1. To plan, direct and control the credit risk, market risk and operational risk management policies and activities of KFIC as approved by the
2. To play a leading role in constantly improving the effectiveness of risk management and business continuity planning processes for KFIC
3. To oversee all activities related to Credit Risk, Market Risk, Operational Risk, Financial Risk functions of the Company
4. To maintain relationships with Central Bank of Kuwait, CMA and professional agencies ensuring that all reporting requirements are
Key Responsibilities & Accountabilities:
1. Develop and implement a company-wide 'Risk Management Framework' for KFIC including appropriate risk policies and procedures
to manage the risk profile of KFIC; Ensure that these are in line with the business strategy and vision set by the Vice Chairman & CEO
2. Lead the development and implementation of various analytical risk management models, in order to identify, measure and control
investment risks, operational risks, market risks and FX risk
3. Establish, update and ensure complete compliance in relation to all Risk Management activities.
1. Lead the formulation of strategy, annual business plans, budgets, policies and procedures of the Risk Management Division to
support overall organizational business strategy
2. Review policies and procedures in all risk areas and recommend strengthening of controls to keep in line with industry level practice
3. Report and advise senior management of deficiencies in implementation of Risk Management policies and procedures and
recommend measures to safeguard KFIC's and its clients' interests
4. Establish market risk guidelines in the business, develop and improve risk management systems and processes, and approve
transactions above established limits
5. Set up geographical and sector limits for the investments in line with the Risk Management Framework of KFIC
6. Implement risk standards as per CMA, CBK, ISO31000, COSO and Basel requirements
7. Ensure daily risk management of all major transactions focusing on understanding market risk environments
8. Monitor, report and analyze market risk exposures incurred within the portfolios consisting of assets including credit products, AMs
equities, FX emerging markets, treasury and interest products as well as derivatives and structured products
9. Set and monitor risk limits (in consultation with Top Management) and take action, if necessary
10. Monitor and recommend strategies for debt recovery, non-performing assets and graded accounts
11. Identify, measure and analyze risk using risk measurement tools from several perspectives, such as investment risk, operational risk,
market risk, and management risk
12. Escalate and/or assist in resolving any risk related issues in co-operation with senior management
13. Prepare regular risk reports, including risk analysis of exposures/positions
14. Develop and improve risk management processes, tools and methods
15. Work closely with traders and portfolio management in risk budgeting, portfolio construction and optimization, and recommend
portfolio/hedging strategies and risk mitigation actions which both ensure compliance with risk tolerance and maximize economic
16. Review risk factors in new product launches and product pricing
17. Periodically review economic and political situations and submit management reports on potential risk factors / exposure
18. Maintain liaison with Central Bank of Kuwait authorities, CMA and external auditors on provisioning of accounts in co-ordination with
the Compliance Division of the audit department ensure that all reporting requirements are complied with
19. Network with community resources, initiate and build a strong relationship with commercial banks and investment banks
20. Enhance the security architect function and be responsible for the end-to-end security architecture of applications, technologies and
services in place at KFIC.
21. Give assurance to management, the board and other relevant stakeholders that all systems contain adequate security and controlling
measures and that there is compliance and an appropriate disaster recovery plan in place.
22. Provide advisory services to internal clients to improve governance, risk management, and control processes.
23. Optimize company risk exposure by keeping the overall and portfolio risk within the budgeted limits.
24. Oversee the anti-money laundering operations of KFIC.
25. Conduct performance evaluation of the Risk Management Division.
26. Assist higher management in any other tasks as required by business.
Kuwait Finance & Investment Company
Manager - Risk Management
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1. Monitor performance of direct reportees and guide them in managing their performance by providing appropriate feedback
2. Participate in the identification of training and development initiatives for all employees within the Division
3. Drive the engagement and satisfaction of all employees within the Division through holding periodic meetings to discuss the
achievements and address any employee issues and/or concerns.
4. Establish good relationships with the staff and vendors.
5. Maintain confidentiality of customer information.
Key Interactions and Relationships:
1. Board of Directors
2. Chief Executive Officer
3. Chief Financial Officer
5. All KFIC Departments
2. Auditors (Internal and External)
4. Alliance Partners
5. Business Associate Groups
6. Internal Control Review
Key Performance Indicators Competencies (Knowledge, Skills and Abilities):
1. Risk exposure to the budgeted limit.
2. Consistency, incorporation and execution of risk strategies across
3. Credit rating on the financing advances.
4. Gross non-performing assets (NPAs) / Gross advances ratio.
5. Operation efficiency of Risk Management tools and methodologies.
6. Accurate and timely information availability on current and future
7. Proactive and timely policy guidelines.
8. Internal customer feedback on response time and efficiency.
9. Annual Review of Risk Management Policies & Procedures.
10. Annual Review of Policies & Procedures of all other divisions.
11. Annual update of Risk & Control Self-Assessment.
12. Annual update of Risk Appetite Statement.
13. Risk Management Strategy / Risk Mitigation Plan.
14. Semiannual Risk Report to CMA.
15. Quarterly BCP Testing (including testing @ alternate sites).
16. Review & vetted all contracts.
1. Managing People,
2. Strategic Thinking,
4. Achievement Orientation,
5. Analytical Ability,
6. Communication Skills,
7. Decision-Making Skills,
8. Organizing & Planning Skills,
9. Problem Solving Ability.
Education & Qualifications: Experience:
Bachelor's Degree in Finance, Economics or Law. And any
professional certification i.e. Financial Risk Manager (FRM), Certified
Internal Auditor (CIA) Certification, etc.
A minimum of 6-8 years of relevant experience within Banking or
Financial Services; and at least 2-3 years as a Director in Risk
Language Skill: Computer Skills:
1. Fluent in English
2. Arabic is preferred
MS Office and reporting
Should have Kuwaiti Work Residency It is required to be registered with the Capital Market Authority