Head of Risk

Overall purpose of the role: To maintain a risk management function that operates independently as second line of defence. Ensure effective operation of risk governance and framework within the company. Ensure the risk framework is maintained and updated regularly.

Summary of Functions:

• Responsible for the daily management (identification, measurement, monitoring and control) of all types of risk (credit, market, liquidity, concentration, operational risk etc.), and carry out risk prevention duties effectively.
• Ensure an effective and independent risk management.
• Report to the ACEO (in charge of Risk). Work with the Risk Management Division of the Holding Company regularly on the implementation of group policies and various risk controls, and provide the necessary decision support and advice.
• Responsible for reporting to the board with respect to risk management information, risk policies, appetites and risk recommendations.
• Jointly undertaking functions with the ACEO (in charge of Risk):

• To provide risk-focused advice and information into the setting and individual application of the firm’s remuneration policy.
• To alert the firm’s governing body to and provide challenge on, any business strategy or plans that exceed the firm’s risk appetite and tolerance.

Main Duties of the Role:

• Responsible for the daily operations and human resources allocation of the Risk Management Department.
• Developing and enhancing risk management policies, mechanisms, instructions and procedures; engaging the board and seeking board approval where appropriate.
• Maintaining close and effective communication with the group and in relation to Risk policies update and implementation included attending HO and meetings where required.
• The provision of timely and effective risk management information to the board.
• Setting various risk management indicators and monitoring measures; performing daily over various risk aspects.
• Executing internal control procedures and providing advice and recommendations to management on those procedures.
• Ensuring that the data used by the firm to assess its risks are fit for purpose in terms of quality, quantity and breadth.
• Providing oversight and challenge of the firm's systems and controls in respect of risk management, such as annual ORCA review.
• Providing oversight and validation of the firm's external reporting of risk.
• Providing risk assessment and recommendations over business projects or new products launch.
• Dealing with unexpected major risk events and providing remedial measures; communicate immediately to the senior management and the Risk Management Division of the Holding Company.
• Ensuring the adequacy of risk information, risk analysis and risk training provided to members of the firm's governing body.
• Reporting to the firm's governing body on the firm's risk exposures relative to its risk appetite and tolerance, and the extent to which the risks inherent in any proposed business strategy and plans are consistent with the governing body's risk appetite and tolerance.
• Maintaining and developing margin models for current and new products/markets; maintaining and backtesting liquidity risk model (including stress testing).
• Providing risk input to the ICARA process, such as regular review/update of stress testing, company risk register, reverse stress testing etc.
• Chair Risk Management Committee (RMC), supervising sub-committees such as Credit Committee, Electronic Trading Committee, and Procurement Committee.
• Overseeing the NPA process via RMC.
• Other ad hoc duties as assigned by the senior management.