Al-Arafah Islami Bank PLC

Summary

Vacancy: 1
Location: Dhaka
Minimum Salary: Negotiable
Experience: At least 20 years
Published: 21 Oct 2024

Requirements

Education

Post-Graduation in Commerce/MBA/BBA from any UGC approved local or reputable foreign universities. However, someone having experience as Chief Risk Officer, even from other disciplines, may also apply;
Professional Certifications in risk management (e.g., FRM, PRM) or Islamic finance (e.g., CIB, CSAA) are highly preferred.

Experience

At least 20 years
The applicants should have experience in the following business area(s):
Banks

Additional Requirements

At least 20 years of experiences in Credit Risk management or Risk Management Division, compliance, or related fields within the financial services industry;
Significant experience in a senior leadership role as CRO at the level of Senior Executive Vice President (SEVP) or higher, preferably within a large financial institution for at least 3 years. Working experience may be relaxed for exceptionally deserving candidates;
Familiarity with international risk frameworks (e.g., Basel III) and Islamic financial products.

Responsibilities & Context

This role involves identifying, assessing, and mitigating risks that could impact the bank’s strategic objectives. The CRO will work closely with the executive team and the Board of Directors, especially the Audit Committee, the Risk Committee and dotted line report to Managing Director & CEO, to ensure that risk management practices are integrated into all aspects of the business and aligned with the bank’s strategic goals.

Key Responsibilities:

Risk Governance and Framework Development: Develop, implement, and oversee a comprehensive risk management framework that covers credit risk, market risk, operational risk, and liquidity risk in compliance with both Shariah law and conventional banking guidelines;
Defining Risk Appetite: Work with the board of directors to define the bank’s risk appetite, ensuring that the bank operates within acceptable risk limits while balancing business growth;
Credit Risk Management: Review and analyze all significant credit proposals, ensuring they align with the bank’s risk tolerance. This includes evaluating creditworthiness and structuring appropriate credit facilities, particularly focusing on Islamic banking products;
Portfolio Monitoring: Ensure continuous monitoring of the bank’s credit portfolio, identifying and mitigating potential risks. The CRO ensures that non-performing loans (NPLs) are kept within manageable levels;
Regulatory Compliance: Ensure that the bank complies with all relevant Bangladesh Bank guidelines, including those related to credit management, capital adequacy, and risk-weighted assets (Basel III standards);
Liaison with Bangladesh Bank: Maintain regular communication with the central bank to ensure timely reporting and compliance, especially concerning risk exposures and regulatory audits;
Operational Risk Management: Lead endeavor that the bank has a strong internal control framework to reduce operational risks such as fraud, technology failures, or process inefficiencies. This includes risk assessments related to information security, cybersecurity, and Shariah compliance. To establish protocols for detecting, reporting, and mitigating operational risks in real-time, ensuring minimal disruption to business operations;
Liquidity and Market Risk Management: Ensure that the bank maintains adequate liquidity to meet its financial obligations, especially in volatile market conditions. This includes managing liquidity buffers, ensuring Shariah-compliant liquidity solutions, and assessing the bank’s funding position. To oversee market risks related to fluctuations in interest rates and currency exchange rates, while ensuring all activities are in line with Islamic finance principles (avoiding Riba);
Shariah Compliance in Risk Management: Ensure that all risk management strategies adhere to Shariah principles, in collaboration with the Shariah Board, ensuring risks related to non-compliance with Islamic finance practices are adequately mitigated. This includes avoiding interest-based transactions and ensuring transparency and fairness in all contracts. To work closely with the Shariah Supervisory Board to align risk management practices with religious guidelines;
Collaboration with Business Units: Work closely with other departments (corporate, SME, and retail banking) to balance risk management with business growth. This involves assessing new products and business lines to ensure they align with the bank’s risk appetite;
Crisis and Recovery Management: Develop and maintain a Business Continuity Plan (BCP) and a Recovery Plan in case of a crisis, such as economic downturns or unexpected market shocks, ensuring the bank’s resilience;
Stress Testing and Scenario Analysis: Conduct regular stress tests to measure the impact of various adverse scenarios on the bank’s financial health, particularly focusing on areas like credit portfolio quality, liquidity, and capital adequacy;
Training and Development: Organize training programs to enhance employees’ understanding of risk-related matters, including compliance with Bangladesh Bank guidelines and Shariah principles;
Board and Committee Participation: Be an integral part of the bank’s Risk Management Committee, where key decisions related to risk appetite, risk limits, and strategic initiatives are discussed;
Audit and Compliance Committees: Provide risk insights and ensure effective governance as part of board-level audit and compliance committees;
Risk Culture Development: Foster a strong risk management culture across the bank, emphasizing the importance of risk awareness, especially within the context of Islamic banking and finance. Provide ongoing risk training and support to staff.

Skills & Expertise

Compliance Management

Credit Risk Management

Islamic Banking

Risk Management

Strategic Management

Strategic Planning

Workplace

Work at office

Employment Status

Full Time

Job Location

Dhaka

Job Highlights

The Chief Risk Officer (CRO) is responsible for developing and implementing a comprehensive risk management framework across the bank.

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