Job Details

Description

JOB PURPOSE

This role is responsible for providing management assurance on the effectiveness of controls identified to manage risks in the bank. The role holder will also be responsible for assisting the Head of Business Assurance develop risk responses and reporting on risk exposures to the Risk Oversight Committee. He/she will ensure that the department performs its core functions of coordinating internal controls over financial reporting, business reviews, oversee the validation of audit and other control issues as well as conducting post implementation reviews on projects and products.

Under the supervision of the Head Business Assurance , the following are among the Job Key Responsibilities:

• Assist with timely identification, assessment, mitigation, reporting and escalation of all identified Operational Risk Exposures.
• Assist in the identification of new business risks and implementation of appropriate controls to mitigate these risks.
• Conduct Post Implementation Reviews on delivered products and projects as agreed with sponsors
• Assist stakeholders across the business in the management and implementation of the Operational Risk Frameworks and policies.
• Assist with monitoring the implementation of action plans to address operational risks on the Risk Control Matrix.
• Assist with Monitoring the implementation of action plans to address control issues raised during business review and ICORF controls testing exercise.
• Conduct awareness training on the ICORF process and Business Reviews
• Preparation of key reports including the Board Risk report and other relevant reports
• Undertake business assurance reviews and control self-assessments to determine whether internal controls including controls over Financial Reporting are robust and functioning efficiently and effectively.
• Prepare and submit business assurance review reports identifying findings and making recommendations for action.
• Report on the status of business assurance review recommendations to the Risk Oversight Committee on the monthly Basis & a quarterly basis to the Risk and Compliance Committee as required
• Undertaking the Post Implementation Reviews of projects as agreed with project sponsors
• Assist with the validation of audit issues and all findings from other reviews
• Responsible for the review and monitoring business unit’s application of risk responses and mitigation strategies.
• Assist the Head of Business Assurance ensure appropriate ownership of risk within the Business.
• Assist the business with risk assessment of process changes that could significantly impact the entity’s financial reporting and the system of internal control
• Assist business in responding to risks resulting from those changes in the processes.
• Responsible for the preparation of an ongoing risk assessment, with proper development of monitoring and testing.
• Assist with the implementation of a process to establish line of business accountability.
• Assist with managing risk mitigation and escalation and reporting processes.
• Monitor risk and communicate information to the relevant stakeholders to ensure the continued effectiveness of risk management strategy.
• Assist with the review and validation of updated business units’ control processes.
• Deliver training to line of business personnel, risk management staff and others on entity wide and operational risk best practices and other industry best practices.
• Provide authoritative and consultative advice and support to management and employees including subsidiaries
• Help in the response to internal and external audits and requests for information.
• Assist in the evaluation of audit and examination findings and implementation of corrective action and needed responses.

INTERNAL/EXTERNAL CONTACT

• External: Bank of Zambia

• Internal: All internal Business Units

Requirements

QUALIFICATIONS AND EXPERIENCE

• Grade 12 Certificate with Credit or above mandatory in Mathematics and English and any other three subjects
• University Degree in Computer Science, Economics, Accountancy, Banking or Business Administration
• Zambia Qualifications Authority (Zaqa) Verification Certificate for Tertiary Qualifications
• Minimum of five (5) years’ professional experience in a similar role. Experience in the banking sector will be added advantage
• Must be a member of the Institute of Operational Risk (IOR)/Global Association of Risk Professionals (GARP), The Information and Communications Technology Association of Zambia (ICTAZ) or any internationally recognized risk or Information Technology institutional.
• Good knowledge of banking procedures, products and services

JOB CORE COMPETENCIES

• Delighting Customers
• Drive for Results
• Teamwork
• Planning and Optimizing
• Interpersonal skills