Enterprise Risk Management Head at Rand Merchant Bank

Job Description

The role holder will provide day-to-day support to the CRO in overseeing the credit, market, liquidity and operational risk management framework of the Bank by ensuring the risk appetite and other risk control procedures and standards meet both legal and regulatory requirements, are appropriate for the Bank’s activities, and upholds the integrity and transparence of the Bank’s risk/return decisions.

Risk Management

• Oversee the Identification, assessment, measurement, monitoring, and control of Enterprise-Wide risks by risk owners (Credit risk, Operational risk, Market risk, Compliance, Legal risk.  
• Ensure adequacy of and coordinate the overall risk management processes of the Bank at all levels.   
• Champion and coordinate regular updates of the Bank’s risk policy reviews and approvals, while supporting the entrenchment of risk culture and ensuring adherence to risk policies within the Bank.   
• Review the different risk components (portfolio) and advise the Executive Management and the Board of changes as may be necessary.  
• In collaboration with the GTSY, support the management of the Capital Adequacy of the Bank by measuring, reporting, and advising on items that consume capital charge/capital allocation. Additionally, supports the Assets & Liability Management process in ensuring optimal liquidity, maximizing returns, and closing liquidity gaps.  
• Review and make recommendations on Credit Facility requests for approval before they are approved.   
• Implement and ensure compliance with Basel guidelines.  

Compliance

• Work closely with the CCO in engaging regulators and supporting regulatory advocacy initiatives
• Maintain an open and cooperative relationship with the regulators.   

Strategic Planning

• Review and guide the Risk Management Framework of all the risk pillars from an ERM perspective
• Participate in the formulation and implementation of the ERM strategy

Reporting

• Provide quality risk management reports to Management Committees and the Board Risk as well as Credit Committees
• Provide routine status updates on risk strategy implementation
• Present on Risk Management issues to relevant Management and Board committees

 Business Continuity Management

• Work closely with the Operational Risk team in the management of the BCM processes

    Environmental Social and Governance Risk Management

• Manage Environmental & Sustainability risks and contribute to the Bank’s sustainability & environmental initiatives.   
• Actively drive the ESG Steerco

    ICAAP/ILAAP

• Provide Risk input into the ICAAP and ILAAP processes

Capacity Development

• Support the CRO in assessing competency gaps in the risk team
• Identifying suitable risk management training options and facilitators
• Driving innovation

Skill Requirements

• Analytical Skills: The ability to analyze complex data and identify potential risks is crucial. This involves assessing various risk factors and their potential impact on the organization.
• Decision-Making: Ability to make informed decisions about risk management strategies and determine the best course of action to mitigate risks.
• Communication: Effective communication skills are essential for explaining risk assessments and strategies to stakeholders, including the board of directors and senior management.
• Leadership: Strong leadership skills to guide and influence the risk management team and ensure that risk management practices are integrated throughout the organization.
• Financial Acumen: A solid understanding of financial principles is important for assessing financial risks and making decisions that impact the organization’s financial health.
• Regulatory Knowledge: Familiarity with relevant regulations and compliance requirements is critical to ensure the organization adheres to legal standards and avoids penalties.
• Problem-Solving: The ability to develop innovative solutions to complex risk-related problems.
• Strategic Thinking: Ability to think strategically about how risks can impact the organization’s long-term goals and objectives.
• Technical Proficiency: Knowledge of risk management software and tools to facilitate the ability to monitor, manage, and report risks effectively.

 
Job Qualifications

• Minimum of a first degree in a numerate field.   
• Chartered accountant (ACA, ACCA) qualification would provide a strong advantage   
• At least 10 years of banking experience which must include at the minimum Credit and Market Risk Roles  
• Understanding of CBN prudential guidelines  
• Understanding of Banking Operations  
• High emotional intelligence and influencing skills  
• Good teamwork and a visible partnership orientation  
• Proven leadership strength and effectiveness