Chief Risk Officer

The expectation from the position of the CRO is to be a risk assessor for the Bank. He would be overall incharge of the Risk Management function of the Bank. It is expected that he will be driving the Risk Function from Regulatory/ Monitoring role to an Agile and Insight driven Risk Management Function and to play the role of an advisor to the top Management in the area of Risk Management for the Bank, apart from continuous Risk Monitoring.

He shall be responsible for Implementing and maintaining a sound enterprise wide integrated Risk Management and governance framework encompassing credit, investment, operational, market and compliance risk including measuring and providing quantitative & analytical support to the Business as well as development of a robust Risk Culture in the Bank.

He shall be leading the facilitation, implementation and monitoring of effective risk management practices and ensure operating policies and procedures are complied throughout the Bank. He shall be advocating and supporting the culture of informed risk-taking, heighten awareness and use of advanced risk management practices through training and coaching. Effectively lead & manage the Bank’s team of dedicated risk professionals

He shall arrange for periodic review and reporting of risk profile of the Bank to Risk Committees/ Top Management/ Board and implementation of BASEL guidelines as per RBI directives from time to time.

In addition to the above the Job role of a CRO can be classified in following line of operations of the Bank.

Credit Risk Management:-
• Responsible for bank wide effective credit risk management and its implementation.
• Ensure that there are adequate resources with required skills, experience and qualification.
• Review and approval of results of credit risk management processes before its reporting to CPC and / or Board.
• Ensure that all the reporting is done in a timely and accurate manner.
• Ensure co-ordination between CRM Cell and various other functions / departments in the bank.
• Ensure adequate training to bank employees on areas of credit risk management through workshop, elearning materials, induction and other ongoing training programs.
• Responsible for keeping risk limits, industry/ product/segment/ single loan wise by setting risk appetite. Be responsible for setting of loss limits for portfolios and allocation of capital based on risk return equations.
• Responsible for stress testing of the portfolio in compliance with regulatory requirements for adjusting capital allocations by taking in account various commodity cycles and regional downturns and ensuring that stress testing and capital utilization is embedded in the decision making process.
• Arrange for preparation of Annual Internal capital adequacy Assessment Process (ICAAP) document for the Bank and its continuous refinement.
• Monitor large individual/ group exposures and industry wise / facility wise/ CRA rating wise exposures with reference to RBI prudential norms and in-house substantial limits.
• To arrange for development and periodic validation/ review of Credit Risk Assessment (CRA)/ Scoring models.

Market Risk Management:-
• Translate Market Risk Management framework established by the Board of Directors into specific policies, processes and procedures that can be implemented and verified within the different business units.
• Clearly assign authority, responsibility and reporting relationships to encourage and maintain accountability and ensure that the necessary resources are available to manage market risk effectively.
• Assess the appropriateness of the management oversight process in light of the risks inherent in a business unit’s policy.
• Ensure day-to-day activities are conducted by qualified staff with the necessary expertise, technical capabilities and access to resources and that staff responsible for monitoring and enforcing compliance are independent from the units they oversee.
• Ensure that market risk management policy has been clearly communicated to staff at all levels that deals with market risk.
• Give particular attention to the quality of documentation controls and transaction-handling practices.
• Guide and direct the market risk management team on monitoring of the entire market portfolio, Interest Rate Risk, Equity Price Risk, Risk capital Analysis monitoring derivatives in respect of foreign currencies, country wise limits, counterparty bank limits and stress testing.

Operational Risk Management:-
• Supervise the activities of ORM CELL for the continual implementation of effective operational risk management framework and all its components.
• Review and approval of operational risk related policies and procedures for internal and domestic subsidiaries and overseas territories/ subsidiaries.
• Review and approve the recommendations of the ORM CELL before submission to the Operational Risk Management Committee.
• Assess interrelationships between Operational and other risk types. To facilitate the analysis of risks and interrelationships of risks across market, credit and operational risks.
• Assure that line and executive management maintain an ongoing understanding of operational risks and participate in related risk management activities.
• Ensure that operational risk management cell is appropriately staffed with requisite level of qualification, experience and skills.
• To conduct meeting of Product and Process Approval Committee (PPAC) for approval of new / modification in product, process and systems and place the agenda before the respective committee as under for confirmation of the approval by Product and Process Approval Committee.
• To conduct Credit Policy Committee (CPC) for credit risk related products.
• To conduct Asset Liability Management Committee (ALCO) – Market risk related issues including issues related to balance sheet management.
• Operational Risk Management Committee (ORMC) – For operational risk related issues and where issues other than credit risk and market risk are involved.
• Facilitate the maintenance if risk corporate policies including credit and counterparty risk, market risk, operational risk compliance, security and portfolio valuation, acceptable use, information security, physical security, business continuity planning, and limit breaches and escalation.
• Standardize risk vocabulary to identify common risk, implement process to identify new risk and simulate crisis scenarios for testing BCP for IT etc.
• Engage market research firms for testing market feasibility of new products, and undertaking rigorous testing before signoff on implementation of a system.
• Oversee and manage Anti- Money laundering/ Counter Terrorist Financing control activity in all relevant business areas for the purpose of establishing a reasonable threshold level of control consistency.
• Manage and oversee the IT security Risk in the Bank by monitoring and reporting of events, conduct analysis, advise and take steps to mitigate the risk and strengthen the IT infrastructure of the Bank.
• Ensuring that RMC meetings of the Board are organized as per the scheduled periodicity

Liquidity & Interest Rate Risk Management:-
• CRO would oversee the global liquidity position of the entire group of the parent entity, Bank of Baroda.
• Supervise the activities of ALM Cell for the continual implementation of the effective liquidity risk management framework and all of its components.
• Review and approval of Asset Liability Management Policy
• Review and approval of the recommendations of the ALM Cell before submission to ALCO.
• Assess interrelationships between market risk and other risk types. To facilitate the analysis of risks and interrelationships of risks across market, credit and operational risks.
• Ensure that line and executive management maintain an ongoing understanding of liquidity and interest rate risks and participate in related risk management activities.
• Ensure that ALM Cell is appropriately staffed with requisite level of qualification, experience and skills. Any other roles and responsibilities that may be designated by Corporate ALCO/ RMCB/MD&CEO/ Board

Education Qualification:
• Mandatory: Financial Risk Management from GARP,

Or
• Professional Risk Management Certification from PRIMA Institute,

Or
• Two Years as CRO in such regulated lender(s) in respect of which there is regulatory requirement of appointing CRO with Board Approval.
• Desirable qualification: CFA/ CA/ ICWA/CMA or Equivalent from Abroad

Work Experience:
• Mandatory:

Minimum -25- years of experience in Bank / Financial Sector of which at least Seven (-7-) to Ten (10) years should have been in Risk Function. Additionally, the candidate should have been in the Chief Risk Officer / Head of Risk Position for a Bank / Financial Institution for at least three (-3-) years.
• Additional Experience:

The candidate should possess work experience in the following areas of Risk Management:
• Hands on implementation of Risk Guidelines.
• Handling regulatory and internal audit inspections.
• Dealing with international regulators
• Desirable Experience:

Good understanding of market risk and/ or liquidity management and / or operational risk, with exposure to analytics being an added desirable experience.

The details shared here are for quick reference only. For more details, T&C, and to apply for the Job please refer to the career section of the Bank's website or click here: - https://www.bankofbaroda.in/career/current-opportunities/recruitment-of-four-experienced-specialist-cadre-professionals-08-08

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