Chief Risk Officer in Banking Industry (Oversea Budget 350-400)

Position: Chief Risk Officer (Banking Industry Oversea) Budget 350-400K

This position is responsible for overseeing overall risk activities (Credit Risk, Market Risk and Operational Risk) and establishing the policies, strategies and objectives. Lead, facilitate and co-ordinate risk identification and mitigation. Provide risk framework and boundaries as defined by the Board through risk appetite framework. Create culture of risk awareness within the organization and embed risk consideration into strategic decision making. To present regular reports about operations under responsibilities to the President & Chief Executive Officer and Board of Directors.

As the Chief Risk Officer (CRO) in the banking industry, you will be responsible for overseeing and managing all aspects of risk within the organization. Your primary role is to identify, assess, and mitigate risks to ensure the safety and soundness of the bank's operations. You will play a critical part in shaping the risk management strategy and culture of the bank.

To be a representative of Risk management team. This position is responsible for supporting CRO in overseeing overall risk activities (Credit Risk, Market Risk and Operational Risk). To ensure that the oversea subsidiary and its financial business group keep enhancing risk management framework, designed to identify potential events that may affect and manage risk to be within the risk appetite, to provide reasonable capital/reserve adequacy regarding the achievement of businesses objectives.

Key Responsibilities:

• Risk Management Strategy: Develop and implement the bank's risk management strategy, including risk assessment methodologies, risk appetite frameworks, and risk tolerance limits.
• Risk Assessment: Continuously assess and analyze all types of risks the bank faces, including credit risk, market risk, operational risk, liquidity risk, and compliance risk.
• Risk Mitigation: Devise risk mitigation strategies, policies, and procedures to minimize the impact of identified risks. Implement risk control measures and monitor their effectiveness.
• Regulatory Compliance: Ensure the bank's compliance with all relevant banking laws and regulations, and work to establish a culture of regulatory compliance throughout the organization.
• Credit Risk Management: Oversee the credit risk management process, including credit underwriting, loan portfolio quality, and provisioning for credit losses.
• Market Risk Management: Manage market risk exposures related to interest rate risk, foreign exchange risk, and investment securities.
• Operational Risk Management: Implement strategies to mitigate operational risks, including technology risk, fraud, and process failures.
• Liquidity Risk Management: Monitor and manage liquidity risk, ensuring that the bank maintains sufficient liquidity to meet its obligations.
• Risk Reporting: Provide regular risk reports to the board of directors, executive management, and regulatory authorities. Ensure transparency and clarity in risk reporting.
• Stress Testing: Conduct stress tests to evaluate the bank's resilience under adverse economic conditions and adjust risk strategies accordingly.
• Risk Culture: Promote a strong risk management culture within the bank, including education and awareness programs for employees at all levels.
• Disaster Recovery and Business Continuity: Develop and maintain comprehensive disaster recovery and business continuity plans to ensure the bank's ability to operate under adverse circumstances.

Qualifications and Requirements:

• A bachelor's degree in finance, economics, business, or a related field is typically required. An advanced degree (e.g., MBA or masters in risk management) is highly desirable.
• A minimum of 10 years of experience in risk management, with significant experience in the banking or financial services sector.
• Strong knowledge of banking regulations and compliance requirements.
• In-depth understanding of financial instruments and their associated risks.
• Excellent analytical and problem-solving skills, with the ability to make data-driven decisions.
• Strong communication skills, as you will be interacting with various stakeholders, including regulatory authorities.
• Leadership and management experience, as the CRO typically leads a team of risk professionals.
• Strong ethical standards and a commitment to upholding the highest levels of risk management and compliance.
• The role of Chief Risk Officer is crucial in maintaining the financial stability and reputation of a bank. This position requires a dynamic and experienced individual who can proactively manage and mitigate risks to ensure the bank's long-term success while remaining in compliance with regulatory standards.