Head of Financial Risk – ()
Description
Equity Bank is one of the region’s leading banks whose purpose is to transform the lives and livelihoods of the people of Africa socially and economically by availing them modern and inclusive financial services that maximize their opportunities. With a strong footprint in Kenya, Uganda, Tanzania, Rwanda, South Sudan and DRC Congo, Equity Bank is now home to over 12 million customers – the largest customer base in Africa. Currently the Bank is seeking additional talent to serve in the role of Head of Financial Risk.
Job Purpose:
The role of the Head of Financial Risk is to oversee and manage the financial risk management function within the bank. He/ She will help to identify, assess, and manage various financial risks that may impact on the bank’s financial stability and performance. The Head of Financial Risk is responsible for developing risk management strategies, implementing risk frameworks, and ensuring compliance with regulatory requirements.
Key Responsibilities
- Risk Management Strategy: Develop and implement the overall financial risk management strategy aligned with the organization’s goals and risk appetite. Identify and assess financial risks, such as credit risk, liquidity risk, market risk, and develop appropriate risk mitigation strategies.
- Risk Framework and Policies: Establish and maintain a robust risk management framework and policies that align with industry best practices and regulatory requirements. Ensure the framework is effectively communicated and implemented throughout the bank.
- Regularly review and update risk policies to reflect changing business and regulatory environments.
- Risk Identification and Assessment: Identify, assess, and monitor financial risks across Equity Bank Kenya Limited (EBKL). Conduct risk assessments to evaluate the potential impact and likelihood of risks materializing. Implement risk measurement techniques, such as stress testing, scenario analysis, and sensitivity analysis, to quantify risks and inform risk management decisions.
- Risk Reporting: Prepare and present regular risk reports to senior management and the board of directors. Communicate key risk metrics, trends, and emerging risks. Provide recommendations for risk mitigation strategies and necessary actions to ensure effective risk management.
- Regulatory Compliance: Stay up-to-updated on relevant regulatory requirements and ensure EBKL’s compliance with risk management regulations. Monitor regulatory changes and assess their impact on the bank’s risk profile. Coordinate with compliance teams to ensure timely implementation of risk-related regulatory changes.
- Stakeholder Engagement: Collaborate with internal stakeholders, including senior management, business units, risk functions, and compliance teams, to gather necessary information and ensure effective risk management.
- Engage with external stakeholders, such as auditors, regulators, and industry associations, to stay informed about best practices and industry trends.
- Financial Risk Committee and Governance: Participate in existing risk governance structures. Provide leadership and guidance to risk committees, ensuring effective risk oversight and decision-making. Collaborate with other governance functions, such as Audit or Compliance, to ensure a coordinated approach to risk management.
Qualifications
Qualifications And Experience
- Bachelor’s degree in finance, economics, risk management, or a related field. Advanced degrees or professional certifications (such as FRM or PRM) are preferred.
- Extensive experience in financial risk management, risk analysis, or related roles within a financial institution or corporate environment. Previous experience in a leadership or management role is required.
- In-depth knowledge of financial risk management principles, practices, and regulatory requirements.
- Strong understanding of various financial risks, including credit risk, liquidity risk, & market risk.
Key Competencies & Skills
- Excellent analytical and problem-solving skills with the ability to interpret complex financial data and draw meaningful insights.
- Strong written and verbal communication skills to effectively present risk assessments and recommendations to senior management and the board of directors.
- Leadership skills with the ability to drive change, influence stakeholders, and foster a risk-aware culture.
- Strong organizational and project management skills, with the ability to manage multiple priorities and deadlines.
- Proficiency in using financial software, risk management tools, and data analytics platforms.
- Knowledge of regulatory frameworks and standards, such as Basel III or Solvency II, is beneficial.
