Consultant, Third Party Risk J o b D e s c r i p t i o n
JOB INFORMATION Job Description Name: Consultant, Third Party Risk Recommended Position Title: Consultant, Third Party Risk Countries applicable to: Group Job Code: 60054834 Job Family: Risk & Corporate Affairs Sub-function: Operational Risk Management
JOB PURPOSE Actively contribute to the development and implementation of Non-Financial Risk policies and frameworks to ensure the Standard Bank Group meets its regulatory obligations and identify, assess, and manage risks in order to minimises the likelihood of an adverse event impacting the organisation. Perform data analyses, data collection systems and other strategies to optimise statistical efficiency and quality on the Third-Party Risk Management system to enable effective decision-making.
JOB FUNCTIONS
Essential Functions
Develop and implement databases, data collection systems, data analytics and other strategies that optimise statistical efficiency and quality on the TPRM system for the Third-Party Risk Management (TPRM) Function. Perform various tasks and activities as a member of the TPRM Function in order to identify the types of events that could compromise the achievement of the SBG’s objectives, assessing the appetite for risk, putting in place measures to mitigate the risks that are deemed unacceptable. Identify, analyse, and interpret trends or patterns in complex data sets on the TPRM system in order to prepare reports for various forums and committees. Filter and clean data by reviewing reports and performance indicators to identify and report data concerns on the Groups TPRM solutions. Drive the Data Migration process of the TPRM system to the latest version to ensure alignment to best practices and enhance data quality. Continuously improve and maintain the data on the TPRM system to ensure the data is kept up-to-date and relevant for reporting purposes. Actively contribute to the facilitation and identification, evaluation, treatment, monitoring and reporting of non-financial risk events and incidents across all Segments and countries. Analyse complex data elements and systems, data flow, dependencies, and relationships in order to contribute to conceptual physical and logical data models on the ARAVO system. Provide guidance and technical support to Third parties and TPRM stakeholders on the TPRM end to end process. Continuously track issues on the TPRM system to ensure the data is kept up-to-date. Continuously escalate issues for remediation identified through data and trend analyses. Assist with internal audit activities, and provide support with remediation activities to contribute to clean audits. Highlight and communicate data quality issues identified during the data analysis process with the TPRM team. Follow up on outstanding tasks with business not yet completed on the TPRM workflow. Track and monitor on what has been completed to ensure accurate reporting. Act as the subject matter expert on the TPRM system in order to respond to Group TPRM users that have system and or TPRM process queries. Act as the Ask Risk Market Place custodian for the Third-Party Risk Management Function and respond to specific questions and actions.
Essential Functions
Perform various admin tasks as it relates to the TPRM Forum to ensure an effective and operational forum meeting. Facilitate the other non-financial risk activities and present risk/control topics in front of various stakeholders, including the Third- Party Risk Committee as and when required. Respond to TPRM queries from third party and internal stakeholders within the service level agreement timelines to ensure excellent customer service. Assume accountability to log all TPRM questions on NALA to ensure the system and questions are kept up to date and relevant.
QUALIFICATIONS
Education
Type of Qualification Field of Study Required/ Preferred And/Or
Diploma Risk Management Required and First Degree Risk Management Preferred
Work Experience
Experience Experience Details Required/ Preferred
3-4 years 3 Years’ experience working in the financial sector or supporting audit and assurance functions. Familiarity in operating in a highly regulated environment. Sound understanding of Non-Financial Risk principles.
Required
Total number of years' experience 5 years
Knowledge, Skills and Abilities
KSAs Proficiency
Excellent verbal and written communication and interpersonal skills with the ability to build and maintain relationships with internal and external stakeholders.
