Chief Risk Officer at La Fayette Microfinance Bank Limited

La Fayette Microfinance Bank Limited – As an international registered microfinance bank, La Fayette Microfinance Bank offers a complete range of financial services and means of payment for its customers, including savings accounts, current accounts and fixed deposit accounts.

Fully client oriented, La Fayette Microfinance Bank offers great flexibility, independence and financial security to help clients stay committed to their short and long term financial goals. Formally incorporated as La Fayette Microfinance Bank, the bank started full operation in February 2013 and has built a strong client base, serving clients from eight branch networks in Ibadan– Bodija, Challenge, Dugbe, Gbagi and Iwo road, Ogbomosho, Oyo and Saki towns, all strategically situated within close proximity to customers.

Job Description

• The Chief Risk Officer has oversight responsibility for the risk management functions of the company, especially Credit Risk and Operational Risk, ensuring that the risk appetite set by the Board of Directors is respected.

Main Responsibilities

Credit Risk management:

• Supervision of the work on credit risk policies, rules and methodologies; counterpart of Group Risk Management Department on these topics.
• Oversight of credit risk assessment at individual and portfolio level, member of credit committees on high amounts
• Allocation of authorization rights for credit-related decision making to staff in branches and HO
• Monitoring of credit risk development and quality at portfolio level, proposes measures for improvement, prepares credit risk report for the Management Risk Committee (MRC)
• Main counterpart for Business and other departments on credit risk, participates in committees (MRC, arrears, etc), and staff management

Arrears Management and recovery:

• Supervision of the work on defining recovery policies and methodologies. counterpart of Group Risk Management Department on these topics.
• Oversight of pre-litigation and litigation activities managed by the recovery unit, based on recovery KPIs.
• Participation in defining recovery strategies for high amount cases, decision on pre-litigation and litigation cases, in the framework of Arrears Committee

Operational risk management:

• Supervise the design and update of the institution’s risk map and implementation of risk assessment process;
• Supervise the implementation of the New Risk Appraisal process by all process owners, and make sure the Operational Risk teams participate in the new product/service development process from a risk & control perspective;
• Supervise the definition, regular production and analysis of the operational key risk indicators, in order to establish sound operational risks’ oversight and monitoring within the institution;
• Supervise the definition and update of user access rights on key IT systems (Orbit, Sage, etc)
• Supervise the design, implementation and testing of the Business Continuity Planning and crisis management policy of the institution;
• Develop and maintain a framework for the conduct of ex post 2nd line controls within the branches and Head Office Departments on the key risk areas for the institution;
• Monitor, consolidate and report on the different managers’ supervisory control execution and results;
• Supervise the design of internal control activities related to compliance and ensure their proper implementation by his/her team;
• Coordinate with Legal Department on compliance related topics, according to the needs.
• Develop and regularly update a range of reports on all activities of the risk department (operational risk, internal control, credit risk, compliance);
• Prepare and lead the Management Risk Committee, including the preparation of minutes;
• Prepare and participate in the Board Risk Committee, including the preparation of minutes.

Internal Control:

• Develop and maintain a framework for the conduct of ex post 2nd line controls within the branches and Head Office Departments on the key risk areas for the institution;
• Monitor, consolidate and report on the different managers’ supervisory control execution and results;

Compliance:

• Supervise the design of internal control activities related to compliance and ensure their proper implementation by his/her team;
• Coordinate with Legal Department on compliance related topics, according to the needs.

Governance and Reporting:

• Develop and regularly update a range of reports on all activities of the risk department (operational risk, internal control, credit risk, compliance);
• Prepare and lead the Management Risk Committee, including the preparation of minutes;
• Prepare and participate in the Board Risk Committee, including the preparation of minutes.

Education and Experience

Minimum required education level:

• Master’s Degree in Business Administration, Risk management / Audit or any other relevant risk management certification.
• Required experience and skills (work field and number of years)
• Minimum 15 years relevant experience in business and risk management in the NBFI or banking industry with minimum of 8 years of work experience as a manager in a Risk Department.
• Good knowledge in all types of risk management in the financial industry
• Advanced skills in impact analysis and measurement
• Excellent critical thinking and solution-oriented
• Ability to lead staff and be able to develop their skills
• Self starter and result-oriented person.