Risk Management Specialist-Oman

3 days ago

Muscat, Muscat, Oman Mashreq Full time

Job Summary:

Mashreq is seeking a seasoned Country Risk Officer to oversee the overall Risk Management function of our Oman branch. This role will be responsible for addressing various risks, including Credit, Market, Operational, Legal & Reputational risks, and ensuring compliance with central bank regulations and international best practices.

Main Responsibilities:

  • Develop and execute on the Branch's overall risk management policy and strategy
  • Establish risk committee for Oman branch in coordination/collaboration with relevant stakeholders
  • Formulate appropriate self-assessments and risk controls to monitor and mitigate material operational, market, financial and sustainability risks
  • Establish formal governance over Branch's risk management programs/initiatives, ensuring stakeholders involvement as appropriate

Risk Management:

  • 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 meets 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 monitors 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

Regulatory Compliance:

  • 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
  • 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

Skills and Qualifications:

  • 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

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