Head of Risk job at FINCA

ABOUT FINCA IMPACT FINANCE

FINCA Impact Finance believes all people should have the opportunity to leverage their wisdom, talent and effort to determine their own destiny. Our worldwide network of full-service banks and microfinance institutions are grounded in the conviction that inclusive finance is critical to bringing people out of poverty. FINCA sets standards for the microfinance industry, constantly innovating and developing new products and services that help our customers achieve their dreams. Millions of entrepreneurs rely on FINCA’s commitment to customer protection and an unmatched customer experience to build a better future for themselves, their families, and their communities.

FINCA Impact Finance’s global network of microfinance institutions and banks provides responsible financial services and enables low-income entrepreneurs and small business owners to invest in their future. With 40 years of experience and a mostly local staff of nearly 5,000, FINCA delivers a double bottom line of social impact and profitability. We hire people from a wide variety of backgrounds at all career stages to fully connect with our customers and strengthen the institution. FINCA expects employees to personify our values of transparency, active listening, accountability, and respect. Successful candidates will embrace our brand attributes of warmth, trust, and responsible banking, and possess a commitment to collaboration, service, and inclusivity.

Role Purpose

The major purpose of the role is to establish, implement and enforce a robust enterprise-wide risk management framework and systems (policies, processes and tools) covering Strategic risk, Operational risk, Market risk, Liquidity risk, Reputational risk, Credit risk and Compliance risk. This involves assessing, recommending and championing implementation of a framework that best serves businesses of the organization and providing leadership to direct reports/functions within the Risk Management and Internal Controls Department.

Accountabilities

• Support business in developing appropriate Risk Management strategies/tools and disseminating appropriate risk management practices in line with developments in the market/industry, laws, regulations, etc,
• Overseeing and enforcing risk management policies and limits to close significant gaps in risk management capabilities (policy monitoring),
• Preparing and reporting KRI reports on Financial and Non-Financial Risks
• Guide, facilitate and support RCSA process,
• Providing an independent view of proposed business plans and appropriate reporting on risks identified to the Board Risk Committee and Executive Committee,
• Formulating and driving a wide range of risk management policy and process upgrades including improved analysis, systems, pricing/costing models, etc,
• Developing systems to generate a robust MIS to identify, monitor, manage and control credit, market and operational risks,
• Organize, manage and motivate the available human capital within the Risk Management and Internal Controls Department, through a suitable organization structure and development programs to optimize competence and productivity,
• Monitor and manage the performance and development of direct reports,
• Be the champion in ensuring improved understanding of risk management across the organization in terms of risk identification, assessment, monitoring and reporting, starting with the Senior Management Team.

Key Result Areas

• Coordinate policy and procedural manual development and ensure that policies and functional manuals are updated on an ongoing basis in line with changes in business risks, products/services, laws, regulations and market practices,
• Ensure that new or modifications to policies are communicated and distributed timely to all relevant staff,
• Establish a policy manual library and be a contact point for current policy manuals for internal and external stakeholders,
• Provide assistance in development and implementation of work flow process maps for subsidiary policies,
• Be the custodian of all electronic versions of newly created and revised policies and procedures and make sure that the policy library is kept up to date,
• Ensure Policy Review meetings are held as outlined in the MRC Charter,
• Coordinate development and regular updates of Risk Registers [Key Risk Profiles] for major business activities /processes such as Lending, Customer Account Management, Procurement, etc,
• Establish accurate and timely reporting structure for Financial and Non-Financial KRIs,
• Support development/updates of business resumption plans, including review, and or support development of business continuity plans,
• Oversee incident management processes including recording, analysis, and investigations; and reporting on events that may affect business plus ensuring timely implementation of remedial action plans.

Qualifications

• Relevant professional qualifications, bachelor’s degree in business/Credit or Finance, Post-graduate degree and certifications in Risk Management and ESG will be an added advantage

Experience

• Five years working experience in internal control, audit, or risk management, preferably in financial services industry/sector,
• Three years’ experience in management/leadership role.

