VFD Group is an alternative financial services holding company that creates value by working within Nigeria’s informal financial sector to create innovative products and solutions that are accessible to the everyday Nigerian. VFD Group was founded by highly skilled professionals with diverse experiences, qualifications and professional backgrounds, who identified the gap between individuals and small businesses and their banking experiences, and set out to bridge the divide.
Job Title: ERM / Market Risk Officer
Job Type: Full Time
Qualification: BA/BSc/HND , MBA/MSc/MA
Experience: 4 years
Job Field: Finance / Accounting / Audit
Supervises: Other Risk Officer(s)
- Responsible for implementing Enterprise Risk Management with key focus on Market and Financial Risk within the Group
- Operates within the GRC (Governance, Risk and Compliance) Group Directorate
- Executive Director (ED), GRC
- Head, Risk Management & Compliance.
- Responsible for Market and Financial Risk Management
- Assist with the implementation of the ERM Framework within the Group and Subsidiaries
- Business Continuity Management (BCM)
- Good understanding of Credit and Operational Risk
- Manage Asset and Liability Risk of the Group and Subsidiaries in an efficient and forward-looking manner
- Manage the Financial and Liquidity Risk position of the Group and Subsidiary through efficient cashflow planning
- Prepare weekly and monthly cashflow projections with inputs from all subs for adequate liquidity planning and cash allocation.
- Develop standard statistical methodology and models to conduct market and financial risk measurement and valuation for the treasury positions
- Advice and support the GRC Directorate on the impact of MPC decisions and Circulars issued by regulators.
- Oversee the limit monitoring and escalation of breaches for conclusive resolution.
- Supervise and ensure timely submission of the directorate presentation for ALCO and Board meeting.
- Keep the Group abreast of developments in the global financial market and potential Market risk.
- Develop and assign Treasury / Trading limits attached to products and desks to mitigate liquidity risk and safe-guard risk capital.
- Develop standard reporting templates, dash boards to be utilized by the Group.
- Provision of overall leadership and direction to the Market, Financial and Liquidity Risk Team.
- Ensure continuous review of procedures and models for the management of market and financial risk within the Group and Subsidiaries
- Effectively supervise the stress test process to ensure the simulation model captures the actual risk faced by the Group
- Daily monitoring of the Treasury Placement limits with counterparties to ensure the GroupТs capital is protected
- Daily monitoring of Net Open position of regulated subsidiaries to ensure compliance with regulatory benchmark
- Review of the balance sheet trend analysis to monitor key performance ratios in terms of liquidity, risk asset exposures, deposit concentration, earnings.
- Conduct regular stress test on the Group and Subsidiaries portfolio using a simulation model to evaluate the potential impact on Capital and Liquidity requirements
- Regular review of Treasury asset position in terms of liquidity. Searchlight on asset concentrations that could increase liquidity risk.
- Prepare periodic Gap analysis report to measure interest and liquidity risk.
- Review of the Contingency funding plan at intervals to ascertain its relevance
- Regularly liaise with Portfolio Reporting & Returns, Finance and IT to identify data required to develop technical process that will comply with regulatory requirements.
- Daily review of Treasury trading blotters- Fixed income and FX
- Daily monitoring of treasury / trading limit to ensure limits are not breached during transactions and also follow-up on exceptional approvals conclusively
- Conduct models variation and first level validation exercises for Market Risk Measurement systems.
- Preparation of ALCO report with Treasury ALM Desk and support in board reporting.
- Regular risk measurements and valuation of Treasury Positions/Products with statistical model e.g. Value at Risk model
- Develop risk models to measure other risk parameters including beta, duration and convexity
- Provide support and training to staff to build risk awareness
- Prepare/compile agreed periodic activity and performance reports for the attention of the ED-GRC, GMD/CEO and relevant Board Committee.
- Perform any other duties as assigned by ED-GRC and Head, Risk Management & Compliance
Key Performance Indicators
- As agreed from time to time
Non -Financial Target:
- Timely and discreet execution of investigations
- Reduced fraud cases
- Reduced number of mitigated risks