Head Market Risk

ProvidusBank is an innovative financial institution that provides personal, private, corporate, commercial, and digital banking products and solutions. Our tailored financial services delivery includes Business Advisory, Portfolio Management, Personalised Relationship Management, Fast-tracked Service delivery and Self-service solutions.

We support our staff to achieve their objectives. We believe that we are making progress when our customers, colleagues, and community progress. Our Core Values of Integrity & Excellence are fundamental to how we interact with our stakeholders and colleagues, and we genuinely believe in these.

We believe that we provide an opportunity for a rewarding career and are looking for people who believe they can contribute positively towards our goal.

JOB TITLE:  Head Market Risk

REPORTING LINE: Chief Risk Officer

JOB OBJECTIVE:       

To protect the bank from the incidence and implications of market risk issues on business performance by ensuring the existence of a functional framework with a transparent, consistent, and comprehensive process for developing, embedding, and managing market risk bank wide.

ROLES & RESPONSIBILITIES:

• Formulates and implements approved market risk management strategies, policies, and standards for identifying, monitoring, and mitigating risks associated financial issues, liquidity, currency exchange exposures, foreign exchange transaction, interest rates, price movements etc.
• Conducts periodic review of business and market trends, as well as financial/fiscal policies to potential areas of risk exposure for the bank and provides advise to line management/process owners on risk mitigation strategies and action plans, within the bank’s risk appetite
• Scans the business environment to monitor and keep abreast of industry threats, trends, and issues to ensure that the Bank’s risk management frameworks are adequate to mitigate the impact of market risks on business performance
• Develops and implements the market and liquidity risk and IRR control environment around Global Markets, Treasury businesses and investment portfolio in line with the strategy and policy provisions of the bank, as well as regulatory guidelines
• Liaises and coordinates with line managers and executive management of the bank in conducting market risk identification and assessment with focus on tracking and monitoring market risk issues across the business value chain
• Establishes, maintains, and updates a comprehensive bank-wide market risk infrastructure for asset-liability management, trading, (FX derivatives etc.) and hedging of the Bank’s loan portfolio etc.
• Reviews and engages with line management of related business units to appropriately escalate market risk-related matters in a timely manner to Senior Management, the relevant governance committees, and the Bank’s Chief Risk Officer
• Collaborates with the business unit managers to maintain ongoing enhancement / refinement of Key Risk and Key Performance Indicators covering the market and financial key risk domains as contained in the Market Risk Management framework to ensure currency and relevance in addressing recurring and emerging market risks
• Monitors and reviews to ensure that the Market risk management rules and standards are applied consistently across the bank’s business lines in line with corporate business strategy and banking requirements
• Evaluates requirements and ensure that the bank secures/provides the resources necessary for the execution and maintenance of an effective market risk management infrastructure
• Liaises with Business and Control function(s) to understand and continuously monitor the current market risk profile of the bank, gauge adherence to policies and standards, as well as raise awareness of and initiate new mitigating action plans for dealing with evolving business realities and emerging market risk
• Conducts periodic deep dive market risk assessments and gap analyses and documents findings as reference for tracking remediation plans on material risk events and issues to ensure control gaps are closed
• Establishes, communicates and reinforces policies related to the market risks, as well as setting market limits and allocations for business units consistent with the bank’s risk appetite.
• Prepares and submits periodic reports on market risk issues and improvement solutions for senior management consideration and decisions
• Provides regular updates on market conditions and trends, and their implications to the bank’s business operations, to the Executive Committee and Legal Entity Board of Directors.

KNOWLEDGE REQUIRED

• Banking assets & liabilities management (BALM)
• Knowledge of Internal Audit, Internal control, and compliance
• Knowledge and application of financials, and financial ratios in risk management
• Risk assessment and reporting
• Product development

SKILLS REQUIRED

• Attention to detail
• Analysis & critical thinking
• Decision making
• People Leadership
• Communication (Verbal, non-verbal and written – includes presentation preparation and delivery)

QUALIFICATION

Minimum of bachelor’s degree in finance, accounting, business Administration, Economics, Management, or related field. An MBA or its equivalence is an added advantage.

Professional certification in risk management (i.e., CFA, FRM, CRM etc.) is desired

EXPERIENCE

Minimum of 8+ years of consistent experience in risk management in the financial sector, of which at least 3 years must have been at functional leadership responsibility for market risk management

Interested in this role? Click Apply to submit your application.