About the job

Role Objective

The Head of Risk (UAE) is responsible for leading the UAE Branch Risk Management function and providing independent oversight of the Branch’s overall risk profile. The role encompasses credit risk, market and liquidity risk, operational risk, including information security, technology risk, business continuity and fraud risk, as well as governance risk, credit administration and collections. Working closely with the Head Office Risk function, the Head of Risk (UAE) shall establish and maintain an effective risk management framework for the identification, assessment, measurement, monitoring, control and reporting of material and emerging risks. The framework shall be aligned with applicable CBUAE requirements, Basel/BCBS standards, Head Office policies and the Board-approved Risk Appetite Statement. The role is also responsible for maintaining a comprehensive risk reporting framework and ensuring that material risk exposures, limit breaches and emerging risk concerns are reported and escalated in a timely manner to the Chief Risk Officer, Chief Country Manager and relevant local and Head Office governance committees.

Detailed Roles and Responsibilities:

STRATEGIC

Develop and maintain the UAE Branch risk strategy, governance framework, policies and procedures in coordination with the Head Office Risk function, ensuring alignment with the Branch’s business strategy, regulatory obligations and approved risk appetite.
Ensure that material risk exposures, risk appetite or limit breaches, significant control weaknesses and emerging risk concerns are reported and escalated promptly to the appropriate UAE Branch and Head Office governance committees and, where required, to the CBUAE and other relevant regulatory authorities. Stay abreast of the regulatory requirements/changes set by the CBUAE and other regulatory bodies in UAE, and implement adequate changes in the risk management framework and /or department, including but not limited to staffing of employees, department deliverables etc.

OPERATIONAL

Review and revise the existing risk policies and procedures considering changing market conditions based on leading practices and CBUAE regulations and guidelines to ensure that a sound environment for identifying, assessing, measuring, monitoring and controlling risks are in place.
Take requisite actions, in consultation with the CCM to help manage the governance risk of the branch to ensure the UAE branch is in line with regulatory / compliance requirements (earmarked to the UAE branch) in a timely and robust manner
Work closely with Head Office Risk Management Department to ensure deployment of tools/ systems appropriate, effective and proportionate to the size, complexity and risk profile of the UAE Branch to facilitate monitoring of risk management at product/ portfolio level.
Contribute to the continual development, promotion and maintenance of common methodologies for identifying and assessing market/liquidity risk, credit risk, operational risk and determine the adequacy and cost effectiveness of risk treatments applied.
Monitor risk part of capital adequacy computations for regulatory reporting with respect to CBUAE Capital Adequacy Regulations.
Manage sound market and liquidity practices for the Bank for measuring, monitoring, and controlling Market, and Liquidity risks, in compliance with industry’s best practices, approved risk policies and procedures, and respective regulators (viz. regulators in the jurisdiction).
Guide the team in continuous reassessment of the existing market and liquidity risk environment and adjust measurement and controls along with the operating model and develop methods to enhance risk measurement and mitigation for optimal performance.
Guide the team in identification of areas with potential liquidity or ALM risk element which may be needed for escalation to the reporting authorities, Asset and Liability Management Committee (ALCO) and Risk Committee, as applicable.
Oversee the collection and maintenance of comprehensive data (viz. amount, frequency, severity etc.) on operational losses including losses due to people, processes or systems and analyze data by reason, Department, business etc. to comply with Basel requirements.

PEOPLE MANAGEMENT

Supervise direct and indirect reportees in their day-to-day tasks and guide them in managing their performance by providing appropriate feedback and counseling. Review recommendations provided by the team on hiring and promotions.
Perform final interview of candidates sourced for different units within the department, in accordance with the job specifications/requirements.
Allocate work deliverables, and support employees of department in efficient operations of day-to-day tasks and provide constructive and timely feedback to enhance performance.
Implement corrective actions/disciplinary procedures on account of employee nonconformance with the policies/procedures/ performance goals via the Bank’s Performance Improvement Plan (PIP) mechanism.

Educational Qualifications and Experience:

University graduate with a degree in Finance, Banking, Economics, Accounting, Business Administration, Risk Management, Mathematics, Statistics or any other related discipline.
A relevant postgraduate qualification, such as a master’s degree in Finance, Risk Management, Banking, Business Administration and any other related discipline will be an added advantage.
Professional qualifications such as FRM, PRM, CFA or an equivalent recognized risk-management qualification are preferred.
12-18 years of total experience in financial services/banking industry, entailing responsibilities pertaining to the specific area of discipline.
Prior Experience in similar capacity.
Candidates currently based in the UAE will be considered for this opportunity.

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