Chief Risk Officer - Banking

Chief Risk Officer, Banking

Our client is a Bank with presence in Wholesale as well as Retail Banking. We are looking for a Chief Risk Officer for the Bank who will report to MD & CEO / Risk Management Committee of the Board. Incumbent shoud be less than 55 years of age and the Job Specifications are as below :

Roles and Responsibilities:

1. The Chief Risk Officer shall:

- Be responsible for the effectiveness of overall risk management throughout the Bank and its group entities.

- Establish and maintain group-wide risk management frameworks, policies and exposure limits that are approved by the Board & Risk Management Committee of the Board.

- Supervise the activities, review and approve the recommendations of Risk Management departments before submitting to respective Risk Management Committees.

- Measure, control and manage various risks on a group-wide basis within the limits set by the Board.

- Ensure compliance with the risk parameters and prudential limits fixed by the Board of Directors.

- Create awareness on risks and related risk management activities.

- Facilitate the analysis of group risk and inter-relationship of risks across Parent Bank and group entities.

2. Primary responsibility for overseeing the development and implementation of the Bank's Risk Management function. This includes the ongoing strengthening of staff skills and Roles & Responsibilities enhancements to risk management systems, policies, processes, quantitative models and reports as necessary to ensure that the Bank's Risk Management capabilities are sufficiently robust and effective to fully support its strategic objectives and all of its risk-taking activities.

3. To develop risk culture and risk framework based on risk appetite for the Bank

4. Ensure regulatory compliant risk governance including effectiveness and compliance with the Bank's policies and evaluate the effectiveness of controls designed to address risks.

5. Ensuring a system-wide view and understanding of the combined risks of the business and their inter-relationships (Credit, market, interest rate, liquidity, operational, reputational, regulatory and Enterprise risks)

6. Establishing an early warning or trigger system for breaches of the Bank's risk appetite or limits; influencing and, when necessary, challenging material risk decisions.

7. To guide and address the credit risk management by ensuring consistent and uniform credit rating analysis in rating credit appraisals.

8. To execute and ensure effective operational risk management by adhering to compliance with BASEL norms and regulatory reporting; guiding the team for computation of CRAR and regulatory capital requirement management of ICAAP.

9. To guide and direct the market risk management team on monitoring of entire market portfolio, interest rate risk, equity price risk, risk capital analysis, monitoring derivatives in respect of foreign currencies, country wise limits, counterparty Bank limits, stress testing, etc.

10. Managing and overseeing of IT security risk in the Bank by monitoring and reporting of events analysis, advise / take steps to mitigate the risk and strengthen the IT infrastructure of the Bank.

11. To oversee and constantly review Business Continuity Management System as also Disaster Management Plans for the Bank, in line with the best practices.

12. Responsible for compiling, assessing and reporting accurate information to the top management and the Board.

13. To be associated with credit sanction process as one of the decision makers.

14. Responsible for supporting the Board in its engagement with and oversight of the development of the Bank's risk appetite and Risk Appetite Statement (RAS) and for translating the risk appetite into risk limits structure.

15. The CRO, together with Management, should be actively engaged in monitoring performance, relative to risk-taking and risk limit adherence.

16. Managing and participating in key decision-making processes (eg., strategic planning, capital and liquidity planning, new products and services, compensation design and operations).

17. Should have the ability to interpret and articulate risk in a clear and understandable manner and to effectively engage the Board and Management in constructive dialogue on key risk issues. Interaction between the CRO and the Board and/or Risk Committee should occur regularly, and the CRO should have the ability to meet with the Board or Risk Management Committee without Executive Directors being present.

18. Any other work entrusted from time to time by the Bank.

Educational qualifications:

Mandatory: Graduation/Post Graduation in any discipline from a recognized University (recognized / approved by Govt., Govt. bodies / AICTE) with

(a) Professional Certification in Financial Risk Management from Global Association of Risk Professionals (GARP), OR

(b) Professional Risk Management Certification from PRMIA Institute, OR

(c) Candidate should have been a Chief Risk Officer /Head of Risk Management Department of the Bank/Financial Institution for at least 2 years

Desirable:

a) Holder of Chartered Financial Analyst charter awarded by CFA Institute, OR

b) Designated as Chartered Accountant by the Institute of Chartered Accountants of India, or equivalent abroad, OR

c) Designated as a Cost and Management Accountant by the Institute of Cost Accountants of India, or equivalent abroad.

Work Experience:

Mandatory experience: Minimum 20 years of experience in Banking/Financial Sector of which at least Seven years' experience in corporate credit and risk management in Private Sector Banks / Foreign Banks or having similar roles and responsibilities in one or more regulated lending entity.

Desirable experience: Deep understanding of market risk and/or liquidity management and Credit Risk.

Exposure to dealing with regulators.

Monika