Senior Risk Management Specialist

IDB3420 - Senior Risk Management Specialist

Business Unit: President Complex Division: Not Applicable Department: Risk Management Department Country: Saudi Arabia Location: Saudi Arabia - Jeddah Job Grade: E3 Closing Date: 19-Jan-2025

Job Purpose

Oversee the Bank activities including investment, treasury and project operations financing portfolios to identify gaps and provide a macro view of the financial, compliance, and risk status of the overall Bank’s portfolio. This is achieved through:

1. Effective monitoring and reporting process in close coordination with the relevant stakeholders,
2. Robust internal control practices for proper fiduciary and risk oversight,
3. Smooth, streamlined and well-designed processes to proactively manage risks including quality assurance, systems and tools, monitoring & data, and proper reconciliation with the Bank’s financials.

The incumbent shall possess proven analytical skills and sound understanding of Risk Management, Compliance and Internal Control best practices to play a key oversight role on the Bank’s Investments, Treasury and Projects Financing Operations to ensure data completeness and accuracy for timely production of the financial statements, proper assets safeguarding, compliance while contributing to maintaining high standards of client service as a Multilateral Development Bank.

Responsibilities

1. Lead the establishment of an effective Bank-wide Valuation Policy on assets and security collaterals in line with the best business practices.
2. Lead the independent valuation function on OCR and other funds.
3. Lead the data reconciliation process on a monthly basis and produce the valuation and impairment report in close coordination with the relevant internal stakeholders (Financial Control, Investment, IT) and the Custodians.
4. Establish a monthly summary report to provide evidence of regular monitoring of security and collateral valuations and the Loan to Value (LTV) ratio.
5. Establish a monthly comprehensive performance risk return report on the Bank investment portfolios including an assessment of adherence to the applicable Investment Policies Statement.
6. Design and implement control activities to ensure that Pre-Trade and Post Trade Investment Compliance checks are performed on non-Treasury Investments.
7. Lead the execution and preparation of the report on IFRS-9 Expected Credit Loss models for quarterly reporting and analytics.
8. Prepare a report on a monthly basis to provide evidence of proper maintenance and custody of risk management master data.
9. Coordinate with custodians’ counterparts to maintain Bank-wide Investment Portfolio data.
10. Provide technical guidance and review the work delivered by lesser experienced team members.
11. Monitor the effective implementation and adherence to respective risk management policies, procedures and controls.
12. Keep abreast of the latest developments, regulations and leading practices in the field and propose necessary actions.
13. Propose and implement process improvements to increase efficiency, effectiveness and compliance of the related operations.
14. Contribute to preparation of work plans and financial budget for the operational risk function.

Academic and Professional Qualifications

1. Bachelor's degree in Economics / Finance / Risk Management / Mathematics / Business Administration or related discipline.
2. Certifications like CIA/CFA/PRM/FRM/CQF would be preferred.
3. Minimum 8 years of relevant experience in Risk Management Function, of which at least 3 years in Investment oversight, Market Risk, Control, Monitoring and Reporting, preferably in a Multilateral Development Bank or a Multinational Bank.

Skills & Necessary Knowledge

1. Risk Assessment skills
2. Asset Valuation Techniques
3. Risk Reporting
4. Financial Modeling
5. Portfolio Management
6. Governance, Risk and Control
7. Islamic Finance (a plus)
8. Analytical Thinking
9. Problem Solving
10. Attention to Detail
11. Stakeholder Management
12. IT literate (MS Office, Programming, SAP, Power BI, Bloomberg, Reuter, Misys/ FusionInvest, etc.)
13. Sound understanding of Accounting principles (IFRS)
14. Ability to read and understand financial statements
15. Financial Modeling, Data Reconciliation/ Validation
16. Strategic Asset Allocation, Capital Market, Market Risks

If you meet the criteria and you are enthusiastic about the role, we would welcome your application. To complete the application you would need the following document(s):

1. Resume/CV
2. Passport-size photograph
3. Academic Certificate
4. Copy of Passport