Job description / Role
Risk Supervisory Function
• Assist the senior management to establish and communicate the Bank’s enterprise wide risk management objectives and direction and submit recommendations to the Board.
• Assist management in integrating risk management with the business and risk strategy development process.
• Review and comment on the strategic plan and budget of the Bank as part of ICAAP framework to ensure effective capital planning and management in the Bank.
• Assist the Senior Management to develop and communicate risk management policies, risk appetite and risk limits and submit recommendations to the Board.
• Assist Senior Management with capital and resource allocation decisions and submit recommendations to the Board.
• Assist in developing risk measurement, monitoring and mitigation strategies for the Bank’s and group’s material risks including Information Security risks.
• Advise the senior management on the best practices in Enterprise wide risk management and submit recommendations to the AGRMC.
• Review of status of Information Security in the Bank and external information on Information Security and submit the same to the Senior Management and AGRMC.
• Risk Management Function
• Develop and implement the risk management infrastructure of the Bank.
• Develop, review and maintain risk policies and procedures to establish the risk management and control framework on the various business operations of the Bank. This is to be performed in coordination with the business and support functions.
• Evaluate the operational procedures, developed by the various business and support functions, to ensure their compliance with risk policies.
• Develop, review and revise risk measurement methodologies and internal risk models, for all major risks in line with international best practices, BIS and regulatory guidelines.
• Establish, communicate and facilitate the use of appropriate risk management methodologies, tools and techniques within the Bank.
• Work with business and support units to establish, maintain and continuously improve risk management capabilities.
• Facilitate enterprise-wide risk assessments and monitor material risks of the organization.
• Implement appropriate risk reporting to the Board, AGRMC and senior management.
• Perform business, financial and operational risk analysis that impact top-line and bottom0line results and thereby support senior management in their decision making.
• Review and assess financial risk in various business proposal independently and recommend risk mitigation solutions for business proposals as per the overall risk appetite and risk tolerance level of the Bank.
• Ensure that the business proposals are in line risk appetite and risk policy of the Bank.
• Prepare specific risk reports for presentation to Senior Management advising them of pertinent issues relative to enterprise wide risk issues.
• Assist the Bank personnel in resolving inquiries or issues relating to risk matters; participates in various internal committees assigned by the Board and Senior Management.
• Coordinate and arrange for ICC (Investment and Credit Committee) and ISSC (Information Security Steering Committee)meetings.
• Review and recommend IT support required for a smooth enterprise wide risk management function in the Bank.
• Create a culture of intelligent risk-taking, heighten awareness and use of advanced risk management practices through educational programs, training process and personal mentoring with senior executives, business unit management and general staff.
• Ensure that sufficient risk and financial disclosures are available to all the stakeholders in the financials and annual reports of the Bank as per the regulatory requirements.
• Coordinate with the Internal Audit, External Audit and Regulatory Authorities to ensure effective alignment of enterprise wide risk management processes with other control functions and supervisory guidelines.
• Monitor the Risk Management functions of the financial subsidiaries to bring them in line with that of the Bank, as per the direction of the CBB.
• Risk Management Department
• Manage the RMD as a key department for the implementation of risk management function of the Bank.
• Ensure that RMD has adequate resources in terms of qualification and experience of personnel and other resources to carry out its functions effectively.
• Assume and delegate responsibility for special projects; gathers data and prepare reports for Senior Management.
• Monitor staff in daily tasks, departmental operations and quality control; ensure the organization of assigned areas of the department, coordinating available resources (e.g., staff, materials, etc.) for maximum results.
• Implement cost control measures for the department and monitors expenses to ensure compliance with budget.
• Play a positive role in the development and growth of assigned department staff through excellent communication skills, both verbal and written, along with strong delegation skills assuring a highly well-trained staff.
• Perform personnel actions including performance appraisals, disciplinary actions, and interviewing candidates for employment; supervise the daily activities of the department including, but not limited to, effective delegation of assignments, developing work schedules and providing necessary training.
• The Chief Risk Officer is also be responsible for coordinating with the financial subsidiaries, as defined by the AGRMC, for risk management matters as provided for in the Group Subsidiary Governance Policy of the Bank.
