Job Summary: The Chief Risk Officer (CRO) is responsible for the development and implementation of the risk management framework within the bank. This role involves identifying, assessing, and mitigating risks to ensure the bank’s financial stability and compliance with regulatory requirements. The CRO will work closely with senior management and the board of directors to align risk management strategies with the bank’s overall objectives.
Key Responsibilities:
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Risk Management Framework:
- Develop and implement a comprehensive risk management framework.
- Ensure the framework aligns with regulatory requirements and industry best practices.
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Risk Identification and Assessment:
- Identify and assess potential risks across all areas of the bank’s operations.
- Conduct regular risk assessments and stress testing.
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Risk Mitigation:
- Develop and implement risk mitigation strategies.
- Monitor the effectiveness of risk mitigation measures and adjust as necessary.
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Regulatory Compliance:
- Ensure compliance with all relevant regulatory requirements.
- Liaise with regulatory bodies and ensure timely reporting.
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Risk Reporting:
- Prepare and present regular risk reports to senior management and the board of directors.
- Provide insights and recommendations based on risk assessments.
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Team Leadership:
- Lead and manage the risk management team.
- Provide training and development opportunities for team members.
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Collaboration:
- Work closely with other departments to ensure a cohesive approach to risk management.
- Foster a risk-aware culture within the bank.
Qualifications:
- Bachelor’s degree in Finance, Business Administration, or a related field (Master’s degree preferred).
- Professional certifications such as FRM (Financial Risk Manager) or PRM (Professional Risk Manager) are highly desirable.
- Minimum of 10 years of experience in risk management within the banking sector.
- Strong knowledge of regulatory requirements and risk management best practices.
- Excellent analytical, problem-solving, and decision-making skills.
- Strong leadership and team management abilities.
- Excellent communication and interpersonal skills.