Head of Operational Risk at New Retail Bank in Cape Town

This is a senior leadership opportunity to own the design, implementation and ongoing effectiveness of the Operational Risk and Resilience Management Framework for a newly established retail bank in Cape Town. You will help build a proportionate, scalable control environment that supports accessible, technology enabled financial services across lending, payments, insurance and everyday banking.

What you will be doing:

• Design, implement and maintain the bank operational risk and resilience management framework
• Recommend the board approved operational risk appetite, supporting metrics and monitoring approach
• Lead risk and control self assessments across business units, including identifying key risks and testing control design and effectiveness
• Own the operational loss event and near miss management process, including root cause analysis, thematic reporting and remediation tracking
• Independently test and challenge first line operational controls across channels, payments and product teams
• Own business continuity and operational resilience management, including business impact analyses, recovery planning and periodic testing
• Design and oversee third party and outsourcing risk management, including risk assessments, contractual risk clauses and ongoing vendor monitoring
• Coordinate with Technology and Cyber Risk functions to ensure appropriate oversight without duplicating specialist coverage
• Prepare operational risk dashboards, RCSA outcomes and loss event reports for Exco, the Board Risk Committee and relevant Board sub committees
• Escalate material risk events, control breaches and emerging operational risk themes through the appropriate governance channels
• Support readiness for Prudential Authority inspections and thematic reviews relating to operational risk and resilience
• Coordinate with Financial Crime, Regulatory Compliance, Conduct and POPIA, Legal and Internal Audit functions to ensure coherent and non duplicative risk coverage
• Champion proactive risk ownership across the first line rather than positioning operational risk solely as a second line responsibility
• Design and deliver operational risk training and awareness programmes in partnership with Compliance and Human Resources
• Build and lead a capable operational risk function, including recruitment, coaching and succession planning

Why join us: Establish and lead an operational risk function within a newly entering retail banking environment. Help shape a scalable governance framework for simple, accessible and low cost financial services. Work across a broad operational risk landscape spanning processes, products, people, third parties, data, technology, cyber, physical security, financial reporting and model risk. Contribute directly to the development of a resilient banking operation supported by an extensive retail and digital cu

• A bachelor degree in Risk Management, Finance, Actuarial Science, Commerce or a related discipline
• At least 10 to 12 years experience in operational risk management
• A minimum of five years experience in a senior leadership role within a bank or other regulated financial institution
• Demonstrated experience designing or materially enhancing an operational risk and resilience management framework
• Proven experience with RCSA methodology, operational loss event and incident management, and business continuity management
• Experience engaging with the Prudential Authority on operational risk and resilience matters
• Deep technical knowledge of operational risk frameworks, RCSA methodology and Basel operational risk capital requirements
• Strong understanding of business continuity management and operational resilience in the context of South African retail banking
• Ability to develop pragmatic, proportionate frameworks suited to a new banking operation rather than relying on legacy bank complexity
• Confidence preparing reports and presenting to Board and Exco level governance forums
• Strong people leadership capability, with the ability to establish and develop a function from a small base
• Strategic risk judgement, independence of mind and resilience under regulatory scrutiny
• Strong influence, stakeholder management and communication skills across first line teams and senior governance structures
• Ability to balance customer experience and operational efficiency with appropriately designed controls
• Nice to have: postgraduate qualification in a relevant discipline
• Nice to have: recognised risk qualification such as FRM, PRM or an operational risk management certification
• Nice to have: experience working across retail credit, payments, insurance, digital financial services or other high volume customer environments
• Nice to have: working knowledge of the Banks Act 94 of 1990 and related banking regulations
• Nice to have: familiarity with Prudential Authority directives and guidance on operational risk and resilience
• Nice to have: knowledge of King IV principles relating to risk governance and combined assurance
• Nice to have: understanding of POPIA requirements where operational incidents involve personal information
• Nice to have: knowledge of the National Payment System Act 78 of 1998 as it applies to payment process risk

• Design, implement and maintain the bank operational risk and resilience management framework
• Recommend the board approved operational risk appetite, supporting metrics and monitoring approach
• Lead risk and control self assessments across business units, including identifying key risks and testing control design and effectiveness
• Own the operational loss event and near miss management process, including root cause analysis, thematic reporting and remediation tracking
• Independently test and challenge first line operational controls across channels, payments and product teams
• Own business continuity and operational resilience management, including business impact analyses, recovery planning and periodic testing
• Design and oversee third party and outsourcing risk management, including risk assessments, contractual risk clauses and ongoing vendor monitoring
• Coordinate with Technology and Cyber Risk functions to ensure appropriate oversight of IT and cyber related operational risk without duplicating specialist coverage
• Prepare operational risk dashboards, RCSA outcomes and loss event reports for Exco, the Board Risk Committee and relevant Board sub committees
• Escalate material risk events, control breaches and emerging operational risk themes through the appropriate governance channels
• Support readiness for Prudential Authority inspections and thematic reviews relating to operational risk and resilience
• Coordinate with Financial Crime, Regulatory Compliance, Conduct and POPIA, Legal and Internal Audit functions to ensure coherent and non duplicative risk coverage
• Champion proactive risk ownership across the first line rather than positioning operational risk solely as a second line responsibility
• Design and deliver operational risk training and awareness programmes in partnership with Compliance and Human Resources
• Build and lead a capable operational risk function, including recruitment, coaching and succession planning