Group Head, Risk Management at IBILE Microfinance Bank Limited

IBILE Microfinance Bank Limited is a fast-growing Microfinance Bank with designed fitting financial products to meet the diversified and dynamic economy of the micro sectors in Lagos state. The bank is managed by industry seasoned professionals with the objective to facilitate financial inclusion services, serve the Micro Small and Medium Scale industry (MSMSE) and empowered to grow and sustain the gross domestic product (GDP) of the fifth largest economy in Africa.

We are recruiting to fill the position below:

Job Title: Group Head, Risk Management

Location: Ikeja, Lagos

Job Summary

• Minimizes the Bank’s risk exposure and maximise portfolio profitability by ensuring optimal assets and liabilities mix while maintaining effective financial controls Bank-wide.
• Promotes continuity in the Bank’s operations by developing business control policies and operational guidelines thereby minimizing exposure to potential risks and impact on business performance.

Job Description

• Contributes to the development of Corporate Strategy
• Develops Risk Management Strategy in alignment with the Corporate Strategy
• Formulates Bank-wide risk management policies and ensures that the policies, controls and procedures, are effectively disseminated and complied with across the Bank.
• Risk Management Framework
• Designs a robust enterprise risk management framework for the Bank
• Identifies the internal and external risks affecting the achievement of the Bank’s objectives and develops a Bank-wide risk profile
• Assesses risks, considering the likelihood and impact as a basis for determining how they should be managed
• Understands key elements of the Bank's risk profile, establishes risk tolerance levels across organization and develops proactive mitigating and coping strategies
• Manages risk responses – avoiding, accepting, reducing, or sharing risk- by developing a set of actions to align risks with the Bank’s risk tolerances and risk appetite.
• Monitors the enterprise risk management process and make modifications as necessary
• Provides analytical support to management regarding risk metrics
• Embeds a positive culture of informed risk taking through training, communication and promotion of the agreed risk framework.
• Communicates relevant information in a form and timeframe that enables others to carry out their responsibilities.
• Drives and coordinates internal preparations and responses during relevant regulatory examinations and reviews
• Keeps abreast of relevant laws, regulations and code of good business practices and incorporates them into the risk management and governance frameworks
• Develops appropriate systems to ensure the risks associated with the Bank’s lending are clearly identified and that appropriate mitigation measures are instituted
• Develops necessary credit policies and processes and disseminates accordingly
• Liaises on a daily basis with relationship managers etc. on various credit issues
• Manages the documentation and safe-keeping of all security documents and credit files
• Coordinates/supervises bank-wide credit risk assessment and control process
• Monitors post- disbursement performance of credits to detect early warning signals and facilitate good risk assets quality
• Directs the team’s activities for Collateral Management and Loan Restructuring
• Oversees efficient administration of all debt recovery activities and works on reducing the Non-Performing Loans and Watchlist accounts
• Monitors and reports on risk limits and exposures above regulatory requirements and the Bank’s risk appetite
• Recommends Bank’s risk appetite to Executive Management. This will include portfolio limits, loss limits and other management action triggers.
• Reviews Treasury products/activities (on and off-balance sheet) for the identification of any underlying market/liquidity risk factors
• Annual and ad-hoc review of limits for Treasury proprietary trading activities, including recommendations for blacklisting defaulting counterparties where appropriate.
• Manages the bank’s asset and liability position by ensuring optimal liquidity at minimal risk
• Carries out daily, weekly, monthly and quarterly quantification of the bank’s exposure to the different sources of market risk in comparison with Management approved limits
• Manages all operational risk resulting from inadequate or failed internal processes, people and systems or from external events
• Manages strategic and reputational risks.
• Evaluates the internal and external business contexts for potential and current risks and provides insights on the appropriate response to Executive management
• Reviews workflows, process steps and existing policies and procedures to identify areas of risks and provide recommendations for mitigation
• Assists in the development of business continuity plans to limit risk and prepare for disaster recovery
• Develops and maintains an early risk alert reporting system
• Reports significant risk exposures and control issues around fraud risks, governance and other matters to the Board as needed or requested
• Provides accurate and objective business control assessment reports (issues, recommendations) to inform and guide Management on the state of compliance with relevant regulations and risk control policies
• Staff Coaching and Performance Management
• Monitors and evaluates performance of staff in Risk Management Function
• Conducts effective training to improve the capability of team members
• Provides career development support and adequate coaching to team members
• Ensures the Risk Management department and also subsequently develops initiatives to ensure continuous improvement on:
• Processes and Policies including process maps
• Reporting Framework
• Risk Management Tools and Templates
• Staffing including training, manning, coaching, utilisation, performance management etc.

Qualifications

• HND / University Degree in Banking, Accounting, Economics or other related field;
• Member of a Professional accounting body e.g. ACCA, ICAN , ANAN is an added advantage
• Minimum of 4 years work experience in similar role
• Minimum of 2 years’ in a senior management role
• Cognate experience in a state or national microfinance bank or similar financial institution
• Interfaced with regulatory bodies during examination
• Knowledge of the banking regulations and laws.
• Proficiency in Computer Applications Excel /Microsoft Office/Banking Applications such as Bank One.

Application Closing Date
20th June, 2023.