Operational Risk Analyst

The successful candidate will be responsible for the following key performance areas:

• Develop and implement policies, procedures, frameworks and standards specific to Policy and Regulation and Licensing Division’s (PRLD) risk and compliance management.

• Proactively identify, assess and respond to new or emerging payments, risks arising from changes in the payments ecosystem system, regulatory reforms by other regulators and standards/principles issued by standard setting bodies.

• Analyse risks associated with policy, regulatory, licensing and authorisation environments and develop risk frameworks that support the mitigation of these risks.

• Evaluate the effectiveness of policies, regulations and directives issued by the PRLD from a risk perspective and recommend changes or improvements.

• Design, monitor and maintain PRLD control systems to deal with violations of legal rules, regulatory requirements, memorandum of understanding (MOUs) and internal PRLD policies.

• Collaborate with the National Payment System Department’s (NPSD) Risk and Compliance Unit, Risk Management and Compliance Department (RMCD) and industry structures to manage policy and regulatory risks and support reporting to the governance structures of the SARB.

• Conduct relevant risk assessments (e.g. operational risk assessments and cyber security), collect and analyse documentation, statistics, reports and research/market trends impacting the policy and regulation environment.

• Compile management reports, heat maps and risk assessments to inform policy and regulatory processes. 

• Coordinate PRLD strategic risks input into the department’s strategic risk register.

• Contribute to business continuity plans impacting the policy and regulation division, to limit risks affecting the NPSD and NPS.

• Facilitate the PRLD’s remediation or closure of findings emanating from internal audits, external audits and/or any other internal/external assessment/evaluation reviews (e.g. Financial Action Task Force, Financial Sector Assessment Program and periodically monitor and report on the status thereof.

• Build payment risk awareness among PRLD personnel by providing support and training.

• Keep abreast of local and global trends, threats, opportunities and plausible scenarios relevant for the payments’ ecosystem risk management landscape.

• Build and maintain sound professional relationships with internal and external stakeholders through effective collaboration and teamwork.