Key PurposeTo define and execute risk management practices, methodologies and governance arrangements that ensure that the JSE, its subsidiaries and their clients are adequately protected against counterparty credit risk, investment risk and liquidity risk in order to create robust framework of market integrity and enable the JSE to operate the markets it so chooses.

Business and Financial Results Management

· Apply cost effectiveness principles in planning and delivery to contribute to achievement of divisional financial targets

· Provide relevant input into the formalisation for the divisional budget (expenses forecasts, training needs)

· Provide strategic thinking and contributions to crafting of departmental business plan to ensure own delivery of focus areas for the year in support of strategy

· Provide professional advice and guidance with regards to the implementation of risk management practices, methodologies and policy framework

· Responsible for the risk identification, measurement, monitoring and reporting of financial risks across the JSE's business lines

· Coach team in order to ensure that tasks are completed in line with expected quality requirements and a culture of risk awareness is embedded across the post-trade area

· Establish and drive approval process for governance arrangements of the Central Counterparty

· Ensure systems, products or projects delivered contributes to improve client/JSE service by providing input on budgets, resources required and process based on the understanding of costs, business objectives and relationship with external suppliers and stakeholders

Stakeholder Relationship Management

· Build strategic JSE / Industry/ Global network of thought leaders and relationships utilising social media, attending and presenting at conferences and training interventions

· Maintain relationships with internal and external stakeholders (in particular clearing members of JSE Clear and members of JSE cash equity market) through structured processes in order to understand their requirements on risk advisory services and respond appropriately

Process Management

· Manage own delivery against agreed delivery plan and set timelines, identify obstacles to delivery and take appropriate action where required

· Define, implement and maintain a credit and liquidity stress test framework for JSE Clear by considering international best practice, regulatory minimum standards and consulting with the clearing members in order to ensure that JSE Clear has sufficient financial resources to withstand a stressed market event

· Define, recommend for approval and implement a sound risk management framework for the JSE cash equities market by quantifying the exposure faced by the JSE and market participants, quantifying stressed exposures and quantifying any risk mitigants needed to ensure that the JSE is adequately prepared to facilitate settlements in the cash equity market

· Provide specialist support to all internal stakeholders by responding to complex quantitative queries in order to ensure overall business compliance with the JSE risk management guidelines

· Define and quantify the JSE's economic and regulatory capital requirements by considering all the risks the JSE could face, defining methodologies to quantify these risks, agreeing with senior management and the board how much risk the JSE should be taking and assessing the funds available to provide protection against these risks

· Advise the various risk committees on the risk tolerance levels of the JSE and JSE Clear

· Draft and submit recommended risk policies to the JSE Clear's various governance committees (JSE executive risk committee, JSE Clear Board Risk Committee and JSE Clear Board) to be used to define risk management

· Influence and persuade governance committee members with regard to policy and risk management decisions by presenting arguments effectively to strengethen the clearing house's risk management

· Set a priority list of tasks to be executed by the team on an on-going basis (considering guidance given by various risk committees) and allocate them in line with skill sets and resources available in order to meet business requirements

· Coordinate, review and oversee any regulatory submissions and queries, peer interaction and client information request regarding the JSE and JSE Clear risk management by allocating submitted queries to relevant personnel and reviewing their submissions prior to getting back to stakeholders in order to ensure quality query resolution

· Provide feedback on progress with regard to key responsible areas by preparing reports and presenting them with insight and recommendations to various structures (JSE Board, JSE Equities Clearing and Settlements Advisory Committee, JSE Clear Risk Committee, JSE Clear Quantitative Working Group etc) in order to enable decision making

· Update documents relating to International Organisation of Securities Commission (IOSCO) qualifying Central Counter Party (CCP) risk management standards to continue to provide capital relief to JSE Clear's banking clearing members

Qualifications and Experience

· Honours Degree in Mathematics, Statistics, Economics, Actuarial Science or related

· At least 5 - 10 years in a risk manager role in a financial markets environment

· Experience in banking regulation or interaction with national regulators preferred.

· Proven ability to oversee a number of risk types, ideally including credit, market, operational, investment, regulatory and strategic risk and specifically liquidity, refinancing, concentration and counterparty risk.

· Knowledge of regulatory environment and key regulatory regimes.