Risk Management Officer at The Lagos State Employment Trust Fund (LSETF)

Job purpose

Responsible identifying, measuring, managing, and reporting risks. Helping develop processes to better evaluate business-specific risk. Monitoring important as well as critical risk issues, conducting risk and compliance assessments.

Duties and Responsibilities:

• Manage Risk Management Policies and Processes
• Drive the Fund’s risk management strategy as defined by the Head Risk Management.
• Maintain a risk awareness culture within the organization.
•  Monitor and report on non-adherence to Fund’s risk framework / policies to the Board and Management providing advice on possible resolution of critical issues.
• Undertake the development, deployment, and analysis of Risk Control Self-Assessment Questions, Key Risk Indicators (KRIs), and other strategic risk parameters (key risk exposures and early warning indicators).
• Support the development of analytical systems, data management capabilities and processes.
• Proactive identification and analysis of emergent risks to the organization, design appropriate mitigations, and implement accordingly.
• Ensuring knowledge of the fund’s expectation is clear to the funds partner financial institutions.
• Continuous analysis of the funds partners and agreement to ensure all counterparty risks are adequately mitigated.
• Keep abreast with rules, regulations and best business practices and ensure dissemination to all in the organization.
• Undertake risk assessments of the organization’s investments, products, procedures, and service level agreements.
• Overall Fund and Loan Portfolio Management - Portfolio analytical work to provide senior management with current state of portfolio performance and provide recommendation to improve the portfolio quality and diversification.
•  Monthly Loan Portfolio Reporting/Data Analytics (Quality, Concentration Analysis, Geographic Spread, Sectoral Reporting, Beneficiaries' age, Quality Migration Analysis, Additional Employment tracking, Maturity e.t c)
• Conduct quarterly stress test on Loan Portfolio
• Ensure insurance of all beneficiaries, liaise with insurance brokers.
•  Maintenance of a good working relationship with fulfilment partners to ensure NPL ratio stays within agreed threshold.