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Chief Risk Officer

Job Title: Chief Risk Officer
Contract Type: Permanent
Location: Baghdad, Iraq
Industry:
REF: 1384
Contact Name: Ghusoon Nader
Job Published: 8 months ago

Job Description

MSELECT is hiring a Chief Risk Officer for a bank based in Baghdad, must have +10 years of experience in related field with fluency in English and Arabic.

Job summary

Responsible for overall direction of bank risk management function overseeing (credit risk, market risk, Information security, and operational risk), Credit Review, and Credit Control Functions. Translating the Bank Strategies into short and long-term action plans and implementing them with coordination with his/her subordinates.

CRO plays a prominent role in implementing risk management controls across all organizational departments. Chief Risk Officer use their financial expertise to create effective reporting policies and carefully monitoring for critical risks.

Responsibilities

  • Responsible for overall direction of the organization’s risk management function. In conjunction with senior management and/or a risk management committee, incumbent formulates the organization’s risk management policies.
  • Directs staff in establishing risk management procedures and standards; developing risk management analysis reports; developing approval procedures and guidelines on risk limits by type of product and/or transaction; and in establishing management and administrative procedures to ensure adherence to policies.
  • Appropriate reporting of operational risk across the organization, ensuring that Executive Management and the Board can determine the groups risk profile.
  • Providing support and guidance and supervising the review of all credit transactions through credit and financial analysis. Identifying credit risks according to the Central Bank rules and regulations and the General policy of bank for all credit facilities and ensuring their adherence to the set standards in this regard. Providing recommendations regarding weak accounts and taking the decision to endorse companies for employee’s facilities.
  • Provides independent review of significant risks of a specialized nature, for example new products/activities.
  • Manages staff in monitoring, evaluating, and reporting on risk exposures.
  • Directs staff in establishing risk management procedures and standards; developing risk management analysis reports; developing approval procedures and guidelines on risk limits by type of product and/or transaction; and in establishing management and administrative procedures to ensure adherence to policies.
  • Responsible for co-ordination of the organization’s risk management policies.
  • Provides advice to business unit managers on risk management issues. Involved in evaluation new products and trading/hedging strategies for their impact on the bank's risk profile.
  • Incumbent typically serves on (or chairs) a risk management committee with other members or senior management. Acts as the firm's liaison with external regulatory or legal bodies on risk management issues. Serves on industry committees.

Required Experience

  • Preferably Master’s Degree in Banking or Finance, Accounting, Economics, or Business Administration.
  • 10+ years of experience in Risk Management or equivalent fields
  • Knowledge in the Central Bank law, regulations and legislations
  • Knowledge in Iraqi and international market developments 
  • Knowledge in NBI & Capital Group provided products and services
  • Knowledge in credit banking policies and procedures
  • FRM, ISO Certification standards
  • Knowledge in Iraqi Market; its social and economic aspects
???????Required Skills
  • Effective leadership & management skills
  • Critical thinking and problem-solving skills to quickly stop threats of significance to the institution.
  • Demonstrate persistence and overcomes obstacles.
  • Effective communicating and interpersonal skills
  • Strategic planning & organizing skills
  • Execution Excellence - Planning, Reporting, and Analytical Skills
  • Uphold confidentiality and client privacy in all situations.
  • Proactively seeks solutions that benefit the customer and the Bank.
  • Maintaining integrity, honesty and utmost ethical standards at all times.
  • Management by Objectives (MBO)