The role requires to cover Uganda and other East Africa countries being Kenya, Tanzania and Zambia from an Operational Risk Management perspective. In addition to that, the role of Country Head of Risk Management for Uganda needs to be covered as well. This will require oversight of Credit Risk, Market risk, Operational Risk, New product and new activities, and other relevant risks within the Franchise, ensuring compliance with policies and procedures as defined by the Regulators, Citi and Country management.
Operational Risk Management:
Oversee management of risks inherent in Operational risk within Uganda and other countries. Ensure that appropriate policies and procedures as defined by Citi and Country management are effectively followed through the development of strategies to identify, measure, monitor and control operational, market, legal and reputational risks confronting the Bank.
Country Head of Risk Management:
The Country Head of Risk Management is responsible for identifying, measuring, controlling, overseeing, monitoring and reporting the overall risks of the franchise(s). The requirement of the role includes:
- Establish, implement and enforce a robust risk management framework and systems (policies, processes and tools) in line with the Guidelines/instructions from the regulators on Risk Management
- Ensure that appropriate policies and procedures as defined by the Regulators, Citi and Country management are effectively followed through the development of strategies to identify, measure, monitor and control operational, market, credit, legal and reputational risks confronting the Bank
- Champion the implementation of a Risk Management framework that best serves the businesses of the Bank.
- Forge partnerships with the Business Unit Heads in order to achieve the bank-wide risk agenda.
- The Country Head of Risk Management will have oversight of the management of Credit Risk, Operational risk, Liquidity/Market risk, New product and new activities, and other relevant risks within the Franchise, ensuring compliance with policies and procedures as defined by the Regulators, Citi and Country management.
- The Country Head of Risk Management does not handle any trade, financial or bookkeeping transactions.
- Interaction with Regulators related to the various risk functions / areas of the business (Operational, Market, Credit Risk, outsourcing, systemic, model etc.).
- Prepare and submit relevant regulatory reports
- Proactively assist the businesses, O&T, and the independent control groups in enhancing the effectiveness of controls and managing operational risks across products and business lines
Governance and Managers Control Assessment
- Challenge the effectiveness of the Manager’s Control Assessment (MCA) and challenge the ‘risk set’
- Partner with the business on the implementation of MCA enhancements.
Permanent Control functions
- Ensure Policy/Procedure/Regulatory Compliance in conjunction with Compliance Department.
- Provide Control Counselling, Advisory and Decision Support Service including performance management to business units and strategic resource functions.
- Create and maintain effective internal control system and Control Culture in the Bank- Head Office, branches and every location the bank operates from.
- Make suitable recommendation for policy amendments and control improvement based on emerging issues/risks
- Timely identification of risk and highlight of the same to management committee, Risk Committee, Audit committee and the Managing director of the affiliates
- Ensure timely reporting of exceptions to the business heads and to group.
- Ensure implementation on the countries Operational risk Model
- Work with Country Management to minimize(reduce) Financial Losses arising through frauds, Errors, Credit losses etc.
- Ensure that the operational risk framework and operational risk policies are implemented in the country, and that all staff are aware of Operational Risk policies and procedures
- Providing the necessary guidance and training to ensure compliance with the operational risk framework and methodologies
- Measuring and evaluating the risk status subject to and using the Bank Group minimum requirements as a basis.
- Ensure that the market risk, credit risk, legal risk, compliance, operational, fraud, systemic, model, etc. risks are within acceptable limits and report same to BRCC, CCC, the Board Audit Committee, Board Risk Committee, and Regulatory bodies.
- Reviewing trends reported to ensure effectiveness and adequacy of controls and to ensure their alignment to the operational risk profiles.
- Ensure that adequate controls are in place to prevent regulatory breaches and regulatory fines.
- Ensure an effective controlled environment, which will be measured by % of satisfactory audit ratings, timely CAP closure and IBAM rate.
- Ensure that all material business areas and processes are subjected to Activity, Risk and Control Self Assessments on a periodic basis.
- Ensure operational risk environment is monitored using Key Risk Indicators and that an effective reporting and action mechanism is in place.
- Ensure that an effective Information Risk Management environment exists.
- Reporting on the status of the bank’s risk profile and risk practices (comprising operational, compliance, legal, market, credit and liquidity risk and other material risks) in a comprehensive and timely manner.
- The market & credit risk departments will support you in this deliverable.
- Act as the banks secretary and coordinator of the Board Risk Committee
- Develop effective ORM oversight over outsourced activities
- Travel within MEA and regional hubs may be required
- Participate in MEA control initiatives
- Attendance as a member of ALCO in a Market Risk manager capacity and all other governance forums
- Attendance of Risk meetings (as Operational Risk manager), where presenting and pack preparation will be required.
- Handle any other activities as assigned relating to controls and risk management.
- Familiarity with corporate and investment banking
- Strong experience in audit or operational risk
- 6 years post qualification experience in risk management within the Financial Services Industry , of which at least 4 must have been in the Banking Sector
- A thorough knowledge of multiple control environments.
- Good understanding of branch banking operations and other vital back office functions.
- Strong interpersonal skills
- Fluency in English
- Strong written and oral communication skills
- Strong analytical abilities
- Significant attention to detail
- Strategic and goal-oriented focus
- Unwavering commitment to co-operative and collaborative working
- University degree in business related areas or equivalent
- Recognized professional certification will be an advantage
- Exceptional candidates who do not meet these criteria may be considered for the role provided they have the necessary skills and experience
- The successful candidates will need to show that they are unafraid to take responsibility, partner with the business whilst retaining independence to provide challenge to the business.
- This is a key role with extremely high exposure and expectations.
- The candidate must be able to work effectively with local contemporaries and peers in other clusters and regions to maintain a collaborative culture
- Ability to develop plans to proactively address any potential Operational or Market risk weaknesses and to fix any operational weaknesses identified by the various operational risk tools.
- Ability to take decision when identifying; monitoring and measuring any risk that could negatively impact the franchise’s control environment.
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