This is a second line of defense role. The Group Head of Risk will lead teams dedicated to identification, measurement, monitoring and control of risks across the Bank and its subsidiaries.
He / she will be responsible for maintaining and enhancing the risk management framework for the Group and shall ensure that it is in line with regulatory requirements (across jurisdictions in which the Bank operates).
He / she shall oversee development of the Group Risk Appetite Statement, Group ICAAP and ILAA.
He / she will play a crucial role in aligning all risk-related processes (Credit, Market and Operational risk) across ABC’s businesses/ subsidiaries and will contribute towards achieving Group’s strategic goals by defining the events, threats and risks, which may obstruct the fulfillment of these goals.
He / she will be a member of senior management committees and would be responsible for appraising management on matters related to risk management; thus facilitating sound decision making.
Principal Responsibilities, Accountabilities and Deliverables of Role:
- Lead internal group awareness on risk related regulations (prevailing and emerging) in key ABC group jurisdictions (Bahrain, UK, US, Brazil, MENA subsidiary locations)
- Enable suitable internal response and preparedness for compliance with risk regulations
Establish and maintain the Risk Management Framework
- Ownership of Risk Management Policies and Procedures
- Develop and propose methodologies for the measurement of risk exposures within and across asset classes, adhering to regulatory principles and aligned to best practices
- Assume the lead in establishing the right overall risk policy, including the organization’s accepted level of risk appetite, and drive efforts for enhancement of risk culture across the Group
- Engage with other risk management verticals (including the Group Chief Economist) and business units in leading development of Group Risk Appetite Statement for ABC Group and their subsequent cascade to group entities.
- In conjunction with Group Finance, lead development of Group Internal Capital Adequacy Assessment Process.
- In conjunction with Group Finance, lead development of Internal Liquidity Adequacy Assessment framework and Contingency Funding Plans.
- Creation and management of an integrated stress testing framework covering credit, market, and liquidity risks
- Oversight and assistance to subsidiaries for development their risk management framework; with a view to achieving consistency and uniformity across the Group (to the extent feasible).
Credit Risk Measurement and Methodology
- Ownership of credit risk measurement framework (rules for exposure calculation, aggregation, netting, mitigation, and risk transfers)
- Management of credit rating platform and models, including periodic validation of models
Treasury & Financial Market Risk:
- Manage an independent Treasury & Financial Markets Risk team, providing analysis and insight on all Treasury activities and Bank’s overall liquidity risks.
- Providing assurance to the bank’s senior management that all risks are being measured accurately and managed/controlled in line with risk appetite, meeting both internal and regulatory requirements
- Measurement and monitoring of Market Risk (based Value-at-Risk, Scenario Analysis and other metrics)
- Oversee annual back-testing and risk model validation exercises
- Valuation of underlying assets and risk-adjusted performance attribution.
- Contribute to strategic decision making at all required levels related to Treasury Trading & Investments, Hedging Strategy & Hedge Accounting, P&L Analysis / Performance Attribution, Independent Valuations & Price Verification for Treasury Assets, Liquidity / Asset Liability Risk Management and Middle Office activities.
Risk Control and Reporting:
- Oversee preparation of monthly / quarterly / annual comprehensive risk related reports on all ABC holdings
- Manage the process for identifying and reporting limit excesses/ breach of investment guidelines and monitor remedial action as and when required
- Ensure appropriate configuration of credit and market risk systems to support business needs and ensure proper recognition of risk exposures against limits.
- Ownership and delivery of credit and market risk reporting requirements to user departments, senior management, and regulator related to risk data.
- Advise subsidiaries and branches as required in ensuring their reporting systems are fit for purpose in supporting group reporting obligations.
Implement and Manage Risk Platform and Systems
- Identify, evaluate and implement the right risk tools and systems and/or manage the external vendors supporting risk measurement, analysis and reporting processes at ABC
- Oversee implementation of risk management system solutions (e.g. the limit/ exposure aggregation and collateral management solution which is currently being implemented)
- Ensure relevant risk analysis, measurement tools and dashboards are developed as and when required
- Ensure that the systems capture the risk parameters and static data information required for effective risk monitoring, analysis and reporting
- Help conduct training and develop a risk culture across the organization by facilitating risk workshops, business unit training, and project manager training in risk management, etc.
- Work with HR to tailor employee training to establish knowledge of the risk culture
- Coach and mentor nationals, especially in relation to but not limited to the Risk Management function
- Track record in building a best-practice risk management function that has the right balance in terms of control and business-support
- Experience in implementing a risk platform (e.g. Risk Metrics) is an advantage
Education / Certifications
- Master’s degree in either of Finance, Business, Economics, Mathematics / Statistics with strong foundation in quantitative techniques.
- 20+ years of experience (10-15 years if bulk of the experience is directly relevant)
- Fluent in English, fluency in Arabic an advantage
- Good time-management skills
- Self-motivation and leadership attributes
- People management and relationship skills
- Experience leading business critical projects