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DIRECTOR – GROUP RISK MANAGEMENT

Must have Shariah Law experience

TAX FREE Saudi

OPEN TO ALL NATIONALITIES

victoria@frgr.org

Our client is a leading international Islamic Bank with locations around the world. They have an excellent reputation globally and in the Middle East with expansion plans for 2011

We are looking for a highly experienced, senior professional to be the Director for the Group’s Risk Management Department. Based in Jeddah, Saudi Arabia
 

OVERVIEW

To provide strategic direction, motivational leadership and operational oversight for the Group Risk Management Department

Determine the strategy for the Department, set and deliver ambitious objectives that enable the company to achieve its goals, and take the significant operational decisions.

To lead the development and implementation of comprehensive risk management strategies, frameworks and systems and direct the activities of the Group Risk Management Department to ensure that the Group maintains an acceptable risk profile and creditworthiness

Reports to: Company President
Direct Reports: Credit Risk Division Manager & Market Risk Division Manager

KEY RESPONSIBILITES

Strategy development and business planning

·         Lead the formulation, development and implementation of the Group Risk Management Department strategy in support of the company’s goals and in response to emerging trends or client/ customer needs

·         Develop, implement and monitor the Group Risk Management Department’s business plans, KPIs budgets and objectives; provide regular management reports that include insight, analysis, forecasting and comment on Department performance and results

·         Identify opportunities and champions initiatives that enable the Group Risk Management Department to increase its impact, encouraging Department members to fully contribute

·         Establish Group’s strategic risk management approach in capital adequacy, asset-liability management (ALM), credit exposure and operational processes and aligns to Group’s overall strategy

·         Provide inputs and recommendations to the group management on appropriate risk strategy and governance of the Group and its affiliates to maximise economic return against business goals and mitigate operational risks

·         Coordinate and interface with other Departments in order to obtain buy-in to the risk management approach and implementation of the strategy

Risk policy & framework

·         Define and manage the Group’s risk framework including risk policies and procedures in order to enable proactive risk management within the context of a dynamic operational environment, shariah compliance norms and best practices

·         Monitor the adherence to procedures, methodologies, approach and systems used in risk management throughout the bank and takes corrective action as necessary

·         Oversee communication of the policies to all group, bank and affiliate levels and ensure that the policy is cascaded down through internal audit reports

Monitoring & reporting

·         Monitor all activities related to risk identification and assessment of the various stakeholders involved in the financing and investment operations of the Group

·         Establish and monitor exposure limits for counterparties, capital  adequacy and liquidity levels

·         Monitor and report a broad range of advanced risk measures (such as stress testing, value-at-risk, risk factor sensitivity analysis, and other measures) to enable the Group Management to have a comprehensive understanding of risk positions, market conditions, and the impact of new initiatives

·         Submit periodic risk reports to Group Management highlighting performance against risk parameters and overall risk positions of the Group and its affiliates

Advisory

·         Provide the highest level of advice and recommendations to Group Management on risk guidelines, regulations, compliance requirements and customer due diligence

·         Advise on the development of operational business continuity and contingency plans to ensure the Group is able to fully meet its operational commitments

Relationship Management

·         Develop and maintain effective internal and external relationships through individual contacts and group meetings

·         Represent the Group Risk Management Department in internal and external meetings and committees

·         Maintain high level relationship with rating agencies to understand and implement compliance requirements in order to maintain high credit rating for the Group

·         Share risk information with all business managers to build risk management knowledge and enable them to use this knowledge to benefit their business decisions

Performance management

·         Provide motivational and inspirational leadership for the Group Risk Management Department, and communicates to Division Managers clear performance expectations

·         Manage the performance and resources of the Group Risk Management Department through delegation of responsibility, setting stretch objectives and providing regular feedback on results at a Department and Division level, promptly addressing areas of underperformance

·         Monitor and assess the skills and capabilities of the Department, and determine the actions needed to increase the Department’s impact or to resolve capability gaps

·         Coach, mentor and develop the Division Managers and the top talent/high potentials in the Department; succession plan for key roles

·         Act as a role-model to communicate to Department members the company values and leadership competencies; provides direction and support in times of change

ESSENTIAL REQUIREMENTS

·         Minimum 10 years of Risk Management experience

·         Experience in a Bank at a senior level

·         Knowledge of global risk management principles, practices and tools including Basel II

·         Knowledge of Shariah Laws required

·         Minimum Bachelors’ degree in finance, business administration, mathematics, statistics, operations research or a related discipline

·         Internationally recognized risk management certification

·         Best practices in risk management methods, i.e., value-at-risk and stress testing and in the use of advanced quantitative techniques

·         Open to all nationalities with Shariah Law experience

KEY SKILLS

·         Innovation & Future Focus

·         Leadership & People Management

·         Technical Competencies

·         Change & Transition Management

·         Solution & Result Management

·         International & Multicultural Collaboration

·         Communication & Partnership

BENEFITS

·         Salary will depend on experience levels

·         Excellent high quality benefits package with accommodation/ transport/ education paid for

·         Excellent Bonus structure

·         Relocation package & visa arrange for you

·         TAX FREE Earnings

To apply in confidence please email your CV to victoria@frgr.org  

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