High
A high degree of self-motivation, independence, and the ability to work with minimal supervision to meet deadlines. High Ability to work effectively in a team environment. High Strong analytical and problem solving skills. High Intermediate to advanced Microsoft Office skills with a strong emphasis towards creation of macros in Excel High
Licences and Certifications
Licences/Certifications Licences/Certification Details Required/ Preferred
Certified Risk Management Professional (RIMS-CRMP)
Risk Management certification would be required. Required
Behavioural Competencies - Essential
Behavioural Competency Description
Checking Things Is meticulous in finding errors; ensures accuracy by being thorough and checking details; produces high quality work by being detailed.
Upholding Standards Behaves ethically and justly; is discreet and maintains confidentiality; meets commitments by acting with integrity
Behavioural Competencies - Essential
Behavioural Competency Description
Adopting Practical Approaches Applies practical skills when investigating issues; prefers to learn by doing; is practically minded and applies common sense.
Showing Composure Stays calm and relaxed during events; is not worried and tolerates stress levels; is composed in dealing with pressure
Articulating Information Is articulate in giving presentations; is eloquent and explains things well; projects social confidence when articulating information
Challenging Ideas Prepared to disagree and question assumptions; challenges ideas and established views; comfortable arguing own perspective
Convincing People Is comfortable having to persuade others; shapes opinions by being outspoken; seeks to negotiate with others
Documenting Facts Writes fluently when documenting facts; understands arguments logically; focuses on finding facts
Establishing Rapport Builds rapport and puts people at ease; is engaging and welcomes people; finds it easy to make friends
Interpreting Data Interprets data rationally by quantifying issues; applies technology as a means to evaluating data; evaluates information objectively.
Managing Tasks Manages tasks by being organised and methodical; plans activities systematically; sets priorities for tasks
Producing Output Is focused on activity and works quickly; keeps busy and maintains productivity; is comfortable multi-tasking to produce output
TECHNICAL COMPETENCIES Competency Group Information Technology
Competency Level Competency Description
Agile Principles 4. Advanced Knowledge of Agile principles including scaling, scrum of scrums, multiple teams and DEVOPS
Big Data Frameworks and Tools 3. Seasoned Ability to manipulate and structure amounts of datasets that are so enormous, customary data preparing software can't oversee them.
Data Analysis 4. Advanced The ability to analyse statistics and other data, interpret and evaluate results, and create reports and presentations for use by others.
Competency Group Governance - Risk - Compliance
Competency Level Competency Description
Evaluating Risk Management Effectiveness
3. Seasoned The ability to determine if risk management and control measures are achieving the desired results and mitigating risks at the expected level.
Risk Awareness 3. Seasoned General awareness of risk management practices in a financial services organisation.
Risk Identification 3. Seasoned The examination of the essential elements of risk such as; assets, threats, vulnerabilities, safeguards, consequences and the likelihood of the threats materialising.
Risk Management 3. Seasoned Demonstrates knowledge and understanding of risk management methodologies, tools, governance structures and regulatory requirements for good management of risk.
Risk Measurement 3. Seasoned The ability to define and analyse risk identification information in a quantitative and/ or qualitative way.
Risk Reporting 3. Seasoned The ability to prepare quantitative and qualitative analysis on the risk landscape in the business including interpretation and analysis for use by business users.
Competency Level Competency Description
Risk/ Reward Thinking 3. Seasoned The ability to provide due consideration to risks, rewards and the cost of control measures in evaluating business opportunities, process and system changes.
Competency Group Data
Competency Level Competency Description
Data Quality 3. Seasoned The ability to implement operational techniques and activities that are used to fulfil requirements for data quality including: improvement, control, management or assurance of data quality.
Data Compliance 3. Seasoned The ability to interpret regulations, laws and business requirements that apply to data and to provide information to business on how to comply.
SCOPE
People Management:
# Direct Resources Managed # Indirect Resources Managed
Individual Contributor
Managerial Archetype
Contact with Others
Contacts are primarily within the department or function with occasional cross-functional interfaces. Some limited external customer contact on routine matters.
Contacts Description Engage with internal stakeholders within the Risk Management Function but also business stakeholders across the different Segments and Africa Regions countries as it relates to Third-Party Risk Management. Respond to queries on the ARAVO system.