VP & Head of Market Risk Oversight

Job Summary / Introduction

Market Risk Oversight is a function within the Market Risk Management department. It is responsible for the measurement, monitoring, control and reporting of the market risk exposures emanating from Global Markets & Group Treasury activities. It ensures that the businesses operate within the Risk Appetite approved by the board. It is also responsible for the oversight over implementation of risk management controls and for performing deep market risk analysis of the bank’s profile, current and forward-looking, to allow the bank to make informed decisions on its market risk exposures and alert senior management on the potential risks to the bank from the open market risk exposures.

Market Risk Oversight is a function within the Market Risk Management department. It is responsible for the measurement, monitoring, control and reporting of the market risk exposures emanating from Global Markets & Group Treasury activities. It ensures that the businesses operate within the Risk Appetite approved by the board. It is also responsible for the oversight over implementation of risk management controls and for performing deep market risk analysis of the bank’s profile, current and forward-looking, to allow the bank to make informed decisions on its market risk exposures and alert senior management on the potential risks to the bank from the open market risk exposures.

Market Risk Oversight team maintains regular dialogue with Risk teams, Front Office, Product Control, IT, Risk & Front Office Quantitative teams across all areas of the bank with respect to data feeds and reporting. The VP & Head – Market Risk Oversight will be primarily responsible for developing and maintaining the Market Risk Oversight function under the aegis of Head of Market Risk Management in compliance with all regulatory guidelines and internal policies.

The role also requires working towards continuous improvement of processes through identifying global industry best practices and leading initiatives to streamline processes and enhance risk monitoring and analysis. Further, the individual will have to continuously work on enhancing the risk monitoring and analysis in line with the change in the risk profile of the bank and the market environment.

• Act in consonance with the Group’s vision and mission to facilitate the organizational objectives of growing stronger.
• Ensure the achievement of the bank’s business plans by optimizing risk adjusted performance of Trading & Investments activities of Global Markets & Group Treasury.
• Provide an assurance to the GCRO through the Head of Market Risk Management that all material market risks pertaining to Global Markets & Group Treasury have been identified and monitored with proper controls and/or mitigation plans to mitigate these risks.

• Establish and maintain a robust Market Risk Oversight function ensuring that all the open market risks are adequately monitored and reported in an accurate and comprehensive way.
• Provide executive management, directly or through risk committees, with a regular assessment of the market risk exposures and the risk profile of the Investments & Trading activities of the bank.
• Ensure strict adherence to the market risk appetite approved by the board.
• Drive the continuous development of the Market Risk Oversight function in line with market best practices, the bank’s risk profile and the market environment.
• Build effective partnerships with the Front Office and enablement teams to ensure accurate and comprehensive market risk oversight on a continuous basis.
• Deliver and maintain a strong, efficient control environment whereby adequate checks and controls are implemented to ensure the data reported to senior management is accurate and delivered on time.
• Ensure reporting is accessible for senior management by provision of concise, informative reports and commentaries.
• Act as the key point of contact for senior management with regards to market risk oversight associated with Trading & Investment activities.
• Be responsible for MR Oversight function…