Chief Risk Officer

Main Responsibilities

• Advise on, and protect BRD against risks inherent in their operations (identity, measure, monitor and enforce effective mitigation of risk exposures);
• Take a role in management decisions, ensuring that decisions taken conform to the risk parameters approved by the Board of Directors;
• Develop risk management strategies to provide a structured and coherent approach to identifying and assessing the Bank’s risk;
• Develop the bank’s Risk Management Frameworks to provide the guidelines required in delivering proactive risk management for the bank;
• Develop the budget required for the successful implementation of the BRD Risk strategy to ensure timely allocation of budget;
• Develop the policies, procedures, and processes required to provide the guidelines required to undertake quality and timely risk management;
• Develop implementation plans for the risk and compliance functions, to ensure the teams are guided in the effective and efficient implementation of the strategy;
• Define the banks risk appetite and advice management on strategies to strike a balance between actively managing the risk of transferring the risk through insurance;
• Establish an early warning or trigger system for breaches of the bank’s risk appetite or limits and influence to reduce the response time on potential risk;
• Undertake risk analysis of all functional areas to identify areas of vulnerability and identify ways of risk avoidance;
• Monitor the loan and investment portfolio quality and stress test the Bank’s financial variables in relation to environmental changes and impact on Bank’s performance;
• Continually measure and monitor the risk environment and the performance of the Bank’s risk management strategies to inform decision making;
• Inculcate a bank-wide risk awareness culture to enhance a comprehensive and holistic approach to risk management;
• Periodically report to the Board of Directors on the creation of probability distributions of all material risk and their portfolio effects, to inform the possible impact on the bank’s key performance metrics;
• Develop and implement the bank’s business continuity plan processes to address disaster recovery, business recovery, and emergency response management;
• Review the global change agenda and advise the bank on the interlinkages of regulatory changes across jurisdictions to prevent subsequent fines and penalties;
• Evaluate new laws and regulations and stay abreast of all legislative and regulatory developments both locally and internationally and analyze their potential impact on the Bank;
• Advise the business on potential ways to gain strategic advice by intelligently managing risk;
• Express concern about decisions to the executive management or board of directors, in case risk related positions are made against the recommendations of the risk manager;

Professional, academic qualifications and experience

• Master’s degree in Finance or any other related field
• Bachelor’s degree in Accounting, Commerce, Business Administration/ or related field
• A Professional Certificate in Risk Management, Association of Chartered Certified
• Accountant (ACCA)/ Certified Public Account (CPA)., Chartered Financial Analyst (CFA) will be an added advantage
• A minimum of ten (10) years’ experience in accounting and finance management (preferably in risk management), two (2) of which must be in a senior management level in a similar institution

 Core competencies

• Understanding of risk and compliance strategies, policies and procedures
• Good understanding of banking regulations, practices, and standards
• Understanding of risk management and compliance systems
• Understanding of regulatory and professional standards
• Knowledge risk and compliance risk concepts and environment
• Strategic Investment Analysis
• High level of accuracy in evaluating financial records and documents
• Knowledge of best-practice risk and compliance frameworks
• Excellent modeling and scenario testing
• People and Team Management
• Advanced Reporting Skills