Overview
Job Title: Head of Risk Control Unit
Job location: Head Office NBC, Dar es Salaam
National Bank of Commerce (NBC)
With more than 50 years of experience, NBC is Tanzania’s oldest bank still in operation. We provide a variety of wealth management, retail, business, corporate, and investment banking products and services.
Summary of Work:
To oversee the development, leadership, and management of the risk control unit in order to optimize team and individual performance and preserve a strong framework for risk controls during the post-authorization fulfillment processes for the commercial banking portfolio.
Job Description:
30% of team leadership
Accountabilities:
- Oversee the Risk Control Unit’s people and overall performance agenda.
- Encourage hiring so that the caliber of each new hire raises the caliber of the RCU pool as a whole.
- Keep a close eye on team members who have been designated as talent. Make sure each of them has well-defined plans that will expedite their growth and maximize the benefits of their deployment for NBC.
- Make sure the RCU has comprehensive and thorough succession plans, and that these are utilized to create measures that guarantee adequate bench strength and the right individuals in the right positions.
- Determine and lead training and development programs to guarantee that RCU employees’ skills are always being enhanced.
- In order to make sure that employees are happy with their team, the RCU, and NBC, drive EOS action plans.
- To ensure that business objectives are met, create a highly motivated team and maintain outstanding relationships with both other teams and your own.
- To increase performance and productivity, assist in determining the training needs of each member of the Risk Control Unit (RCU) and offer coaching.
- Set an example for the team and encourage the proactive implementation of NBC Behaviors.
- To educate team members about RCU protocols, group policies, and regulations.
- Maintain team morale while making ensuring that deliveries are precise and effective. Provide procedures that will enable job rotation within RCU in order to identify and develop team members who will eventually assume leadership positions.
- Actively assist in integrating change management programs to support cost savings, personnel development, and process and quality enhancements.
- Promote and carry out effective change management, which includes ongoing process enhancement.
- Make sure senior management, peers, and the larger company are informed about RCU activities and their significance. Consult with them when business-level policies and procedures are changing.
50% Risk Management
Accountabilities:
- Establish uniform policies and procedures throughout the Risk Control Unit to guarantee the highest standards of Post Sanction Fulfillment, Monitoring, and Control.
- Make sure that the RCU shares best practices and knowledge.
- Accountability for one’s own compliance with loan portfolio controls, governance, and compliance. ensuring one’s own adherence to the rules and guidelines in the specialized lending function, including taking the initiative to handle assigned duties for data integrity.
- To identify gaps or weaknesses in the post-sanction process, collaborate closely with the in-country credit team and the center to gain a thorough understanding of the lending portfolio and risk capabilities. Then, work with the necessary teams to develop plans to fix the gaps.
- Responsible for overseeing and controlling the corporate, ECC, and FI live portfolio to ensure compliance with sanctions terms and conditions and to detect any areas that may raise red flags. communication at all levels of the reporting hierarchy.
- Serve as a resource for technical expertise and a point of contact for the CCMs, CBD/ECC, and RCU for risk-related matters.
- Oversee the upkeep and enhancement of the Portfolio’s administration quality (as specified in the RCU operating manual).
- Continue to communicate with CCMs, CBDs, and ECCs to make sure that any unresolved issues are fixed.
- Review of the Corporate Credit Key Risks every quarter, along with an effective RCA test to mitigate the risks.
- Own and track the accomplishment of predetermined goals for risk performance metrics by the RCU team, implementing corrective action as necessary.
- In charge of fixing and documenting any suggestions resulting from audit/assurance reports on credit risk.
- Efficient handling of the facility limitations (loading, modifying, and canceling) to guarantee that the published restrictions are compliant with the most recent sanction and operational protocols.
- Overseeing the upkeep, examination, and monitoring of an extensive diary system that lists all loan repayment schedules, deficiency and deferral dates, excesses clearance dates, dated securities, and covenants.
- Internal Risk Trigger and Financial Covenant Management keeping an eye on data and systems to ensure that it accurately records, advises, and escalates failures or breaches of covenants that are past due.
- Overseeing the Post Sanction Aide Memoire’s preparation and assessment.
- Communicating with the legal team on modifications to the standard commercial and terms and conditions as well as the non-standard documentation.
- Boost the audits’ quality. serve as the point of contact for auditors, both internal and external.
- Oversee the monitoring of syndicated loans, including interest payments, installment repayment, and terms with participating/agent banks.
- Reviewing and evaluating root causes on a regular basis in connection with RCA testing and taking the necessary steps to reduce risks.
- Make that the maker checker idea is applied consistently to all RCU operations.
- Verify that teams are following NBC’s IRM and data privacy policies.
- Manage the team’s BCM (business continuity plan) and regular testing.
20% of business risk is managed.
Accountabilities:
- Ensure that RCU stakeholders receive consistently high-quality service.
- Assist the Head of Credit Risk in keeping an eye on service delivery and compliance with business requirements.
- Collaborate cooperatively with peers and proactively anticipate, address, and strive to surpass consumers’ expectations.
- Attend meetings with the relationship managers or corporate credit managers to discuss and resolve any problem-related matters.
- Assist the CCD in providing the team’s members with efficient PDs.
- Take part in social events, launches, and team activities.
Job Qualifications:
- An undergraduate degree in finance, accounting, or commerce.
Experience:
- Five years of experience working at a renowned financial company.
- Prior experience working in the risk function for a reputable financial institution in the corporate or commercial sector.
Required knowledge and abilities:
- Proficiency with credit risk management, credit analysis, and controls in commercial banking.
- Strong familiarity with operational risk and rigor procedures, instruments, and methods.
- Demonstrated abilities in team leadership and people management.
- Demonstrated ability to oversee a service operation and balance priorities that frequently clash.
- Proficiency with computers.
- Thorough understanding of risk-related goods, policies, processes, and services as well as corporate business.
- Working familiarity with lending-related local rules.
- Knowledge of the goods and services provided by other banks.
- Proficiency with credit risk management, credit analysis, and controls in commercial banking.
- Strong familiarity with operational risk and rigor procedures, instruments, and methods.
- Demonstrated abilities in team leadership and people management.
- Ability to effectively interact with a variety of stakeholders in sales, risk, and operations is known as “communication and influence.”
- Innovation and change refer to the capacity to identify and seize chances to enhance service quality.
- Leadership is the capacity to manage a large team of employees to make sure everyone does their share to achieve the team’s objectives.
- The capacity to assemble and grow a high-achieving team with a strong bench is known as people capability.
- Problem solving and decision making: the capacity to assess a situation fast and act decisively with support from all relevant parties.
- High standards and controls for quality.
Qualifications:
Business, commerce, and management studies bachelor’s degrees and advanced diplomas, Credit Risk (satisfies all prerequisites), Digital familiarity (needs more work but satisfies some requirements), experience as a junior specialist in a comparable setting, Flexibility (satisfies certain standards but would benefit from additional development), Reasoning (satisfies all criteria)
