AVP- Risk Oversight
Job Description
<p><strong>Generic Accountability<br><br></strong></p><ul><li>Act in consonance with the Group’s vision and mission to facilitate the organizational objectives of growing stronger</li><li>Ensure the achievement of the bank’s business plans by optimizing risk adjusted performance of Global Markets</li><li>Provide an assurance to the GCRO through the Head of Market and Liquidity Risk that all material market risks pertaining to Global Markets have been identified & monitored and mitigation strategies put in place wherever required.</li></ul><p><strong>Job Specific Accountabilities<br><br></strong></p><ul><li>Assist the head of market risk oversight in implementing the Market Risk Appetite Framework ensuring a robust oversight and monitoring mechanism is in place.</li><li>Ensure correct monitoring and reporting of all market risks is done on a daily basis.</li><li>Ensure that all risk reports are reviewed, validated and analysed before and after dissemination to stakeholders</li><li>Ensure the business operates within the approved market risk limits</li><li>Perform stress testing in accordance with internal policies / regulatory guidelines.</li><li>Ownership of projects pertaining to market risk oversight and control.</li><li>Assist market risk management in preparing the risk packs to senior risk committees</li><li>Work closely with several teams to achieve the role objective</li></ul><p>o Middle office and Risk Control – for daily validation of market and static data, collateral, risk reports etc.<br><br></p><p>o Market Risk Analytics team for risk methodologies, market data etc.<br><br></p><p>o Group Finance: Product control – active liaising to ensure the correct reflection of risk adjusted returns and accounting is aligned to risk practices<br><br></p><ul><li>Carry out process improvements using Murex as the key systems enabler.</li></ul><p><strong>FRAMEWORKS, BOUNDARIES, & DECISION-MAKINGAUTHORITY:<br><br></strong></p><ul><li>Functions within the framework and boundaries of Group policies as well as overall organizational and governance frameworks.</li><li>Policies and Framework</li></ul><p>o Group Market Risk and its associated policies<br><br></p><p>o Risk Appetite Statement<br><br></p><p>o Approved Product List<br><br></p><p>o Any other document / policy / processes related to Market Risk Management<br><br></p><ul><li>Governance</li></ul><p>o Investment Management Committee<br><br></p><p>o Valuation Committee<br><br></p><p>o CBUAE guidelines<br><br></p><p>Authorized to take decisions as per the approved authorization matrix.<br><br></p><ul><li>Governance</li></ul><p>o Investment Management Committee<br><br></p><p>o Valuation Committee<br><br></p><p>o CBUAE guidelines<br><br></p><ul><li>Authorized to take decisions as per the approved authorization matrix.<br><br></li></ul><strong>Qualifications<br><br></strong><p><strong>Minimum Qualification<br><br></strong></p><ul><li>Bachelor’s degree in Finance or Economics.</li><li>Professional certification like FRM or CFA would be an added advantage</li></ul><p><strong>Minimum Experience<br><br></strong></p><ul><li>5 years’ relevant experience in the banking sector with at least 2/3 years in similar positions in the Market Risk or Treasury function.</li></ul><p><strong>Other essential requirements<br><br></strong></p><ul><li>Experience of having extensively worked on Murex platform for market risk management.</li><li>Knowledge of financial markets and multiple assets classes (Fx, fixed income, equities, commodities)</li><li>Ability to work accurately under pressure to tight deadlines.</li><li>Strong inter-personal skills in order to interact confidently with senior management<br><br></li></ul><strong>Additional Information<br><br></strong><p>The purpose of the job is to provide comprehensive market risk oversight and control of Global Markets function on a near real time basis in compliance with Bank Policies, regulatory guidelines and financial market environment<br><br></p>
