Operational & Market Risk Management AVP
Reporting to: Head of Enterprise Risk Management
Responsible for Operational & Market Risk Management, formulates and monitors the Al Baraka Banking Group (ABG)’s Operational and Market Risk polices, develops and implements the operational and market risk management framework for risk identification, measurement and mitigation and coordinates all necessary steps for adhering to the regulatory requirements under the Central Bank of Bahrain’s rules. He/She is also responsible for introducing and implementing Operational and market risk measurements systems/software, monitoring the ABG subsidiaries’ compliance with Operational and market risk management standards and supporting the chief risk officer, board risk committee and/or the Executive Management (through operational & Market Risk reports/ dashboards), in its engagement with and oversight of the development of the bank’s operational and market risk strategies, risk appetite statement (RAS) and for translating the Operational and Market risk appetite into a risk limits structure.
Reporting to the Head of Enterprise Risk management (ERM, which is part of the AGB Credit and Risk Management Department), the AVP-ERM will be in charge of:
- Maintaining industry standard best practices for operational and market risk management in the group.
- The overall design, implementation and review/ongoing maintenance of the operational and market risk management frameworks, including policies and procedures, risk measurements, risk models, risk control effectiveness, monitoring & reporting tools.
- Overseeing the execution of all Operational and Market risk governance activities with a view to improving the Bank’s Operational and Market risk control framework.
- Monitoring performance relative to operational and market risk-taking and risk limit adherence.
- Controlling and reporting on these exposures and ensuring compliances with relevant internal and regulatory limits.
- In the context of Basel II and III Accords and Central Bank of Bahrain (CBB)’s regulations developing necessary policies and procedures for CBB’s directives
- Ensuring adequacy and accuracy of reporting of Operational and Market risks both internally and externally including regulatory compliance.
- Reporting to Board & Executive Management (Board Risk committee/ Management risk committee) on key relevant Operational and Market risk metrics and Dashboards for the group and on any other relevant information.
- Ensure the implementation of early warning systems that highlight possible deterioration in the market & investment portfolios to initiate corrective actions on a timely basis.
- Promoting and embedding a strong Operational and Market risk culture within the firm, including educating and training staff on potential operational & market risk and the techniques used to mitigate such risks.
- Developing implementing and periodically reviewing the operational & market risk stress-testing framework of the Group with close collaboration with concerned other ABG’S departments and Subsidiaries.
- Demonstration of the highest level of integrity in all matters
- This role requires an individual who can covert technical information into easily comprehensible data for business colleagues and key stakeholders
- Proactive, likely to instiate & manage change
- Excellent time management
- Excellent communication skills, Independent, Self-disciplined, Confident in writing and speech, team player
Fully familiar with all aspects of Operational and Market Risk Management on up-to-date basis, including the understanding of concepts and overall approaches of the following:
- Event Loss Data management
- Key risk indicators (KRIs)
- Risk control effectiveness Framework
- Risk control self-assessment (RCSA)
- Operational & Market risks stress testing and Risk appetite
- Risk Mitigation Actions
- Risk policy & Governance
- Operational & Market risk capital requirement
- Value at Risk (VaR) / Expected Shortfall risk measures
- Profit Rate Risk in the Banking Book (PRRBB) risk measures/ methodologies
- Operational & Market Risks Reporting and Analysis
Bachelor/ Master or equivalent University degree and relevant professional degrees/ certificates (FRM, CPA, CFA, GARP…)
- Substantial experience of Risk management within regulated finical services organizations
- Experience in design and implementation of effective risk frameworks
- Minimum 7-10 years in senior risk management role at large regional and/or international banks.