Chief Risk Officer
Reporting to the Chief Executive Officer (“CEO”) of the Cayman Islands Monetary Authority (“CIMA”, the “Authority”), the purpose of the Chief Risk Officer (“CRO”) post is to assist the Chief Executive Officer and the Board of Directors to establish and implement an effective Enterprise Risk Management (ERM) framework within the Authority. In this role, the Chief Risk Officer’s deliverables will be determined by the Chief Executive Officer and also by the priorities of the Risk Committee of the Board (RCB).
As the key advisor on risk management to the Chief Executive Officer, RCB and ultimately the Board of Directors, the Chief Risk Officer provides advice, direction, coordination and support to the Chief Executive Officer, Senior Management and the Board on all aspects of ERM.The Chief Risk Officer operates independently of CIMA’s Divisions and is accountable for implementing the approved Risk Management Framework of the Authority, including establishing and monitoring adherence to risk policies and guidelines and reporting to the Managing Director and the Board, via the RCB.
RESPONSIBILITIES:
The successful candidate will:
• Facilitate and coordinate the overall risk management approach by working closely with SeniorManagement, the Managing Director and the RCB to develop and implement an effective ERMframework and methodology for identifying and assessing risks across the Authority;
• Identify, develop, implement and maintain suitable risk management tools to facilitate datacollection and reporting of all operational and strategic risks across the Authority;
• Undertake continuous reviews of risk management activities to ensure that the framework isimplemented effectively within divisions and risk mitigation action plans are being implementedas agreed;
• Provide report to the RCB on the progress of ERM implementation, as well as information on new/emerging risk implications, along with actionable plans for mitigation of all threats;
• Periodically review the Authority’s risk management framework including the risk appetite andrisk management policies and make recommendations for improvement, as needed;
• Ensure that systems are in place for the divisions to educate and involve their staff in theidentification and management of risks that are relevant to the Authority and their respectivedivisions;
• Direct, lead and guide the risk officer(s) in implementing the risks management framework;
• Ensure that the risk team/risk officer(s) are provided with adequate and appropriate learning anddevelopment opportunities.
REQUIREMENTS:
• A Bachelor’s Degree in Business Administration, Management, Accounting, Risk Management,Finance or equivalent;
• 8 to 10 years of progressively responsible experience in accounting, finance, financial servicesregulation, internal audit, risk management or strategic planning, 5 of which should be at themiddle to senior management level;
• Should have previous experience working with senior management and boards;• Proven experience in reviewing business processes from an operational and strategic riskperspective;
• A recognized certification in risk management would be an advantage;
• Excellent understanding of and experience in risk management and control frameworks andmethodologies, including risk analysis and risk reporting;
• Strong knowledge of financial services industry and the risks relevant to the regulation of theindustry.
Direct applicants only. Applications received from agencies will not be accepted at this time.
CI $139,590 - $183,831 per annum
(Only shortlisted candidates will be notified)
Application for Employment
Sign up for our E-alerts
Be the first to know about releases and industry news and insights.