It takes over the following duties and tasks:
- Setting and permanently updating risk management strategy, policies and appropriate procedures.
- Ensuring that bank business general strategy is compatible with limits of acceptable risk ratios adopted by the board of directors and determined by Credit Review Committee.
- Regularly providing the board and the higher executive administration with information on measuring risk and risk system of the bank to enable the board to review qualitative and quantitative risk statistics at the bank.
- Reporting to Risk Management Committee on various levels of risk exposure.
- Coordination with other departments to provide required data of risk management, continuous consideration of risk status surrounding activities, making appropriate recommendations and following up avoiding notes and negative points of high risk according to reports made on them. Also, coordination on laws and legislations that affect business of these departments and risk management.
- Building educational knowledge of risks within the bank, which includes appropriate teaching and training.
- Making risk policy and structure internally for work units, executing risk management policy approved by the board of directors and designing and reviewing risk management processes.
- Developing operations of risk confrontation that include emergency program, work continuity and development of new instruments and models to measure risk or update used instruments and models as well as making stress testing on potential risk and any tests required to verify performance to recognize potential risk and development of new instruments and models to measure risk or update and evaluate used instruments and models.
- Suggesting standard models to measure performance, measuring realized performance and comparing it with anticipated or projected performance by the board of directors and setting key risk indications.
- Working on developing methodologies required for execution of policies and procedures of risk factors’ management and assisting execution of these methodologies.
- Recommending and suggesting for the Credit Review Committee on risk cap, approvals, reporting and registering of exceptions of risk management policy.
- Measuring anticipated loss volume linked to risk factors, comparing them with adopted limits of these factors’ management and notifying the higher executive administration on any related exceeding.
- Participating in making and suggesting amendments on bank risk management policies and strategies.
- Suggesting and following up execution of pricing instruments of products and services offered by bank parts to reflect their risk degree.
- Continuous knowing about latest updates of risk management, making continuous updating and developing the department business accordingly and spreading awareness on risk, measuring methods and management ways among various administrative levels of the bank.
- Making information of risk at the bank available to be used for purposes of disclosure and publication for public.