Let's Write Africa's Story Together!

Old Mutual is a firm believer in the African opportunity and our diverse talent reflects this.

Job Description

Old Mutual is a premium African financial services organisation that offers a broad spectrum of financial solutions to retail and corporate customers across key market segments. 

Old Mutual Corporate is a dominant player in the traditional employee benefits industry with an asset based revenue and profit model. Our clients include employers, retirement funds and other benefit funds within small and large corporates. We do this via our range of world class solutions to employees of our clients, who range from small businesses to large corporates in both the private and public sector.

We are rooted in our purpose of Championing Mutually Positive Futures Every Day and believe that a great customer experience is anchored in a great employee experience.

ROLE DETAILS

Role overview

An exciting opportunity exists within Old Mutual Corporate to manage the Small Medium Enterprises (SME) Lending portfolio. The main pillar is to manage credit risk  in line with the strategic objectives, external environmental factors and risk appetite. In addition, the Banking Specialist will be accountable for managing market risk, capital risk and liquidity risk relating to this book, in line with banking best practice.

Key Result Areas

Credit Risk

Responsible for deriving the OML credit strategy across the OMC credit portfolio by considering the growth prospects, return expectation of the underlying opportunities and the corresponding the risk profile.Development and implementation of the OMC SME Lending Risk framework.Deep understanding of SME credit risk, including deal structuring, financial statement analysis, and an understanding of financial covenants.Regular portfolio monitoring and reporting, including tracking key performance indicators such as CAR, CLR, NPL, and collection rates. This should involve conducting detailed trend analysis to identify potential risks, particularly by sector and borrower concentration to allow decisions to be made regarding the loan book, loan products and the loan processes.Ability to interpret and apply macroeconomic trends to inform lending decisions.Identify the emerging risks across the credit landscape, and proactively adjust the credit strategy in response to these risks.Development of the risk budgeting tools and methodologies for credit risk, including the methodology to aggregate various risk portfolios. As part of setting the credit strategy, cascade the risk appetite to the various credit opportunities to ensure optimize risk adjusted returns. Develop and enhance the Credit Reporting & Monitoring framework which meets the requirements of various external & internal stakeholders.

Market, Capital and Liquidity Risk

Leading the development of trading and banking book market risk, liquidity risk and capital risk measurement, monitoring and reporting capabilities including international standards and practices.Implementation of market risk, credit risk and capital risk policies, standards, and internal controls, and ensure its compliance within OML risk framework.Setting market risk, credit risk, liquidity risk and capital risk appetite including establishing benchmark, tolerance levels, triggers, and actions to manage within the approved appetite.Setting market risk appetite including establishing benchmark, tolerance levels, triggers, and actions to manage the approved appetite.Supporting the establishment and embedment of a strong model governance framework and infrastructure covering the end-to-end model lifecycle for liquidity, market, and capital risk consistent with the OML enterprise model risk management framework, industry best practice and regulatory guidance.

Other

Assist with delivery of relevant reporting to Boards and management Committees. Attend Governance committees charged with the responsibilities to manage or control market, liquidity, capital and credit risk.Support capital & funding optimization and effective resource allocation.Develop strong Stakeholder Relationships by interacting across OML Business Units, Group Risk, Group Balance Sheet Management and supporting functions and Lending businesses.

Requirements: Skills, Qualifications and Experience required

Minimum Requirements:

Relevant financial qualification and relevant post-graduate qualification geared toward finance and investments10+ years of relevant experience in either Banking, with a strong preference for candidates with exposure to Credit Management relating to the SME marketAbility to work independently as well as part of a team.Excellent communication and presentation skills, with the ability to clearly and concisely convey information to internal and external stakeholders, including senior management, the lending partner, and potentially audit and risk committees.Excellent analytical and writing skills with attention to detail, logical thought processes and sound judgment and decision-making abilities.Ability to maintain confidentiality of all information both from internal and external sources.Excellent organisational, people, planning and prioritising skills.Have solid business acumen.Adaptable and able to cope with a dynamic environment.Reliable, have integrity and display a professional approach.

Manage and coordinate the company's financial function, including general accounting, cost management, budgeting, and payroll, in accordance with corporate policies and procedures to meet the company’s business requirements. This is the top finance position for a specific location, but it is governed by policies and frameworks established by the larger corporation.

ResponsibilitiesFinancial Policies, Guidelines, and Protocols

Lead and coordinate the development and delivery of financial policies, guidelines, and protocols across the business to ensure the company complies with regulations and good financial practice.

Financial Management and Control

Manage a significant portion of the organization's financial management and/or control processes.

Financial Modeling

Undertake strategic and tactical financial analysis, modeling, and evaluation to support business leaders in their decision-making.

Data Collection and Analysis

Make authoritative recommendations that have a significant impact on the business over the short and long term. Recommendations could be technical or professional in nature.

Organizational Risk Management

Manage a significant portion of the organization's risk management and/or risk control processes. This includes contributing to the development and implementation of risk management policies and procedures.

Financial Information Systems

Own the development of financial systems for the company or group. Own the governance of finance systems to ensure they adhere to group accounting and statutory rules.

Functional Strategy Formation

Lead the development and implementation of strategy for an important area of responsibility within a function, anticipating complex issues, challenges, and opportunities and ensuring integration with wider functional strategy.

Information and Business Advice

Provide authoritative specialist advice to senior managers at the business unit or regional level to enable the implementation of policy, projects, and change initiatives.

Leadership and Direction

Identify and communicate the actions needed to implement the function's strategy and business plan within the business area or department; explain the relationship to the broader organization's mission, vision, and values; motivate people to commit to these tenets and do extraordinary things to achieve local business goals.

Performance Management

Manage and report on performance within the department or area of responsibility; set appropriate performance objectives for direct reports and hold individuals accountable for achieving them; take appropriate corrective action where necessary to ensure the achievement of annual business objectives.

Organizational Capability Building

Evaluate the capabilities of staff within the department to identify gaps and prioritize development activities. Implement the organization's formal development frameworks within the area of responsibility. Coach and mentor others to support the development of the organization's talent pool.

Budgeting

Manage budget plans for a department. May involve development or delivery or both.

Skills

Accounting, Adaptive Thinking, Budget Management, Data Compilation, Data Controls, Evaluating Information, Executing Plans, Financial Accounting, Financial Acumen, Financial Auditing, Financial Modeling, Management Accounting, Numerical Aptitude, Policies & Procedures

Competencies

Balances Stakeholders

Business Insight

Decision Quality

Ensures Accountability

Financial Acumen

Instills Trust

Manages Complexity

Optimizes Work Processes

Education

NQF Level 9 – Masters

Closing Date

11 February 2025 , 23:59

The appointment will be made from the designated group in line with the Employment Equity Plan of Old Mutual South Africa and the specific business unit in question.

Old Mutual Limited is pro-vaccination and encourages its workforce to be fully vaccinated against Covid-19.

All prospective employees are required to disclose their vaccination status as part of the recruitment process.

Please refer to the Old Mutual’s Covid-19 vaccination policy for further detail. Kindly note that Old Mutual reserves the right to reinstate the requirement to vaccinate at any point if it is of the view that it is imperative to do so.

The Old Mutual Story!