Knowledge and Skills

• High proficiency in use of computerized applications such as Microsoft Excel, Word, Power Point, and Visio,
• Knowledge of consulting, management, strategic planning, and change management techniques to strengthen risk management across the organization,
• Knowledge and understanding of modern Enterprise Risk Management (ERM) practices within the financial services industry,
• Knowledge of the Basel II Risk Management Framework and its implementation implications for the organization,
• Knowledge of banking policies, processes, procedures, and regulatory requirements to ensure compliance with established standards and benchmarks,
• Knowledge of policy and procedure formulation, implementation, and enforcement across the institution,
• Knowledge of the Risk Control Self-Assessment (RCSA) framework and its implementation,
• Knowledge of different risk categories affecting the organization and the principles of risk appetite to support sustainable business growth,
• Knowledge of crisis management and business continuity planning within the organization,
• Strong interpersonal, communication, and stakeholder management skills to effectively manage internal and external customer expectations,
• Technical risk management skills to perform, guide, and monitor risk management activities in accordance with established standards and benchmarks,
• Leadership and change management skills to foster employee satisfaction, engagement, and successful implementation of strategic initiatives,
• Performance management skills to optimize employee productivity and achieve organizational objectives,
• Organizational development skills to structure and align the risk management unit for optimal performance,
• Teamwork and relationship-building skills to foster trust, encourage open communication, and promote a performance- and customer-service-oriented culture.

Language Skills

Fluency in English required.

Travel requirements

Availability to travel up to 25% of the time.

• Support business in developing appropriate Risk Management strategies/tools and disseminating appropriate risk management practices in line with developments in the market/industry, laws, regulations, etc,
• Overseeing and enforcing risk management policies and limits to close significant gaps in risk management capabilities (policy monitoring),
• Preparing and reporting KRI reports on Financial and Non-Financial Risks
• Guide, facilitate and support RCSA process,
• Providing an independent view of proposed business plans and appropriate reporting on risks identified to the Board Risk Committee and Executive Committee,
• Formulating and driving a wide range of risk management policy and process upgrades including improved analysis, systems, pricing/costing models, etc,
• Developing systems to generate a robust MIS to identify, monitor, manage and control credit, market and operational risks,
• Organize, manage and motivate the available human capital within the Risk Management and Internal Controls Department, through a suitable organization structure and development programs to optimize competence and productivity,
• Monitor and manage the performance and development of direct reports,
• Be the champion in ensuring improved understanding of risk management across the organization in terms of risk identification, assessment, monitoring and reporting, starting with the Senior Management Team.
• Coordinate policy and procedural manual development and ensure that policies and functional manuals are updated on an ongoing basis in line with changes in business risks, products/services, laws, regulations and market practices,
• Ensure that new or modifications to policies are communicated and distributed timely to all relevant staff,
• Establish a policy manual library and be a contact point for current policy manuals for internal and external stakeholders,
• Provide assistance in development and implementation of work flow process maps for subsidiary policies,
• Be the custodian of all electronic versions of newly created and revised policies and procedures and make sure that the policy library is kept up to date,
• Ensure Policy Review meetings are held as outlined in the MRC Charter,
• Coordinate development and regular updates of Risk Registers [Key Risk Profiles] for major business activities /processes such as Lending, Customer Account Management, Procurement, etc,
• Establish accurate and timely reporting structure for Financial and Non-Financial KRIs,
• Support development/updates of business resumption plans, including review, and or support development of business continuity plans,
• Oversee incident management processes including recording, analysis, and investigations; and reporting on events that may affect business plus ensuring timely implementation of remedial action plans.

• High proficiency in use of computerized applications such as Microsoft Excel, Word, Power Point, and Visio
• Knowledge of consulting, management, strategic planning, and change management techniques to strengthen risk management across the organization
• Knowledge and understanding of modern Enterprise Risk Management (ERM) practices within the financial services industry
• Knowledge of the Basel II Risk Management Framework and its implementation implications for the organization
• Knowledge of banking policies, processes, procedures, and regulatory requirements to ensure compliance with established standards and benchmarks
• Knowledge of policy and procedure formulation, implementation, and enforcement across the institution
• Knowledge of the Risk Control Self-Assessment (RCSA) framework and its implementation
• Knowledge of different risk categories affecting the organization and the principles of risk appetite to support sustainable business growth
• Knowledge of crisis management and business continuity planning within the organization
• Strong interpersonal, communication, and stakeholder management skills to effectively manage internal and external customer expectations
• Technical risk management skills to perform, guide, and monitor risk management activities in accordance with established standards and benchmarks
• Leadership and change management skills to foster employee satisfaction, engagement, and successful implementation of strategic initiatives
• Performance management skills to optimize employee productivity and achieve organizational objectives
• Organizational development skills to structure and align the risk management unit for optimal performance
• Teamwork and relationship-building skills to foster trust, encourage open communication, and promote a performance- and customer-service-oriented culture
• Fluency in English

• Relevant professional qualifications
• Bachelor’s degree in business/Credit or Finance
• Post-graduate degree and certifications in Risk Management and ESG will be an added advantage