Chief Risk Officer (CRO)

Job Functions:

Skill:

1. Risk Management Strategy & Framework 

·        Develop and lead the implementation of the bank’s risk management framework, ensuring alignment with regulatory requirements in Dubai and broader business objectives.

·        Define the risk appetite and tolerance levels in collaboration with the Board of Directors, establishing appropriate risk governance structures.

·        Conduct comprehensive risk assessments to identify emerging risks and propose mitigation strategies that align with the bank’s growth plans.

2. Operational & Enterprise Risk Management 

·        Oversee operational risk management processes, ensuring that business continuity, cyber-security, fraud prevention, and technology risks are properly addressed.

·        Implement risk controls across operational functions and monitor key risk indicators to prevent operational losses and business disruptions.

·        Ensure enterprise-wide risk management practices are embedded in all business units, providing oversight of risk management processes for new projects and ventures.

3. Credit & Financial Risk Oversight 

·        Lead the management of credit risks, including overseeing credit policy frameworks, loan approvals, and portfolio risk monitoring.

·        Manage financial risks, including market and liquidity risks, working closely with the finance and treasury teams to optimize capital allocation and liquidity planning.

·        Conduct stress tests, scenario analysis, and capital adequacy assessments to ensure the bank's financial stability under various risk scenarios.

4. Regulatory Compliance & Reporting 

·        Ensure compliance with UAE Central Bank regulations and international frameworks such as Basel III, FATF, and IFRS 9.

·        Lead the development and implementation of regulatory compliance risk management strategies, ensuring adherence to all legal and regulatory obligations.

·        Liaise with regulatory authorities in Dubai and other international jurisdictions, preparing regular reports on the bank’s risk profile and mitigation strategies.

5. Strategic Risk Management 

·        Provide strategic advice to senior management on risks related to new business initiatives, market expansion, and digital transformation projects.

·        Monitor geopolitical, economic, and regulatory changes in the UAE and international markets, assessing their potential impact on the bank’s operations.

·        Evaluate strategic risks associated with mergers and acquisitions, investments, and long-term business strategies.

6. Risk Culture & Awareness 

·        Foster a risk-aware culture throughout the organization by providing ongoing training and awareness programs for staff at all levels.

·        Ensure risk management policies and procedures are communicated clearly and adhered to across all business functions.

·        Engage with internal stakeholders to promote an integrated approach to risk management, encouraging proactive identification and management of risks.

7. Team Leadership & Development 

·        Lead, mentor, and develop a high-performing risk management team, ensuring the department has the skills and expertise needed to manage complex risks.

·        Ensure continuous professional development within the risk management function, keeping the team updated on emerging risks, regulations, and best practices.

·        Build a collaborative, transparent, and forward-thinking risk management function capable of supporting the bank’s growth in Dubai and international markets.

8. Crisis Management & Incident Response 

·        Lead the bank’s crisis management efforts, ensuring comprehensive incident response plans are in place for cyber-attacks, regulatory breaches, and operational failures.

·        Work closely with the internal audit, compliance, and IT teams to conduct post-incident reviews and apply lessons learned from risk events.

·        Ensure readiness for emergency situations, including regulatory investigations and business continuity disruptions.

 Key Skills & Competencies:

·         Strategic Leadership: Strong leadership skills with the ability to design and implement risk management strategies that align with the bank’s growth and regulatory requirements.

·         Regulatory Expertise: In-depth knowledge of UAE banking regulations, as well as global risk management frameworks such as Basel III, AML/CTF standards, and IFRS 9.

·         Financial & Credit Risk Management: Expertise in managing market, credit, and liquidity risks, with the ability to perform stress testing and capital planning.

·         Operational & Enterprise Risk: Strong experience in managing operational risk, including cyber-security, business continuity, and fraud prevention.

·         Analytical & Decision-Making: Strong analytical skills to assess risk exposures and develop mitigation strategies, with the ability to make informed decisions under pressure.

·         Stakeholder Engagement: Excellent communication and stakeholder management skills, with the ability to engage with regulators, board members, and senior leadership.

 Qualifications & Experience:

·        Bachelor’s Degree

·        10+ years of experience in risk management, with a minimum of 5 years in a senior leadership position within the banking or financial services sector.

·        Strong experience in managing financial, operational, and regulatory risks in the UAE, with a solid understanding of local banking regulations.

·        Proven track record of working closely with regulators, auditors, and senior management on complex risk management issues.

·        Experience with risk management tools and software, including enterprise risk management systems.