Job Description
Job Purpose:
Reporting to the Managing Director, the Head of Risk oversees the entire process of risk management in the bank. The incumbent develops and maintains a best practice risk measurement and management framework and capability within the Bank; promotes a sound, open, and pro-active risk culture; works closely and collectively with functional units to support management in ensuring their key risks are identified, assessed, reported, and managed; and reviews risk models, developing policies, procedures, and pricing models.
Key Responsibilities include and are not limited to the following:
- Ensure that each function identifies and quantifies risks fully and consistently with the bank’s principles, practices, and regulatory standards.
- Continually improve and identify new and effective risk metrics that inform management about trends in the risk outlook for targeted and emerging areas of
- Build and lead a highly collaborative and proactive risk function that is able to navigate the increasingly complex business and regulatory environment in which the bank operates.
- Translate the market risk management framework established by the Board into specific policies, processes, and procedures that can be implemented and verified within the different business units.
- Lead and manage an effective operational risk management framework and all its components.
- Lead, manage, monitor and guide the management of operational risks, as well as audit and find issues with risk and process owners.
- Oversee and constantly review the business continuity management system as well as the disaster management plans for the bank in line with best practices.
- Lead and manage the implementation of an effective liquidity risk management framework and all of its components.
- Review and seek approval for the Asset Liability Management (ALM) policy and recommendations of ALM.
- Strategic and reputational risk management. Develop and implement plans for the infrastructure of risk management systems, processes, and staff designed to accommodate the growth objectives of the bank and associated regulatory compliance responsibilities.
Qualifications, Experience, and Skills/Competencies:
- Master’s degree in Finance and Banking, Commerce, Accounting, Economics, Banking and Investments Management, Business Administration, or a related field.
- It is also a requirement that candidates also possess a bachelor’s degree from a recognized university in the areas highlighted under Masters.
- At least 10 years of risk management experience, of which 5 should be at the senior management level
- Experience and a proven track record in a financial risk management role in a regulated financial institution
- Risk control mindset: mastery of risk disciplines at a bank-wide and integrated level, risk processes, tools, and techniques, capital management, risk-related regulations, and compliance.
- Technical knowledge: strong understanding of statistics and quantitative data analysis methods. Should have an understanding of different risk management-related IT/software applications.
- Ability to lead and exercise authority through expertise and experience, showing both a strategic and operational understanding of the business model.
Applications for the Position:
Interested applicants with the required qualifications and experience should submit their applications, along with a detailed Curriculum Vitae (CV) with the names of three traceable referees, to the Head of Human Resources and Administration, Centenary Bank, PO Box 31567, Lilongwe, or e-mail recruitment@centenarybank.co.mw.
The closing date for the receipt of applications is Tuesday, 23rd July, 2024
Only shortlisted applicants will be acknowledged.