• Ensures Bank policies are updated to reflect changes in law or regulations; recommends changes to policies and procedures to minimize risk.
• Assists all areas of the Bank to coordinate inter and intra-departmental activities; resolves inquiries or issues relating to administrative functions; participates in various internal committees assigned by the CEO.
• Set and manage employees’ short and long-term responsibilities and objectives in line with the department plans and Bank's strategy to ensure smooth running of the department activities and projects.
• Serve as the department main point of contact; externally with management, other departments and third parties to and provide reports and resolve issues and internally to respond to employees requests, enquiries, grievances and resolve issues.
• Financial management of the department, including but not limited to preparing and administering the department budget in line with the Bank strategy, and ensuring that budget targets are met.
• Identify current and future training needs, provide training and professional development and manage the department's training plan and professional competence to maintain a standard understanding among team members about policies, procedures, laws, rules, regulations and best practices to ensure ongoing development.
• Responsible for the department’s policies and procedures to be comprehensive and updated.
• Provide guidance, leadership, coaching and motivation to employees to create a positive, encouraging and effective working environment.
• Manage the employee’s performance appraisal, promotion, salary increment and career path.
• Coordinate the department logistics and resources.
• Manage the department's recruitment and selection process.
• Perform other duties and tasks as assigned by the Chief Executive Officer.
• An appropriate level of experience and standing to demonstrate suitable independence from other functions within the bank.
• A good understanding of banking business and the wider industry and its regulatory environment.
• Understanding of the sensitivity of potential issues identified.
• Ability to provide regulatory guidance and interpretation to business unit and support function personnel, monitor issue to resolution, and follow up to validate potential issues are resolved in accordance with the applicable regulatory requirement.
• Teamwork with the Sharia, Legal, Corporate Communications, Financial Control, Internal Audit, and the various business units.
• Ability to interpret the regulatory requirements and apply them to the business processes and effectively communicate to the business unit and support function personnel is extremely important.
• Understanding of CBB Rulebooks.
• Understanding of Basel II, FAS/IFRS (applicable provisions).
• Audit examination ability.
• Excellent ability to interpret and communicate regulatory guidance.
• Experience in developing and implementing risk management policies, programs, and procedures, including regulatory risk assessments.
• Ability to influence people in other department and functions to achieve consensus on regulatory risk issues and appropriate mitigation.
• Excellent analytical, communication (verbal and written), organizational, business acumen, and report writing skills.
• Academic Qualification(s):
• Hold a degree from a university at bachelor level or higher or a relevant professional qualification, including BIBF Advanced Diploma in Islamic Finance.
Have relevant certification(s) specific to this role. Such certifications may include but are not limited to:
• Institute of Risk Management qualifications (IRM); or
• Financial Risk Manager (FRM); or
• Professional Risk Manager (PRM); or Other relevant qualifications.
• 7 years of practical experience in a bank and of which at least 5 years in a risk management position.
About the Company
"One Vision for Consultancy" is a one stop professional service provider specialising in:
Employment Consultancy (Human Asset Recruitment & Talent Acquisition): Using a competency based frame work; we indentify the best candidates to fit your unique organisational needs. The objective is to ensure recruitment of high potential talent for long term retention with the capability of achieving succession planning in the organisation. We offer both contingency and retained search.
Our executive team, with their strong corporate and business backgrounds and track record of success, will help you identify and recruit candidates within a short time frame to meet your business needs and requirements. We source talent worldwide as required by specifics or as set by the client.
Facilities Managed Services: We provide staffing resources and services for short as well as long term basis to support front and back office requirements.
Computer Software Design Development and Maintenance: Our objective is to first and foremost understand our clients and their requirements. We work with business alliance partners who have experience, highly skilled technical professionals, a working methodology and good industry knowledge. We provide our clients with solutions that are capable of driving projects to successful completion and customer satisfaction. Provide onsite IT professional for IT maintenance, support, system study, development, implementation or consultancy.
Technical Assistance to maintenance and operations of facilities: System studies, design, develop, implement, support, maintain and manage operational plant services.
Staff augmentation of professionals for short and long term projects.
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Risk Senior Manager