Enterprise Risk Manager, Risk Identification & Materiality Specialist

Functional Description

The Enterprise Risk Management (ERM) function is embedded within the Risk and Compliance organisation and is responsible for establishing and maintaining the company’s overall risk management and risk governance framework. The team is responsible for ensuring that risk management activities are being conducted in a manner compliant with regulatory requirements and expectations. The team aggregates and reports on key risk management and oversight activities to the Senior Management and Committees.

ERM department is responsible for formalizing the Risk taxonomy, Risk identification, Emerging Risk scanner, Risk Materiality assessment. The outcome of which is consumed for Risk Management Framework and strategic processes like Risk Appetite, SREP, ICAAP/ILAAP, Stress Test and Regulatory Disclosures.

At Ayvens, you’ll be recognized for your contributions, leadership, and impact — every colleague has the opportunity to learn and grow as we help you create a career journey that’s unique and meaningful to you.

Scope and job summary

The position of Enterprise Risk Manager – Risk identification and Materiality Specialist will report to the Head of Enterprise Risk Management and work closely with Senior Enterprise Risk Managers for the deliverables.

The incumbent will be responsible for supporting the enterprise-wide risk identification and aggregation program, including but not limited to defining the identification criteria, emerging risk scanner, identifying the risk universe, establishing a quantitative materiality framework for the assessment of these risks (i.e. strategic, financial and non-financial), and the aggregation/reporting based on the established risk taxonomy.

The role requires strong knowledge and experience of risk identification & risk assessment process preferably in a regulated financial/banking institution, as well as with an ability to work with teams across the organization.

Key Responsibilities

·         Support in establishing a risk identification framework including defining a standardized risk taxonomy that can be cascaded and consistently linked with other enterprise-wide risk and controls frameworks.

·         Assess various materiality criteria for establishing a consistent risk universe and support the capital planning scenario design process as appropriate.

·         Support the risk assessment of Ayvens’ risk taxonomy including the assessment factors (inherent and residual risk, likelihood and impact scales, ESG, reputation, etc.) and assess emerging risks.

·         Creation and publication of risk related reporting to the senior leadership and committees and support engagement with regulatory bodies related to the risk identification and assessment processes.

·         Design of strategic scenarios for Stress Tests, over all risks that the entity is exposed to.

·         Conduct studies (regulation changes, benchmarks), and other ah-hoc assignments and trainings with the support from Senior Enterprise Risk Managers.

·         Utilize quantitative and qualitative analysis techniques to assess risk scenarios and probabilities.

·         Support in developing Risk appetite and Key Risk indicators for the respective material risk areas.

·         Work on alignment between risk identification process and strategic processes (RAS, ICAAP, ST, etc.)

·         Experience in ESG risk assessment and understanding of ESG principles & frameworks is preferred.