Chief Risk Officer - رئيس مجمع المخاطر

POSITION NAME Chief Risk Officer
1. Role Objective
JOB CONTENT
To oversee a comprehensive risk management framework, encompassing Loan Review, Credit Risk, Operational Risk, Market Risk, Information Security, Business Continuity, and Corporate Governance. The CRO is responsible for identifying, assessing, mitigating, and monitoring all potential risks that could impact the bank's operations, financial performance, and compliance.

2. Duties and Responsibilities
Strategic:
1. Collaborate with Senior Management to develop, implement, and maintain a comprehensive risk management framework aligned with the bank's overall business strategy and risk appetite. Ensure the framework complies with all relevant banking regulations and supervisory guidance.
2. Advise the Board of Directors on the formulation of bank’s overall Risk Management strategy including credit, market, liquidity, operational and other risk and adequacy of capital to meet the targeted risk profile
3. Provide strategic leadership and direction to the heads of Loan Review, Credit Risk, Operational Risk, Market Risk, Information Security, Business Continuity, and Corporate Governance departments. Ensure effective collaboration and information sharing among these departments to achieve a holistic view of the bank's risk profile.
4. Develop and implement strategies to hedge against market risks and protect the bank's capital and profitability.
Financial:
5. Establish credit risk limits and ensure adherence through credit approval workflows and portfolio stress testing.
6. Oversee the implementation of corrective action plans to address non-performing loans and minimize potential credit losses.
7. Work closely with the Treasury department to develop hedging strategies and monitor market positions to minimize potential losses from market fluctuations.
8. Review budgeted vs. actual figures and arrive at best estimates to predict future cost estimates required for the unit.
Operational:
9. Lead the Loan Review department in conducting independent reviews of loan portfolios to ensure adherence to credit policies, loan documentation standards, and regulatory requirements.
10. Oversee the Credit Risk department in developing and implementing sound credit risk management practices, including loan underwriting guidelines, credit analysis methodologies, portfolio monitoring processes, and non-performing loan management strategies.
11. Establish credit risk limits and ensure adherence through credit approval workflows, covenant monitoring, and regular portfolio stress testing to assess the bank's vulnerability to potential credit losses.
12. Lead the identification, assessment, and mitigation of operational risks associated with various business processes, people, technology, and external events.
13. Oversee the implementation of corrective action plans to address identified operational risk weaknesses.
14. Oversee the development and implementation of strategies to manage the bank's exposure to market risks, including interest rate fluctuations, foreign exchange movements, and equity price volatility.
15. Oversee the Business Continuity department in developing and maintaining a comprehensive business continuity plan to ensure the bank's ability to recover from operational disruptions caused by natural disasters, cyberattacks, or other unforeseen events.
16. Ensure adherence to sound corporate governance principles by establishing a strong risk culture, promoting ethical conduct, and fostering transparency and accountability throughout the organization.
People:
17. Demonstrate visible leadership to employees to encourage maximum performance and dedication by establishing and fostering an environment which stimulates good communication, teamwork, and creativity in both problem-solving and identifying opportunities.
18. Foster a culture of excellence by motivating, coaching, and developing a team of talented managers.
19. Develop and ensure a well-managed succession plan is implemented for all reporting teams through adequate training and challenging career path development for staff.
KEY INTERACTIONS
1. Internal
– Board of Directors, Management Committees, Division Heads, Business Heads – As part of day-to-day activities

2. External
– Regulatory Bodies, External Auditors, Research & Rating Agencies, and any other statutory bodies
– Vendors, Consultants – As part of day-to-day activities

3. Level of external interaction
– This position requires medium to high level of external interactions

MINIMUM EDUCATION, QUALIFICATIONS & SKILLS
Education:
– Master's degree in Finance, Risk Management, or a related field
Experience:
– 15+ years of experience in a senior risk management role within the financial services sector, with a proven track record of hands-on experience in developing and implementing risk management frameworks
Special Skills & Knowledge:
– In-depth knowledge of credit risk, operational risk, market risk, information security, business continuity, and corporate governance best practices.
– Strong analytical and problem-solving skills with the ability to assess complex risks, develop quantitative risk models, and design effective mitigation strategies.
– Excellent communication, presentation, and interpersonal skills with the ability to influence senior management and board members on risk management priorities.
– Strong leadership skills with the ability to build and lead a high-performing risk management team, fostering a culture of risk awareness within the organization.
– Strong understanding of the regulatory environment governing banking institutions.
– Experience with quantitative risk management techniques and risk modeling tools.
– Excellent project management skills to oversee the implementation of risk management initiatives across the bank.
Business Understanding:
– This position requires a high level of business understanding