DEPARTMENT: Enterprise Risk Management (ERM)
• Managing Director / CEO Supervises
• Risk Officer(s)
• Implement risk management system
• Corporate governance
• Regulatory and Operational Risk
• Business continuity
• Market and Credit Risk
• Facilitates the creation, review and implementation of the Bank's Enterprise-wide risk oversight and reporting process and infrastructure, including assuring that business units adequately identify, measure, control and monitor the Bank's credit, market, liquidity, operational, legal, compliance, and reputation risks relative to the products, services and activities for which they are responsible.
• Identifies risk ownership gaps and overlap requiring resolution to ensure appropriate ownership of priority risks and then monitors the planned actions.
• Responsible for working with other executive management to identify the critical models in the organization and then to validate those models at least once each year and provide a report regarding the model validation to the Enterprise Risk Management Committee.
• Monitors risk management throughout the organization, and summarizes risk at an enterprise level, advising the Enterprise Risk and Compliance Committee of trends and levels compared to Board-established tolerances.
• Works closely with the MD/CEO and other Executive Team members to assist in reviewing any new products, services, policies, procedures, system change or integration planning, to assess risk identification, analysis and mitigation strategies.
• Participates in the strategic planning process each year and provides a written report to the Board of Directors regarding the impact the plan will have on enterprise risk at the company
• Monitors and reports to the board any risk recommendations or findings that are identified in any exam or internal audit and tracks these matters until they have been completed. Once completed the CRO will review to confirm that the item has been completed and will report to the Board and remove the item from the tracking log.
• Is the primary liaison with the Enterprise Risk and Compliance Committees and meets with them without other management on a periodic basis;
• Risk evaluation and establishing the risk appetite of the business
• Identify and estimate the risk affecting the business
• Implement risk avoidance and retention programs
• Coordinate the compilation and continuous review of a detailed transaction process flow for all key activities in the organisation and identify risk
• Coordinate the review of business/ operating processes and practices and information systems to ensure the adequacy of existing risk controls as well as mitigate errors and irregularities
• Ensure corporate governance involving external risk
• Develop Expected Credit Loss model as required by IFRS 9 standards for the measurement of probable impairment provisions.
• Develop Value at Risk (VaR) Models to measure the risks inherent in financial instruments
• Develop Asset and Liability matching template/model
• Develop risk models to measure other risk parameters including beta, duration and convexity
• Implement business continuity plans (BCP) to limit risk
• Provide support and training to staff to build risk awareness
• Prepare/compile agreed periodic activity and performance reports for the attention of the CEO and relevant Board Committee.
• Provide good back up support on operational / transactional processes to mitigate risk
• Acts as primary interface with the regulators during regulatory examinations and manages the exam process ensuring that all requested information is provided to the examiners in an organized and timely manner.
• Perform any other duties as assigned by the MD/CEO and Board.
KEY PERFORMANCE INDICATORS
- Financial Target As agreed from time to time Non -Financial Target
- Timely and discreet execution of investigations
- Reduced fraud cases
- Reduced number of mitigated risks
• Knowledge of corporate governance practices
• Ability to analyze data
• Ability to read large volumes of documents effectively and extract necessary information
• In-depth understanding of the organization’s business issues
• Communication & Presentation
• Good report writing skills
• Working knowledge of Microsoft Office Suite & the Internet Generic Skills
• Team work
• Detail orientation
• Time Management
• Team work
• First degree or its equivalent in any discipline, MBA or Master’s degree required Minimum Experience:
• Eight (8) years relevant experience of which at least four (4) years must have been spent in a similar role.
• Professional Membership: Certified Risk Management Professional (CRMP), PMI-Risk Management Professional, RIMAN Certified Risk Manager (CRM), and any other relevant risk management professional memberships.
• Other relevant professional qualification: ACA, ACCA, CIMA, CFA would be an added advantage.