Reports to: Head of Portfolio & Enterprise Risk Management
JOB PURPOSE / ROLE:
To lead the definition of a comprehensive and integrated risk assessment and management tools / models in accord with best fitted market practices in order to identify, measure and monitor credit, market, liquidity, operational and overarching risk exposures across the Group in order to facilitate the effective implementation of the established risk governance framework.
– Manage the effective achievement of quantitative analytics sectional objectives through setting individual objectives, managing performance, developing and motivating staff, provision of formal and informal feedback and appraisal in order to maximize subordinate and the overall performance.
– Recommend an optimum organization structure in coordination with organizational effectiveness and strategic manpower planning for the section so that resources are optimally utilized and communication can take place in an efficient manner.
Budgets and Plans
– Prepare and recommend the budget for the assigned section and monitor financial performance versus the budget so that the business is aware of anticipated costs/revenues, and areas of unsatisfactory performance are identified, rectified promptly and potential performance improvement opportunities are capitalized upon.
– Lead the development of risk management solutions, statistical tools for risk analysis and assessment such as Value at Risk (VaR) models, simulations for credit, market, ALM risk, liquidity stress scenarios etc. in order to facilitate effective assessment of risk across group’s functions.
– Conduct studies on current risk management methodologies and make recommendations on risk management system enhancements and spearhead the research and integration of new products into the existing risk management system.
– Supervise the definition of comprehensive and harmonized tools / models to identify measure and monitor credit, market, liquidity, operational and overarching risk exposures across the group in collaboration with the various functions / units and subsidiaries to facilitate effective implementation of the approved risk strategies across the group. This function is not accountable for the subsidiary-level implementation of these models.
– Supervise and monitor the development of risk models and ensure proper implementation at domestic level.
– Coordinate the validation and back-testing of these models with the risk model validation function to facilitate adherence with defined standards.
– Conduct the technical review of the risk models of Company; supervise and coordinate the periodic calibration of all risk models in accord with business requirements.
– Coordinate with business functions across the group to facilitate effective development and implementation of approved risk assessment and management tools in accord with defined quality standards.
– Develop training materials and conduct trainings to enhance awareness of the established risk management tools and methodologies to facilitate the establishment of a risk management culture across group.
– Motivate subordinates and contribute to the identification of opportunities for continuous improvement of quantitative risk analytic systems, processes and practices taking into account ‘international leading practice’, improvement of business processes, cost reduction and productivity improvement.
Quality, Health, Safety, & Environment
– Ensure compliance to all relevant quality, health, safety and environmental management procedures and controls across the quantitative analytics section to guarantee employee safety, compliance, delivery of high quality products/service and a responsible environmental attitude
|Job Location:||Al Kuwait, Kuwait|
|Company Industry:||Financial Services; Banking|
|Degree:||Bachelor’s degree / higher diploma|