To reduce credit and default risk to the barest minimum while enhancing credit applications in a bid to improve the bottom line of the organisation.
To originate, appraise and approve credit request applications in line with the Bank’s credit policy and the risk acceptance criteria, to deliver quality and sustainable risk assets.
The Chief Risk Officer will have overall responsibility for the development and implementation of a detailed business risk management framework, both operational and those relating to the individual transactions of organization. This includes developing the processes and recommending the risk appetite statements and limits, and then ensuring the organization remains within these limits.
Key Responsibilities (Duties)
The Chief Risk Officer will also work with other members of the Senior Management Team in developing and implementing the strategies for organization.
This position will report to the organization’s Chief Executive Officer and Board.
Develop risk assessment and monitoring policies and procedures for both the operations of the organization and for the transactions, including sourcing information, setting and monitoring of limits, to ensure that all existing and emerging risks are appropriately identified, monitored and managed, and that any breaches are appropriately recorded and managed;
Provide guidance on the type and quality of management information proportionate to the nature, scale and complexity of the business, to be provided to senior management and the Board to ensure good governance;
Ensure compliance with regulatory and statutory provisions regarding risk management, prompt reporting of risk positions and provision of advice on possible resolutions of critical issues;
Create a culture of intelligent risk-taking, heighten awareness and use of advanced risk management practices through educational programs, training processes and personal mentoring with senior executives, business unit management and general staff;
Overseeing the activities of the risk function in transaction approval, including requiring additional risk mitigation where appropriate;
Proven ability to oversee a number of risk types including credit, market, investment operational and, enterprise risk.
Develop, review and evaluate the process of identifying, assessing, monitoring and reporting all risk threats in accordance with the Bank’s Strategic Business Plan.
Developing and managing qualitative and quantitative reporting to senior management and to the Board at each Board meeting on risk matters, including compliance with relevant regulatory, legal and internal requirements in order to support effective decision making.
Continuously developing, enhancing and embedding the risk framework for managing all risk types effectively within his/her areas of responsibility, and that his/her teams comply with all approved risk controls;
Chairing Portfolio Management and Risk and Compliance Committees;
Provides technical support and training to Organization on risk-related issues;
Drives continuous improvement of risk management practices, commensurate with its size, complexity and geographical focus.
Provides oversight and supervisory functions to the Collections and Recovery team.
Proactively monitors current and emerging regulatory and risk issues and changes impacting organization. Provides guidance, advice and leads implementation of initiatives to address issues;
As a member of the Senior Management Team, assists the CEO in the management and development of organization to ensure a smoothly functioning, efficient organization.
Setting limits and giving guidance on lending strategies and generally issues around the loan book.
Develop a Risk Awareness Culture within the Bank by equipping the Employees with relevant Risk Management skills, through Training and mentorship in line with the Bank’s Strategic Plan and Risk Strategy.
(What you will be held responsible for)
Analyze credit requests to identify key risk and proffer mitigants, agree structure with business group and provide conditions precedent to drawdown
Process customer credit request within TAT to ensure customer experience
Work with other departments to ensure completeness of documentation to safeguard the Bank’s position
Analyze NPL information/ data for future corrective measures
Generating credit bureau report on existing and potential customers
Academic Qualifications (Minimum)
Bachelor degree in Insurance
Master’s degree in any relevant field
Relevant Work Experience (Minimum number of years)
At least 10 years of business experience, (including at least 5 years of Credit Risk Management at Senior Managerial Level).
Comprehensive risk management and regulatory knowledge and experience as a banker or regulator in key risks facing financial services companies including on credit, interest rate, liquidity, mergers/acquisitions, compliance, legal and operational risks.
Knowledge and experience of internal audit matters in financial institutions.
Knowledge current trends and developments, and experience in theories of risk matters and infrastructure development and finance in Africa.
Skills to foster and cultivate business opportunities and partnerships.
Ability to recognize and be responsive to the needs of all clients of the organization, including funding organizations, the Board of Directors, governments, and employees.
People management skills to supervise staff, including regular progress reviews and plans for development.
Other Qualifications (Professional exams, member of relevant professional association etc..)
Institute of Chartered Accountants (ICAN) – ACA(optional)
Chartered Financial Analysts – In view(optional)
Required Skills & Competencies (technical and soft skills)
Understanding CBN monetary policy and guidelines
Loan structuring and restructuring
Credit risk management
Financial statement analysis
Policy formulation and implementation
Decision quality and problem-solving
Excellent communication/presentation/negotiation skills (both verbal and written); Clear communication, advising management/staff.
Ability to deal with all levels of management across business units and departments.
Robust understanding of acquiring risk and proven experience in a credit and collections unit.
Excellent analytical skills both quantitative and qualitative related to each risk function
Accomplished at reading, interpreting and summarizing financial statements.
Capable of making sound judgments based on the weight of available data.
Strong leader with proven management skills.
A sound understanding of ERM principles and philosophy.
Ability to think strategically.
Job Dimension (Scope & Management elements of the job)
Minimize credit and default risks, enhance credit application process and improve the credit management system.
KEY INTERFACES (People you need to work with closely to be successful)