Seeking an experienced and strategic Head, Risk Management to provide leadership and oversight of the Bank's Enterprise Risk Management (ERM) framework. The successful candidate will be responsible for identifying, assessing, monitoring, and mitigating risks across all business functions while ensuring the Bank operates within its approved risk appetite and in compliance with applicable regulatory requirements. The role provides independent oversight of credit, operational, market, liquidity, information security, compliance, fraud, and strategic risks. Working closely with Executive Management, the Board Risk Committee, Internal Audit, and Regulatory Authorities, the Head of Risk Management will ensure effective risk governance, strengthen internal controls, and promote a strong risk-aware culture across the Bank.
KEY RESPONSIBILITY
Enterprise Risk Management (ERM)
● Develop, implement, and continuously improve the Bank's Enterprise Risk Management Framework in line with CBN guidelines and international best practices.
● Establish and periodically review the Bank's Risk Appetite Statement, Risk Policies, and Risk Management Framework.
● Coordinate enterprise-wide risk assessments across all business units and functions.
● Ensure risks are identified, assessed, monitored, mitigated, and reported effectively.
● Promote a strong risk management culture throughout the organization.
Credit Risk Management
● Provide independent oversight of the Bank's credit portfolio.
● Review credit proposals, risk ratings, and lending decisions to ensure alignment with approved credit policies.
● Monitor portfolio quality, non-performing loans (NPLs), concentration risks, and provisioning requirements.
● Recommend strategies for minimizing credit losses and improving portfolio performance.
● Conduct periodic portfolio stress testing and scenario analysis.
Operational Risk Management
● Develop operational risk management policies, tools, and methodologies.
● Identify operational risks across all business units and recommend appropriate mitigation measures.
● Monitor operational loss events, key risk indicators (KRIs), and control effectiveness.
● Lead Risk and Control Self-Assessments (RCSA) across departments.
● Oversee incident reporting and root cause analysis.
Market & Liquidity Risk
● Monitor exposure to interest rate, foreign exchange, and liquidity risks.
● Support Asset and Liability Management (ALM) activities.
● Evaluate market trends and assess their potential impact on the Bank's financial position.
● Conduct stress testing and sensitivity analysis to support strategic decision-making.
Regulatory Compliance & Governance
● Ensure compliance with CBN Risk Management Framework, Prudential Guidelines, Corporate Governance Guidelines, NDIC requirements, and other applicable regulations.
● Prepare regulatory risk reports and submissions.
● Coordinate regulatory examinations relating to risk management.
● Provide risk advisory support to Executive Management and the Board Risk Committee.
● Monitor emerging regulatory developments and recommend appropriate actions.
Fraud Risk Management
● Develop and implement fraud risk prevention and detection strategies.
● Monitor fraud trends, investigate emerging risks, and recommend control enhancements.
● Collaborate with Internal Audit, Compliance, Operations, and Information Technology to strengthen fraud prevention measures.
● Conduct fraud risk assessments across products, processes, and digital channels. Information Security & Technology Risk
● Assess technology, cybersecurity, and information security risks.
● Collaborate with the Information Technology and Information Security teams to strengthen cybersecurity controls.
● Monitor technology-related risks associated with digital banking platforms, payment systems, APIs, and cloud infrastructure.
● Support Business Continuity Management (BCM) and Disaster Recovery (DR) initiatives. Risk Monitoring & Reporting
● Develop Key Risk Indicators (KRIs), risk dashboards, and management information reports.
● Prepare monthly, quarterly, and annual risk reports for Executive Management and the Board. ● Monitor risk trends and emerging threats affecting the Bank.
● Present actionable recommendations to improve the Bank's risk profile.
Internal Control & Audit Support
● Collaborate with Internal Audit to strengthen internal control systems.
● Monitor remediation of audit findings and regulatory observations.
● Track implementation of corrective actions arising from risk reviews and examinations.
Leadership & Stakeholder Management
● Lead and mentor the Risk Management team.
● Foster a proactive risk culture across the organization through awareness initiatives and training.
● Work closely with Business Units, Compliance, Finance, Operations, Technology, and Executive Management on enterprise risk initiatives.
● Maintain productive relationships with regulators, external auditors, and other stakeholders.
QUALITIFICATION
● Bachelor's Degree in Finance, Accounting, Economics, Banking, Statistics, Actuarial Science, Business Administration, or a related discipline.
● A Master's Degree in Risk Management, Finance, Business Administration (MBA), or a related field is an added advantage.
Experience
● Minimum of 8–12 years of progressive experience in Risk Management within Banking, Financial Services, Fintech, or another regulated industry.
● At least 4 years in a senior leadership or managerial role.
● Strong experience across Enterprise Risk Management, Credit Risk, Operational Risk, Market Risk, Liquidity Risk, Fraud Risk, and Regulatory Compliance.
● Demonstrated experience interacting with regulators, external auditors, and Board Committees.
● Sound understanding of CBN Prudential Guidelines, Basel Risk Management Principles, and Corporate Governance requirements.
Core Competencies
● Enterprise Risk Management
● Credit Risk Analysis
● Operational Risk Management
● Market & Liquidity Risk
● Fraud Risk Management
● Regulatory Compliance
● Corporate Governance
● Internal Controls
● Business Continuity Planning
● Risk Analytics & Reporting
● Strategic Thinking
● Data Analysis & Decision-Making
● Stakeholder Management
● Leadership & Team Development
● Communication & Presentation Skills
● Problem Solving & Critical Thinking</p>
