• Hands-on experience with data quality management tools and techniques
• Proven track record in regulatory remediation projects or compliance initiatives
• Experience working with South African banking regulations and SARB requirements

Technical Competencies

• Data Management: Proficiency in SQL, data modelling, and ETL processes
• Analytics Tools: Advanced Excel, with experience in Python, R, or SAS preferred
• Reporting Platforms: Experience with BI tools (Power BI, Tableau, or similar)
• Risk Systems: Familiarity with risk management systems and core banking platforms
• Data Governance: Understanding of data lineage tools and metadata management
• Cloud Platforms: Knowledge of cloud-based data solutions advantageous

Skills

Action Planning, Analytics Software, Budget Management, Computer Literacy, Data Analysis, Database Reporting, Data Compilation, Data Controls, Data Interpretations, Evaluating Information, Management Reporting, Numerical Aptitude, Report Review, Solution Analysis

Competencies

Business Insight

Communicates Effectively

Courage

Decision Quality

Ensures Accountability

Financial Acumen

Instills Trust

Manages Complexity

Education

Closing Date

24 January 2026 , 23:59

The appointment will be made from the designated group in line with the Employment Equity Plan of Old Mutual South Africa and the specific business unit in question.

The Old Mutual Story!