Operational Risk Manager

About Discovery 

Discovery’s core purpose is to make people healthier and to enhance and protect their lives. We seek out and invest in exceptional individuals who understand and support our core purpose, and whose own values align with those of Discovery. Our fast-paced and dynamic environment enables smart, self-driven people to be their best. As global thought leaders, Discovery is passionate about innovating in order to not only achieve financial success, but to ignite positive and meaningful change within our society. 

About Discovery Bank 

Discovery Bank is a bank like no other – a shared-value bank, designed with our clients in mind. We’re all about sharing the value that clients create when they manage their money well, back with them through exceptional interest rates and rewards. Our Vitality Money programme measures how well clients manage their finances, informs them of what it means to be financially healthy, and empowers them with the knowledge to get enhanced rewards for managing their money well. If you’re adaptable, a problem-solver, always questioning the way things are done, passionate about doing what is right, and obsessed with providing a quality service experience, we have a job for you where you can be your best in an environment that’s safe and nurturing. 

Job Purpose

The Operational Risk Manager plays a critical role in safeguarding Discovery Bank’s operational resilience, financial stability, and reputation by proactively identifying, assessing, and managing risks across the organisation. This strategic leadership role involves overseeing the Bank’s operational risk framework, driving a risk-aware culture, and ensuring that risk management practices align with regulatory requirements and industry best practices.

The incumbent will provide expert guidance to senior management, contribute to strategic decision-making, and enhance risk governance to support the Bank’s long-term sustainability.

 Areas of responsibility may include but are not limited to

• Lead the identification, assessment, and mitigation of operational risks across all business units, ensuring a proactive and integrated approach to risk management.
• Deliver in-depth risk analysis and insights to executive leadership and governance committees, providing strategic recommendations to enhance risk resilience.
• Drive the continuous enhancement of operational risk policies, frameworks, and methodologies to strengthen risk governance and align with evolving regulatory and industry standards
• Champion a strong risk-aware culture by designing and implementing training initiatives, advisory programs, and strategic engagements with senior stakeholders
• Monitor regulatory developments and emerging risks, ensuring the Bank remains ahead of industry trends and fully compliant with all applicable risk regulations.
• Oversee the operational risk incident management process, ensuring timely identification, root cause analysis, and remediation of risk events to minimize impact and recurrence.
• Implement and enhance risk assessment tools, key risk indicators (KRIs), and real-time monitoring dashboards to provide meaningful insights into risk exposures and trends.
• Engage with business units, compliance, internal audit, and assurance providers to ensure a cohesive and effective approach to risk mitigation.
• Strengthen the Bank’s risk and control self-assessment (RCSA) process by embedding a structured review mechanism, ensuring control effectiveness and accountability across the organisation.
• Act as a trusted risk advisor to senior management, fostering strategic partnerships to embed risk-conscious decision-making at all levels of the Bank

Personal Attributes and Skills

• A sound knowledge of the financial / retail banking industry, the mechanics of its operation and its trends. Familiarity with banking specific and other relevant legislation and regulations (e.g. Banks Act, Basel, TCF, POPI, PCI) is useful.
• Solid understanding of risk management methodologies
• Communication and presentation skills.
• Must be able to critically evaluate business information.
• Critical thinking and problem solving skills
• Adaptability and resilience
• Must be able to work autonomously and within a team.

 Education and Experience

• Bachelor’s degree in commerce, Finance, Risk, Mathematical Science or Accounting (Essential)
• Working knowledge of GRC (Governance, Risk and Compliance) systems is an advantage.
• Minimum 3- 5 years in risk management or internal audit experience
• Must have a strong knowledge of financial, strategic, market, credit, financial crime, business, liquidity, regulatory and operational risks.
• Experience in financial services and banking in particular
• Working knowledge of GRC (Governance, Risk and Compliance) systems is advantageous.

Competencies

• Strategic Thinking & Decision Making
• Governance and Policy Development
• Stakeholder Engagement & Influence.
• Leadership & Team Collaboration.
• Regulatory and Compliance Knowledge

EMPLOYMENT EQUITY   
                             
The Company’s approved Employment Equity Plan and Targets will be considered as part of the recruitment process. As an Equal Opportunities employer, we actively encourage and welcome people with various disabilities to apply.