Job Title :
- Head Retail Risk Management
Type: Full Time
Experience: Senior Management Level
- Bachelors Degree in a relevant subject (Business, Accounting & Finance)
- 24+ years’ experience in retail , worked in developed markets would be an great advantage
- Financial Analysis /Risk Assessment / Management
- Credit Facilities Structuring
Industry: Financial Services and Banking related
- Professional Qualification – Masters Degree in relevant subjects or Diploma in Banking preferred CA / CFA / FRM
- Minimum Qualification – Bachelors Degree in a relevant subject (Business, Accounting & Finance)
Department: Retail Risk Management
Reporting to: Chairman
Job location: UAE
Key Role Responsibilities:
• Design, build and lead a high performing risk team to ensure people deliver their potential and are managed with optimal efficiency. The incumbent must be a leader who can work collaboratively across multiple teams including Retail Lending, Sales and Service, Marketing, Operations and Systems teams.
• Take ownership of the determination of retail risk appetite and to the development of Retail risk strategic objectives regarding Retail lending, and enable the implementation of the Fintech risk vision for the company.
• Drive and champion in-depth risk analysis and measurement, leading to opportunities for improved performance. Provide strong risk leadership in the management of the retail segments for sustainable and profitable growth of these segments leveraging risk analytics and risk technology. Maximize risk/return trade-off, improve operational and credit processes
• Manage the development of risk models (using both AI / Machine learning ) across customer life and credit cycle. Contribute to the development of a robust data infrastructure for model development and analytics.
• Create meaningful analysis leading to credit strategy optimization, including but not limited to customer risk segmentation development that improves the portfolio’s risk-reward profile. Apply expertise and knowledge of financial services to understand profitability and performance drivers and build programs to optimize net financial contribution.
• Work with other business areas to provide risk analytics that evaluate current business processes and enhance decision making capabilities, providing quantitative analysis on a portfolio and segment level.
• Forecast key business metrics. Develop and maintain a standard set of risk and performance reports that evaluate the overall credit risk of the portfolio. Oversee and conduct sensitivity and scenario analyses
• Leadership, counsel and management of Collections Team (Model and IT, MIS/Reporting and Analytics, Credit Policy, Collection Policy, and Normalization and Recovery teams, Technologies, Procedures, Capacities, strategies, resources, and operational support)
• The incumbent will have expert knowledge of local credit Bureau , Central bank regulations relation to Retail lending, Regulatory impairment methodology, Local regulatory capital requirement, and International Financial Reporting Standards (IFRS9) and BASEL accord. The job holder will also ensure good relationship with local regulator and ensure the organization complies with all the local regulation relating to risk and will protect the organization from any reputational risk.
• Provide leadership and direction on the effective utilization of credit risk management tools to manage losses and fraud while supporting the expansion of non-branch portfolio acquisitions. Establish proactive channel management control capabilities, including targeted lead generation, channel specific scorecards and risk models, as well as early warning monitoring.
• Leverage the Credit Risk analytics team to identify new opportunities to drive the selection of credit risk targeting criteria and offer s to drive campaigns. Work effectively with the Retail business team and participate in regular meetings to understand key, and often multiple objectives
• Ensure compliance with Basel Committee on Banking Supervision (BCBS239) principles for risk data specially Principle 3 (Accuracy & Integrity), Principle 4 (Completeness) Principle 5 (Timeliness) Principle 6 (Adaptability) and ensure the data complies with risk local regulatory requirement and Credit Bureau reporting requirement. Develop and maintain sound risk data management methodologies to support effective risk management process.
• Provide thought leadership, of Consumer and Small Business automated support systems (I.e. origination, portfolio management, collection, and provision systems) Work within Risk Management to ensure all risk systems and strategies are capable and can be deployed in existing environments.
• Thorough understanding of departmental goals and active participation in Risk strategy design and development process. Provide consultative support to Senior Management, within and outside of Risk Management on initiatives pertaining to Credit Bureau , Risk Systems, Big Data, Risk Analytics ,International Financial Reporting Standards (IFRS9) , Basel and Collections.
Desired Skills and Experience
• Risk management techniques specifically relating to predictive modeling concepts combined with practical applications in diverse credit environments
• Use of Big data , both internal and External ( credit bureau)
• AI and Machine learning concepts and use cases
• Management of end to end Collection Process
• Credit Cards, including acquisition and portfolio optimization strategies across different products, populations.
• Retail credit products, policies, portfolios and delivery systems
• Operational and reputational risk assessments and responses
• Industry trends, best practices, including direct and indirect competition
• Related legislative/marketplace/economic issues
• Credit bureau techniques and services
• Decision support tools and technology, including automated front-end application processing systems, adaptive control software, OLAP and data mining tools, data warehousing and decision engine software
• Financial measures of risk/return, costing and profitability, NPV, customer value, break even odds, life time value.
• Hands on PC skills, especially spreadsheets, LOS and core system
• Sound analytical, negotiation, decision making and problem-solving skills
• Retail Risk Analysis - in-depth management / analytics
• Process and product understanding
• Decision making and problem solving skills
• Competition Update and Training
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