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 and implementing an Enterprise RiskManagement Framework and related risk policies reflecting theBank’s approved Risk Appetite Statement in a manner thatis aligned with the size, scale and complexity of the bank andtaking into account regulatory expectations and requirements.
Operating an effective second line of defense functionwhich is able to demonstrate 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.
Reportingto the Board Risk Committee on all risk management frameworkarrangements, ensuring these are adequate and operatingeffectively.
Leading the risk management functionensuring it has adequate and appropriate resources Duties andResponsibilities :
Embed a robust and effective riskmanagement framework and risk management infrastructure coveringcredit risk, market risk, liquidity risk, financial risk,operational risk, reputational risk, conduct and strategic risk byfully engaging with the Board, Senior Leadership Team, directreports and stakeholders.
Ensure it remains fit for purpose andproportionate to the size and complexity of the bank’sbusiness as it grows, as well as the Bank’s approved RiskAppetite Statement
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 oremerging risks and developments that could have a material impacton the risk profile of the bank and propose actions to mitigatethese risks.
Provide oversight and challenge todecisions made, ensuring that risk is an integral part of thereview and approval processes that are in place.
Ensurethe safety, reliability, resilience and compliance of the bank inits business, its operations and its practices.
Responsible for the calibration of the bank’s riskappetite and ensure that the risks are quantified and linked to thecapital and liquidity needs of the bank through its ICAAP and ILAAPdocuments.
Reports to the Executive Committee, Management RiskCommittee, Board Risk Committee and Board on the bank’srisk exposures relative to its risk appetite and risk capacity.
Take on-going responsibility for reviewing thebank’s risk appetite framework through regular engagementwith the Board and SLT in order to document risk appetite, setlimits and establish regular 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’s capital adequacyratios and IFRS9 computations, on an ongoing basis, as perregulatory requirements.
Flag and escalate any capital adequacyrelated concerns or risks to the Board, Board Risk Committee, CEOand Senior Leadership Team in a timely and proper manner.
Provide oversight and challenge of the bank’ssystems and controls in respect of risk management.
Develop an approach to risk assurance taking in to account theactivities that take place within The First Line of Defence and thethird Line of Defence.
Provide oversight and challengeof information security and business continuity risks facing theGroup. Report any gaps to the Management Risk Committee and BoardRisk Committee.
Respond to information requests fromregulatory bodies and attend meetings as required.
Provide risk-focused advice and information to the Board andManagement Risk Committees.
To provide direction andleadership to risk functions of the bank.
Monitor the'bad' and 'doubtful' debts as partof the portfolio quality review and ensures that adequateprovisions are being made;
recommends corrective action on'problem' loans and / or portfolios.
Liaise closely with other control and support functions, includingCompliance, HR, Finance and Legal with respect to prevailing risksand controls. Education Level Required :
Post Graduate inBusiness Administration, Finance Professional / TechnicalQualifications / Diplomas :
Professional qualification inrisk management, banking or accountancy Experience :
Exposure to demanding operational environments to gain insight intothe most effective risk management applications, recovery &collection techniques and legal solutions.
Workingacross all levels of the organization to understandcross / functional linkages and interdependencies, as well as theimplications of risk at both a strategic level and at the businessunit level.
Experience of creating, developing andleading a sizeable team.
A high level of professionalcompetence which helps to determine solutions around appropriaterisk measures, risk processes, risk monitoring and management.
Specialist Skills Required for the Job :
Understand thestrategies of the bank and collaborates with the business toaccomplish these strategies.
Ability to form effectiverelationships and achieve influence at the most senior level in theorganization.
Demonstrated business knowledge, such asexperience leading 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 tomake robust / tough decisions which may be contrary to the businesswishes.
Understand and interpret complex businessrequirements.
Proven ability to prioritize competingdemands.
Demonstrated abilities to assess risk trends,both internally and externally.
Strong leadership andmanagement ability, developing and motivating employees.
Ability to drive change.
Developing and retainingcritical talents and building an effective leadershipteam