Summary The role holder will be responsible for developing and maintaining all Infra's risk related models including calibrating risk models to ECL, determining staging criteria and overall monitoring and reporting of the Fund’s risk appetite metrics. The role holder will also be responsible for capital allocation models and working on determining adequate compensation for risk and cost of capital as well as working with internal stakeholders to develop ESG scores and quantifying the social benefits accrued through Infra's financing activities. Key Responsibilities & Accountabilities Strategic Responsibilities:Lead the development of the Enterprise Risk, Risk Analytics, Modelling and Reporting strategy, ensuring its alignment with Infra’s mandate and broader objectives. Ensure that the overall strategy is translated into annual operational business plans for the Enterprise Risk, Risk Analytics, Modelling and Reporting division and the performance is monitored annually to ensure business plans are in line with the overall strategy. Define an optimum organization structure and direct the development of divisional structures so that resources are optimally utilized, and communication can take place in an efficient manner. Direct the preparation and consolidation of the Enterprise Risk, Risk Analytics, Modelling and Reporting division budgets and monitor financial performance versus the budget so that the business is aware of anticipated costs/revenues, areas of unsatisfactory performance, and potential performance improvement opportunities are capitalized upon. Ensure effective and continuous performance monitoring for respective departments so that Infra is aware of anticipated challenges and potential performance improvement opportunities are identified.
Core Responsibilities:Risk Analytics and Modelling: Oversee the revision of financial modelling for all Infra transactions including validating external models, exploring the use of external data, and using custom-made modelling tools for certain classes of customers. Provide regular updates to Chief Risk Officer key model performance parameters. Ensure the development of ESG screens and assessment of socio-economic benefits associated with all potential investments. Oversee the establishment of risk modeling tools and methodology, risk rating system for the fund, probability of default, risk aggregation and econometric models, and lead the conducting of stress/scenario analysis and portfolio management and monitor the group’s capital adequacy and liquidity positions in accord with Infra’s business strategies. Develop a thorough measurement, stress testing, and reporting process that caters to the monitoring and reporting of major risks, providing a proper risk profiling of the different investment portfolios and/or exposures to assist management in determining risk cost in downturn scenarios. Liaise with Investment and Credit teams to develop and review model performance, assumptions, theory and empirical evidence and propose required changes and alternative analytics techniques to senior management in order to implement improved Credit Risk Models aligned with regulatory requirements. Build and enhance statistical models to predict outcomes for other risk functions in the fund, ensuring all models are regularly updated and calibrated to the most recent default rates. Provide advice to relevant stakeholders on key risk identifiers, credit infrastructure, data sampling processes for new products and improvements to Basel Risk Policy Framework to minimize losses, preserve asset quality and implement model policy. Ensure appropriate risk models are utilized to evaluate ECL based on IFRS and are deployed to quantify capital consumption with key focus on Basel IV requirements. Supervise and lead development of macroeconomic overlays for PD models. Adequate documentation with regards to model development, validation, implementation, and monitoring is maintained. Build and maintain a strong relationship with key internal stakeholders across the business, investment, and finance functions to support their risk modeling requirements. Review and monitor risk appetite measures; suggest changes to the risk appetite metrics and improve the risk appetite dashboard. Support in the development and maintenance of the risk appetite framework for Infra . Evaluate the fund’s risk profile relative to Infra’s overall risk appetite and make recommendations to accept, reject or mitigate risk or amend the risk appetite to control the risk and/or improve the risk-return performance of the fund. Conduct regulatory capital computation analysis, report the underlying risks (credit risks, operational risks, market risks, etc.) and develop the compliance reports in accordance with Basel requirements. Provide inputs on the performance of Infra’s credit portfolio on a risk adjusted basis, including attribution of capital to all Pillar 1 and Pillar 2 risks in line with the Basel framework. Manage the development and implementation of Infra’s market valuation and risk models to ensure effective assessment and management of market risks within the established risk levels.
Risk Culture: Lead and direct the establishment of a culture of intelligent risk-taking; heighten awareness and use of advanced risk management practices through educational programs, training process and personal mentoring with senior executives, business unit management and general staff. Remain abreast of emerging risks modelling techniques and industry trends and provide insights to the executive management team on the same.
Risk Reporting:Review the risk reporting for Infra to ensure timely development of reports in accord with business and statutory requirements. Develop, maintain, and continuously improve the MIS reporting strategy, frameworks and limits/tolerances in line with Infra’s overall risk while ensuring effective implementation of same in liaison with relevant stakeholders to support effective management of Infra operations within the defined risk levels. Lead the generation of risk reports for other external stakeholders (including investors, rating agencies, etc.) and for regulatory across the Infra to ensure adherence to established reporting guidelines. Develop the effective review, analysis and consolidation of information policy to create relevant risk reports in accord with defined standards and policies. Oversee the development of risk reports for Infra’s board of directors and ensure mitigation plan is identified to support decision making. Support all internal and external audit activities relating to risk modeling and IFRS 9, ensuring timely submission of all documents and reports required.
People Management Responsibilities:Work closely with People and Culture department to define key performance indicators for all direct reports and complete all the required activities for performance management. Work closely with People and Culture department to identify and submit development needs for all direct reports and complete all the required activities for talent development management. Qualifications:Bachelor of computer science, statistics or equivalent. Master in Statistics, Math, or Computer Science is preferred. FRM certifications is preferable. Experience:Minimum of 10 years of professional experience in model development, model validation, and model monitoring with at least 5 years of managerial responsibilities. Proven risk management experience with excellent communication and articulation skills. Experienced in data science and analytics leadership role in highly competitive environments; highly organized, structured and detailed oriented. A good command over corporate risk portfolios with fair amount of experience in supervising model developments for project finance . Experienced in using statistical software such SAS and SPSS. Experienced in using decision tree tools. Excellent excel and Power Point skills. Fluency in English is required, fluency in Arabic is preferred.