Department Head: Risk Management

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Purpose Statement

• To provide strategic and functional leadership across the Risk Management department, integrating the organisation’s risk management strategy with the relevant tactical and operational execution to ensure coherent direction, consistent standards and effective delivery across multiple risk teams and domains.
• To hold delegated authority for departmental strategy, resource trade-offs and risk prioritisation, embedding a strong risk culture and ensuring effective, sustained implementation of the organisation’s risk management framework in alignment with organisational goals, regulatory requirements and Board-approved risk appetite.

Education (Minimum)

• Bachelor's Degree in Actuarial Science
• Actuarial Society of South Africa Technical Member (TASSA) / Actuarial Society of South Africa Fellow (FASSA / CERA)

Knowledge and Experience

Experience:

• 10+ years' experience in the financial services industry, preferably including at least 6 years in risk and in a senior leadership role with accountability for a large risk department, function or organisational unit
• Proven experience owning and delivering departmental/sub-functional risk strategy, including resourcing and budget trade-off decisions across multiple teams or risk domains.
• Demonstrated experience leading and developing multiple risk managers/teams, including succession planning and capability building at a senior level.
• Strong background in relevant domain i.e. banking regulations, capital markets, operational risk, insurance, ICAAP and Basel-aligned risk frameworks.
• Experience overseeing Insurance risk, operational risk and resilience, solvency and capital management, and risk data maturity
• Experience engaging regulators, auditors, consultants and other external stakeholders
  
  Knowledge:
• Enterprise risk management principles and their application within an Insurance business or divisional environment
• Risk frameworks, risk appetite, risk tolerance and risk evaluation matrices
• Insurance regulatory and industry frameworks, including Prudential Standards for Insurers and relevant ASISA requirements
• Own Risk and Solvency Assessment (ORSA), solvency and capital management considerations within an Insurance environment
• Operational risk and resilience principles and their application within Insurance
• Risk governance, regulatory requirements and emerging Insurance risk practice
• Risk data governance, management information and risk performance indicators
• Emerging technologies, including the responsible use of artificial intelligence in risk management

Key Performance Areas

Risk Department Strategy, Planning and Functional Direction

• Own the development and execution of the Risk Management department’s strategy and operating model, translating organisational and Insurance business priorities into a coherent departmental plan
• Shape the departmental delivery model by defining annual priorities, risk-domain focus areas and key operational requirements
• Hold delegated authority for resource allocation, departmental budget and capacity across risk teams and priorities, making appropriate trade-offs to support business outcomes
• Provide proactive, forward-looking risk insight that informs Insurance business strategy and planning
• Remain abreast of Insurance regulatory change, industry developments, emerging technologies and best practice relevant to risk management
• Own the day-to-day functioning and sustained performance of the Risk Management department.

Departmental Management, Governance and Risk Oversight

• Ensure integration between risk processes, systems, teams and partner functions, including Compliance, Legal, Finance and Internal Audit
• Establish and embed performance measures, review mechanisms and governance forums to support departmental delivery and address material performance impacts
• Provide oversight of operational risk and resilience, ORSA, solvency and related Insurance capital management considerations
• Own departmental adherence to applicable Insurance regulatory, governance and internal policy requirements and escalate material risks appropriately
• Analyse operational and risk data and insights to support decision-making, prioritisation and continuous improvement

Leadership of the Risk Management Department

• Build and maintain an effective departmental structure spanning multiple risk teams and domains, ensuring appropriate span of control and efficient delivery
• Lead, develop and hold managers and specialists accountable for consistent standards, capability and quality of delivery
• Provide direction, coaching and support to departmental leaders and teams to drive performance, collaboration and continuous improvement
• Lead workforce planning, recruitment, talent development, succession planning and performance management across the department
• Embed a strong risk culture and act as a senio

Skills

• Analytical Skills
• Communications Skills
• Decision making skills
• Influencing Skills
• Leadership Skills
• Planning, organising and coordination skills
• Presentation Skills
• Reporting Skills
• Strategic Thinking Skills

Additional Information

• Clear criminal and credit record

Capitec is committed to diversity and, where feasible, all appointments will support the achievement of our employment equity goals.