Country Risk Officer-Oman

9 hours ago

Muscat, Muscat, Oman Mashreq Full time

Job Purpose:

Manage the overall Risk Management function of the bank addressing Credit, Market, Operational, Legal & Reputational risks and all other material risks. Devise and implement a risk management structure, compliant with central bank regulations, Mashreq requirements and international best practices. Focal point of coordination for ESG related matters for the Oman branch, facilitating central ESG team for associated regulatory submissions and disclosures.

Key Result Areas:

Risk Management Framework

  • Develop and execute on the Branch's overall risk management policy and strategy.
  • Establish risk committee for Oman branch. In coordination/collaboration with the relevant stakeholders, ensure the Branch formalizes its Climate Risk Management framework to comply with relevant regulatory requirements.
  • Formulate appropriate self-assessments and risk controls in order to monitor and mitigate material operational, market, financial and sustainability risks arising from its wholesale banking activities.
  • Establish formal governance over Branch's risk management programs/initiatives, ensuring stakeholders involvement as appropriate (Country MANCO, IBG Governance Committee, etc).

Wholesale Credit Risk

  • Quality of assigned loan portfolio, as measured by % of classified outstanding and hence loan loss provisions, Volume of assigned portfolio.
  • Implementation of appropriate risk reporting to the Country Head, Manco and senior management.
  • Early detection of warning signals to ensure timely corrective action, and hence minimize loan losses.
  • Develop, document and review deals, structures, credit products/services and provide business solutions which meet business and customer requirements within credit and operational risk guidelines and policies.
  • Be vigilant about changing credit risk environment/profiles of countries/regions in general and customers/relationships in particular by developing, setting up and ensuring ongoing and periodic monitoring and reviews.
  • Developing and spreading a credit culture throughout the Bank's RMs.
  • Provide expertise and solutions to RMs and ARMs in developing deal/transaction structure, and advising on handling problem accounts.
  • Review credit policies and procedures on a periodical basis, and recommend changes where appropriate.

Operational Risk

  • Primary responsibility to monitor and measure OR and support identification and control of OR for the group.
  • Define policies regarding management responsibilities, control standards and accountabilities that ensure the stability and surety of all transaction processing.
  • Facilitate branch wide risk assessments and monitor priority risks accordingly.
  • Reporting requirements to CBO and communication on incidents including fraud related cases/enquiries from the relevant government department.

Market Risk

  • Establish the Market Risk function for the Bank in line with HO & Local Regulatory requirements.
  • Establish market risk measurement systems, in line with HO & Local Regulatory requirements.
  • Monitor Market Risk on an ongoing basis.

Compliance with Regulatory requirements and Group Internal Policies

  • Remain updated on relevant regulations and guidelines; and assess its applicability to the Branch's activities.
  • Ensure Branch's Risk Management policies, procedures and processes are compliant with relevant regulatory guidelines as well as internal group requirements. Periodic gap analysis must be performed so that any gaps/deficiencies are identified and addressed.
  • Provide necessary guidance, information and support to Country MLRO in the context of completing regulatory assessments and reports related to Risk Management.
  • Engage with auditors during regulatory examinations and internal audits.

Risk Controls and Assessments

  • Identify, assess and document relevant risks and controls in a comprehensive risk register.
  • Perform periodic Risk Control Self Assessments, scenario analysis and stress testing to evaluate effectiveness of controls and impact to the branch in worst-case scenarios.
  • Independent review and assessment of the effectiveness of Country Business Continuity Plans, Recovery Plans etc.
  • Monitor key risks diligently and initiate appropriate action to contain those risks.
  • Perform periodic independent reviews over Country Treasury and Business lines, ensuring strict adherence to applicable risk tolerance limits (i.e. Investment Limits, FX Limits, Cross Border Limits, etc.).

Administrative Functions

  • Member of Branch ALCO, establish and chair the Branch Risk Committee.
  • Country SPOC (Single Point of Contact) for all Risk Management projects and initiatives.

Knowledge, Skills, & Experience:

  • Minimum 10 years' working experience in a similar capacity, preferably for an established financial institution.
  • Display an in-depth understanding of Oman and international banking sector regulations as it relates to risk management practices.
  • Effective communicator, able to straddle cultures and diverse business situations.
  • Effective stakeholder management, able to lead and implement change in a complex organizational setting.
  • Ability to conduct gap analysis, validate stress tests, formulate policies and operating procedures with relative ease.
  • Fluency in English with strong report writing and presentation skills.
  • Expert level quantitative and financial techniques/skills.
  • Team player and participation experience in variety of banking initiatives and solutions. Proven decision making track record under pressing conditions.
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