AVP, Risk Oversight (UAE NATIONAL ONLY)

Job Description

The purpose of the job is to provide comprehensive market risk oversight and control of Global Markets function on a near real time basis in compliance with Bank Policies, regulatory guidelines and financial market environment

Generic Accountability

• Act in consonance with the Group's vision and mission to facilitate the organizational objectives of growing stronger
• Ensure the achievement of the bank's business plans by optimizing risk adjusted performance of Global Markets
• Provide an assurance to the GCRO through the Head of Market and Liquidity Risk that all material market risks pertaining to Global Markets have been identified & monitored and mitigation strategies put in place wherever required.

Job Specific Accountabilities

• Assist the head of market risk oversight in implementing the Market Risk Appetite Framework ensuring a robust oversight and monitoring mechanism is in place.
• Ensure correct monitoring and reporting of all market risks is done on a daily basis.
• Ensure that all risk reports are reviewed, validated and analysed before and after dissemination to stakeholders
• Ensure the business operates within the approved market risk limits
• Perform stress testing in accordance with internal policies / regulatory guidelines.
• Ownership of projects pertaining to market risk oversight and control.
• Assist market risk management in preparing the risk packs to senior risk committees
• Work closely with several teams to achieve the role objective

o Middle office and Risk Control - for daily validation of market and static data, collateral, risk reports etc.

o Market Risk Analytics team for risk methodologies, market data etc.

o Group Finance: Product control - active liaising to ensure the correct reflection of risk adjusted returns and accounting is aligned to risk practices

• Carry out process improvements using Murex as the key systems enabler.

FRAMEWORKS, BOUNDARIES, & DECISION MAKING AUTHORITY:

• Functions within the framework and boundaries of Group policies as well as overall organisational and governance frameworks.
• Policies and Framework

o Group Market Risk and its associated policies

o Risk Appetite Statement

o Approved Product List

o Any other document / policy / processes related to Market Risk Management

• Governance

o Investment Management Committee

o Valuation Committee

o CBUAE guidelines

• Authorised to take decisions as per the approved authorisation matrix.

Qualifications

Minimum Qualification

• Bachelor's degree in Finance or Economics.
• Professional certification like FRM or CFA would be an added advantage

Minimum Experience

• 5 years' relevant experience in the banking sector with at least 2/3 years in similar positions in the Market Risk or Treasury function.

Other essential requirements

• Experience of having extensively worked on Murex platform for market risk management.
• Knowledge of financial markets and multiple assets classes (Fx, fixed income, equities, commodities)
• Ability to work accurately under pressure to tight deadlines.
• Strong inter-personal skills in order to interact confidently with senior management