Head, Risk Management at Deloitte Nigeria

Deloitte Nigeria – Our client, a Development Finance Institution positioned to empower more micro, small and medium enterprises across Nigeria desires to establish a Credit Guarantee Facility (CGF) which would further incentivize banks to lend to the MSME segment, through the provision of credit guarantee coverage for loans made to eligible MSMEs by Participating Financial Institutions.

To align with good corporate governance practices, the CGF is envisaged as the wholly-owned subsidiary of the DFI and towards the achievement of this initiative, we seek to fill the vacant position below:

Job Title: Head, Risk Management

Reference Number: CGF005
Location: Nigeria

Job Summary

The Head, Risk Management shall have the primary responsibility for developing and ensuring effective and efficient implementation of the CGF’s risk management framework, including review of the framework and obtaining all the necessary approvals.
The job holder will be responsible for assessing, rating, recommending, monitoring and reporting on the operational, financial, strategic and compliance risks that the CGF faces in delivery of its mandate.
The job holder will also be responsible for the assessment and monitoring of the credit risk of the CGF’s counterparties, including partner financial institutions, issuers of investment instruments etc.

Duties and Responsibilities
Set up the CGF’s risk management function:

Establish and run the risk management function in a hands-on fashion initially, before building a team in line with the CGF’s growth;
Develop the framework, policy and operating guidelines for the CGF’s risk management function;
Plan, design and implement an overall risk management process for the CGF and develop risk management systems, including operating and financial models;
Create and improve tools for identifying, measuring, monitoring, controlling and reporting risks for the CGF;
Head the Risk Committee for the CGF;
Identify the loss/risk drivers inherent in CGF’s strategy in setting-up risk management environment;
Establish and manage relationships with internal and external stakeholders and customers of the CGF;

Risk Management:

Continuously develop, enhance and embed the risk framework for managing risks across the institution, ensuring that processes are fit for purpose;
Work closely with the CEO, CFO, relevant board members and committees, senior managers across the CGF in moulding a well-controlled, high achieving organization which can fulfil its mandate safely;
Perform research to identify the risks facing the CGF, their severity and determine the probability of occurrence;
Develop strategies to measure identified risks appropriately, and articulate a coherent risk appetite for the CGF;
Design operational policies and procedures to mitigate the risks;
Implement and assign responsibilities for risk management;
Perform risk monitoring and risk reporting to different stakeholders;
Establish and maintain risk governance systems and structures at management level, in accordance with the overall risk management framework approved by the Board;
Lead the CGF’s efforts in pursuing risk re-guarantees and co-guarantees, where such are considered;
Embed a positive culture of confident and informed risk-taking through training, communication and promotion of the agreed risk framework;
Provide essential input on the CGF’s enterprise risk management to the board risk committee, the CEO and senior management of the CGF;
Liaise with internal and external auditors in assessing and providing independent assurance of the adequacy, appropriateness and effectiveness of the CGF’s overall risk management framework, policy and implementation plan;
Partner effectively with third parties, regulatory bodies and others, as appropriate, and serving as a role model for high personal and corporate ethical values and standards of integrity.

Other Duties:

Regularly participate in management meetings, and carry out any other duties as may be required.
Budgeting responsibilities – discretionary control over risk department budgets up to a level approved by the CEO.

Experience & Qualifications

Bachelor’s degree in Finance, Accounting or Business Administration
Professional accounting qualifications such as CPA or ACCA;
Master’s degree in Business Administration and/or Finance/Accounting will be an added advantage;
Significant experience in financial services particularly in the areas of best practice risk management and governance frameworks, methodologies and emerging practice (at least 10 years, of which 6 should be in a senior managerial role);
A background in banking, insurance or trade finance is essential;
Experience with credit risk guarantees/insurance and exposure to development issues is desirable;
Experience in a fast growing, challenging business environment;
Strong mentoring and coaching experience to a team with diverse levels of experience;
Ability to exercise oversight over oversight over governance, risk, compliance and control arrangements in a complex financial operation;
Proven ability to oversee a number of risk types, ideally including credit risk, operational risk, market risk, liquidity risk, reputational risk, legal risk, compliance risk, AML risks, information security risk, concentration risk, investment risk, and strategic risk;
Knowledge and understanding of risk control arrangements;
Knowledge in regulatory environment and key regulatory regimes in Nigeria;

Desired Competencies:

A self-starter with strong internal motivation, able to set-up systems and procedures in a ‘start up’ environment, and with a passion for helping MSMEs succeed;
Commercially astute: A high degree of business acumen, entrepreneurial spirit and wants to grow with the company;
Skilled communicator with the ability to influence and motivate others;
Problem-solving and decision-making skills, with the ability to analyse complex information to identify the key issue/action and drive resolution;
Leadership skills, including the ability to manage risk, compliance and control activities in a complex financial operation;
Excellent IT and analytical skills;
A track record of delivering high performance and overcoming challenges;
A dedicated team player with a pragmatic approach;
Robust, organized, proactive and a flexible person with hands on mentality;
Excellent communication and presentation skills in English, both written and orally, including the ability to convey ideas and positions clearly and concisely;
An open-minded, personable individual with outstanding organizational skills;
Personal commitment to organization excellence; displays honesty, integrity, and a strong sense of ethics in all decisions and actions;