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Group Head of Financial Risk
Job Description
- The role will be the centre of excellence for Financial Risk across the OMEA Group and oversee best practices in:
- Capital Adequacy Monitoring
- Liquidity Risk Monitoring
- Market Risk Monitoring
- Financial Risk Stress Testing
- This role will be responsible for the management necessary to identify, evaluate, mitigate, and monitor the Group’s financial risk. Part of the key deliverables will be developing the financial risk management tools and practices to analyse and report on financial market risks and to manage risks according to a financial risk management framework and relevant policies.
- This role will ensure the organisation’s financial risk management policies, limits, and strategies follow applicable regulations, rating agency standards, and strategic imperatives of the organisation.
- Oversee or monitor all financial risk management activities of the OMEA Group.
- Assist in the planning and implementation of the Liquidity, Counterparty risk and Market risk policies, framework, and internal controls, and ensuring its compliance by the different Business units.
- Participating in preparation of reports for the different Executive management and Board committees.
- Leading and managing projects related to the Group’s market risk, credit, and liquidity framework.
- Assisting in the liquidity, and market risk quantification under the Internal Capital Management process.
- Overseeing the daily capturing, monitoring, controlling, and reporting of the Group’s market and liquidity risks and ensuring these are reported accurately.
- Ensuring detailed understanding of all P&L and risk drivers and ensuring compliance levels against established risk appetite.
- Suggesting, developing, and implementing measures leading to a better risk management framework and improvement of internal controls.
- Ensuring adequate limits (VaR, sensitivities, stress) and risk framework are in place aligning with the Group’s overall risk appetite.
- Work closely with the key stakeholders to ensure key risk issues are highlighted and addressed prior to introduction of new products where applicable.
- Recommending market risk limits in line with the approved market risk appetite of the Group
- Preparing monthly market risk reports for the Investments Committee & EXCO
- Preparing quarterly reports for the respective Board Risk Committee meetings
- Development of comprehensive stress tests scenarios covering key market, credit and liquidity risks and ensuring periodic stress test are done in line with regulatory and internal requirements and for management decision purposes.
- Communication of key risks to senior management and the Board, including creation of presentations articulating key risks in an easy-to-understand manner.
MINIMUM QUALIFICATIONS/EXPERIENCE (REQUIRED FOR THE JOB)
- Bachelor’s degree in finance, business administration or related field
- Accreditation / Certification in financial risk management or actuarial certification is required.
- 8+ years’ experience in risk management, 2-3 years should be in a managerial role.
- Financial risk management experience in the financial services sector required and experience in an insurance group would be an added advantage.