Summary

To support the Board Risk Management Committee and the Managing Director, in developing and implementing an integrated Enterprise-wide Risk Management Framework that manages its strategic, tactical and operational objectives in a controlled environment with balanced risk portfolios and ensuring that the Bank is rewarded appropriately for those risks.

Responsibilities

Financial - 10%

• Responsible for supporting the achievement of profitability of the bank through management/ cost savings of set departmental budgets

Customer - 5%

• Drive customer satisfaction through adherence of set SLAs and issuing stakeholders timely feedback.

Internal business processes - 80%

Identification of current/ emerging key risks plus their significant inter-relationships and set appropriate risk tolerance levels

• Comprehensively list key risks identified through independent reviews of the business/support functions, & internal/external/BOT and audits of the Group.
• Assessing the identified risks and measuring the Bank’s exposure to them.
• Develop, get approved & implement appropriate management dash-boards, %ages & absolute tolerance levels for key risks
• Identifying key risks inherent in the Bank

Measurement/Assessment of key risks and benchmark these against set tolerance levels & the industry

• Monitoring the risk exposures and determining the corresponding capital needs on an ongoing basis.
• Develop and implement appropriate measurement metrics, models & MIS for each key risk and comparisons to the banking industry.
• Review & update relevant measurement metrics/models in line with the dynamic external & internal environments
• Provide appropriate MIS (including their trends) to BRC for their review

Monitoring & Control of key risks plus exceptions through appropriate MIS

• Periodically track actual & trend analysis of key risk measurement results against approved tolerance levels.
• agree & set mitigation strategies for the key risks identified (i.e. accept but limit, transfer/insure, avoid where tolerance is NIL, accept where minimal).
• Follow up for implementation of corrective action on exceptions to approved tolerance levels
• Review major changes in markets, products, business lines, processes, technology, amongst others, ensuring compliance to approved tolerance levels before roll-out

Reporting/Communicating the key risks to BRC & Senior Management

• Periodically report the bank’s risk profile using appropriate MIS, Metrics & models
• Report all exceptions of approved risk tolerance levels to BRC/Senior Management while outlining the agreed corrective actions & their implementation timelines
• Review/confirm corrective actions are attained to close the risk gaps
• Monitoring and assessing decisions to accept particular risks, mitigation measures and whether risk decisions are in line with the board approved risk strategies, policies as well as risk tolerance / appetite levels.
• Reporting to the Board and management risk committee on the above.

Develop & review appropriate Internal Capital Adequacy Assessment Programs (ICAAP)

• Develop an appropriate and Regulator/Basel Accord compliant ICAAP.
• Implement the ICAAP model to arrive at appropriate minimum Economic Capital levels for the Bank
• Periodically & continuously test/review the ICAAP to ensure it provides acceptable buffers to key risk shocks

Develop & review Risk Management policies/procedures as well as continuous review of the Bank’s operating Policies/Procedures

• Develop & continuously review the relevant Key Risk Policies as required by regulators/Basel Accord/ERM.
• Continuously review all new & existing bank operating Policies/Procedures for their control appropriateness with relation to approved tolerance levels

Staff Management & Risk Awareness Training

• Develop, implement & review an appropriate Risk Management structure that adequately captures and controls the Bank’s key risks through an acceptable Risk Management Framework
• Train & create staff awareness to departmental and Bank-wide acceptable risk practices/culture while ensuring compliance to approved tolerance levels

Learning and growth - 5%

• Responsible for delivering the performance objectives set and managing his/her own learning and development to build capacity and avail him/herself for coaching and training opportunities.
• Responsible for delivering the performance objectives of direct reports and managing their learning and development to build capacity.
• Supervise, coach and mentor staff reporting to this function.

Reporting Relationships: jobs that report to this position directly and indirectly

Direct Reports

• Manager, Operational Risk
• Officer, Financial Risk

Stakeholder Management: key stakeholders that the position holder will need to liaise/work with to be successful in this role.

