Duties and Responsibilities:
The employee will be responsible to:
· Identify, measure, assess and mitigate all financial and non-financial risks, stress tests.
· Drive top-down Risk Management functional governance and oversight to the subsidiary through collaborative engagement with the subsidiary Management Board; engage with Management on the establishment of risk appetites, monitoring methodologies, reporting and management of corrective actions to address identified issues and control deficiencies.
· Communicate all aspects of the Risk Management Policy and supporting Appendices, Guidelines and Manuals to ensure they remain perpetually current and relevant.
· Provide risk analysis and quarterly reporting of key projects that support the strategic initiatives of FINCA Pakistan through proactive engagement with the project teams.
· Proactively follow up with Management Board for the timely submission of quarterly KRI reporting that is required for the board reports.
· Provide support and advice in design and deployment of the overall risk management framework, including risk strategy, polities, appetite and tolerance.
· Develop and oversee risk strategy, policy, framework, methodology and MIS, with the active support and involvement of the business, operations and the other functions, to ensure compliance with the applicable risk management local regulations or other generally accepted risk management practices within the banking industry.
· Proactively supervise the credit due diligence (360 degree analysis), covenant placement and monitoring, risk analytics, financial modelling, internal risk rating, peer analysis, compliance of Bank and SBP Policies.
· Report to the Management and Risk Management Committee of the Board on the risks pertaining to the Bank’s business areas such as Credit, Market, Liquidity and Operational Risk.
· Ensure 360 degree credit risk monitoring by working closely in line with the business and operations function.
· Manage the process of identifying and assessing the risks and organize appropriate internal and external risk reporting.
· Monitor the industry concentration limits for the bank in line with bank's policy, national and international economic indicators, Central bank directives etc. on real time basis.
· Establish risk manuals and maintain relevant documentation for audit and inspection.
· Monitor compliance with risk limits set and report unfavorable deviations following the company’s internal procedures and the regulatory procedures on such matters.
· Act as an observing member of various management committees such as Asset-Liability Committee etc.
· Will ensure that operational risks are appropriately identified, measured, reported and managed in alignment with the organizations risk tolerances and in compliance with laws, regulations and internal policies and standards. This will be accomplished by working collaboratively with other staff across the Business Units, Compliance, Legal, and Internal Audit as well as through independent thought and challenge
· Meet all the Regulatory requirements with respect to Risk Management.
· Practical banking and/or microfinance operations experience (7+ years)
o Can be credit, operations, audit, client-facing roles and/or risk management/internal control – any combination of experience
o Strong business acumen
· Leading virtual teams and/or management experience including project management
o Not necessarily direct people management but team leadership (e.g., project lead) experience
o Strong inter-personal skills
· Strong communications skills in English – executive writing & reporting
o Written and verbal
o Ability to proactively engage with members of subsidiary senior management and to liaise with network peers
· Analytical skills
o Translation of data/information into meaningful interpretations (e.g., future trends and identification management)
o Critical-thinking skills
· Strong understanding of ERM and/or internal controls framework (e.g., COSO)
o Helps with the “why” we do what we do and brings structure to the program
o Profound knowledge in the field of risk management
o Strategic planning/management; proper understanding of FINCA’s business model to assist with development of reasonable risk tolerances
o Conceptual skills include the ability to adopt a horizontal, portfolio approach of ERM
· Planning, organizing, decision making, management process, ethical judgment, organizational architect, strategic thinking.
· Motivated, consensus and team builder, innovative, negotiator, experienced and consultative.
· Strong team player with good organization, planning and leadership skills, influencing.
· Excellent interpersonal skills, including oral/written communication & influencing skills.
· Risk Analysis: Link risk initiatives into critical business drivers; perform risk identification, measurement, and analysis applying statistical concepts; create valid risk forecasts; perform risk mapping and risk profiling; determine the cost of risk.
· Risk Management Process: Understand risk management model; adapt a model to the organization’s needs; understand how risk creates value. Know the risk management process of creating a risk program, analyzing risks, identifying solutions, using a decision process, and system administration.
· Risk Control: The ability to apply risk control theories to create prevention, reduction, enablement, and enhancement tactics; can create emergency response and business continuity plans.
· Risk Financing: Thoroughly understand risk retention plans and risk financing transfers, including insurance, alternative risk financing, and hybrid plans; prepare allocation to cost centers.
· Enterprise Risk Management (ERM): Understand the techniques and processes for optimizing risk taking decisions with in an organization.
· Project Management: Understand how to successfully design and implement projects; can prepare risk management reports.
· Insurance Knowledge: Understand the basics of 1) contract provisions and legal doctrines; 2) claims management; create portfolios of and place insurance coverage; be knowledgeable of global insurance markets; pricing; risk aversion; regulation; and able to negotiate, write and renew insurance contracts.
· Vendor Relations: Establish and maintain agent/broker relationships; develop other vendor relationships (third party administrator (TPA), RMIS, legal, safety, etc.).
· Risk Management Information Systems (RMIS): Implement and operate comprehensive RMIS and claims management systems.
· Ability to travel.