Responsibilities:

The Chief Risk Officer is responsible for the overall risk control functions of Netbank. This will involve oversight of:

Identifying the key risk exposures (e.g. market risk, liquidity risk, credit risk, technology risk, operational risk, compliance risk, etc.) and assessing and measuring the extent of risk exposures of the bank and its operations
Monitoring the risk exposures and determining the corresponding capital requirement in accordance with the Basel capital adequacy framework and based on the bank’s internal capital adequacy assessment on an on-going basis
Independent Risk Management

Review of client approval documents provided by partner facing teams
Review of AML policies defined by partner facing teams
Input into credit risk management processes

Drafting, reviewing and revising the Risk Management manuals to cope with the current developments of risk disciplines in the industry
Board reporting

Secretariat to the Risk Committee, Audit and Compliance Committee
Reporting on a regular basis to senior management and to the board of directors of the results of assessment and monitoring

Netbank’s differentiation is its ability to implement a partnership based business model, in a simple and client friendly manner. This requires Netbank to continuously ‘re-think’ the standard risk and compliance approaches, so as to re-design them for a partnership based business model. The holder of this position will succeed based on his / her ability to:

Deeply understand the regulatory requirements and understand what specifically will be required to implement these requirements in the case of a partnership based bank.
Creatively find solutions
Understand the practical implications of policies and identify solutions which meet regulatory requirements yet also meet the requirements of Netbank clients.

As per regulation, this position will report directly to the independent Risk and Audit / Compliance Committees/ BOD. The position will be independent of the Management but will work closely with the Head of Operations / CEO in the implementation of the responsibilities.

Metrics to monitor

BSP assessment of Netbank’s performance (BSP rating)
Feedback from partner facing teams

Required skills and qualifications

This position requires expertise in control functions, while also understanding the implications of these functions on business operations to ensure the functions are implemented in a client friendly manner.

The specific areas of expertise seen in the candidate will include:

Experience of credit risk analytics, or deep experience in risk functions in a regulated bank
Expertise of BSP regulations in Risk Management areas
Mathematical analysis experience
Clear and concise writing
Definition of risk management processes, including

Operational risk reviews
Market and liquidity risk
IT risk management

Leadership of risk functions

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