ERM / Market Risk Officer at VFD Group

Supervises: Other Risk Officer(s)

Job Summary

• Responsible for implementing Enterprise Risk Management with key focus on Market and Financial Risk within the Group

Department ERM:

• Operates within the GRC (Governance, Risk and Compliance) Group Directorate

Reporting Relationships:

• Reports To:
  • Executive Director (ED), GRC
  • Head, Risk Management & Compliance.

Key Task

• Responsible for Market and Financial Risk Management
• Assist with the implementation of the ERM Framework within the Group and Subsidiaries
• Business Continuity Management (BCM)
• Good understanding of Credit and Operational Risk
• Manage Asset and Liability Risk of the Group and Subsidiaries in an efficient and forward-looking manner
• Manage the Financial and Liquidity Risk position of the Group and Subsidiary through efficient cashflow planning
• Prepare weekly and monthly cashflow projections with inputs from all subs for adequate liquidity planning and cash allocation.

Responsibilities

• Develop standard statistical methodology and models to conduct market and financial risk measurement and valuation for the treasury positions
• Advice and support the GRC Directorate on the impact of MPC decisions and Circulars issued by regulators.
• Oversee the limit monitoring and escalation of breaches for conclusive resolution.
• Supervise and ensure timely submission of the directorate presentation for ALCO and Board meeting.
• Keep the Group abreast of developments in the global financial market and potential Market risk.
• Develop and assign Treasury / Trading limits attached to products and desks to mitigate liquidity risk and safe-guard risk capital.
• Develop standard reporting templates, dash boards to be utilized by the Group.
• Provision of overall leadership and direction to the Market, Financial and Liquidity Risk Team.
• Ensure continuous review of procedures and models for the management of market and financial risk within the Group and Subsidiaries
• Effectively supervise the stress test process to ensure the simulation model captures the actual risk faced by the Group
• Daily monitoring of the Treasury Placement limits with counterparties to ensure the GroupТs capital is protected
• Daily monitoring of Net Open position of regulated subsidiaries to ensure compliance with regulatory benchmark
• Review of the balance sheet trend analysis to monitor key performance ratios in terms of liquidity, risk asset exposures, deposit concentration, earnings.
• Conduct regular stress test on the Group and Subsidiaries portfolio using a simulation model to evaluate the potential impact on Capital and Liquidity requirements
• Regular review of Treasury asset position in terms of liquidity. Searchlight on asset concentrations that could increase liquidity risk.
• Prepare periodic Gap analysis report to measure interest and liquidity risk.
• Review of the Contingency funding plan at intervals to ascertain its relevance
• Regularly liaise with Portfolio Reporting & Returns, Finance and IT to identify data required to develop technical process that will comply with regulatory requirements.
• Daily review of Treasury trading blotters- Fixed income and FX
• Daily monitoring of treasury / trading limit to ensure limits are not breached during transactions and also follow-up on exceptional approvals conclusively
• Conduct models variation and first level validation exercises for Market Risk Measurement systems.
• Preparation of ALCO report with Treasury ALM Desk and support in board reporting.
• Regular risk measurements and valuation of Treasury Positions/Products with statistical model e.g. Value at Risk model
• Develop risk models to measure other risk parameters including beta, duration and convexity
• Provide support and training to staff to build risk awareness
• Prepare/compile agreed periodic activity and performance reports for the attention of the ED-GRC, GMD/CEO and relevant Board Committee.
• Perform any other duties as assigned by ED-GRC and Head, Risk Management & Compliance

Key Performance Indicators
Financial Target:

• As agreed from time to time

Non -Financial Target:

• Timely and discreet execution of investigations
• Reduced fraud cases
• Reduced number of mitigated risks

Specification / Qualifications

• First degree or its equivalent in any discipline, MBA or Master's degree required
• Minimum Experience: Four (4) years relevant experience of which at least two (2) years must have been spent in a similar role.
• Professional Membership: Certified Risk Management Professional (CRMP), PMI-Risk Management Professional, RIMAN Certified Risk Manager (CRM), and any other relevant risk management professional memberships
• Other relevant professional qualification: ACA, ACCA, CIMA, CFA would be an added advantage.

Competence Requirements
Core Skills:

• Ability to analyze financial data and prepare financial reports, statements, and projections
• Knowledge of finance, accounting, budgeting, financial statements and cost control principles
• In-depth understanding of the organizationТs business issues.
• Good communication skills.
• Attention to details and analytical
• Good Management abilities.
• Excellent communication & presentation skills
• Negotiation
• Working knowledge of Microsoft Office Suite and other relevant accounting tools
• Knowledge of corporate governance practices
• Ability to read large volumes of documents effectively and extract necessary information

Generic Skills:

• Team work
• Integrity
• Pro-activity
• Detail orientation
• Interpersonal
• Time Management
• Organisation
• Team work.