Chief Risk Officer Job at a company in the banking industry


Chief Risk Officer Job at a company in the banking industry

A reputable player in the banking industry seeks a suitable candidate to fill the following position: CHIEF RISK OFFICER (CRO)

Job Summary:

The Chief Risk Officer’s (CRO) primary responsibility is to develop and implement a risk management framework with appropriate tools for the measurement, reporting and control of risks. The CRO shall establish a risk appetite framework per the Board’s stated risk tolerance expressed in a limit structure for all business units, monitor risk-taking activities and report adherence to limits.

The successful candidate shall collaborate with the Board’s Risk Oversight Committee (ROC) while having direct reporting line to the Deputy Managing Director. The CRO is a member of the Executive Management and the Asset and Liability Committee (ALCO).

Key Duties and Responsibilities:

  1. Firstly, To identify, assess, measure, monitor, mitigate and manage all types of risk arising from the internal and external business environment at a bank-wide level.
  2. Secondly, To develop risk management policies, including the quantification of the Bank’s risk appetite through specific risk limits.
  3. Thirdly, To implement a set of risk metrics and reports, including losses and incidents, key risk exposures, and early warning indicators.
  4. Furthermore, To allocate capital to exposures based on risk, and optimize the bank’s risk portfolio through business activities and risk transfer strategies.
  5. Then, To improve the bank’s risk management readiness through communication and training, performance measurement, and other change management interventions.
  6. Moreover, To monitor and ensure proper working of the credit risk function including credit risk policy formulation, credit risk procedures, model validation for retail, corporate and SME lending, credit risk capital computation, risk mitigation, monitoring and reporting.
  7. Additionally, To monitor and ensure proper working of the operational risk function including operational risk policy development, risk identification, loss event management, business line mapping. Control Risk Self-Assessment, monitoring of KRIS, risk capital computation, and mitigation strategies.
  8. More so, To monitor and ensure proper working of the market risk function including market risk policy development, risk assessment tools/models for market, liquidity/interest rate risks, determining and monitoring of limits, risk reporting dashboards, capital computation and mitigation strategies.
  9. Also, To ensure the integration and maintenance of all IT systems and applications related to risk management.
  10. Afterwards, To monitor the integrity of risk measurement techniques used to monitor the Bank’s risk profile relative to its risk appetite.
  11. Lastly, To perform any other duties that may be assigned by Management.

Required Education and Experience:

  • Bachelor’s Degree in Finance, Business or related field
  • Master’s Degree Finance, Business or related field.
  • Minimum of 10 years experience in banking and finance, with at least 5 years in senior risk management related role.
  • In-depth understanding of regulatory compliance requirements. Knowledge in global regulatory environment/practices is preferred.
  • A professional qualification is an added advantage.
  • Considerable experience in risk control processes, tools/techniques, capital management, risk-related regulations and compliance.

Essential Knowledge, Skills and Ability Required:

  1. Strong functional exposure to regulatory interactions, strong technology and a keen eye for details.
  2. Strong understanding of statistics and quantitative data analysis methods.
  3. Strong business acumen – business and financial judgment, problem-solving skills, and in-depth understanding of banking processes and operations.
  4. Ability to influence a culture of risk awareness in the organization.
  5. Ability to lead and exercise authority through expertise, experience, showing both strategic and operational understanding of the business model.
  6. Strong sense of collaboration and ability to develop positive relationships with key business stakeholders and demonstrate respectful, constructive negotiating skills.
  7. Excellent written and oral communication skills, with proven ability to present and explain complex information and suggest process improvements to a diverse audience including the Board,
  8. Finally, Demonstrate the ability to maintain strict confidentiality

How to Apply for this Chief Risk Officer Job

Interested candidates can send their applications and detailed CVs to [email protected]

Kindly note that only shortlisted candidates will be contacted.

Deadline for submission of applications: Friday June 24, 2022

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