IDB2833 - Lead Risk Management Specialist (Market & ALM)

Business Unit: President Complex
Division: Credit Risk
Department: Risk Management Department
Country: Saudi Arabia
Location: Saudi Arabia - Jeddah
Closing date: 07-Jul-2022

JOB PURPOSE::

Lead the formulation and quantification of Market Risk and Liquidity Risk part of the Risk Appetite Framework and develop a high-level Asset and Liability Management Framework, to ensure that all emerging and evolving risks which may impact the Bank’s external credit rating are identified. The role leads the provision of a second line of defense in the implementation of policies, guidelines, models, methodologies and systems, stress testing, new products and investment proposal and valuation from the perspective of market, liquidity and profit rate risk. The role also provides expert level support to other functions in related matters and provides technical guidance to lesser experienced team members.

KEY ACCOUNTABILITIES::

Market Risk Management:

  • Contribute from the Market Risk perspective to the development of overall Risk Appetite Framework in line with the industry best practices and IsDB requirements.
  • Oversee the development of a high-level Asset-Liability Management Framework which establishes the broad strategic principles for the management of balance-sheet risks and sets the broad risk parameters to guide the Finance complex in developing the related ALM and liquidity financial policies.
  • Review reports and analyses prepared by Finance Complex on the potential exposures to market and liquidity risks due to existing and proposed borrowings and provides independent expert opinion.
  • Undertake independent periodic high-level oversight monitoring and procedural compliance on profit-rate, currency and other market risks inherent in the financing, investing, funding and hedging operations of the bank with the approved guidelines, especially relating to liquidity and ALM and highlight deviations with recommendations to achieve compliance.
  • Assist in the development and review of the financial policies and guidelines developed by the Financial Complex relating to Market and ALM Risk, Investment portfolios’ SAA and Treasury’s procedures and processes for the bank’s borrowings, investments and cash management, and provide feedback where submitted documents are non-compliance with approved governance or risk frameworks.
  • Review submitted proposals for tradeable investments (including equity participation) and Sukuks for procedural compliance and appropriate setting of risk rating, maximum exposure limits, security package and other mitigates in accordance Bank-approved methodologies and guidelines.
  • Review stress tests and scenario analyses on investment, funding and derivatives portfolios performed by Finance Complex and provide independent opinion to the management.
  • Review the outputs of stress tests conducted by other departments on the liquidity and funding risk of the Bank.
  • Review risk measurement models in use and periodically provide independent view on the validity of these models.
  • Review and assess the Portfolio Valuations, Performance Benchmarking and Attribution.

Operational Excellence:

  • Ensure effective implementation and adherence to respective risk management policies, procedures and controls so that all relevant procedural / regulatory requirements are fulfilled.
  • Keep abreast of the latest developments, regulations and best practices in the field and proposes any necessary actions.
  • Propose and implement process improvements to increase efficiency, effectiveness and compliance of the related operations.
  • Prepare work plans and budget for the market risk function and monitors actual expenditure against the approved budget.

People Management:

  • Provide motivational and inspirational leadership to the team members and communicates clear performance expectations.
  • Coach, mentor, develop and provide regular feedback to the team members on the results at a section level, promptly addressing areas of improvement.
  • Support filling in key capability gaps of the team through capacity development and recruiting efforts.
  • Act as a role model to communicate to the section staff IsDB's values and leadership.

EDUCATION, CERTIFICATION & EXPERIENCE::

Academic and professional qualifications:

  • Bachelor’s degree in Economics / Finance / Risk Management / Mathematics / Business Administration or related discipline.
  • Professional certifications like CFA/PRM/FRM/CQF or equivalent is preferred.
  • Minimum 10 years of relevant experience in the risk management function, with at least 4 years in Market and Liquidity Risk preferably in a Multilateral Development Bank. Minimum 3 years in managerial/supervisory role.

Languages:

English: Mandatory 

Arabic: Preferred 

French: Preferred

Skills & Necessary Knowledge:

  • Risk Assessment skills
  • Operations and Market Risk and ALM Evaluation
  • Familiarity with ALM, Market and Liquidity Risk Models & Methodologies
  • Asset Valuation Techniques
  • Familiarity with External Rating Methodologies
  • Governance, Risk and control
  • Islamic Finance
  • Stress Testing
  • Analytical Thinking
  • Problem Solving
  • Attention to detail
  • Stakeholder Management
  • People management
  • MS Office skills.