Family Bank (formely Family Finance Building Society) was registered as a Building Society in October 1984 in Kenya, under the Building Societies Act and commenced operations in the early 1985. Family Bank converted into a fully fledged bank in May 2007 and the main driver for our conversion was the need to offer a wider range of products and services to our customers.
Are you a go getter, positive minded individual who fits the role profile captured below? There is an opportunity for ambitious, self-driven individuals to fill the above position.
Reporting to: Board Risk Committee and administratively to the Managing Director & Chief Executive Officer.
Job Purpose:
To be the center of expertise for all aspects of Risk, Controls & Process Management. You will be responsible for driving Risk Management framework that enables the Bank to proactively identify, analyze, respond to, monitor and mitigate the key risks to the realization of business strategic objectives as well as ensuring total compliance to regulatory and operational requirements at all times. The role has overall accountability for ensuring that the Bank has a risk response strategy for specific risks identified and analyzed thus enabling the Bank to pragmatically deal with uncertainty and associated risks.
Key Responsibilities:
- Development and implementation of a comprehensive Enterprise Risk Management (ERM) infrastructure that integrates risk management with the Bank’s strategic management process
- Development and enhancement of various Control Tools for management e.g. snap Check, RCSA (risk control self-assessment) and other Management Checks
- Developing and sustaining a risk management culture across the Bank
- Setting appropriate Risk Management KPIs that facilitate SMART management of risk across the Bank
- Proactive environment scanning for possible risk events ahead and building risk mitigations to preempt and reduce impact of the identified risk events. Identifying material individual, aggregate and emerging risks;
- Serving as the key link between the Board Strategy Committee and management in setting the risk appetite for the Bank and assisting the Board and Management in monitoring and management of risks
- Managing and participating in key decision-making processes such as strategic planning, capital and liquidity planning, new products and services
- Ensuring implementation of appropriate Risk Control Self-Assessment (RCSA) discipline for each Business/Department in the Bank
- Consolidation of “Lessons Learnt” and integration of the same in Bank policies and procedures to continually improve the Risk Management and Compliance in the Bank
- Ensuring full compliance to AML/CFT, KYC and other regulatory requirements across the Bank
- Ensuring prompt reporting of risk events at the appropriate level
- Ensure that the bank policies are approved by the management and the board
- Actively engage in the process of setting risk measures and limits for the various business lines and monitoring their performance relative to risk-taking and limit adherence
- Establishing an early warning or trigger system for breaches of the bank’s risk appetite or limits
- Custodian of the Bank Policies and Procedures; taking a leading role in reviews of the Bank’s risk control policies, processes, data analysis and corresponding controls
- Ensuring all Policies and Procedures are current and updated regularly
- In liaison with the HR department, ensuring that all staff are well trained and conversant with the relevant policies and procedures in their respective areas of work
- Actively participating in Assets and Liabilities Committee (ALCO) of the Bank and providing critical input to help drive decision making on the optimal level of Risk Return trade-offs on transactions, products and business segments
- Establishment of fraud risk warning model and monitoring system, and quantitative analysis of risk data
- Identification of governance loop holes in operating procedures and recommendation of appropriate segregation of duties and responsibilities
- Dipstick risk management and compliance checks across the Bank
- Ensure adherence to regulatory risk management framework
- Developing, coaching, motivating and managing the performance of individuals and teams within the department and across the Bank to achieve success in career and business goals
- Actively providing leadership by contributing to the collective Leadership Agenda and sharing business insights/ feedback to maximise the overall performance and wellbeing of the Bank.
- Controls Catalogue: Based on review of procedures and walkthroughs, maintain an inventory of internal controls and map them to key risk areas.
- Track the progress of remediation of control weaknesses identified by Internal Audit, self-testing, or controls assessment.
- Identify emerging risks that present new regulatory, fraud, or money laundering risks. These includes risks associated with new products and services, customer types, geographies, and channels.
- Coordinate the collection of risk information from source systems, departments, and reporting. Analyze the data and apply to various key risk areas to update the risk profile.
- Provide assistance to in developing and updating policies and procedures by enforcing document standards.
- Staff capacity building on risk and compliance issues
- Fostering risk and compliance culture in the entire bank
Key Competencies and Attributes
- High level of integrity and passion for driving governance
- Outstanding organizational and leadership capabilities
- Exceptional aptitude in decision-making and problem-solving
- Energetic, highly motivated with passion for excellence in achieving business growth.
- Demonstrate strong knowledge of risks identification, assessment, and management frameworks.
- Strong knowledge of control frameworks and the ability to design and evaluate effectiveness of controls embedded within business processes.
- Knowledge of the risk and governance standards including Basel Corporate Governance Principles.
Qualifications
- Bachelor’s degree in Accounting, Finance, Economics, Statistics or Business Related field
- Holder of a Master’s degree in Business Administration its equivalent an added advantage
- Professional Qualifications such as ACCA, CPA, CISA
- In depth knowledge of Banking Operations, Risk and Controls
- Grasp of CBK prudential guidelines, Basel Rules, Banking Act, IFRS and other statute
- A minimum of eight (8) years relevant work experience in diverse functions of a Bank at senior management level; 6 of which must have been in a senior risk management role in a significant size commercial Bank in Kenya.
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