IDB2785 - Associate, Risk Management

Business Unit: ICIEC
Division: Risk Management Division- ICIEC
Department: Not Applicable
Country: Saudi Arabia
Location: Saudi Arabia - Jeddah
Closing date: 24-Mar-2022

JOB PURPOSE:

The role of Associate, Risk Management is coordinating the Division’s functions in general, liaising with other stakeholders to collect and disseminate risk information, handling internal and external correspondence, keeping records and performing required general job function.

In addition, the role assists in implementation of risk management mandates such as assessment of country risk, Credit Risk, Operational & Market Risk for insurance, Investment and other operations, ensuring their accuracy, efficiency and effectiveness and highlighting any deficiencies.

Moreover, the job holder is responsible to undertake coordination of risk awareness programs, in addition to monitoring and reporting on changes in external credit ratings and risk profiles of countries and financial institutions.

KEY RESPONSIBILITIES:

Country Risk support:

  • Monitors regularly changes in country ratings, financial risk developments and economic outlook of the member countries as well as the Corporation’s debtor countries by external agencies and prepares relevant reports.
  • Conducts market research and collects necessary input, including country information / notes, research publications prepared by various organizations like the World Bank (includes MIGA), IMF, EIU, Coface, Euler Hermes, OECD, Bloomberg etc. and rating agencies etc.
  • Supports more senior team members in updating the country risk rating with the application of the internal rating model.

Credit Risk support:

  • Collects necessary information for risk reports on the banks and financial institutions, Policyholders/Buyers /Guarantors for Political and Credit risk Insurance as well as Investment as and when required;
  • Under the guidance of senior staff, collect information for conducting risk analysis of Policyholders/debtors/buyers from credit risk perspective using the Corporation’s internal model;
  • Provides necessary input and support for the proper evaluation of any associated credit related risks of Insurance for sovereign and commercial risks;
  • Supports to prepares regular and ad-hoc clear, concise and comprehensive reports & studies as requested by the management to enable sound decision making;
  • Circulates the risk alerts report to internal staff members cleared by senior team members and the Manager;
  • Coordinates and interfaces with the other Departments in order to obtain buy-in to the Enterprise Risk Management policies;
  • Liaises with Information Technology and other relevant Departments to develop and implement systems that help in portfolio risk measurement and provide analytics and information support to ICIEC;
  • Monitors and reports the adherence to policies, procedures, methodologies and systems used in portfolio risk management throughout ICIEC and take corrective action as necessary;
  • Monitors ICIEC's portfolio/exposure quality and reports on breaches/ compliance with ICIEC risk management framework and exposure limits; and
  • Participates in monitoring portfolio risk profile, analyses its evolution and assess concentration risk and compliance with policy and management limits.

Operational and Market Risks support

  • Coordinate SOPs, risk register, KRIs, RCSA, and loss data collection;

     

  • Coordinate ERM related exercise and reports;

     

  • Coordinate information security functions (ISMS);

     

  • Coordinate Whistle blowing and present for management action timely;

     

  • Collects industry wise pricing for related Insurance and suggests periodically;

     

  • Monitors compliance to internal pricing model;

     

  • Coordinate in External Rating Agencies reviews,

     

  • Collects and coordinate reports on investments and treasury functions; and

     

  • Collects reports on FX risk related data and forecasting.

 

Operational Excellence support

  • Ensures smooth delivery of the Division’s administrative functions;
  • Ensures that relevant Insurance databases are accurately and in-time updated (e.g. approved exposure limits, Maximum Aggregate Capacity Limit / liquidity placements and investment operations);
  • Proposes and implements process improvements to increase efficiency, effectiveness and compliance of the related operations;
  • Provides necessary input for the preparation of the budget of the Division;
  • Assists in report extraction from the corporation’s IT system for different Risk reports e.g. IBNR, NPLs, claims and recovery etc.; and
  • Reviews implementation of Operations and market related recommendations and management guidelines and ensure regular follow-up on the same.

 

 
 

JOB REQUIREMENTS:

Field of Study

  • Economics/Business/Finance/Computer Science/Mathematics/Actuarial/Risk Management

Academic Qualifications and Relevant Experience

Qualification Level

High School Diploma

Bachelor’s Degree

Master’s Degree

Doctorate

Experience

-

0-2 years

N/A

N/A

Nature of Experience

  • Prior experience in Risk Analysis, with experience in conducting Risk related functions in Export Credit agencies/ Multilateral /Banking Organizations.

BUSINESS LANGUAGE SKILLS:

Good command of written and spoken English essential, additional languages (Arabic, French) are an added advantage