Head of Risk Management and Compliance

FINCA Impact Finance believes all people should have the opportunity to leverage their wisdom, talent and effort to determine their own destiny. Our worldwide network of full-service banks and microfinance institutions are grounded in the conviction that inclusive finance is critical to bringing people out of poverty. FINCA sets standards for the microfinance industry, constantly innovating and developing new products and services that help our customers achieve their dreams. Millions of entrepreneurs rely on FINCA's commitment to customer protection and an unmatched customer experience to build a better future for themselves, their families, and their communities.

FINCA Impact Finance's global network of microfinance institutions and banks provides responsible financial services and enables low-income entrepreneurs and small business owners to invest in their future. With 40 years of experience and a mostly local staff of nearly 5,000, FINCA delivers a double bottom line of social impact and profitability. We hire people from a wide variety of backgrounds at all career stages to fully connect with our customers and strengthen the institution. FINCA expects employees to personify our values of transparency, active listening, accountability, and respect. Successful candidates will embrace our brand attributes of warmth, trust, and responsible banking, and possess a commitment to collaboration, service, and inclusivity.

Job Summary

The major purposes of the role are to establish, implement and enforce a robust risk management framework and systems (policies, processes, and tools) covering key risks families as defined by FINCA's Risk Appetite and Tolerance Limit framework that aligns to Central Bank guideline on Risk Management framework. The Head of Risk Management assists Management to create and maintain a sound risk and internal control environment and within the agreed risk appetite determined by Management Board and approved by Board of Directors. S/he will assist Management to improve the overall performance and activities of the FINCA subsidiary, and in making decisions on the issues of risk identification, analysis, mitigation, and prevention. Working within the framework of the subsidiary's regulatory requirements and in coordination with functional heads, the Head of Risk Management will manage and monitor control activities and recommend corrective actions to remediate identified control deficiencies. S/he will also develop work plans in coordination with Management that are aligned with the subsidiary's strategic and operational objectives and any requirements of external governance bodies.

Essential Duties

Specific duties and responsibilities include but are not limited to:

• Promote and continuously improve Risk culture in the organization, Support Management to develop the Risk Appetite framework, Monitor and analyse external and internal events to understand and assess the overall Risk profile adequately,
• Support business in developing appropriate Risk Management strategies/tools and disseminating appropriate risk management practices in line with developments in the market/industry, laws, regulations, etc,
• Overseeing and enforcing risk management policies and established risk limits to close significant gaps in risk management capabilities (policy monitoring),
• Conduct analysis of operations of the subsidiary to identify risks and make recommendations for preventive actions,
• Timely investigation, analysis, and reporting of compliance issues and/or instances of fraud which can negatively affect the Company's operations and reputation,
• Manage evaluation of the possible risks (including third-party risks associated with vendor selection and management, as applicable) for the proposed new products, procedures, and functions, set up and manage internal control tools and instruments during implementation,
• Support the implementation and execution of the responsibilities and activities articulated in the FINCA Internal Control Manual,
• Implement and support AML/KYC compliance and Fraud management directives,
• Manage control activities and reporting of the subsidiary, including the monitoring and reporting of progress against corrective action plans that address control deficiencies/findings identified by management self-assessment or internal/external audit activities,
• Providing an independent view of proposed business plans and appropriate reporting on risks identified to the Management,
• Support Management in ensuring compliance of Internal Control functional activities with the Charter/bylaws of the Company, policies, procedures, plans and agreements, decisions of Company's governing bodies as well as headquarter and regional office supervisors,
• Manage regular evaluation process of all Company's regulatory documentation to ensure completeness, accuracy, and efficiency,
• Preparation of quarterly Risk reports for the subsidiary-level and FMH Board reporting,
• Supervise and monitor subsidiary Risk Management and Internal Control staff,
• Support the training and development of subsidiary Risk and Internal control staff, including AML/KYC compliance and Fraud Management responsibilities,
• Conduct periodic branch reviews of the operational and credit processes in accordance with the procedures described in the FINCA Internal Control Manual,
• Proactively engage subsidiary management boards to support key projects by providing insights that address inherent risks and residual risks after consideration of mitigating controls or other activities.
  

Job Requirements

Qualifications

• Bachelor's Degree or equivalent in Business Administration, Finance, Economics, Management, or related fields of study; advanced or graduate-level degree is desirable,
• Additional qualification/certification in Risk Management, AML/KYC compliance & internal controls is preferred.
  

Experience

• Practical banking and/or microfinance operations experience (7+ years),
• Can be credit, operations, audit, client-facing roles and/or risk management/internal control -any combination of experience,
• Leading virtual teams and/or management experience including project management,
• Not necessarily direct people management but team leadership (e.g., Project lead) experience.
  

Knowledge And Skills

• Strong business acumen,
• Strong inter-personal skills,
• Decision making skills,
• Strong communication Skills -executive writing and reporting,
• Written and verbal communication skills,
• Ability to liaise with colleagues,
• Analytical skills,
• Transaction of data/information into meaningful interpretations (e.g., future and identification management),
• Critical- thinking skills,
• Strong understanding of ERM and/or internal controls framework (e.g., COSO),
• Helps with the 'why' we do what we do and brings structure to the program,
• Profound knowledge in the field of risk management,
• Strategic Planning/ management, proper understanding of FINCA's business model to assist with development of reasonable risk tolerances.
  

Language Skills

Fluency in English required.

Travel Requirements

Availability to travel.

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