SVP & Head of Group Market Risk Management

Join the UAE’s largest bank and one of the world’s largest and safest financial institutions. Our focus is to create value for our employees, customers, shareholders and communities to grow through differentiation, agility and innovation.

We are looking for top talent and your success is our success. Accelerate your growth as you help us reach our goals and advance your career. Be ready to make your mark a top company, in an exciting and dynamic industry.

To provide comprehensive market risk oversight and control of the Global Markets (GM) function on a near real time basis and in compliance with bank Policies, regulatory guidelines and financial market environment in order to ensure GM and the bank operate within agreed risk appetite and are not exposed to unacceptable losses, in compliance with internal and external policies, guidelines and regulations.

Key Accountabilities include;

Strategic Contribution

• Ensure effective cascading of the functional strategy into department business plans to ensure vertical alignment and horizontal integration with other interfacing departmental strategies.

People Management

• Manage the effective achievement of assigned objectives through the leadership of the Group Market Risk Management department by setting of individual objectives, managing performance, developing and motivating staff to maximise departmental performance.
• Lead the talent development initiatives for the assigned department, collaborating with technical/discipline experts and thereby ensure the availability of talent to fit business requirements.
• Act as a role model and drive adherence to organisational values and ethics by employees of the assigned department to foster a value driven culture within the Group.

 Budgeting and Financial Planning

• Manage the preparation of the departmental budget and monitor financial performance versus the budget while ensuring all departmental activities are conducted in line with the approved guidelines.

Policies, Systems, Processes & Procedures

• Manage and ensure effective implementation of Market and Liquidity Risk functional policies, procedures and controls covering all areas of assigned department activity so that all relevant procedural/legislative requirements, fulfilled while delivering a quality, cost-effective service.

Risk Management Framework – Oversight and Control

• Develop and implement the risk management framework / process comprising an end-to-end oversight and control mechanism of risks and their interactions to ensure it meets the bank’s requirements in effectively identifying, measuring, monitoring, reporting and managing risks as per defined risk appetite and strategy. 
• Liaison with Global Markets to ensure an ongoing effective service delivery as per requirements and within timelines, ensuring improvement to support the execution of the bank’s investment and trading strategies whilst protecting its capital and adhering to internal and external policies, procedures and regulatory requirements. 

• Manage the establishment and application of the risk appetite framework (includes metrics and limits) for Global Markets in conjunction with stakeholders from relevantfunctions to ensure setting the appropriate levels and types of risk-taking across for meeting the agreed upon objectives.
• Perform stress testing in accordance with internal policies / regulatory guidelines in order to evaluate potential effects of extreme market events and extreme movements in individual risk factors on the risk profile and financial standing, and thus to enable the management of these market risks at an overall portfolio level and/or for certain portfolios and risk types.
• Oversee monitoring and reporting of all market risks on a daily basis, to ensure compliance with the bank’s risk appetite and the escalation of accurate, timely and relevant information to all concerned stakeholders to enable effective decision-making.
• Oversee counterparty credit risks in order to ensure that the bank is safeguarded from default risks on derivative transactions. 
• Provide ad-hoc reports on market risks and stress testing as necessary and required to ensure transparency on the risk profile, facilitate the understanding of market risk drivers across all levels of the bank, and enable decision-making at multiple fronts. 

Data and Collateral Management

• Manage and control market & static data, coordinating with the relevant functions, and developing plans to address gaps, to ensure availability and relevance of data.
• Oversee and coordinate the development of data extraction and processing queries to provide required data in a timely and accurate manner.
• Provide data support and automation assistance to the risk management departments to facilitate effective implementation of risk management procedures.
• Oversee Collateral Management for both CSA and GMRA, ensuring adherence to international regulations and protection of the bank’s interest.

Compliance Checks

• Conduct compliance checks to ensure trades are in conformance with established policies and guidelines.
• Lead the implementation of OTC Clearing & EMIR / Dodd Frank regulations to ensure organisational compliance to regulatory requirements.
• Provides guidelines and assistance to treasury front office and back office in the implementation and maintenance of risk management systems, ensuring adherence to all relevant policies, standards, and practices.
• Act as an active stakeholder for all on-going integration activities to ensure seamless Market Risk Management operations.
• Direct and oversee projects pertaining to market risk oversight and control to ensure projects are delivered within specified budgets, times frames, quality, scope and resource parameters.

Continuous Improvement

• Lead the identification of opportunities for continuous improvement and sustainability of systems, processes and practices considering global standards, productivity improvement and cost reduction.

Reporting

• Ensure that all department reports are prepared timely and accurately and meet Group requirements, policies and quality standards.

Minimum Qualification

• Bachelor’s degree in Finance or related discipline.
• Master’s degree in Business Administration or related discipline is preferred.

Minimum Experience

10 years’ relevant experience in the banking sector with at least 4 years in similar positions of progressively increasing managerial responsibilities in the Risk Management / Global Markets function.