Head, Risk Management & Control at FMDQ OTC PLC - KPMG

KPMG - Our client, FMDQ OTC PLC (FMDQ) is a Securities and Exchange Commission (SEC) licenced over-the-counter (OTC) market securities exchange and self-regulatory organisation. The company which was registered in November 2012, has a mission to empower the OTC financial markets to be innovative and credible, in support of the Nigerian economy.

FMDQ as an industry initiative is owned by the Central Bank of Nigeria (CBN), Financial Markets Dealers Association (FMDA), commercial/merchant banks and discount houses operational in Nigeria as at 2010 and the NSE Consult Limited (a subsidiary of the Nigerian Stock Exchange). FMDQ is poised to ensure high market integrity through focus on market governance and compliance, market development and data services.

In line with its vision to be the most liquid, efficient, secure anti technology-driven OTC market in Africa by 2018, the company is looking to hire individuals with deep understanding of the capital market, to drive this vision in the capacity of functional heads in the following areas:

Job Title: Head, Risk Management & Control

Ref No: TFMD003
Location: Lagos

Job Description
Reporting to the MD/CEO, the successful candidate will be responsible for examining, analysing and determining the risk and internal control status of the business as required by FMDQ’s operational policies.

Key Responsibilities
Strategic

• Develop the risk management and control requirements of FMDQ
• Develop, implement, and review an enterprise- wide risk management framework as well as continual surveillance of activities and decisions that may materially affect the risk profile of FMDQ

Operational

• Plan, design and implement an overall risk process for FMDQ and ensure the organisation’s risk management policies and strategies are in compliance with applicable SEC regulations and strategic imperatives of FMDQ
• Develop and implement risk-assessment models and methodologies
• Risk assessment, including analysing risks as well as identifying, describing and estimating the risks affecting FMDQ
• Identify key risks and mitigating factors of potential investments, such as asset types and values, legal and ownership structures, professional reputation to the business, customer bases, or industry segments
• Device systems, key risk indicators, key performance indicators and processes to monitor validity of risk modeling outputs
• Define risk assessment criteria for engaging new members as well as analyse and monitor any risk in the trading activities of existing members
• Be responsible for insurance and business continuity planning activities of FMDQ
• Identify and analyse areas of potential risk to the assets, earning capacity, or success of FMDQ
• Document and ensure communication of key risks to the appropriate Board committee
• Provide support, education and training to staff to build risk awareness culture within FMDQ
• Conduct formal reporting of Internal Control deficiencies and advice Management on approaches to remediate such deficiencies and other related control
• Identify, design and test internal controls to mirror compliance with regulatory and internal policy requirements

Qualifications and Experience

• First degree in any discipline
• Postgraduate degree or professional qualification will be desirable
• Ten (10) to twelve (12) years’ prior enterprise risk management, operational risk, audit or corporate governance experience at a fairly senior level in the financial services sector is required
• Knowledge of financial instruments and markets is key

Competency and Skills Requirement

• Proactive and self-motivated with excellent communication, facilitation and influencing skills
• Ability to anticipate issues, identity solutions and provide clear guidance to Board and Management to enable it meet its corporate governance obligations
• Sound business ethics and willingness to take an unpopular stand

Application Closing Date
17th July, 2014

Method of Application
Interested and qualified candidates should send their CV’s to: [email protected] with the relevant job title and code stated in the subject line of the email.

Each application must include:

• A cover letter detailing the applicant’s position of interest and detailed contact information
• Applicant’s updated curriculum vitae
• Copies of relevant credentials and certificates

All applications will be treated in confidence. Only shortlisted candidates will be contacted.