Head of Risk Management – Garowe, Puntland, Somalia

Job Title: Head of Risk Management

Location: Amal HQ-Garowe

Reporting to: Chief Executive Officer

Deadline: 19/04/2022

Position Summary

Head of Risk Management is responsible for Market Risk, Financial Risk and Operational Risk matters of the Bank by ensuring that both risks inherent to the Bank’s activity and risks related to the environment in which the Bank operates are identified, measured, controlled, monitored and reported in an efficient, accurate, timely and cost-effective manner.

Major Duties:

• Follow the comprehensive risk management policies and processes that effectively identifies, measures, monitors and controls risks exposures of the bank to ensure the execution of and compliance to overall risk management policies and guidelines in terms of:
  • Liquidity Management
• Capital Adequacy
• Credit Risk
• Market Risk
• Operational Risk
• Develop and maintain the framework and methodology to identify, assess, control, monitor and report Market, Financial and Operational Risk.
• Monitor, measure and report such exposures to key stakeholders for periodic realignment weekly/monthly/quarterly/annually or on ad-hoc basis
• Develop and monitor Key Risk Indicators (KRIs) to determine elevations in risk and proactively implement risk mitigation measures
• Identify emerging risks that present new risks associated with new regulatory, products and services, customer types, geographies, and channels
• Coordinate the collection of risk information from key sources and departments, and analyze the data before applying to various key risk areas to update the Bank’s risk profile
• Track the progress of remediation of control weaknesses and control gaps identified by Internal Audit, self-testing, or controls assessment
• Review and analyze regulatory reports and internal reports and establish an early warning or trigger system for breaches of the bank’s risk appetite or limits
• Continuously monitor the risk-taking activities and risk exposures to ensure they are in line with the board-approved risk appetite and risk limits

• Keep pace with changes to the bank’s risk profile and maintain an updated risk register
• Building risk awareness amongst staff by providing support and training within the company on an on-going basis
• Support effective credit and legal administration function by monitoring the Bank’s credit/legal documentations and due diligence process
• Analyze risk exposures related to existing and proposed transactions and issue appropriate recommendations to support business informed decisions
• Conduct scheduled or ad-hoc stress tests or scenario analysis, forecasting to proactively minimize Bank’s risk exposure

Required Qualifications:

• Master’s degree in Finance or Economics
• Good understanding of financial and operational risk techniques and the use of risk quantitative techniques
• Ability to analyze risk exposures related to existing and proposed transactions
• A proven ability to conduct research, data analysis and mathematical modelling
• Ability to effectively apply statistical concepts to analysis
• Good knowledge of and experience in depositary banking or fund administration
• Ability to understand all of the Bank’s activities and how they must integrate to achieve the organization’s strategic goals.
• Applied knowledge of Islamic financial products and services from simple current account to more complex project finance.
• Must be willing to travel to various bank and client locations outside and within Somalia on short notice
• High ethical standards and an uncompromising sense of integrity with strong attention to details
• Excellent written and verbal communication skills

How to apply:

• Interested and qualified candidates should send their applications and updated CV to Applicant@amalbankso.so, clearly indicating the role applied for on the subject bar not later than the date indicated above.

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