Senior Risk Management Specialist

Full time at IsDB Group in Saudi Arabia

Posted on January 24, 2025

Job details

IDB3420 - Senior Risk Management Specialist Business Unit : President Complex Division : Not Applicable Department : Risk Management Department Country : Saudi Arabia Location : Saudi Arabia - Jeddah Job Grade : E3 Closing Date : 19-Jan-2025 Job Purpose Oversee the Bank activities including investment, treasury and project operations financing portfolios to identify gaps and provide a macro view of the financial, compliance, and risk status of the overall Bank’s portfolio. This is achieved through:

Effective monitoring and reporting process in close coordination with the relevant stakeholders.
Robust internal control practices for proper fiduciary and risk oversight.
Smooth, streamlined and well-designed processes to proactively manage risks including quality assurance, systems and tools, monitoring & data, and proper reconciliation with the Bank’s financials.

The incumbent shall possess proven analytical skills and sound understanding of Risk Management, Compliance, and Internal Control best practices to play a key oversight role on the Bank’s Investments, Treasury and Projects Financing Operations to ensure data completeness and accuracy for timely production of the financial statements, proper assets safeguarding, compliance while contributing to maintaining high standards of client service as a Multilateral Development Bank. Corporate Middle Office (CMO)

Lead the establishment of an effective Bank-wide Valuation Policy on assets and security collaterals in line with the best business practices.
Lead the independent valuation function on OCR and other funds.
Lead the data reconciliation process on a monthly basis and produce the valuation and impairment report in close coordination with the relevant internal stakeholders (Financial Control, Investment, IT) and the Custodians (related to investment portfolios under EFM, i.e., External Fund Managers) for input in the Bank financial statements.
Establish a monthly summary report in close coordination with the team to provide evidence of regular monitoring of security and collateral/guarantees valuations and the Loan to Value (LTV) ratio on a periodic basis.
Establish a monthly comprehensive performance risk return report on the Bank investment portfolios (Equity, Managed Accounts under EFM, PE, etc.) including an assessment of the adherence to the applicable prevailing Investment Policies Statement.
Design and implement in close coordination with the relevant stakeholders the control activity to ensure that Pre-Trade and Post Trade Investment Compliance checks are performed on non-Treasury Investments.
Lead the execution and preparation of the report on IFRS-9 Expected Credit Loss models for quarterly reporting and analytics and provide assistance to Financial Control Department for impairment and provisioning calculations for all financing and investment assets.
Prepare a report on a monthly basis in close coordination with the team to provide evidence of proper maintenance and custody of risk management master data and ensure unique identification for each obligor across all relevant systems.
Coordinate with custodians’ counterparts (EFM investments custody) to maintain Bank-wide Investment Portfolio data managed/administered by the Investment Department.

Operational Excellence & Knowledge Share

Provides technical guidance and reviews the work delivered by lesser experienced team members.
Monitors the effective implementation and adherence to respective risk management policies, procedures, and controls so that all relevant procedural/legislative requirements are fulfilled.
Keeps abreast of the latest developments, regulations, and leading practices in the field and proposes any necessary actions.
Proposes and implements process improvements to increase efficiency, effectiveness, and compliance of the related operations.
Contributes to preparation of work plans and financial budget for the operational risk function and monitors actual expenditure against the approved budget.

Academic and Professional Qualifications

Bachelor's degree in Economics/Finance/Risk Management/Mathematics/Business Administration or related discipline.
Certifications like CIA/CFA/PRM/FRM/CQF would be preferred.
Minimum 8 years of relevant experience in Risk Management Function, of which at least 3 years in Investment oversight, Market Risk, Control, Monitoring and Reporting, preferably in a Multilateral Development Bank or a Multinational Bank.

Skills & Necessary Knowledge

Risk Assessment skills
Asset Valuation Techniques
Risk Reporting
Financial Modeling
Portfolio Management
Governance, Risk, and Control
Islamic Finance (a plus)
Analytical Thinking
Problem Solving
Attention to Detail
Stakeholder Management
IT literate (MS Office, Programming, SAP, Power BI, Bloomberg, Reuter, Misys/FusionInvest, etc.)
Sound understanding of Accounting principles (IFRS)
Ability to read and understand financial statements
Financial Modeling, Data Reconciliation/Validation
Strategic Asset Allocation, Capital Market, Market Risks

If you meet the criteria and you are enthusiastic about the role, we would welcome your application. To complete the application, you would need the following document(s):

Resume/CV
Passport-size photograph
Academic Certificate
Copy of Passport

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IsDB Group

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Senior Risk Management Specialist

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