Chief Risk Officer or equivalent
Core Competencies
The Chief Risk Officer/Head of Risk Management should have:
(a) A clear understanding of the role and responsibilities associated with the position;(b) A good understanding of financial services activity relevant to the licensee and the wider industry and its regulatory environment;(c) The relevant experience and qualifications to fulfill his responsibilities;(d) Strong understanding of risk management practices, prudential risk measures and methodologies, risk analytics, models and reporting;(e) Strong understanding of regulatory standards (e.g., Basel III for banking, Solvency modeling for insurance) and their impact on risk controls;(f) Good knowledge of enterprise-wide risk management process, risk appetite setting, risk limits setting, capital allocation and capital and liquidity management;(g) Experience dealing with risk reporting for the board/committees, prudential and regulatory reporting, risk disclosures in annual reports;(h) Good knowledge of some of key risk management areas – credit, market, operational, capital adequacy management, (underwriting and reinsurance risks for insurance) etc;(i) Good understanding of data flows and financial reporting practices and conventions;(j) Familiar with asset and liability and portfolio management and allocation;(k) Good knowledge of valuation practices for different classes of assets;(l) Good understanding of the stress testing principles and practices; and(m) Deep understanding of the competencies required within the risk function to manage all risk activities.Added: March 2025Experience and Qualifications
(a) A minimum experience of 5 to 7 years in risk management function; and(b) Hold a relevant academic/professional qualification which include, but are not limited to:
(i) Financial Risk Manager (FRM);(ii) Professional Risk Manager (PRM);(iii) Chartered Financial Analyst (CFA);(iv) Associate in Risk Management (ARM), The Institutes Knowledge Group;(v) Professional qualification in actuarial sciences.Added: March 2025