Global Head of Risk Strategy and Governance

Job Purpose

The main purpose of the role is to lead the definition and implementation of a comprehensive Risk Strategy and Governance Framework across Mashreq Bank (MB) and assist the Group CRO in execution of effective risk governance. Also responsible for managing all Country Risk Officers in Mashreq Bank’s Branches.

Key Result Areas

Leadership 

• Guide and manage a team of professionals of varying backgrounds and across multiple locations; ensure staff development and high levels of staff engagement.

• Guide and manage all Country Risk Officers across Mashreq Bank’s International Branches

• Provide managerial leadership to progress to completion projects and activities in alignment with Risk Management and Mashreq Bank’s objectives

Strategic Thinking & Decision making

• Find solutions to differing, potentially conflicting, strategic views and inputs on matters pertaining to risk management and direction of the department.

• Interpret and provide guidance on central bank regulations and pronouncements.

• Provide guidance to specialized risk functions and international locations in maintaining relevant risk governance. 

• Owner of risk policies like Group Risk Management Framework (GRMF), International Risk Management Framework, Strategic Risk Management Framework, Policy of Risk Policy Management, etc.

• Provide strategic inputs to the LF MBO reports and RISE metrics.

• Be responsible to lead the AI governance and AI use cases adoption from RMG.

Regulatory Compliance and Risk Assurance

• Responsible for overseeing all regulatory compliance for home and host country regulators within RMG and providing Assurance and regular update to RMG including:

  • Responsible for Compliance of New and Existing CBUAE regulations, standards and guidance across RMG..

  • Provide assurance updates for CBUAE and other regulators on a regular basis and monitor compliance against them.

  • Maintain a regulatory compliance repository for monitoring purpose.

  • Maintain risk management policies calendar and ownership of risk policy vault.

  • Responsible for implementing regulatory instructions within RMG specifically be responcible for CBUAE’s CRMS and Recovery Plan regulations implementation and ongoing monitoring.

Risk Policy & Governance 

• Support the definition of and effective execution of risk governance within Mashreq Bank, including; 

  • Acting as the secretary and main point of contract for Group Risk Committee;

  • Supporting the operations of Board Risk Compliance & ESG Committee; and

  • Continuing to facilitate the definition of a consistent risk governance framework across all Mashreq Bank locations.

• Accountability for central management of enterprise-wide and other risk policies, including:

  • Definition and roll-out of relevant central risk policies in alignment with CB UAE requirements and Mashreq Bank risk appetite; and 

  • Assisting in the consistent articulation of risk frameworks and policies for major risks.

• Ensure emerging and new regulations and risks interpreted, understood and communicated. 

Committees & Governance

• Act as Secretary for the Group Risk Committee (GRC). GRC is a sub-committee of the BRCESGC. It functions as a management committee, for day-to-day management of risks in line with the approved risk framework and within the Group’s risk appetite. The committee will be responsible to formulate a bank wide approach to risk management and to communicate the approach across the Bank. The committee shall have the following responsibilities: 

  • monitor that the Bank operates within the established Risk Governance framework, Risk Appetite and Risk limits.

  • oversee implementation of sound risk management policies, effective procedures and robust systems across the bank (including international branches).

  • Review and recommend Level 1 risk management policy/ framework documents to BRCESGC for approval in line with Policy on risk policy management and approve Level 2 risk management policy/ framework documents in line with Policy on risk policy management.

  • ensure that the risk management policies and documents are compliant with regulatory requirements

  • review the risk appetite metrics on a periodic basis, take appropriate actions wherever necessary and report breaches to BRCESGC

  • review the risk profile report for all material class of risks viz. credit risk, operational risk, market risk, liquidity risk, business continuity, country risk etc. 

  • review and approve the risk management models being used by the Bank 

  • review and recommend the Group Internal Capital Adequacy Assessment Process (ICAAP) to the BRC for approval

  • review the action plans of the GRC meetings and follow-up on the closure timelines

  • review and approve the Level 3 committee charters as and when presented to GRC for approval

  • review and approve any standing agenda items/ matters requiring attention as and when presented to GRC for approval

• Responsible to implement GRC charter/ terms of references (TOR).

• Responsible for co-ordination and conduct of Board level Risk Committees along with the Group Company Secretary. 

• Responsible for running Assurance forums for RMG and also responsible for running International Risk Forums.

   

Operating Environment, Framework and Boundaries, Working Relationships

Accordingly, the job holder is expected to have significant exposure to Mashreq Bank Leadership Forum (LF), the CEO, Non-Executive Directors of the Bank, Central Bank Regulators and external consultants.

Problem Solving

 The role holder is expected to possess advanced communication and problem-solving skills in order to:

• Find solutions to differing, potentially conflicting, strategic views and inputs on matters pertaining to risk management and direction of the department.
• Comprehend and resolve issues associated with complex IT infrastructure and architecture.  
• Interpret and provide guidance on central bank regulations and pronouncements.

Resolve multi-faceted data souring and related problems.

Decision Making Authority & Responsibility

The job holder is responsible for:

• leading a critical risk management and regulatory reporting function within Mashreq Bank 
• Making decisions that impact MB’s domestic and international audit and regulatory compliance. 

Making decision pertaining to capital & operating expenditure and development of 10 staff.

Knowledge, Skills and Experience

Mandatory / Essential: 

• Undergraduate degree in Finance, Risk, Economics or other related field
• 15+ years of progressive, multi-discipline risk management experience within banking sector
• Deep understanding of risk management concepts and methodologies gained through development and practical application of risk policy/frameworks
• Demonstrated capability to apply risk management concepts, analysis and support to strategic decision-making processes
• Demonstrable people and managerial leadership experience in a matrixed and multi-jurisdictional organization; ability to lead direct and cross functional teams 
• Outstanding interpersonal and influencing skills; Posses gravitas, personal credibility and ability to influence stakeholders at all levels, particularly senior colleagues.
• Good negotiator to resolve conflicts and ensure clear progress is made.

Desirable:

• Postgraduate or professional qualification in risk management or finance such as CFA, FRM, PRM.
• Experience of developing and implementing an RSG Framework in a multi-jurisdictional and matrixed organization. 
• Understanding and experience of BCBS frameworks, particularly those relating to risk and capital.

Understanding of International best practices for Governance in International branches.