EFC Tanzania is a Microfinance Bank that provides financial services i.e. taking deposits and providing loans to micro, small and medium-sized enterprises and individuals. The bank is growing fast with the focus of reaching out to the unbanked business by growing its network throughout Tanzania in the coming years. To accomplish this, the bank needs to recruit Senior Risk Analyst who is competent, analytical, experienced and hardworking individuals determined to go extra mile for their career growth and future.
Position Objectives Responsible for overseeing Management of Risks inherent in Microfinance bank’s operations, also responsible for: Setting strategies for managing Credit, Operational, Market, Compliance and Strategic Risks in the bank. Provide administrative support to ensure that EFC Tanzania is adhering to its Risk Management Policies and Framework and all Central Bank and other compliance reporting / filing requirements. Train/Raise Risk awareness among employees. Facilitate AML activities within the bank. Conduct portfolio quality review for bank’s lending business.
General responsibilities of the Senior Risk Analyst are to provide holistic coordination for;
• Identification of current and emerging risks;
• Evaluate possible ways to mitigate the risk exposures
• Developing risk assessment and measurement systems;
• Monitoring positions against approved risk tolerance limits
• Development and implementation of Risk Compliance Matrix
• Reporting results of risk monitoring to Senior Management and the Board.
• Developing risk tolerance limits for Senior Management and Board approval;
• Establishing Policies, Practices, Frameworks and other control mechanisms to manage risks;
• Conduct Stress testing programme periodically and communicate the results to Management.
• Performance of any other related duties and responsibilities as assigned by the Risk & Compliance Manager.
• Specifically Senior Risk Analyst is responsible for providing leadership in bank’s risk management initiatives at a minimum to the following Major Risk types.
• Manage the Credit Risk to ensure growth of a quality loan portfolio, to define methodologies to ensure that the risks and expenses originated in the bank’s lending operations can be predicted and are acceptable to the business.
• Review the credit portfolio and propose appropriate corrective measures are initiated so as to ensure that overall business plan objectives are met and advise management through timely reports.
• To review Risk reports developed by line managers, analyze and advise Management on Risk perceptions and recommended options to mitigate risks.
• Coordinate the generation and analysis of the Risk Management Reports (Net flow / trend analysis, sectorial report, vintage analysis, early payment defaults, and leading indicators report)
• Establish evaluation tools for the credit operations, informing the responsible staff the risks identified, and proposing corrective alternatives.
• Conduct reviews of the bank’s loan portfolio and recommend appropriate interventions to ensure it performs in line with approved performance indicators and targets.
• Review and contribute to the enhancement of the credit policy and procedures for the bank to ensure that this is aligned with current business and statutory requirements.
• Manage the performance of subordinate staff and develop and implement training and development plans to ensure their performance is aligned with business goals and objectives.
• Review credits approved with exceptions to credit policies, assessing that all the policies and procedures to grant the exception are within acceptable practices.
• Perform independent review of Credit Processes to determine adequacy and effectiveness of credit risk management practices.
• Provide advice to departments involved in credit operations on any issue that requires their attention to mitigate credit risk.
• Daily and monthly monitoring of credit risk indicators and reporting to management and Board when the risk is moderate to high ranking with advice on how to mitigate it.
• To assess and interpret the operational risks of the bank
• Report operational risk assessments and trends to management and to the Board of Directors
• Ensure appropriate risk improvement strategies and initiatives such as process engineering are in place to address operational risks as required.
• Establish the bank operational risk management framework (Value Chain process Model, product dimension, operational risk universe, control universe)
• Ensure additional operational risks and controls are added to the operational risk and control universes on an on-going basis.
• Assess risks in new products, conduct periodic reviews on Operational Risk controls; submit review reports and follow-up with the business for timely closure of any identified risks/issues.
• Develop strategies to measure risks by identifying key indicators and ratios that can be tracked and analyzed regularly to assess exposure to risk in each area of operations. Set the acceptable range for each indicator, outside of which would indicate excessive risk exposure, determines the frequency with which each indicator should be monitored and analyzed.
Market Risk (Including Liquidity Risk)
• Coordinate and perform daily risk management activities, and ensure the bank is in compliance with legal and regulatory requirements for Treasury operations.
• Responsible for putting in place tools for daily risk management (Risk measurement, Risk assessment, Limit monitoring, Risk control, and Risk reporting) for Liquidity, Counterparty/Credit, Market, and Currency risk.
• Ensuring that all relevant market risks of the bank are identified, well understood, and adequately measured and assessed.
• The monitoring of the use of risk limits and ensuring that quantifiable risks are within the structure of approved limits.
• The production and analysis of daily management reports based on the output of the bank’s internal market risk models used in risk measurement and assessment, which includes the evaluation of the relationship between measures of market risk exposures (e.g. stress tests) and trading limits.
• The prompt reporting of market risk exposures to the senior management, as well as alerting the board and the senior management to any other matters that may have a significant impact on the bank’s financial position and risk profile.
• Ensuring that the bank’s market risk management framework, and all related policies and control procedures, are adequately implemented and complied with.
• The active involvement at an early stage, in the bank’s decision-making on business strategies and development of new products that may have implication for market risk management.
• Analyze the participation of the Bank in operations and activities related with the business strategy, in accordance with legal requirements, business norms and internal policies, seeking its compliance with the process of Risk Management.
• Conduct a gap analysis of the bank’s compliance to laws and regulations governing banking operations in Tanzania.
• Prepare Risk Management Plans for bank’s compliance to country laws and legislations, and internal procedures and policies.
• Conduct Independent Reviews/checks to business units to check their compliance with Internal and external regulations.
• Coordinate regular review of the bank’s Compliance policy
• Coordinate development and review of the Strategic policy, procedures and limits
• Coordinate identification, measurement, and monitoring of strategic risk
Qualifications & Requirements (i.e. education, skills and experience)
The Senior Risk Analyst requires good practical knowledge of Microfinance Bank best practices, corporate governance and Central Bank / other applicable regulatory body regulations and laws together with the foresight to see how the intricate day-to-day compliance activities link with and support the achievement of the vision and mission of the EFC.
In this regard, specific qualifications and requirements include:
• At minimum a Bachelor’s Degree in Risk Management, finance, accounting, economics, law or business;
• At least two to five years of relevant experience in a bank or financial institution;
• Good report writing, documentation and presentation skills;
• Attention to detail and accuracy;
• Ability to meet deadlines for numerous compliance report / filing requirements;
• Ability to relate effectively across different levels of authority;
• Strong analytical, written/verbal communication, interpersonal, and relationship building skills;
• Effective team player;
• Strong computer skills (Word, Excel, Power Point, Spreadsheet, etc.).
Interested candidates are requested to submit a letter of interest detailing their motivation for the position applied for together with their Curriculum Vitae, three professional references and copies of academic Certificates/Diplomas/Degree and others
Closing Date is 08th December 2017. The letters should be addressed to:
Human Resources Department,
EFC Tanzania Microfinance Bank Limited,
8th Floor, Tanzanite Park, 38 New Bagamoyo Road,
P.O. Box 11735, Dar es Salaam, Tanzania.
Only short listed candidates will be contacted for interview.