ABOUT THE ROLE
In collaboration with the Manager and Lead, the role is responsible for formulating and quantifying the company risk appetite metrics, measuring the company's risk profile, and recommending any necessary corrective actions. This position contributes to the development of enterprise-wide quantitative risk measurement models, methodologies, and techniques such as FAS 30/IFRS 9 risk modeling, economic capital, and risk rating models. An independent high-level risk oversight and reporting of the company’s financial and non-financial risk profile is a key responsibility. The role also provides technical guidance to the Portfolio Risk and Reporting team for credit risk management activities and assists in developing and implementing an appropriate portfolio risk management framework and guidelines. Additionally, the role offers technical guidance to junior team members.
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KEY ACCOUNTABILITIES
Portfolio Risk Management and Reporting:
- Prepare the company-wide Risk Report covering risk governance, assessment of credit, market and operational risks, and other relevant reports, including analysis, recommendations, and write-ups.
- Contribute to the formulation of the company-wide risk appetite framework (RAF) and ensure it is cascaded to the company’s day-to-day business via Target Market and Risk Acceptance Criteria (TM/RAC).
- Review, update, and maintain the company-wide Exposure Management Framework covering financing operations, treasury, and investment activities.
- Develop, review, and maintain an Economic Capital Adequacy Framework and Model along with its related guidelines.
- Review, update, and maintain risk models and parameters such as Probability of Default (PD), Loss-Given-Default (LGD), Exposure-at-Default (EAD), correlations, etc.
- Undertake the development, review, and maintenance of IFRS 9 Expected Credit Loss (ECL) methodologies and models to determine impairment levels and provisions based on IFRS9 for the company-wide portfolio.
- Develop and maintain a company-wide risk-adjusted return on capital (RAROC) framework and analytics.
- Develop and implement a stress-testing framework for the company's economic capital adequacy model that enables proactive assessment of potential impacts of changing market and financial conditions on financial sustainability and its impact on the company's credit rating.
- Prepare portfolio data for internal and external processing, including periodic submission to credit data pooling consortiums of MDBs and International FIs.
- Monitor the risk profile of sovereign and non-sovereign operations financing portfolio, ensuring that risk profiles remain within established limits.
- Review and provide feedback on new policies and guidelines drafted by the Finance Complex and Operations-related complexes concerning credit risk.
- Contribute to the implementation of an Enterprise Risk Management (ERM) system, tools, and framework.
- Collaborate with the IMDT for developing information systems that produce reports required for its independent risk reporting to President and BED Committees.
- Assist in coordination efforts with concerned Departments on all matters relating to ratings of the company or instruments for the company and collaborate with other Divisions of the Risk Management Department, including sukuk issuances and providing risk management input for annual reports.
- Support and contribute to the process of the company’s external rating assessments, preparing and collating the rating file for each external rating agency.
- Provide support to the Management and relevant units on high-level portfolio risks and reporting.
Operational Excellence:
- Provide technical guidance and review the work delivered by less experienced team members.
- Monitor effective implementation and adherence to respective risk management policies, procedures, and controls to ensure all relevant procedural/legislative requirements are met.
- Stay updated on the latest developments, regulations, and best practices in the field, proposing necessary changes as required.
- Propose and implement process improvements to enhance the efficiency, effectiveness, and compliance of related operations.
- Contribute to the preparation of work plans and financial budgets for the portfolio risk and reporting function, monitoring actual expenditure against the approved budget.
ACADEMIC AND PROFESSIONAL QUALIFICATIONS
- Master’s degree in Economics, Finance, Risk Management, Mathematics, Business Administration, or related discipline.
- Professional certifications such as CFA/PRM/FRM/CQF or equivalent are preferred.
- Minimum 8 years of relevant experience in the risk management function, ideally with 3 years in Multilateral Development Banks.
- Languages: English (Mandatory), Arabic (Preferred), French (Preferred)
SKILLS & NECESSARY KNOWLEDGE
- Advanced knowledge of statistical analysis, programming languages such as Python/R/SQL, financial modeling, and reporting.
- Practical experience in implementing frameworks for economic capital and loan loss provisioning.
- Comprehensive understanding of Multi-Lateral Development Banks (MDBs) in Credit Risk.
- Hands-on experience in developing risk policies and guidelines.
- Familiarity with country risk assessment methodologies.
- Knowledge of corporate and project finance, and financial institutions risk assessment.
- Understanding of MDBs' ratings methodologies from rating agencies.
- Expertise in IFRS 9 and credit risk modeling.
- Awareness of Islamic finance practices.
- Experience in stress testing and governance, risk, and control.
- Strong analytical thinking and problem-solving skills.
- Proficient in stakeholder and people management.
