Head of 1st Line Risk and Control

Role Description

Summary of Focus

• Manage a team to successfully deliver 1st Line Risk Services for FNZ SA including Risk Event Management, Financial Crime, Risk Identification and Management and Audit engagement / management.
• The maintenance and development of our robust controls framework that limits breaches across FNZ SA.
• Work with FNZ senior management and Board(s) to implement a robust 3 lines of defense model in the region, including fit-for-purpose first line of defense risk management capabilities.
• Challenge and contribute to the development of short, medium, and long-term strategies (including action plans and targets) for the operational risk function
• Drive commercial sustainability within Function, reducing operating costs and leveraging technology to support where possible.
• Protect, maintain and enhance FNZ’s reputation with clients and regulatory bodies across South Africa.
• Provide clear strategic direction to the department with clearly defined deliverables.
• Clear MI (Management Information) delivered on a timely basis, which sets out all key Risks to the business, and supports a ‘no surprises’ culture

Specific Role Responsibilities

Provision of core services to FNZ (SA) including:

• Risk identification and assessment
• Implementation support of regulatory change across region
• Promotion of a compliant culture through education
• Liaise with colleagues within Risk & Compliance to ensure consistent approach of the risk and compliance framework
• Manage senior relationships across the global business, ensuring collaborative engagement and partnering to achieve the best results and protection for clients and the business.

External Liaison

• To attend clients’ senior risk committees
• Manage the relationship with external stakeholders in relation to Risk issues, including clients, custodians, consultants, potential clients, third parties, regulators, and non-executive directors.

Strategy

• Challenge and contribute to the development of short, medium, and long-term strategies (including action plans and targets) for the 1st line risk function
• Oversee the development of a strategic technology solution that meets the objectives of the business, allowing the firm to be nimble to future changes, upgrades, and enhancements.
• Manage change to the team, strategy, and methodology to adjust to changing regulations and expectations, ensuring the team are fully motivated and have clear career paths.
• Take ownership of the internal stakeholders and positively manage the relationships globally to create a positive, collaborative, and engaged relationship.

Process

• Oversee the error management process, including management of major errors, escalation, analysis, and reporting, including trend analysis across the group but delving into regional and functional lenses.
• Oversee the delivery of KRI’s in relation to risk appetite in a manageable articulate manner that is intuitive to the business.
• Support the business in continuous improvement and throughout the change programs across all functions.
• Oversee the delivery of Risk and Control Self assessments, provide analysis and reporting that adds value to senior management and the executive.
• Oversee the production of the AAF document in the most efficient manner possible.
• Financial Crime – Responsibility for ensuring robust control frameworks are implemented and embedded across FNZ (UK) 1st Line to limit the risk of financial crime.

People

• Develop staff through regular 1-1s, skip level meetings, feedback, and coaching
• Support the team of 1st Line Risk & Control Senior Managers to ensure exceptional delivery to both internal and external clients.
• Ensure that the employees in the role’s areas of responsibility are competent to carry out their roles and there is adequate training in place to reach and maintain that competence
• Manage the performance of all direct reports, addressing performance issues in a timely manner to ensure that there is no client or business impact.
• Encourage a culture of openness and ethical decision making within the team.
• Ensure all staff complete mandatory training in a timely fashion.

Governance

• Design and provide relevant and timely reporting to Boards and Committees as required.
• Ensure clarity over roles, reporting lines and accountability within the 1st Line Risk team
• Participate and chair governance meetings to ensure that FNZ is driving the right behaviours, to mitigate risk to the business
• Attend regular client senior forums and drive a positive and collaborative relationship with FNZ clients.
• Responsibility for ensuring robust control frameworks and risk aware culture is embedded across asset servicing.
• Secretary to Management Risk and Compliance Committee

Experience Required

• Your career has been spent within the world of Enterprise Risk Management, and you have a record or delivering gold-standard, market leading Enterprise Risk Management within the Wealth Management/Platform industry.
• Understanding of risk/compliance policies and processes for a financial services business
• Strong understanding of risk appetite and risk management frameworks
• Strong understanding of operational risk
• Strong understanding of compliance/regulatory requirements in financial services sector
• In depth knowledge of distinct types of operational risks, systems and processes including risk management frameworks
• Strong stakeholder management skills, especially in client relationship management.
• Senior Management experience.
• Extensive knowledge and understanding of the SA and global regulatory framework for risk management and operating appropriate systems and controls to meet those obligations.
• Holder of university degree and/or equivalent combination of education and experience.
• Holder Appropriate professional qualifications.

About FNZ Culture

Our culture is what drives us. It's at the heart of who we are and everything we do. It's what inspires, excites and moves us forward. Our ambition is to create a culture for growth, one that opens up limitless opportunities for our employees, customers and the wider world. At FNZ we know that great impact is only possible with great teamwork.

That’s why we value the strength and diversity of thought in our global team.

The FNZ Way is the cornerstone of what we do. It is comprised of four values that set the standard for how everyone at FNZ interacts with each other, with our customers, and with all our diverse stakeholders around the world.

Customer obsessed for the long-term

Think big and make an impact

Act now and own it all the way

Challenge, commit and win together

Read more about The FNZ Way and our values: www.fnz.com/culture

Commitment to Equal Opportunities

At FNZ, we recognise that diversity, equity and inclusion are important factors contributing to our success. We embrace the unique perspective and capabilities of our current and future employees, which will help us continue to drive innovation and achieve our business goals. Recruitment decisions at FNZ are made in a non-discriminatory manner without regard to gender, ethnicity/race, faith, age, nationality, gender identity, sexual orientation, marital status, socio-economic background, disability or military veteran status where all applicants and employees are valued and respected.

In addition, we want to ensure accessibility needs are well supported, if you require specific support please advise us.

About FNZ

FNZ is committed to opening up wealth so that everyone, everywhere can invest in their future on their terms. We know the foundation to do that already exists in the wealth management industry, but complexity holds firms back. 

We created wealth’s growth platform to help. We provide a global, end-to-end wealth management platform that integrates modern technology with business and investment operations. All in a regulated financial institution. 

We partner with over 650 financial institutions and 12,000 wealth managers, with US$1.5 trillion in assets under administration (AUA).

Together with our customers, we help over 20 million people from all wealth segments to invest in their future.