KEY ACCOUNTABILITIES & ACTIVITIES
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Key Accountabilities
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Key Activities
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Strategy development and business planning
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- Lead the formulation, development and implementation of the Risk Management Department strategy in support of ICD’s goals and in response to emerging trends or client/customer needs
- Develop, implement and monitor the 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 Risk Management Department to increase its impact, encouraging Department members to fully contribute
- Establish ’s strategic risk management approach in capital adequacy, asset-liability management (ALM), credit exposure and operational processes and aligns to ’s overall strategy
- Provide inputs and recommendations to the management on appropriate risk strategy and governance of ICD 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
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Risk Policies, framework, Processes and Procedures
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- Define and manage the 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
- Formulate an integrated risk management framework for ICD as an organization covering all types of risks i.e. credit, operational and market risk. This will include advising the top management and Board on ICD's risk tolerance/appetite on an annual basis
- Guide the development of Risk Processes, Models, Templates, decision making frameworks etc. in order to embed riskmanagement into the investment process and support implementation
- Monitor the adherence to procedures, methodologies, approach and systems used in risk management throughout ICD and takes corrective action as necessary
- Stimulate subordinates and contributes to the identification of opportunities for continuous improvement of systems, processes and practices taking into account leading practices, improvement of business processes, cost reduction and productivity improvement
- Oversee communication of the policies to all Departments and ensure that the policy is cascaded down through internal audit reports
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Budget
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- Oversee Risk Department budgeting cycle and lead the budgeting process in conjunction with organizational budget
- Ensure effective utilization of Risk Department budget, and report accurately on progress made and challenges encountered
- Investigate and propose implementing strategies that result in positive financial impact for ICD and mitigates financial and operational risks
- Direct Risk Department effectively within budget, track expenses and ensuring adherence, and report accurately on progress made and challenges encountered,
- Prepare, submit and justify budget enhancement requests to the CEO
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Operational Management
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- Manage the Risk Management Cycle by carrying out risk identification, risk measurement, risk monitoring & reporting functions and risk evaluation of all activities of ICD in order to ensure compliance with overall lending/investment policies
- Supervise analysis of ICD’s asset portfolio and providing reports to the senior management and the Board of Directors highlighting the trends and areas of concern in order to recommend a risk strategy and enable the top management and the Board to take appropriate measures, if required
- Organize the scrutiny of every financing/investment proposal that comes to the Risk Management team and authorizing credit facilities to investee companies based on analyses conducted
- Provide vital strategic and risk-based decision support to ICD senior management and employees in the products and deals teams across the corporation.
- Establish and maintain the end-to-end credit administration process- Ensuring that adequate documentation is in place before fund disbursal, taking regular updates on the monitoring of individual assets and initiating Facility Reviews as required.
- Define the asset classification criteria for non-performing and distressed assets, and working closely with the products teams to ensure that NPAs are kept at a minimum.
- Supervise the Remedial & Collateral Management Analyst in monitoring collateral at a portfolio level, and sharing findings with ICD management as required. Using these insights to review risk management policies and procedures.
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Credit Risk
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- Oversee the risk assessment of all new banking transactions in line with the credit approval process and risk management policies
- Providing advice and recommendations on new transactions particularly in respect of risk mitigation measures, transaction structuring, pricing, terms and conditions, and financial covenants
- Ensuring appropriate pricing of new transactions based on risk rating, capital requirement, and portfolio and market considerations
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Credit Admin
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- Ensure credit discipline through sound credit administration process- which includes reviewing documentation, disbursements, repayments, compliance, collateral management, record management and reporting
- Oversee the monitoring of existing exposures and timely completion of annual reviews in coordination with business departments
- Oversee the review and endorsements of request for waiver and amendments of terms and conditions in the financing agreements
- Oversee collection activities, including preparation and issuance of repayment notice and reminder and monitoring of repayment receipts. Detect early warning signs of delinquency and inform business departments for remedial action to minimize losses.
- Oversee the review of financing documents prepared by the legal division to ensure compliance with the ExCom/ IC approval’s terms and conditions as well as ICD's policies.
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Market Risk & Compliance
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- Identify, measure, mitigate and report counterparty and market risks in treasury operations as well as ALM risk in the entire ICDs balance sheet.
- Coordinate compliance related activities within ICD with the assistance of the group compliance officer.
- Develop and maintain policies, reporting and analytical tools for treasury market and counterparty risk management.
- Review, and implement the market risk policies, guidelines, and methodologies in-line with best business practices
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Monitoring & reporting
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- Keep abreast of developments in the internal and external business environment, economic and political situations and submits management reports on potential risk factors/ exposures, trends and changes that may impact the business and making appropriate recommendations for strategic management of the changes and introduction of best practices affecting risks
- Monitor all activities related to risk identification and assessment of the various stakeholders involved in the financing and investment operations
- 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 Management to have a comprehensive understanding of risk positions, market conditions, and the impact of new initiatives
- Submit periodic risk reports to Management highlighting performance against risk parameters and overall risk positions
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Advisory
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- Provide the highest level of advice and recommendations to 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 is able to fully meet its operational commitments
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Stakeholder Relationship management
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- Develop and maintain effective internal and external relationships through individual contacts and meetings
- Represent the 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
- Share risk information with all business managers to build risk management knowledge and enable them to use this knowledge to benefit their business decisions
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Performance
& people management
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- Participate in the identification and recruitment of key talent for Risk Management department
- Provide motivational and inspirational leadership for the Risk Management Department, and communicates to Division Managers clear performance expectations
- Manage the performance and resources of the 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 ICD’s values and leadership competencies; provides direction and support in times of change
- Promote a high-performance working environment and promote ICD's values
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