Undertakes the responsibility for the establishment of an adequate and effective framework for identifying, monitoring and managing the Firm’s risks & compliance across all its operations.
Duties & Responsibilities
Risk Management Function
Money Laundering Reporting Officer (MLRO)
Constant awareness of the Firm’s risk position and act to prevent problems.
Ensure adherence to the Firm’s risk policy & procedures as well as local guidelines determined by the Central Bank of Bahrain (CBB).
Identify the major sources of business risks in the following categories; Credit risk; Market risk; Liquidity risk; Operational risk;
and any additional categories relevant to its business.
Measure, monitor, and control the identified sources of business risks associated with the Firm’s operations.
Proactively structure solutions to risk issues.
Develop relevant frameworks, metrics and reports for risk analysis of the Firm’s products and portfolios.
Evaluate the effectiveness of the company's internal control framework in addressing risks and accomplishing the company’s goals and objectives.
Provide training sessions and technical support to the Firm and its Board of Directors with regards to risk management, compliance and AML, as necessary.
Timely submit the periodic reports to the CBB, ARGC and Management, as required.
Update ARGC and Management on a quarterly basis on risk management, compliance and AML issues, as appropriate.
Correspond with other departments and provide guidance by interpreting Risk Management policy and provide recommendations with regarding to risk issues.
Maintain professional and technical knowledge by attending educational workshops; reviewing professional publications;
establishing personal networks; participating in professional societies.
Protect the Firm’s privacy by keeping the information and plans confidential.
Perform any other relevant duties as may be required and requested by the Management.
Bachelor’s degree in a relevant subject from a recognized University with any of professional qualifications (i.e ACAMS, FRM, PRM, APRM, CPA or CA).
Other qualification requirements as per the CBB’s rulebook.
10 + years of practical experience in the financial sector.
7+ years of overall combined relevant industry or risk management experience.
Technical knowledge of the CBB’s Risk Management Module.
Stress forecasting understanding of regulatory stress testing (CCAR and DFAST) or financial planning and analysis processes
Regulatory reporting familiar with regulatory reporting, ideally regulatory capital and Basel-related reporting.
Consulting prior experience in a large consultancy firm is a plus
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