BANK OF AFRICA UGANDA
The Head of Risk Management is responsible for designing, implementing, and maintaining the Bank’s risk management framework to ensure the identification, assessment, control, and reporting of all material risks. The role provides strategic leadership in the oversight of various risk categories and ensures compliance with applicable laws, regulations, and Basel Framework standards.
Key Responsibilities
Enterprise Risk Governance
Develop and implement the Enterprise Risk Management Framework (ERMF), risk policies, and the Bank’s Risk Appetite Statement (RAS).
Establish risk governance structures, escalation procedures, and reporting protocols in accordance with BOU and Basel principles.
Lead the integration of risk management into the Bank’s strategic planning, budgeting, and decision-making processes.
Regulatory and Internal Compliance
Ensure compliance with the Financial Institutions Act, BOU Capital Buffers and Leverage Ratio Regulations (2020), and the Corporate Governance Guidelines (2022).
Serve as the Bank’s lead officer in overseeing and submitting the Internal Capital Adequacy Assessment Process (ICAAP) and the Internal Liquidity Adequacy Assessment Process (ILAAP).
Liaise with regulators, including responding to risk-related supervisory queries and participating in onsite/offsite inspections.
Risk Monitoring and Controls
Lead the monitoring of risk exposures across all portfolios and functions, ensuring risks remain within approved limits.
Oversee risk identification tools such as Risk Control Self Assessments (RCSAs), Key Risk Indicators (KRIs), and scenario analysis.
Ensure risk control measures are embedded in operational processes and supported by strong internal controls.
Risk Quantification and Reporting
Develop and implement methodologies for the quantification of various risk categories such as credit risk (e.g., PD, LGD), market risk (e.g., VaR, ES), and operational risk (e.g., AMA, SA).
Coordinate risk stress testing, reverse stress testing, and recovery planning.
Deliver timely and accurate risk reports to the Board Risk Committee, Executive Management, and the Central Bank.
Capital and Liquidity Risk Oversight
Lead the preparation and submission of ICAAP and ILAAP stress testing reports.
Evaluate the adequacy of capital buffers and risk-weighted assets across all risk categories.
Ensure appropriate capital planning for new products and business lines.
Strategic Risk Management
Monitor emerging risks including ESG, cyber threats, geopolitical, and climate-related risks.
Contribute to risk-based pricing models, product and process development reviews, and strategic investments.
Risk Culture and Capacity Building
Build and embed a risk-aware culture throughout the institution.
Lead the training and development of risk personnel and provide awareness across departments on key risk concepts and practices.
Required Competencies
Education: Bachelor’s Degree in Risk Management, Finance, Economics, or related field; Master’s degree (e.g., MBA or MSc in Risk Management) and professional certifications in risk management or financial analysis (such as FRM, PRM, CFA, CISA) will provide added advantage.
Experience: 10+ years in banking or financial services, with at least 5 years in a senior risk management or governance role.
Technical Skills: Demonstrated understanding of the Basel Framework (Pillar 1, 2, and 3), risk modelling and quantification techniques (e.g., PD, LGD, VaR, ES), stress testing, capital planning, and ICAAP/ILAAP processes.
Analytical Skills: Expertise in enterprise risk assessment, policy development, internal control evaluation, regulatory compliance, and alignment with BOU and international banking standards.
Leadership Abilities: Proven track record in leading cross-functional teams, influencing organizational change, implementing enterprise-wide risk culture, and communicating effectively with executive and board-level stakeholders.
Application deadline: 9 May 2025
