Summary:
The Risk Officer (RO) function within Rural is an independent pro-active senior risk management role within the second line of responsibility with the aim to facilitate, monitor, challenge and support the business in realising its strategic ambition to grow the Rural portfolio, including delegated approval authority.
The RO operates within a robust risk framework and culture where the business takes first line responsibility. The RO challenges the first line of responsibility and engages with Second / Third line on a timely and proactive basis to achieve and maintain a high quality portfolio, by reducing credit and operational losses, ensuring that risks (financial & non-financial) are properly identified and addressed and that trends are recognized and acted upon. The Risk Officer engages with the business at a transaction level providing initial risk input and ultimately deciding upon within his/her approval authority / providing risk recommendation to approving authorities on submissions. At a portfolio level, the RO provides reviews, reports on and challenges the business on portfolio trends, risk culture, concentration risks, sectors and market developments to ensure that Red Flags are identified and acted upon.
The RO WRR operates in a local context and supports the local CRO (hierarchically) in ensuring the effective independent second line Risk Management. Senior Risk Officers require a low level of management supervisory.
Main Activities:
1) Identify Risk - Responsible for second line transactional engagement with the business from origination to final approval, ensuring that risks are properly identified, clients and transactions fit the risk appetite as laid down in the various risk appetite statements within Rural.
2) Risk Assessment - Forms independently an opinion on the acceptability of the risk, in terms of credit, structure, legal, tax, commercial and non-financial risk aspects. Ensures high quality of the proposal prepared by the 1 Lo R, well substantiated and timely to facilitate an effective approval and decision process.
3) Approve / Opine on Risk - Decides upon proposals under his/her approval authority or otherwise makes recommendations to approving bodies.
4) Manage Risk - Responsible for second line portfolio risk management via active engagement with the business and relevant Second line and Third line departments. Assess the portfolio on trends, concentration risks, volatility and consequence thereof, taking pro-active actions where needed.
5) Monitor and Review - Contributes to management reporting and ERM reporting. Analyze and learn lessons from events, changes, trends, successes and failures. Detect changes in the internal and external contexts, including changes to risk criteria and the risk itself which can require revision of risk treatments and priorities (Risk Appetite Statement, Policies and Procedures). Identify emerging risks.
6) Network - Builds, maintains and extends a network with the first line. Engages within other Risk Departments and Risk Officers to ensure quality of decision taking, portfolio management and adequate engagement with 1st line business and other stakeholders. Develops and maintains relationship with the relevant second and third line departments (e.g. Legal, Tax, Compliance, IT Ops, Operational Risk, Audit).
7) Training - responsible for Risk awareness trainings to the 1st Line teams and dissemination of the Risk Culture within the 1 Lo R.
Requirements:
Bachelors or Masters degree in business, Economics, Accounting or related areas.
English Fluent.
Solid experience in Credit Analysis and substantial experience in Risk Management, Credit analysis/ Portfolio Management concepts.
Skills: Customer Focus, Result Focus, Cooperation, Initiative, Decisiveness, Independent and challenging, Accountable, Credit and banking knowledge,
Product/market knowledge.
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