Manager, Risk Management (Operational Risk) at African Export-Import Bank (Afreximbank)

Reference: DLRF 3504
Location: Cairo, Egypt

Job Description

• The job holder will be responsible for Operational Risk Management activities including risk identification, assessment, mitigation, reporting and monitoring across the broad risk aspects of people, processes, systems, internal & external events, as well as Business Continuity Management oversight.
• The role is part of the broader enterprise risk management framework (ERM) of the Bank.
• While the job holder will have specific ownership for the Operational Risk profile, he/she will be responsible for other ERM related activities as appropriate.
• The role will require working with all stakeholders across the Bank, including Operations, Credit, Legal, Finance, Treasury, Compliance, and Origination functions.

Responsibilities

• Proactively Identify all material operational risks across the head office, branches and at each business unit level as per the Bank’s approved risk identification methodology, following a top-down approach and taking into account risk causal factors, the likelihood of occurrence, impact, control activities and effectiveness of controls.
• Effectively assess and measure all material operational risks in accordance with the Bank’s adopted Basic Indicator Approach or any other alternative approach as appropriate.
• Ensure the effective management of the Bank’s material operational risks through adequate process controls and ensuring adherence thereto as well as implementing specific action plans to manage the risk causal factors.
• Ensure that appropriate and/or adequate controls are in place at all times to effectively manage the Bank’s operational risks to within acceptable risk appetite.
• Ensure the effective management of operational risk through the prudent allocation of operational risk capital that is consistent with the approved measurement approach.
• Effectively monitor significant operational risk exposures as well as material losses and escalate the same to senior management for information and/or action. The frequency of monitoring should reflect the nature and magnitude of the risk exposures.
• Develop robust key operational risk indicators to serve as early warning indicators of increased risk, with appropriate risk threshold levels to provide a sound platform for the effective monitoring of operational risk exposures.
• Review all reports from internal/external audit, rating agencies and other assessing agents and ensure that identified operational risks are monitored and adequately managed.
• Ensure that business line management takes primary responsibility for the proactive identification of operational risks as well as the collection and timely submission of operational risk incident data to risk management department through agreed operational risk tool (e.g., risk registers, Key Risk Indicators, Risk and Control Self Assessments, etc.).
• Provide Business Continuity Management (BCM) oversight by monitoring to ensure that the Bank’s business continuity capability is in compliance with the laid down guidance as per RMPPs and perform all such other BCM related tasks as may be assigned by the Head of Risk.
• Perform secretarial roles to the Risk and Strategy Committee (RISTRAC).
• Provide advisory services to all stakeholders in the Bank on Operational risk management policies, practices, and standards.
• Ensure that the Bank’s Operational Risk Management Framework (guidelines, policies, procedures) is effective, current, and complies with best practice at all times by undertaking the proactive and periodic review and update of the framework.
• Ensure the effective implementation of the Bank’s operational risk tools (risk register, key risk indicators, risk and control self-assessments, etc.) through training, awareness and frequent monitoring. All breaches and overdue remedial actions shall be within the Bank’s risk tolerance levels.
• Inculcate the right operational risk culture across the Bank by ensuring appropriate accountability for operational risks at first line of defense level through training, awareness, escalation and reporting.
• Prepare timely, comprehensive and reliable risk reports to senior management and board on a monthly and quarterly basis. Such reports shall be reviewed and signoff by the Head of Risk.
• Attend Bank meetings both internal external from time to time as may be requested by the Head of Risk.
• Support the Head of Risk with the effective implementation of the Enterprise Risk Management (ERM) Framework to be able to establish an effective risk-based system to identify, measure, monitor, control and report bank-wide risks;
• Undertake all such other roles and responsibilities as may be assigned by the Head of Risk from time to time.

Requirements: Qualification and Skill

• A Bachelor’s degree in Banking, Finance, Economics or other relevant quantitative Business discipline plus an advanced degree from a recognized university;
• Strong operational risk experience within financial services/industry (retail, commercial and corporate and investment banking) with working knowledge of banking systems, procedures and controls
• At least 10 years’ professional experience in banking/ insurance/ finance/ internal audit/ compliance or related industry;
• Business product knowledge, including an understanding of financial processes to be able to determine their impact on risk and control.
• Familiarity with operational risk regulatory environment e.g. Basel II (BIA, AMA), Sarbanes-Oxley, etc.
• A professional qualification or certification in risk management, banking or other field is preferred;
• Applied knowledge of risk management standards and frameworks (e.g. COSO: 2004; ISO 31000: 2009; or BASEL II/III, etc.);
• Applied knowledge of Operational Risk Management tools (e.g. Risk Register, RCSAs, KRIs, Escalation Matrix, Stress Testing, Scenario Analysis, etc.);
• Proficiency in Microsoft Office programs including Word, PowerPoint, Excel, Outlook and other risk management system skills;
• Strong analytical and statistical skills. Ability to work independently with minimal supervision but collaborate with multiple team members;
• Ability to communicate and function in a culturally diverse and change-oriented setting with good knowledge of risk practices in Africa;
• Excellent oral and written communication skills in English. Knowledge of the Bank’s other working languages is an added advantage (French, Arabic, and Portuguese);

Contractual information

• Permanent
• Willing and able to relocate to Cairo
• Suitably qualified candidates from all African nationalities are encouraged to apply
• Tax-free salaries paid in USD