Chief Risk Officer – Parwaaz Financial Services

Organizational Overview:

Parwaaz Financial Services (PFS) will a wholly owned subsidiary of Karandaaz Pakistan – A not-for-profit company funded by FCDO (Foreign, Commonwealth and Development Office) and BMGF (The Bill and Melinda Gates Foundation) with the vision of having a Financially Included, Empowered Pakistan. Karandaaz works for Financial Inclusion of the MSME through a commercially directed platform. As part of the commitment to increasing access of capital for SME sector, Parwaaz Financial Services will be incorporated as a Non-Bank Financial Company (NBFC) registered with SECP which will be solely focused on providing Credit and Financial Services to the SME Sector which is underserved when compared to other countries in the region.

Karandaaz’s vision is to create a best in class NBFC that can innovate, use cutting edge technology and think of out of the box solution for providing customized solutions for financing needs of the SMEs. The entity will be headquartered in Lahore but is expected to gradually expand its operations across Pakistan.

Position Overview:

The CRO will be responsible for overseeing the development and implementation of the enterprise risk management function including design and development of risk management strategies, policies and procedures, with particular emphasis on credit risk.

Job Tasks:

Major Responsibilities – Credit Risk

• Design, develop and implement credit risk management strategies, policies and procedures pertaining to SME industry
• Responsibility also includes reviewing a change in the value of a security, contracting or asset resulting from a change in the counterparty’s creditworthiness to support bank wide Risk Management (ERM).
• Responsible for identifying, measuring, monitoring and recommending mitigation strategies on account of credit risk. It includes development of assessment and monitoring tools to ensure that bank’s overall credit risk exposure is maintained at prudent levels and consistent with the available capital.
• Present risk-related reports to Senior Management, the Board, Regulators and other key stakeholders. Analyze and validate output for accuracy and identify/correct deficiencies as warranted.
• Develop new reporting and enhance existing reporting and presentation formats. Support analysis of various dimensions of various credit portfolios and validating numerous credit risk model performance.
• Track and report performance of risk strategies including: credit line management, authorizations, early warning signals and re-issue. Develop recommendations for new acquisitions and account management programs, including profitability, pricing, delinquency, and loss forecast. Evaluate and implement internal and external credit scoring using both traditional and other advanced technologies.

Major Responsibilities – Market Risk

• Responsible to assist in design, development, implementation & maintenance of market risk management strategies, policies and procedures to support bank wide Risk Management (ERM).
• Responsible to assist for identifying, measuring, monitoring and recommending mitigate strategies on account of market & liquidity risks. It includes development of assessment and monitoring tools to ensure that bank’s overall market & liquidity risk exposures are maintained at prudent levels and consistent with the available capital.
• Produce regularly scheduled (monthly, quarterly, etc) management reports for Senior Management, the Board, Regulators and other key stakeholders. Analyze and validate output for accuracy and identify/correct deficiencies as warranted.
• Develop new reporting and enhance existing reporting and presentation formats. Support analysis of various dimensions of market & liquidity risk factors and validating numerous risk models performance. Keep abreast with advances in market & liquidity risk management,
• To support ALCO, monitor the treasury transactions on an ongoing basis that all transactions are made accordingly with the risk limits provided by Senior Management and follow-up/ Report on policy/ limits exception.

Major Responsibilities – Operational Risk

• Responsible to assist in design, development, implementation of operational risk management strategies, policies and procedures of the Bank encompassing Branchless Banking & Traditional Banking to support bank-wide Risk Management (ERM).
• Responsible to assist in identifying, measuring, monitoring and recommending mitigate strategies on account of Operational Risk. Analyze operational results of operational processes, people and systems & external events and provide recommendations. Gather and analyze relevant economic data to determine impact on business operations where appropriate.
• Assist in ongoing research and development of risk and performance measurement techniques for the assessment of various operational and functional areas. These may include key performance indicators (KPI), maintaining Loss Database & Risk Registers, risk-adjusted return measures, economic capital approaches and portfolio analysis with in the domain of operational risks.
• Produce regularly scheduled (monthly, quarterly, etc) management reports for Senior Management, Regulators and other key Stakeholders related to Operational Risk. Analyze and validate output for accuracy and identify/correct deficiencies as warranted.
• Develop new reporting and enhance existing reporting and presentation formats. Support analysis of various dimensions of different operating areas and validate operational risk model performance.

Functional Skills / Knowledge Areas:

• Experience of risk management in the financial services industry is essential.
• Banking experience in Risk Management Domain.
• Proven leadership skills.
• Sound communication and interpersonal skills
• Microfinance experience will be an advantage.
• Ability to work under pressure.
• Clear understanding of NBFC’s business and competitive brands.
• Strong stakeholder management.
• Prior experience of managing regulatory compliances including SECP, SBP, FBR etc
• Leadership skills with the ability to delegate, motivate and inspire team members
• Strong sense of accountability and Integrity
• Ability to work with multiple and tight deadlines with a commitment to quality, accuracy and attention to detail
• Strong written and verbal communication skills

Eligibility Criteria

Education:

• Master’s degree or equivalent education with a major in Finance/business administration or related field from a reputable international or Pakistani institution.
• Financial Risk Manager (FRM) or Chartered Financial Analyst (CFA) certification will be a plus

Work experience:

• Minimum 12 years of relevant experience in the financial industry with at least 8 years in heading a risk and compliance department of financial institutions (SME, Commercial banks and NBFCs)
• Experience of Risk Assessment in the SME industry will be an added advantage.

Candidates can email their resume and cover letter to careers.parwaaz@karandaaz.com.pk clearly mentioning the position title in the subject line. The deadline for applications is 22^nd November, 2020.

Parwaaz Financial Services will be an equal opportunity employer. Women and people with disabilities are encouraged to apply. Market competitive remuneration and benefits will be offered.

Please note that the recruitment for PFS is managed by Career Pakistan.