Manager - Operation Risk - Consulting Firm - Contractual Role

Operation Risk Manager - Global Consulting Firm - Contractual

Our Client is a prominent Global consulting firm and they have an exciting opportunity in their Financial Services - Risk Management practice in Saudi Arabia. The consultant will work in a client-facing role and take on the responsibility of advising clients on financial risk management aspects.

Required skills :

The firm is seeking to recruit a bright and enthusiastic expert resource who has relevant work experience and skills in the financial risk management domain. The candidate should have experience in one of the following areas :

1) Developing a framework for risk appetite and risk tolerance limits

- Developing the existing Risk Appetite framework.

- Developing a Risk Appetite Statement (RAS) approved by the Board of Directors in line with the strategy.

- Developing Tolerance Limits for the key risks.

- Developing a plan for maintaining and reviewing the Risk Appetite Framework and the Tolerance Limits.

2) Developing credit rating policies (including aspects of governance, development, utilization, validation, risks).

- Lead review, validation and enhancement of credit rating models for the project finance portfolio

- Lead development of credit rating models for retail or corporate or SME or project finance portfolios

- Developing a risk-based pricing framework to include the following: Methodology for calculating Risk-Adjusted Return on Capital (RAROC) against the Economic Capital (EC); Methodology for risk-adjusted performance assessment of business, areas and product types based on the developed credit ratings.

- Implementation of IFRS 9 standards across Banks

- Recommend and implement a methodology for the Stage wise allocation of assets

- Update the current PD models and compute PD estimates as per IFRS 9 guidelines

- Develop LGD estimation technique and arrive at LGD estimates

- Develop EAD estimation techniques and arrive at EAD estimates

- Development and update of Policies and Procedures for Implementation of IFRS - 9

- Reporting for the models mentioned above. Design reports templates

- Developing/reviewing and enhancing stress testing models and approaches

3) Reviewing and developing mechanisms for controlling the Credit Portfolio

- Review and develop working and monitoring mechanisms for the credit Portfolio in order to include the following general objectives:

- Setting the methodology/approach and standardizing risk measures and models.

- Carrying out portfolio stress tests.

- Undertake a review of the credit portfolios of the Corporate Banking Group and/or SME Banking in order to monitor portfolio credit quality, and identify portfolio trends with recommended actions for improvement in portfolio quality.

4) Market Risk

- Develop/implement/ establish and maintain market risk frameworks in banks, investment banks and FS firms aligning to regulatory and industry practices

- Risk appetite, limit, and stress testing frameworks for market risk. Setting risk tolerances and limit structures - cascading of risk appetite & link to asset allocation where relevant

- In-depth knowledge and technical skills related to Market Risk, deep understanding of new product approvals, economic and regulatory capital models for market risk

- Strong knowledge of Capital Market activities and financial products knowledge with prior professional experience analyzing/modeling derivatives

- Deep understanding of the credit and market risks relating to derivatives and structured products

- Knowledge of regulatory requirements and future changes, specifically those emanating from Basel and other regulatory authorities

- Experience with risk measurement techniques such as options theory (Greeks), VaR, other stress testing etc.

- Experience and knowledge with the Murex platform and its configuration /implementation

- Development, review and validation of VaR/ Stressed VaR, PFE and CVA/DVA models

- Development, review and validation of Derivative pricing models

- Ability to manipulate, analyze, summarize and present data/results

- Asset Liability Management

- Develop/implement/ establish and maintain ALM risk frameworks in banks, investment banks and FS firms aligning to regulatory and industry practices

- Risk appetite, limit, and stress testing frameworks for liquidity and interest rate risks. Setting risk tolerances and limit structures - cascading of risk appetite

- In-depth knowledge and technical skills related to liquidity and interest rate risks, deep understanding of ILAAP and IRRBB

- Strong knowledge and prior professional experience analyzing/modeling liquidity and interest rate risks

- Knowledge of regulatory requirements and future changes, specifically those emanating from Basel and other regulatory authorities

- Experience and knowledge with the OFSAA platform and its configuration /implementation

- Ability to manipulate, analyze, summarize and present data/results through dashboards

Experience : Candidates should have 3 to 7 years of professional experience with experience in leading consulting firms, specializing in FS Advisory or working in credit/ treasury/ market risk / ERM departments in Banks.

Education :

- MBA (Finance) from a leading business school OR

- Professional qualification (Chartered Accountancy) OR

- Bachelors in quantitative disciplines (Math/Statistics, Science, Engineering)

- Certifications like FRM and CFA would enhance the overall candidature.

Key Personal Attributes :

- A good blend of creative thinking and rigorous analysis in solving business problems. Strong inter-personnel, analytical and management skills.

- High energy individual possessing excellent analytical, interpersonal, communication and presentation

- Detail-oriented, self-starter and must work well in a team-oriented environment. Good oral and written communication skills

- Must have ability to multi-task.

- Regular reading habit for updating himself/herself and exhibit high level of confidentiality.

- Willingness to travel as necessary to meet client needs. Travel frequently required based on client requests/commitments. Second language skills and international business experience will be useful.