The CRO is responsible for designing and implementing the institution's overall risk management framework. This includes identifying, assessing, monitoring, and mitigating all forms of risk (credit, operational, market, liquidity, reputational, etc.) in line with the Banking and Financial Services (Microfinance) Regulations. The CRO works closely with senior management and the Board to ensure that the microfinance institution's operations are conducted within acceptable risk tolerances, safeguarding depositors' funds and maintaining regulatory compliance.

Requirements

• Educational Background: Bachelor's degree in Finance, Accounting, Economics, Business Administration, or related field. A master's degree or professional qualification (e.g., FRM, PRM, ACCA) is highly advantageous.

• Professional Experience: At least 8-10 years of experience in risk management roles within financial services, preferably in microfinance, banking, or similar regulated sectors.

• Regulatory Knowledge: Solid understanding of Zambian financial regulations, prudential standards, and the Banking and Financial Services Act.

• Technical Skills: Proficiency in risk analytics, stress testing, credit scoring, and statistical tools. Familiarity with enterprise risk management frameworks is essential.

• Leadership Skills: Demonstrated success in building and leading high-performing risk teams, including developing talent and driving a culture of risk awareness.

Core Competencies

• Analytical Rigor: Ability to synthesize complex data into clear insights and recommendations.

• Regulatory Compliance: Thorough understanding of local and international risk-related regulations and standards.

• Communication & Influence: Capable of engaging with Board members, regulators, and cross-functional teams to advocate for sound risk practices.

• Strategic Perspective: Balances short-term operational demands with long-term institutional sustainability.

• Problem-Solving: Quick to identify root causes and design effective mitigation strategies.

Personal Attributes

• Integrity & Ethics: Upholds the highest ethical standards in all risk management practices.

• Detail-Oriented: Meticulous in reviewing data, policies, and risk assessments.

• Forward-Thinking: Anticipates emerging risks and proactively adapts frameworks and controls.

• Collaboration: Works seamlessly with peers, offering guidance and support across functions.

• Resilience: Adapts to evolving market conditions and regulatory changes with agility.

Key Responsibilities

1. Risk Strategy & Framework

• Develop Risk Policies: Formulate and periodically update risk management policies, procedures, and risk appetite statements, ensuring alignment with local regulatory requirements and global best practices.

• Enterprise Risk Management (ERM): Oversee the implementation of an integrated ERM framework across the institution's functions, ensuring consistency and transparency in risk assessments.

2. Risk Identification & Assessment

• Risk Mapping: Identify all relevant risks (credit, operational, market, liquidity, reputational, etc.) and maintain an up-to-date risk register, with clear definitions and scoring methodologies.

• Scenario Analysis & Stress Testing: Conduct regular stress tests and scenario analyses to gauge the institution's resilience under adverse conditions.

3. Risk Monitoring & Reporting

• Monitoring Systems: Establish and maintain robust monitoring systems, dashboards, and key risk indicators (KRIs) for each risk category.

• Regulatory Reporting: Ensure timely submission of risk-related reports to the Bank of Zambia and other relevant authorities, including credit exposure, delinquency ratios, and any other prudential returns.

• Board Updates: Prepare and present comprehensive risk reports to the Board Risk Committee, highlighting significant exposures, trends, and mitigation plans.

4. Credit Risk Management

• Credit Policies: Collaborate with credit and operations teams to design and refine credit policies, underwriting standards, and loan approval processes.

• Portfolio Oversight: Monitor portfolio quality, delinquency trends, and provisioning requirements, ensuring compliance with regulatory guidelines.

5. Operational & Compliance Risk Management

• Internal Controls: Work with the CFO, Chief Compliance Officer, and operations teams to develop effective internal controls that mitigate fraud, process errors, and other operational risks.

• Incident Management: Establish procedures for detecting, investigating, and resolving operational incidents, ensuring lessons learned are integrated into revised policies.

6. Market & Liquidity Risk

• Liquidity Management: Collaborate with Treasury and Finance to oversee liquidity risk, ensuring that adequate funding sources and contingency plans are in place.

• Interest Rate Risk: Identify and manage risks related to changes in interest rates, aligning strategies with overall business objectives.

7. Leadership & Culture

• Risk Culture: Champion a culture of risk awareness, ethical behavior, and accountability throughout the organization.

• Team Development: Recruit, train, and mentor staff within the risk management function, fostering professional growth and succession planning.

8. Strategic Advisory

• New Products & Initiatives: Evaluate the risk implications of new products, services, and markets, providing actionable recommendations to executive leadership.

• Cross-Functional Collaboration: Work closely with the CEO, CFO, CRO (Chief Compliance Officer), and other senior leaders to integrate risk considerations into strategic decisions.

Benefits

Paid Time Off
Training & Development budget
Paid company business trips
Hybrid work
Competitive Compensation

Recruitment Process

Screening call with Recruiter: 30 minutes
Interview with the Director of International Expansion
Interview with the CEO/CRO
Panel discussion

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