A leading local UAE Bank is recruiting for aChief Risk Officer who will be responsible to providing a secondline of defense function for the bank, delivering a set ofstrategic capabilities around risk management (strategic, credit,operational, market, liquidity and conduct risks), including :
Developing andimplementing an Enterprise Risk Management Framework and relatedrisk policies reflecting the Bank’s approved RiskAppetite Statement in a manner that is aligned with the size, scaleand complexity of the bank and taking into account regulatoryexpectations and requirements.
Operating aneffective second line of defense function which is able todemonstrate independence from the business.
Ensuring the function works collaboratively andconstructively with the first line of defense functions to deliversupport for the achievement of all business objectives whilstmaintaining effective governance and controls.
Reporting to the Board Risk Committee on all riskmanagement framework arrangements, ensuring these are adequate andoperating effectively.
Leading the riskmanagement function ensuring it has adequate and appropriateresources
Duties andResponsibilities :
Embed a robust and effective risk management frameworkand risk management infrastructure covering credit risk, marketrisk, liquidity risk, financial risk, operational risk,reputational risk, conduct and strategic risk by fully engagingwith the Board, Senior Leadership Team, direct reports andstakeholders.
Ensure it remains fit for purpose and proportionateto the size and complexity of the bank’s business as itgrows, as well as the Bank’s approved Risk AppetiteStatement
Ensure there is an appropriateframework in place for the identification, measurement, mitigation,monitoring and reporting of significant risks, provide oversightand challenge of those risks on an ongoing basis and ensure thatthe data used by the bank to assess its risks are fit for purposein terms of quality, quantity and breadth.
To support the deliveryof the framework using key tools such as risk and controlself-assessment, monitoring and oversight activities and thematicreviews.
Consider the impact of actual,potential or emerging risks and developments that could have amaterial impact on the risk profile of the bank and propose actionsto mitigate these risks.
Provide oversight andchallenge to decisions made, ensuring that risk is an integral partof the review and approval processes that are in place.
Ensure the safety, reliability, resilience and complianceof the bank in its business, its operations and itspractices.
Responsible for the calibration ofthe bank’s risk appetite and ensure that the risks arequantified and linked to the capital and liquidity needs of thebank through its ICAAP and ILAAP documents.
Reports to theExecutive Committee, Management Risk Committee, Board RiskCommittee and Board on the bank’s risk exposures relativeto its risk appetite and risk capacity.
Takeon-going responsibility for reviewing the bank’s riskappetite framework through regular engagement with the Board andSLT in order to document risk appetite, set limits and establishregular risk reporting against appetite.
Monitor risk limits, early warning signals and alerts toensure they are not breached and that they are brought to theattention of management and the BRC on a regular basis.
Coordinate the calculation of the Bank’scapital adequacy ratios and IFRS9 computations, on an ongoingbasis, as per regulatory requirements.
Flag and escalate anycapital adequacy related concerns or risks to the Board, Board RiskCommittee, CEO and Senior Leadership Team in a timely and propermanner.
Provide oversight and challenge of thebank’s systems and controls in respect of riskmanagement.
Develop an approach to riskassurance taking in to account the activities that take placewithin The First Line of Defence and the third Line ofDefence.
Provide oversight and challenge ofinformation security and business continuity risks facing theGroup. Report any gaps to the Management Risk Committee and BoardRisk Committee.
Respond to informationrequests from regulatory bodies and attend meetings asrequired.
Provide risk-focused advice andinformation to the Board and Management Risk Committees.
To provide direction and leadership to risk functions ofthe bank.
Monitor the 'bad'and 'doubtful' debts as part of the portfolioquality review and ensures that adequate provisions are being made;
recommends corrective action on 'problem' loansand / or portfolios.
Liaise closelywith other control and support functions, including Compliance, HR,Finance and Legal with respect to prevailing risks andcontrols.
EducationLevel Required :
Post Graduate inBusiness Administration, Finance
Professional / Technical Qualifications / Diplomas :
Professional qualificationin risk management, banking or accountancy
Exposure todemanding operational environments to gain insight into the mosteffective risk management applications, recovery &collection techniques and legal solutions.
Working across all levels of the organization tounderstand cross / functional linkages and interdependencies, as wellas the implications of risk at both a strategic level and at thebusiness unit level.
Experience of creating,developing and leading a sizeable team.
A highlevel of professional competence which helps to determine solutionsaround appropriate risk measures, risk processes, risk monitoringand management.
Specialist Skills Required for the Job :
Understand the strategies of the bank and collaborateswith the business to accomplish these strategies.
Ability to form effective relationships and achieveinfluence at the most senior level in the organization.
Demonstrated business knowledge, such as experienceleading a P & L unit.
Communicationand interpersonal skills, including the capacity to articulate thecase for risk management in the language of business.
Established financial and accounting acumen.
Ability to make robust / tough decisions which may becontrary to the business wishes.
Understandand interpret complex business requirements.
Proven ability to prioritize competingdemands.
Demonstrated abilities to assess risktrends, both internally and externally.
Strongleadership and management ability, developing and motivatingemployees.
Ability to drive change.
Developing and retaining critical talents and building aneffective leadership team.