- Develop the Enterprise Risk Management Policy for the bank
- Set a risk and compliance framework for the firm in line with our principles and culture.
- Proactively Guide the integration of enterprise risk management with other organizational planning and management activities.
- Identify training needs for risk management and oversee the development of enterprise risk competence and awareness across the bank
- Evaluate the adequacy of the company’s internal control framework in addressing risks and accomplishing the company’s goals and objectives;
- Work with Board Audit, Risk and Compliance committee in ensuring the identification and prioritization of risks and reporting of the same
- Monitor and report on compliance with regulatory requirements.
- Proactively identify emerging risks and report to relevant stakeholders.
- Develop a risk management system and train departmental risk champions on implementation
- Attend Board Audit and Risk Committee meetings, and any other duty assigned by Management
- Analyse, on a quarterly basis, quality of loan portfolio depending on:
- Composition of LCM
- Type of Business Activity
- Zones or market area.
- Change in RSM
- Value of Collaterals, etc.
- Perform regular analysis and monitoring of credit risk and exposure and likely impact the Bank on:
- Quality of the loan portfolio
- Business sector analysis
- Market trends
- Perform periodic market survey to identify sector base risks in our target market.
- Follow-up and advise management regularly on the performance of exceptional loan files:
- Restructured Loans.
- Top-up Loans.
- Regular follow-up of bad debt management by the Recovery Unit and make a recommendation on :
- Management of nonaccrual loans
- Performance of written-off loans
- Legal cases
- Management of seized items.
- Valuation / Auction exercises
- Research and advice management on exceptional cases (potential high risk).
- Identify and liaise with department and unit heads in identifying major risk areas and propose actions in the management of such
- Monitor implementation of action plans to ensure risk mitigation efforts are proceeding as required.
- “Test” the effectiveness of cascading risk management approach to business decision making
Fraud Analysis, Prevention & Whistleblowing:
- Develop a proactive, independent, balanced fraud risk awareness within the bank
- Exercise direct ownership for Fraud Risk Management control across the Bank.
- Ensure compliance on all fraud risk reporting requirements both internal and external.
- Develop Standards for Fraud Risk Management.
- Ensure that Fraud Risk achieves an optimal balance with regard to cost, efficiency, operations and customer service.
- Act as a major stakeholder in managing whistleblowing.
- Update all Risk reporting tools to the M.D on a monthly basis
- Develop new reporting tools in line with business need.
- Act as the bank's Compliance Officer I relating with regulatory bodies e.g CBN, NDIC etc
- Co-ordinate the writing and updating of processes, procedures and other guides relating to operations
- Perform regular control on KYC/AML for account opened in branches
- In-charge of Pol_Pro_GUIDE and must ensure its regular updates.
- Work closely with IT (database) to ensure that the update of various forms, profiles, TC Limits, etc. in Orbit are made according to procedures.
- Keep abreast with and advise management of any new development in the market by a competitor, government or CBN that may have an impact on operations
- Keep abreast with all government legislations and CBN policies that may affect operations and advise management on it.
- Work with IT to ensure full compliance of monthly reporting of lending activities to the Credit Bureau.
- Attend Board Audit and Risk Committee meetings and any other duty assigned by Management.
Internal Control and Reporting on Mission:
- Ensure the implementation of a good internal control system
- Performs controls on client transactions in their account to check correctness and consistency.
- Conduct independent control on the full compliance of policies and procedures at all stages of the credit process through desk review and field reviews with the main purpose of identifying and blocking all loopholes in the process
- Ensure the proper dissemination and implementation of new policies and procedures in the branches relating to operations.
- Be actively involved in the set-up of a new point of sales in order to ensure proper implementation of all internal control systems
- Perform control on customer feedback in branches - opening the suggestion boxes and discussing its contents.
- Ensure the implementation of all reporting tools across network and head office.
The Head of Risk Management shall demonstrate:
- Ability to forecast needed adjustment to strategy in order to achieve operational and financial objectives
- Control of internal policies, especially regarding the bank’s risk exposure
- Contribution to strategic thinking.
- Ability to train and support teams under his direct responsibility
- Ability to communicate clearly with staff under supervision and management at the head office level, both orally and in writing
- Ability to anticipate, identify and analyse issues that may hamper the development of the institution (internal control)
- Ability to ensure timely and transparent reporting to higher-ups, and to propose new initiatives for the overall business development.
- Minimum of First degree in Social Sciences, Humanities, and Arts and relevant professional qualification in e.g. ACCA, CIBN, CIB, MCP.
- Familiarity with operational, financial and quality assurance procedures is required.
- A Masters degree in Management will be an advantage.
- Minimum of 8 years of relevant experience in microfinance of which five should be in a managerial capacity.
- Good understanding of the compliance function in a microfinance establishment is also required.
- Good interpersonal and communication skills.
- Good analytical and mentoring skills.
- Meticulous, rigorous, open-minded, autonomous and Team Player.