Risk Management Specialist

2 weeks ago

Jeddah, Makkah Province, Saudi Arabia Islamic Development Bank Full time

Business Unit: President Complex

Division: Not Applicable

Job Purpose: Job Purpose: The role contributes to the quantitative portfolio risk assessment function for the Risk Management Department by quantifying the Bank risk appetite metrics, measuring and monitoring the Bank risk profile in order to safeguard IsDB interests. The role also entails providing the required analytical support in the development of enterprise-wide quantitative risk measurement models, methodologies, and techniques and the formulation of portfolio risk management framework and guidelines. Key Accountabilities:

Portfolio Risk Management and Reporting:

  • Collect necessary information and support in the preparation of Bank-wide Risk Reports on periodic basis covering risk governance, assessment of credit, market and operational risks, and other relevant reports especially analysis, recommendations, and write-up.
  • Contribute to the formulation of Bank-wide risk appetite framework (RAF) and development of Target Market and Risk Acceptance Criteria (TM/RAC).
  • Support in the review, update and maintenance of the Bank-wide Exposure Management Framework covering financing operations, treasury and investment activities.
  • Provide quantitative analytic support in the formulation of risk frameworks, policies, and guidelines.
  • Support in the implementation of Enterprise Risk Management (ERM) system, tools and framework.
  • Provide quantitative analytic support and modelling for the development, review, update, and maintenance of risk models and parameters such as IFRS 9 Expected Credit Loss (ECL) models, Probability of Default (PD), LossGiven-Default (LGD), Exposure-at-Default (EAD), correlations, etc.
  • Assist in development, review, and maintenance of IFRS 9 Expected Credit Loss (ECL) methodologies and models and determining the level of impairment and provisions based on IFRS9 for the Bank-wide portfolio.
  • Undertake detailed review and assessment of the risk profile of sovereign and non-sovereign operations financing portfolio, including asset credit quality and concentration levels, to ensure that risk profile is within the established limits.
  • Collaborate with the IMDT for the development of information systems that produce reports required for its independent risk reporting to President and BED Committees.
  • Assist in the coordination efforts with concerned Departments on all matters relating to ratings of IsDB or instruments for IsDB and along with other Divisions of Risk Management Department including sukuk issuances and providing risk management input for annual reports.
  • Support in the process of Bank's external rating assessments including preparation and collation of the rating file for each external rating agency.
  • Prepare portfolio data for internal and external processing, e.g., submission to credit data pooling consortium of MDBs and International FIs on a periodic basis.

Operational Excellence:

  • Provide technical guidance and review the work delivered by lesser experienced team members.
  • Monitor the effective implementation and adherence to respective risk management policies, procedures and controls so that all relevant procedural / legislative requirements are fulfilled.
  • Keep abreast of the latest developments, regulations and leading practices in the field and propose any necessary actions.
  • Contribute in proposing and implementing process improvements to increase efficiency, effectiveness and compliance of the related operations.
Education, Experience & Certification:

Academic and professional qualifications:

  • Bachelor's degree in Economics / Finance / Risk Management / Mathematics / Business Administration or related discipline. Master's Degree or equivalent is preferred.
  • Professional certifications like CFA/PRM/FRM/CQF or equivalent is preferred.
  • Minimum 5 years of relevant experience in the quantitative modelling, risk management and related fields.
Skills & Necessary Knowledge:
  • Advanced knowledge of Statistical Analysis, Programming Language such as Python / R / SQL, Financial Modeling and Reporting
  • Advanced knowledge of financial risk management and compliance
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