AVP - Market & Wealth Management Risk

DIB; Dubai; On-site; AED 500,000 - 800,000; Full time

Job summary

Dubai Islamic Bank is seeking a senior risk professional to lead market risk, counterparty credit risk and investment risk oversight within the Group Risk function.

The role requires macro‑economic and external market analysis, development of risk frameworks, and updating policies to align with the bank's Risk Management Framework. A Master’s degree and 12–15 years of relevant experience are expected.

Qualifications

• Masters degree in Finance, Risk Management, Economics or related field.
• 12–15 years of relevant banking experience in Traded Market Risk & CCR with knowledge of Equities, Bonds, Derivatives, Structured Products.

Responsibilities

• Identify, measure, manage and monitor traded market risk, CCR and investment risk.
• Establish and enhance risk management frameworks – policies and procedures related to Market Risk, CCR and Investment Risks.
• Prepare risk sections in ICAAP, ALCO and related risk reports and support risk reporting processes.

Skills

Macro-economic analysis

Market risk knowledge

CCR management

Risk reporting

Stakeholder liaison

Leadership

Training and coaching

IT project work

Education

Master's degree in Finance / Risk Management / Economics

Tools

Risk management tools

MTM systems

Job description

This role is primarily responsible for identification, measurement, management, monitoring and reporting of Market risk, Counterparty Credit Risk and Investment Risks and to broadly align with Risk Management Framework of Dubai Islamic Bank. The role will also be responsible for Risk Management oversight related to Wealth Management.

A key part of the role will be to conduct Macro-economic and External Market Analysis and provide an update on key emerging risks. The incumbent will also be responsible for Implementation of different tools and systems to be used for measurement of Market Risk & Counterparty Credit risk for derivative products. Incumbent to act as a back-up resource for Liquidity, PRRBB and other risk monitoring activities

Key Responsibilities

• Identify, Measure, Manage and Monitor
• Traded Market Risk.
• Counterparty credit Risk.
• Investment Risk.
• Risk Management oversight related to Wealth Management Function.

Act as a key Group Risk Subject Matter Expert in Market Risk, Counterparty Credit Risk and Investment Risks and support Head of Market and Liquidity Risk in risk management and risk oversight role related to these risks. Establish and enhance risk management frameworks – policies and procedures related to Market Risk, Counterparty Credit Risk and Investment Risks. Update all related SOPs. Support the back-testing and stress-testing processes and perform other analyses where required. Maintain key portfolio and risk records for Sukuks/Fixed Income Portfolio and Derivatives.

• Liaise with internal Business Units in particular Treasury, Business Functions, Finance and Operations to provide 2nd line support role and risk management views related to the above-mentioned risks. Assist in preparation of relevant risk sections in RMC, ALCO, BRCGC packs and other interna and external risk reports. Provide oversight over relevant risk management activities in the Group’s Subsidiaries, Associates and other international entities.
• Daily generation and distribution of risk reports related to the above-mentioned risk types to the management as appropriate a manage treasury middle office (“TMO”) activities. Liaise with internal / external auditors and regulators where appropriate. Contribute to relevant sections of the ICAAP process and collaborate with ICAAP Team for preparation of both regulatory and internal risk metrics including FRTB risk metrics. Support the Head of Market & Liquidity Risk to ensure compliance with Group Compliance Policies, Accounting and Operating Procedures and Codes. Support the Head of Market & Liquidity Risk to review and analyze key exposures, limits and their utilization in view of prevailing market conditions.
• Conduct extensive Macro-economic and Market analysis and present and report key risks and key metrics for Senior Management’s review. Monitor Group’s Strategic and Structural FX NOP position. Monitor, analyze and report key changes with the help of Finance team and report to Senior Management.
• Act as a back up resource for AVP - PRRBB, Liquidity and FTP Risk in case of need and/or during leaves and trainings.
• Ensure implementing Risk Management framework and policies within the Bank with particular focus on Market Risk and CCR.Ensure compliance with SCA requirements on risk management activities as assigned by line manager including successful completion of trainings.Update and Maintain Model management documents, standards, operating policies and SOPs for all Market and CCR models. Ensure compliance with MMSG and MRMV Team’s communicated deadlines.
• .Review of Product Programs (PPG) from the perspective of Market Risk and CCR of the Bank. Ensure compliance with Dubai Islamic Bank Group Compliance Policies and Accounting Procedures and Codes. Ensure the Risk Management Framework for Derivative products is consistently applied with regard to Derivatives business in Dubai Islamic Bank. Monitor all risk exposures related to Derivatives against approved limits, including investigating and reporting any excess for approval by the relevant authorities on a timely basis including daily MTM reporting, investigation of differences against external/third party valuations, investigation of Margin calls and reporting of limit excesses. Support the MTM process by ensuring that the MTM sources are updated and reflective of market rates/prices.
• Coach, train and develop team member skills by identifying training needs and assign appropriate learning platform to the team. Review team member performance and deliverables in line with the approved KPI’s to ensure meeting desired objectives.
• Work on IT projects related to Derivatives, Market Risk and CCR Management systems. Using the latest risk management tools for controlling the banks market, Counterparty credit and liquidity risk.

Job Complexity

• Ability to use risk measurement tools & to validate the measurements.
• Ability to advise & formulate Market risk, CCR management policy & procedures.
• Ability to convey complex issues and solutions in a clear and understandable way.
• Ability to liaise with internal/external stakeholders efficiently and effectively.
• Ability to lead and manage performance of team member/members.
• Ability to Identify and define problems and draw valid and effective solutions.

Education

Masters degree, preferably in relevant subject (i.e. Finance, Risk Management, Mathematics, Economics, etc.)

Any Globally recognized certification would be an added advantage (e.g. CFA / FRM)

Work Experience

Minimum 12 - 15 years of relevant banking experience in Traded Market Risk & Counterparty Credit Risk (“CCR”)), Investment Risk with detailed product knowledge of Equities, Bonds, Derivatives, Structured Products etc., Wealth Management and Funds Management as well. Incumbent should be well aware of Treasury Practices and Procedures.

Market Risk and Counterparty Credit Risk Management.

Asset Liability Risk Management.

Wealth Management and Funds Management.

Banking Products, Services and Operations Knowledge.

Economic Analysis

Financial Modeling and Analysis

Internal Capital Adequacy Assessment Process (ICAAP) and Reporting