We are recruiting to fill the position below:
Job Title: Head, Risk Management
Location: Ikoyi, Lagos State
Employment Type: Full-time
Work Mode: Hybrid
Job Summary
- The role provides independent oversight of credit, operational, market, liquidity, information security, compliance, fraud, and strategic risks.
- Working closely with Executive Management, the Board Risk Committee, Internal Audit, and Regulatory Authorities, the Head of Risk Management will ensure effective risk governance, strengthen internal controls, and promote a strong risk-aware culture across the Bank.
Key Responsibilities
Enterprise Risk Management (ERM):
- Develop, implement, and continuously improve the Bank's Enterprise Risk
- Management Framework in line with CBN guidelines and international best practices.
- Establish and periodically review the Bank's Risk Appetite Statement, Risk Policies, and Risk Management Framework.
- Coordinate enterprise-wide risk assessments across all business units and functions.
- Ensure risks are identified, assessed, monitored, mitigated, and reported effectively.
- Promote a strong risk management culture throughout the organization.
Credit Risk Management:
- Provide independent oversight of the Bank's credit portfolio.
- Review credit proposals, risk ratings, and lending decisions to ensure alignment with
- approved credit policies.
- Monitor portfolio quality, non-performing loans (NPLs), concentration risks, and
- provisioning requirements.
- Recommend strategies for minimizing credit losses and improving portfolio performance.
- Conduct periodic portfolio stress testing and scenario analysis.
Operational Risk Management:
- Develop operational risk management policies, tools, and methodologies.
- Identify operational risks across all business units and recommend appropriate mitigation measures.
- Monitor operational loss events, key risk indicators (KRIs), and control effectiveness.
- Lead Risk and Control Self-Assessments (RCSA) across departments.
- Oversee incident reporting and root cause analysis.
Market & Liquidity Risk:
- Monitor exposure to interest rate, foreign exchange, and liquidity risks.
- Support Asset and Liability Management (ALM) activities.
- Evaluate market trends and assess their potential impact on the Bank's financial position.
- Conduct stress testing and sensitivity analysis to support strategic decision-making.
Regulatory Compliance & Governance:
- Ensure compliance with CBN Risk Management Framework, Prudential Guidelines,
- Corporate Governance Guidelines, NDIC requirements, and other applicable regulations.
- Prepare regulatory risk reports and submissions.
- Coordinate regulatory examinations relating to risk management.
- Provide risk advisory support to Executive Management and the Board Risk Committee.
- Monitor emerging regulatory developments and recommend appropriate actions.
Fraud Risk Management:
- Develop and implement fraud risk prevention and detection strategies.
- Monitor fraud trends, investigate emerging risks, and recommend control
- enhancements.
- Collaborate with Internal Audit, Compliance, Operations, and Information Technology
- to strengthen fraud prevention measures.
- Conduct fraud risk assessments across products, processes, and digital channels.
Information Security & Technology Risk:
- Assess technology, cybersecurity, and information security risks.
- Collaborate with the Information Technology and Information Security teams to
- strengthen cybersecurity controls.
- Monitor technology-related risks associated with digital banking platforms, payment
- systems, APIs, and cloud infrastructure.
- Support Business Continuity Management (BCM) and Disaster Recovery (DR) initiatives.
Risk Monitoring & Reporting:
- Develop Key Risk Indicators (KRIs), risk dashboards, and management information reports.
- Prepare monthly, quarterly, and annual risk reports for Executive Management and the Board.
- Monitor risk trends and emerging threats affecting the Bank.
- Present actionable recommendations to improve the Bank's risk profile.
Internal Control & Audit Support:
- Collaborate with Internal Audit to strengthen internal control systems.
- Monitor remediation of audit findings and regulatory observations.
- Track implementation of corrective actions arising from risk reviews and examinations.
Leadership & Stakeholder Management:
- Lead and mentor the Risk Management team.
- Foster a proactive risk culture across the organization through awareness initiativesand training.
- Work closely with Business Units, Compliance, Finance, Operations, Technology, and Executive Management on enterprise risk initiatives.
- Maintain productive relationships with regulators, external auditors, and otherstakeholders.
Qualifications
- Bachelor's Degree in Finance, Accounting, Economics, Banking, Statistics, Actuarial Science, Business Administration, or a related discipline.
- A Master's Degree in Risk Management, Finance, Business Administration (MBA), or a related field is an added advantage.
Experience:
- 8–12 years of progressive experience in Risk Management within Banking, Financial Services, Fintech, or another regulated industry.
- At least 4 years in a senior leadership or managerial role.
- Strong experience across Enterprise Risk Management, Credit Risk, Operational
- Risk, Market Risk, Liquidity Risk, Fraud Risk, and Regulatory Compliance.
- Demonstrated experience interacting with regulators, external auditors, and Board Committees.
- Sound understanding of CBN Prudential Guidelines, Basel Risk Management Principles, and Corporate Governance requirements.
Core Competencies:
- Enterprise Risk Management
- Credit Risk Analysis
- Operational Risk Management
- Market & Liquidity Risk
- Fraud Risk Management
- Regulatory Compliance
- Corporate Governance
- Internal Controls
- Business Continuity Planning
- Risk Analytics & Reporting
- Strategic Thinking
- Data Analysis & Decision-Making
- Stakeholder Management
- Leadership & Team Development
- Communication & Presentation Skills
- Problem Solving & Critical Thinking.