Head of Risk and Credit Support

Bank ABC seeks to recruit a Head of Risk and Credit Support in the Bank ABC Islamic Division based in our Head Office, in Bahrain.

The Head of Risk and Credit Support will be responsible for the below:

• The governance, oversight, development and management of:
  • A strong, independent but commercially aware Risk Management function covering all classes of risk affecting the bank including, credit risk, market risk, operational risk, regulatory risk, conduct risk and reputational risk.
  • Preserving high standards of risk assessment and appraisal, and manage controlled development of the Subsidiary’s risk portfolio in line with the Risk Strategy set by the Board and ABC Group policies.
  • Maintaining a proactive and professional approach to risk management and developing an enterprise-wide risk management culture across the bank to embed risk awareness, the three lines of defense model and procedural integrity.

In coordination with the Head Office Credit and Risk functions, this is a second line of defense role.

Responsibilities of the role:

Reporting to the ABC Islamic Managing Director, ABC Islamic Board Risk Committee & Bank ABC Group Chief Credit & Risk Officer, the job holder will be required to:

• Discusses credit proposals with RMs and suggest ways to mitigate risks.
• Assesses the risks of new and existing relationships and provide crisp recommendations to the MD and Credit Committee (CC).
• Ensures timely and accurate risk reporting to Head Office, BRC and the CBB.
• Ensures implementation of regular monitoring and compliance with covenants, approval conditions and credit administration issues.
• Be the point of contact with the auditors for risk-related matters.
• Acts to resolve issues raised by Audit pertaining to the risk function within the Bank.
• Liaises with Head Office Risk for implementation of new risk systems in the Bank.
• Attends to changes in regulatory requirements.
• Ensures regular, efficient and comprehensive risk forum meetings are conducted within the Bank.
• Act as Secretary to the Board Risk Committee of the Bank and answer queries raised by members of the Committee. Fully responsible for conducting all BRC meetings including preparing BRC packs, minutes etc, on time.  
• Ensures that Bank ABC Islamic banking governance, policies and procedures are aligned with both Group guidance and local regulatory requirements and that they are kept up-to-date, effectively communicated and understood by all employees, and that adherence is tested and confirmed on regular basis.
• Ensures that Bank ABC Islamic risk appetite is set in line with Group guidance, Board direction and local regulatory requirements and that the risk appetite drives the strategy adopted by the Bank.
• Communicates the key elements of Group risk management framework to all employees including the first and second lines of defense, advises on how the framework is to be applied in relation to all types of risks and oversees testing of the employees’ adherence to and understanding of the framework. This will build a culture of risk awareness so that potential risk issues, actual incidents and loss events are proactively identified, mitigated (where possible) and reported in a timely and transparent manner.

Key proponent of enterprise risk management, and thereby:

• Drives the identification, quantification, governance and management/mitigation of risks incurred by the business
• Advises line of business leaders and senior leadership on the evolution of the different risks incurred by the businesses
• Coordinates the activities of Group risk disciplines [e.g. operational risk, wholesale credit risk] in support of the wholesale bank
• Acting as a conduit between global risk management and local risk management
• Providing a focal point for issues escalation, both globally [functional] and locally [entity]
• Managing other pertinent risks viz. market risk and operational risk etc. through effective risk management/credit risk policies, processes and strong end to end debt management model covering origination, assessment/approval, limit settings, disbursements/monitoring, post lending/monitoring control and mitigation. Work with all appropriate members of management team to control strategic, credit, market, liquidity, operational and compliance-related (regulatory) risks.
• Confirms the appropriateness of limits frameworks and related controls.
• Act independently from the 1st line of defense to identify and escalate issues and concerns to recommend amendments to policies, procedures, practices, etc. or the cessation of activities, businesses which lie outside of risk appetite.
• Tracks and oversees investigations and remediation of limit/cap excesses, focusing on root cause analysis and sharing across the group key learnings.
• Drives improvements in the quality of risk management information presented to local and Group Committees to strengthen decision-making: while emphasizing timeliness of submissions and continuous improvement.
• On a timely basis, advise Group leadership on the risk management performance of material risk takers within the Bank.
• Ensures no high risk issues are raised by auditors/CBB that should have been escalated as per Group policy. Ensures compliance with Group-wide Control Standards.
• Builds credit awareness & three lines of defense risk culture within risk & business staff in the Bank.
• Evaluates credit risk (financial, transactional and other) relating to new Corporate and FI business proposals and to make specific recommendations to the Head Office Credit Committee (and Board if necessary) through succinct presentations so that the bank can pursue good quality loans and other risk assets. Embed the principle of good practice established by the group through the CCT training programme.
• Works with the Business to agree on business framework for expansion into country/sector etc. Promotes good communication between business and credit administration function.
• Evaluates country risk (economic /political) using all available sources
• Manage the risk management function in support of the wholesale banking – e.g. regulatory compliance, operational risk, wholesale credit analysis.
• Proactively seek to remain up to date on the most innovative thinking, trends and changes that impact our industry and business through industry associations, conferences and other external sources of information in order to be a thought leader within the Bank; and encourages and ensures that team members actively engage in developing knowledge and skills; and in cross fertilization of ideas to benefit the Bank.
• Work in close co-operation with Group Credit to ensure consistency in credit approach.
• Liaise and work with external regulators and external auditors.
• Liaise and work with internal and external Legal advisors.
• Resolve audit issues relating to risk and credit in a timely manner.
• Promote a culture of risk control and compliance within the Bank and lead by example.
• Undertake portfolio studies of credit risks within a unit, industry or economic sector, in order to evaluate risk on a portfolio basis, and recommend actions if any for management’s review and control of business concentrations.   
• Review impaired asset report prior to submission to HO.
• Review and prepare risk reports for presentation and discussion in BRC meetings.
• Liaise and lead the annual review process of the external rating of the Bank.
• Participate in consultations issued by the CBB, relating to risk, and provide timely responses.
• Provide credit and risk support to the Global Head of Islamic Banking

Areas of Knowledge, Qualification and Experience

• More than 15 years in banking, majority of which in risk areas
• Master degree in Business Administration/Finance or other related disciplines
• Professional risk qualification
• Deep understanding of credit and risk fundamentals
• Deep Understanding of the Group’s risk culture
• Awareness of Corporate Governance
• Knowledge of CBB Rulebook, in particular credit and risk modules
• Familiar with AAOIFI standards
• Knowledge of Islamic banking products