OM Bank - Head Credit Risk

At OM Bank, we strive to attract great people who are passionate about coming together for a higher purpose- building something unique and aspirational, always aiming to be the best they can be. We are rooted in our purpose of inspiring and enabling our customers to grow and sustain their prosperity.

Reporting to the Chief Risk Officer, the Head: Credit Risk (Line 2) is responsible for the Line 2 Risk oversight for Unsecured and Secured Credit risks portfolios across OM Bank. Areas of focus include, Origination, Account Management, Credit Limit Management, Collections, IFRS 9 Provisioning, Regulatory Reporting, Credit Risk Regulatory Reporting.

Responsible for overseeing the credit risk framework of a bank and its alignment with the Banks Act and the Regulations relating to Banks.

Represent OM Bank on credit industry forums at the Banking Association of South Africa (e.g. Heads of Credit, Heads of Debt Review). Share and socialise key insights and feedback from these forums internally to ensure that the bank’s credit practices remain aligned with industry standards and conform to agreed approaches.

Work closely with the Compliance and Legal teams to ensure that OM Bank’s frameworks, policies, and standards are fully compliant with all applicable regulatory requirements.

Oversee the bank's credit risk processes and its compliance with the directives of the Prudential Authority, South African Reserve bank and any related best practices.

Engagement with key Stakeholders is required to ensure alignment and tracking of progress across key Credit risks. There will be Line Management responsibility for 1 or more Risk Officers.

Collaboration with the other Risk teams is crucial given the interconnectedness of risks, and a working knowledge of processes in banking will be required. A strong understanding of regulations related to a Banking environment is also required.

Build a strong 2nd Line Credit Risk function that demonstrate:

Independence and objectivity

Strong analytical capability

Deep understanding of unsecured and secured credit risk dynamics

Ability to challenge constructively

Clear communication to senior stakeholders

ROLE REQUIREMENTS

Bachelor’s Degree and/or post-graduate qualification in Credit Risk management/ internal audit/ engineering/ finance/ business administration or a related field.

Extensive experience in managing secured and unsecured credit portfolios and leading credit change initiatives in a bank.

Proven experience (15+ years) in credit risk management within the Banking industry, with a strong understanding of credit origination, account and limit management, collections risk management, IFRS 9, stress testing, payments, credit processes and regulatory requirements.

Detailed understanding and experience in and with the Banks Act and Regulations relating to Banks, with a particular focus on credit risk and counterparty credit risk.

Sound knowledge of risk management frameworks, methodologies, and tools, such as risk assessment matrices, scenario analysis, and risk modelling software.

Solid Line1 Credit experience is advantageous.

Solid Planning, Integration and Execution skills.

Strong stakeholder management skills across all levels.

Strong leadership skills, including coaching and mentoring.

Excellent written and verbal communication skills, especially presentation skills.

Strong data analytical skills

Education

Bachelors Degree (B)

Credit Risk Oversight and Reporting

Provide independent oversight of unsecured lending activities conducted by the 1st line.

Ensure that credit risk practices align with the bank’s risk appetite framework (RAF).

Review and challenge credit strategies, policies, and decision frameworks.

Ensure compliance with internal policies, regulatory requirements, and industry standards.

Produce and present independent risk reports to:

Executive committees

Emerging risks

Deteriorating segments

Concentration risks

Ensure reporting is forward-looking and actionable (not just descriptive).

Provide input into the CRO, Executive Credit Committee, Executive Risk Committee on key Credit risks.

Provide relevant expertise and input when completing regulatory report submissions.

Provide reporting and insights at forums such as Excos, Risk Committees and other Management Committees etc.

Support reporting processes across the Credit Risk team.

Support with alignment of reporting between the Line 1 and Line 2 Risk teams.

Risk Appetite and Portfolio Monitoring

Define, refine, and monitor risk appetite metrics, including:

Approval rates

Expected credit losses (ECL)

Non-performing loans (NPLs)

Vintage curves and roll rates

Track portfolio performance across segments (e.g., origination cohorts, products, channels).

Escalate breaches of risk appetite with clear remediation actions.

