Lead Principal - Treasury and Operational Risk (ICD)

Employer
ICD
Location
Jeddah, Saudi Arabia
Salary
See description
Posted
Jul 14, 2021
Closes
Jul 27, 2021
Ref
11477590
Job Function
Risk Management
Industry Sector
Finance - General
Employment Type
Full Time
Education
Bachelors
Key Functional Accountabilities and Activities

Monitoring:

• Identify, monitor and report market and counterparty risk exposures arising from treasury liquidity management and funding operations.
• Monitor market developments and provide market risk alerts to Treasury Department and ICD Management.
• Support in assessing, monitoring, and reporting ICD's ALM, liquidity, and capital adequacy positions and compliance with Board approved policies.
• Forecast potential and/or actual risks due to inadequate or failed internal processes, people or systems or external events/breakdowns and guides others in implementation of mitigation actions in a timely manner.
• Provide support and guidance to other ICD functions on operational risk matters, whilst validating key risk indicators and assessing operational risk incidents
• Monitor changes of counterparties' credit ratings to undertake credit researches and analyses, review requests for new counterparty and limit.
• Lead the development and implementation of a risk monitoring programme, identifying, assessing, monitoring and reporting all material treasury and Operational risks associated.

Advisory:

• Provide support and guidance to other ICD functions on treasury and operational risk matters, whilst validating key risk indicators and assessing operational risk incidents.
• Suggest/recommend the development of risk related metrics and best practice to improve operational effectiveness.
Risk Assessment
• Evaluate and monitor aggregate risks in ICD's liquidity portfolios and ensure compliance with various portfolio risk limits, including single counterparty limit, country limit, average risk rating requirement, and duration limit
• Undertake Risk and Control Self-Assessments to identify the scale and sources of operational risk at the level of ICD and put in place procedures to log such events and quantify potential impacts.
• Promote the application of best practice risk analytics to measure and monitor risk exposures in treasury liquidity management and funding operations.

AML Due Diligence:

• Carry out various AML due diligence checks for all key parties.
• Review due diligence information annually for all transaction files.
• Provide advice to the business related to AML requirements.

ALM/Market/Counterparty Risk Monitoring:

• Assess all kinds of market and counterparty risk in ICD's treasury operations.
• Works towards developing implementing risk management guidelines, policies, and procedures as well as methodologies and mechanisms to conduct risk assessments.
• Analyse and recommend asset allocation strategy considering ICD's liquidity portfolio management objectives, risk appetite, and risk/return profile of different asset classes.

• Participate in the development of Asset-Liability Management Framework which establishes the strategic principles for the management of balance-sheet risks and sets the broad risk parameters for monitoring.

• Actively assess and monitor counterparty and market risks in ICD's liquidity management and funding operations to ensure compliance with Board approved Treasury Risk Management Policy and Asset & Liability Management Policy.• Monitor changes of counterparties' credit ratings to undertake credit researches and analyses, review requests for new counterparty and limit.

• Measure and report market, credit, and counterparty risk exposures and performance against objectives, policies, and benchmarks.
• Recommend the development and maintenance of risk analytics to support the measurement and monitoring of key risk exposures in liquid asset portfolio and related derivative transactions.
• Create and maintain scenario analysis and present impact on earnings, capital adequacy, and liquidity.
• Coordinate with IT support for effective reporting on risks and performance of liquidity, borrowing, and derivative portfolios.
• Conduct a review of the Bank's Asset-Liability Management (ALM) Strategy for the Bank to assess and analyse potential risks and propose mitigating measures including utilization of hedging, derivatives and Swap.
• Remain abreast of the global best practices in market risk management for the purpose of enhancing risk management function within the Bank.
• Provide professional opinion on risk issues related to market, counterparty, ALM, and liquidity risks
• Recommend new risk management tools to improve output quality and efficiency of the function.

Liquidity Risk Management:

• Monitor ICD's liquidity position and risk to ensure compliance with Board approved liquidity policy.
• Review financial projections and undertake sensitivity analysis to minimize risk and potential breach of the liquidity policy.
• Coordinate preparation of periodic ALCO and other monitoring reports.
• Review the liquidity, ALM, and treasury risk management policies and make recommendations to update.
• Ensure active and continuous risk monitoring of the liquidity management operations and prepare action plans for policy and risk limit breaches.
• Prepare liquidity reports for submission to the Management.

Operational Risk Management:

• Participate in the development and maintenance of a comprehensive framework for Operational Risk Management and ensure its implementation to identify risk of losses arising from inadequate or failed processes, people and systems and for external events.
• Undertake Risk and Control Self-Assessments to identify the scale and sources of operational risk at the level of ICD and put in place procedures to log such events and quantify potential impacts.
• Conduct operational risk modeling, monitoring and reporting and propose cost-effective mitigation measures to minimize potential losses that may arise
• Coordinate with the Information Technology Department to implement operational risk management to properly record, manage and mitigate operational risks
• Monitor the operational risk profile of ICD and report to findings in the RMD's Risk Report.
• Work with the head in the implementation of the Early Warning system in ICD, in coordination with the concerned Departments of ICD.

External Ratings:

• Engage with the head in the Technical preparation of the rating file relating to treasury, liquidity,and ALM risks, including drafting responses to rating agencies' questionnaire while ensuring completeness and reliability of data.
• Participate in rating meetings and prepare comments on draft rating reports, press releases, methodology changes and highlight issues.
• Contribute to the preparation and collation of information for the annual rating exercise by the external rating agencies.

Qualifications/ Professional Experience

• At least 8 years of experience in Treasury/Market risk-related functions.

• Bachelor's degree in Risk Management, Accounting, Finance, Business administration, or similar discipline.

• Good understanding of risk arising from financial or reputational loss or arising from internal processes, people, systems or external events.

• Professional risk management certifications - CFA/PRM/FRM/CQF or any relevant professional certifications is a must.

Language Skills
English is a must. Arabic and/or French is a plus.
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