Job Summary
The Chief Risk Officer ensures that the bank’s business and operational transactions are not exposed to risks that will threaten the continued survival, growth, success and profitable performance by anticipating and proactively implement strategies to minimize the impact or eliminate threats to keep the bank operating effectively.
Minimum Qualification:
Degree
Experience Level:
Senior level
Experience Length:
10 years
Job Description
Key Accountabilities
Formulates and implements internal control strategies, policies and procedures to enhance transparency and accountability in banking operations
Provides policy guidelines and framework for managing enterprise risks and ensures adequate controls are put in place to support effective implementation of approved plans and projects
Reviews internal (infrastructure, personnel, processes, technology) and external (economic, natural, political, competition) factors in the operating environment to ascertain potential risks to the bank’s business operations and growth plans
Monitors to ensure that all functions comply with established risk management guidelines and controls by specifying the escalation procedures to be followed in the management of any risk across the bank’s business and service touch points
Coordinates regular checks on operational activities to ensure compliance with internal controls policies and procedures
Coordinates the preparation of emergency response plans to assure continuity of operations following an emergency
Conducts periodic risk assessment across the bank’s value chain to determine the effectiveness of the bank’s risk management framework and policies and their impact on operational performance to decide on or initiate improvement solutions
Facilitates the incorporation of the risk management process into the internal audit program to ensure service delivery with no compromise to controls.
Undertakes investigations as required by Management and /or Board and advise Management on deviations and improvement opportunities
Monitors and detects potential threats to operational efficiency including risky credit, investments, and portfolio inefficiencies, personnel liabilities, underperforming resources/assets, and revenue assurance risks etc., and initiates strategies and programs designed to anticipate and minimize threats as well as reduce impact business performance
Prepares and presents regular risk analysis reports to top management of the bank, complete with actionable plans for avoiding or preventing potential threats at all levels.
Develops insurance strategies and financing techniques to appropriately deal with any unanticipated losses by the bank
Coordinates the preparation and management of all documentation related to risk assessments and reviews of standard operating procedures
Plans and manage activities of the Internal Controls & Risk Management function
Job Performance and Person Requirements
Educational/Professional and Work Experience Requirements
A first degree in accounting or a related discipline
A master’s degree or an MBA, will be of advantage
Membership of relevant Professional body ( ACCA, CISA or its equivalent)
Must have at least 10 years in risk management, insurance or liability research, or actuarial management experience
Job Knowledge and Skills Proficiency
Technical expertise in risk analysis, controls & management, auditing, financial accounting, systems audit, quality management
Proficient with risk management, auditing techniques, and accounting standards and principles
Must possess knowledge of risk analysis, database management, risk metrics, and capital management
Proficient in use of Microsoft office tools
Must be very familiar with insurance and liability as well as compliance standards for the banking industry, including financial, property, operational, regulations, and standards
Extensive knowledge of legal requirements and compliance regulations
Must have extensive knowledge of financing and insurance strategies to articulate preventive measures against potential losses
Generic Competencies
Strong general management skills (leadership, mentoring, performance management, interpersonal, people management, planning and control
Must have excellent communication skills, both written and verbal
Key Performance Indicators
Frequency of incidents Asset value
Non-conformities with risk management policies Financial losses
Internal audit performance and audit scores
Business continuity plans/disaster recovery/performance testing metrics
Risk appetite/treatment
Time taken to resolve issues
Financial Dimensions (GMD)
Asset value
Financial losses
Interested applicants should send CV's to
[email protected]
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