Credit Policy and Strategy Review

Approve or provide independent challenge on:

Credit policies (e.g., affordability rules, scorecard thresholds)

Underwriting criteria

Limit assignment strategies

Ensure policies strike the right balance between:

Growth objectives

Risk tolerance

Validate that policy changes are evidence-based and data-driven

Provisioning and IFRS 9 Oversight

Provide 2nd line challenge on:

Expected Credit Loss (ECL) calculations

Staging allocations (Stage 1, 2, 3)

Assess reasonableness of:

Macroeconomic scenarios

Management overlays (post-model adjustments)

Ensure compliance with accounting and regulatory standards.

Stress Testing and Scenario Analysis

Conduct or review portfolio stress testing, including:

Economic downturn scenarios

Interest rate shocks

Unemployment impacts

Assess resilience of the unsecured portfolio under stress.

Provide input into ICAAP and capital planning.

Regulatory and Compliance Oversight

Ensure adherence to regulatory requirements (e.g., Basel, local prudential rules).

Review regulatory submissions related to credit risk.

Interface with regulators on:

Portfolio performance

Risk management practices

Ensure conduct risk considerations (fair lending, affordability, customer outcomes).

New Product and Change Risk Assessment

Review and challenge new product proposals and changes to:

Lending criteria

Distribution channels

Purpose-based Lending Initiatives

Use of alternative data for credit decisioning

Conduct risk assessments before implementation.

Ensure risks are properly identified, mitigated, and approved.

Collections and Recoveries Oversight

Oversee strategies for:

Early arrears management

Collections treatment strategies

Write-offs and recoveries

Ensure alignment with:

Customer fairness principles

Regulatory expectations

Issue Management and Remediation

Track and challenge remediation of:

Audit findings

Regulatory issues

Internal risk events

Ensure timely and effective closure of risk actions.

Stakeholder Engagement and Challenge

Act as a credible challenger to:

Business (Line 1 Credit)

Finance (ECL, provisioning)

Analytics teams

Influence decision-making while maintaining independence.

Engage at senior levels (Exco, Board committees).

Risk Management

Support management with the policy adoption, roll out and compliance.

Successfully collaborate with all levels of stakeholders to ensure strong risk management practices.

Ensure completeness of risk registers on risk management system

Risk appetite metrics review and monitoring

Provides objective oversight, monitors and reports on the maintenance of prescribed minimum standards in the Bank risk management methodologies, processes and data requirements, and initiates appropriate corrective action as may be required.

Takes a proactive, forward-looking approach to providing risk oversight, considering the full risk profile of the business/segment, risk events, KRI’s, RCSA’s, emerging risks and external factors.

Training of OM Bank employees on Risk Management

Combined Assurance

Risk assessments and thematic deep dives to support Combined Assurance Model

Identify assurance gaps and roadmaps to close gaps. Oversight on Line 2 and Line 3 activities and gaps

Continuous assessment of adequacy and effectiveness of controls as per the approved combined assurance model.

Stakeholder Management

Collaborates strongly with Management/Executive teams to ensure risks are managed appropriately and pro-actively

Provides support to the Line 1 risk owners, controls owners, risk indicator owners, management action owners and risk coordinators, so they are enabled to fulfil their risk management responsibilities.

Provides input into the annual review of risk profiles for the bank.

Strong collaboration is required with all Risk CoEs and other Assurance providers.

Team Effectiveness

Displays exemplary Role-Model Leadership behaviour in all engagements with the business

Execute responsibilities in line with the values of OM Bank

Creates a climate for optimal performance.

Balances own priorities while directing and motivating others.

Guides and directs staff to achieve operational excellence standards.

Drives a culture of high performance within team and in the business

Selects potential staff to sustain customer/client service delivery.

Ensure succession planning is in place within team and across risk and control owners

Adaptive Thinking, Business Requirements Analysis, Change Management, Current State Assessment, Data Compilation, Executing Plans, Oral Communications, Policies & Procedures, Policy Development, Presenting Solutions, Professional Presentation, Readiness Assessments, Strategic Planning