Key Responsibilities
Design Risk and Compliance framework and Defining risk tolerance limits to ensure risk remain within the tolerance rate set by the board.
Develop and review periodically Risk MIS and Portfolio Quality reports for active Risk Management and ensuring alignment with the set tolerance levels.
Ensure and maintain a sound corporate, retail and investment portfolio, hence minimizing losses and maximizing return.
Update Senior Management / Board of Directors on all matters related to Risk & Credit Management.
Ensure efficient due diligence process within the organization for Risk Management,
Ensure an effective Risk & Credit systems are in place to optimize the credit & risk reporting process in order to meet the business requirements.
Development and implementation of Risk & Credit Management Policies and Frameworks for all risk and Businesses areas,
Ensure risk / reward balance and alignment with the market.
Member of Executive Committee, Management Committee, Board Credit Committee, Collection Committee, Investment committee, Risk Management Committee and ALCO.
Participate and contribute on all strategic matters of the bank with respect to its local and overseas operations and future business and expansion plans.
Retain a team of competent risk management professionals with necessary succession planning to ensure business continuity.
Meet and present to delegates from rating agencies, foreign banks, consultants, internal and external auditors etc.
Review all internal and external audit reports and arrange to address concerns raised in coordination with support & business units.
Review and provide feedback on external credit & risk agencies reports on the bank.
Ensure all the credit proposals are carefully evaluated and provide logical recommendations prior the submission to next level of authority and to the credit committee for approval/decision.
Manage Credit Risk Approval Process of Limits for New and Existing Customers including excesses, one off deals which have a direct impact to the revenue and budgeted revenue/income targets.
Develop and implement Compliance strategy & framework comprising of Charter, Policies & Procedures in order to ensure high level of compliance of bank’s operations with the country rules & regulations as well as safeguard the bank interest.
Establish a risk based Compliance Program to identify, measure and assess Compliance risks in Products, activities & processes of the Bank in accordance with the Compliance framework
Ensure adequacy, effectiveness & efficiency of Compliance functions & Compliance Controls ( i.e., regulatory Compliance, Financial Security, Market abuse, Suitability, Deontology, Conflict of Interest etc) in accordance with regulatory & policy requirements.
Review the investigations on “Red flags”, escalate suspicious, dubious & or fraudulent names/accounts &/or transactions and report it to senior management & Board Committee.
Report material findings, anomalies & recommendations pertaining to Regulatory & or financial crime related issues to senior management and Board Members
Provide guidance & advice to relevant functions within the bank towards strengthening regulatory compliance and mitigating Compliance risks.
Procure tools & systems as required, for carrying out Compliance functions and specifically financial Security functions (including monitoring and data mining tools for review of transactions).
Job Specification
Education
A University degree in a business–related field with risk management related professional qualifications
Master’s degree is preferable.
Training/Skills
Basel II and knowledge of high yielding / low risk investment products
Knowledge of Investment practice and theory
Risk Management Principles
Strategy development, implementation and monitoring
Work Experience
10-12 years’ experience in risk management with at least 5 years at senior management level in well-established and recognized financial institutions.
Competencies
Communication skills
Analytical thinking
Assertiveness
Problem solving skills
Leadership
Team orientation