Internal

• BRMC & MD - Overall strategic direction, input on the Bank’s Strategic Risks and its mitigation
• All Business & Support Services Heads - Discuss, agree and implement identified risks and their mitigating actions.
• Internal Audit & Compliance - Feed-back to and from these 2 functions for purposes of focusing independent review on high risk-high impact areas.

External

• Industry Associations - To obtain industry data and best practice from such associates

• Other Banks - To obtain references on new / existing counter parties and get information on deteriorating credit
• BOT - Compliance to statutes and regulation
• External Auditors - Compliance to financial reporting standards

Decision Making Authority /Mandates/Constraints: the decisions the position holder is empowered to make

Strategic

This position looks after the total financial and non-financial risks affecting the Bank. In particular it :

• Ensures the Bank’s Economic Capital is in line with its risk acceptance tolerance levels as approved by the Board.
• Ensures compliance to risk tolerance is attained so as to avoid any un-budgeted risk portfolio provisions.
• Ensures a controlled environment that minimises the effects of catastrophic losses that may threaten the Bank’s survival.

Work cycle and impact:  time horizon and nature of impact (Planning)

• Above 1 year

Education and Qualifications

• A Bachelor’s degree in Business Management: Accounting Economics, Commerce, and Finance or related fields
• An MBA will be an added advantage

Professional Qualifications:

• Qualifications in Risk Management, Credit Management, Treasury Management and related fields will be an added advantage.

Requirements

Work Experience:

• A minimum of ten (10) years’ experience, with at least five (5) years middle level management in a banking environment or related field. 
• In depth understanding of the workings in various functions of the Bank’s set up i.e. the full Credit Management process, Branch & Central Operations, Trade Finance, Treasury Management (front, middle & back-office), Credit Operations (incl Securities & Credit Administration), Capital/Money Markets & Insurance fields.

Technical Competencies

Financial Analysis Skills:

• Excellent ability to analyse, interpret and draw conclusions/ recommendations based on financial statements of the Bank.

Conceptual and Analytical Skills:

• Good conceptual, analytical and evaluating skills, ability to conduct independent internal and external analysis, identify key risk issues, carry out negotiations, formulate/make recommendations, and ensure their approvals and implementation.

Planning and organizing:

• Ability to establish priorities, plan, coordinate and monitor own work plan, must be able to conceptualise issues and analyse risks affecting the Bank to great detail to understand underlying issues while measuring those and getting appropriate controls/mitigates in place.

Enterprise-wide Risk Management/Basel Accord Skills:

• Must fully understand the requirements and their implications to the Risk Management field for an effective development and implementation of the Bank’s Risk Management Framework covering the key risks affecting it.

Knowledge of Business Environment:

• Must understand local and global dynamics of the business environments facing the Group & its customers.

Legislation;

• Must be familiar with legislation/regulation relating to Banking, Capital/Money Markets, Insurance and related industries

Computer Skills:

• Good computer proficiency with ability to generate reports from the different core & legacy systems for purposes of developing and generating adequate, accurate & timely MIS for review and actions.

Characteristics

Behavioural  Competencies

Results Oriented

• Be able to have a personal drive to achieve set goals enthusiastically.

Resolve

• Be able to challenge business lines regarding all aspects of risks arising from the Bank’s activities.

Personal Ethics

• Must possess a high level of integrity & independence.

Decisive and Independent

• Decisive and Independent: Ability to work independently, consult, clarify and where necessary make informed decisions.

Interpersonal Skills;

• Interpersonal Skills; Excellent interpersonal skills, with the ability to establish and develop relationships.

Proactive Initiator

• Proactive Initiator: Must be pro-active, a self-starter and have the ability to anticipate and advice on strengths, weaknesses, opportunities and threats affecting the Bank.

Team work;

• Team work; Ability to work through cross-functional teams, deliver high quality work within deadlines, and to meet the Group’s objectives

Communication Skills:

• Communication Skills: Excellent communication skills for both written and oral, including the ability to convey ideas and positions clearly through appropriate presentations.

Reporting To

• Board Audit & Risk Management Committee (BARC)