Phakamile (Phaks) Mainganya has been involved in credit and investment risk management for more than 15 years. He joined RMB in early 2020 as Deputy Chief Risk Officer and recently took on the role of Chief Risk Officer of RMB – leading a 200+ team of risk specialists across all risk classes of the bank, ranging from market, credit and investment risk to operational risk, compliance and financial crime.

Phaks is a CA(SA) with a B.Acc and B.Com from WITS, a Higher Diploma in Tax Law and Advanced Certificate in Banking Law from UJ. He served his articles with Deloitte and completed Executive Development Programmes at GIBS and WITS.

Before joining RMB, he was the Chief Risk Officer at the Industrial Development Corporation of South Africa Limited (IDC), where he introduced a more systemic and quantitive approach to managing risk. He is a member of the IDC’s Executive Committee and a non-executive director on some of its key subsidiaries.

He is energized by the diverse skills base of people at RMB and their can-do attitude, even under the most challenging of times. Phaks cherishes the opportunity that RMB offers to work across a very diverse client base and crafting solutions to some of the challenges that our clients face and South Africa at large.

His vision for RMB is to help the bank navigate these difficult and extremely difficult personal challenges that the people of South Africa are going through, including our own staff members.

He is passionate about contributing positively to the development of our country – using finance as an agent for social change and upliftment.

When he is not hard at work, he and his wife are fully occupied by their two young daughters. On a good week he will run three times a week in the mornings and complete the odd marathon.

Quotable quote

"The best time to plant a tree was twenty years ago, the next best time is today.” – Chinese proverb

RMB is a leading African Corporate and Investment Bank.