IB – Risk – Country Risk Officer – ED – Based in Riyadh, Saudi Arabia recruitment
Job Description
J.P. Morgan has been conducting business in Saudi Arabia for several decades and is the only US-based Global Banking Institution to have a full, stand-alone commercial banking license in the Kingdom.
J.P. Morgan is a leading global financial services firm with assets of $2.0 trillion and operations in more than 100 countries. The firm provides a broad range of financial services customised to meet the needs of their clients, utilising one of the most comprehensive global product platforms available. The firm has demonstrated its leadership in the market throughout economic instability, taking a long-term approach to client solutions. The firm's actions have always reflected a commitment to do the right for today and tomorrow. Information about the firm is available at www.jpmorganchase.com
J.P. Morgan provides to its clients a full range of commercial banking services. These services are provided to Banks, Non-bank Financial Institutions and Corporations. These services range from traditional corporate bank lending, capital markets sales to treasury and cash management services. These commercial banking services are delivered through the Investment Bank, Global Corporate Bank and Treasury Services businesses of J.P. Morgan. In recent years J.P. Morgan has been expanding the geographic coverage of our commercial banking capabilities. This expansion reflects the increasingly global nature of our clients and the need to service those clients cross-border needs. The execution of full service commercial banking capabilities in Saudi Arabia is a central part of this international expansion plan.
Country Risk Officer (CRO) - Description
As J.P. Morgan expands into Saudi Arabia, our business development plans must progress in line with our ability to operate and execute for our customers and employees. This role provides the risk foundation for the branch and growth of JPM's commercial banking franchise in the Kingdom and the region.
The role focuses on 3 main components; credit risk, regulatory interface and operational risk. Each of these will be done in close collaboration with a wide range of risk and business functions including Investment Bank Credit Risk Management, TSS Risk Management, Product Management and Global Corporate Banking.
The credit risk aspect of this role will cover a range of products and services including liquidity, inter-bank activities, lending, trade finance and derivatives. The role is visible with the main regulator - SAMA. In this regard, the candidate will perform all necessary functions to ensure regulatory requirements are well understood, anticipated and executed upon. This includes building a productive and collaborative relationship with our regulators. The operational risk aspect of the role has oversight for all aspects of the Branch operation in collaboration with the Head of Operations.
This role will also be actively involved in the execution of the expansion plan to ensure that all new proposed activities have the appropriate risk and control processes, infrastructure and resources for executing on the proposed expansion. Essential Responsibilities
- Credit risk management of a portfolio of clients and the related exposures emanating from a wide range of activities
- Approving credit lines/transactions within the credit authority delegated by the organization and within the existing risk policy governance framework.
- Operational risk management of a variety of products and services, including operational processes and related infrastructure requirements
- Assist local management team in the development and oversight of the risk and control governance framework
- Operate Riyadh Branch Risk Committee and other relevant risk and control committees
- Participate in regional credit committees, working groups and portfolio reviews
- Interface as CRO with SAMA and other regulators as required
Qualifications
- Solid credit risk management experience, specializing in Saudi Arabian-domiciled clients, local laws and market practices
- Technical knowledge of treasury and securities related products and services
- Experience in operational risk management including controls, process and governance framework
- Solid understanding of financial products and market dynamics
- Knowledge in loan structuring and documentation including trade finance, cash management and other core commercial banking products
- Highly effective people management skills, especially cross-cultural experience, talent management and development
- Excellent partnering skills and someone who can drive consensus across teams
- Strong communication skills
About JPMorgan Chase Co.
J.P. Morgan serves one of the largest client franchises in the world. Our clients include corporations, institutional investors, hedge funds, governments and affluent individuals in more than 100 countries. J.P. Morgan is part of JPMorgan Chase Co. (NYSE: JPM), a leading global financial services firm with assets of $2.2 trillion. The firm is a leader in investment banking, financial services for consumers, small business and commercial banking, financial transaction processing, asset management, and private equity. A component of the Dow Jones Industrial Average, JPMorgan Chase serves millions of clients and consumers under its J.P. Morgan and Chase, and WaMu brands.
J.P. Morgan offers an exceptional benefits program and a highly competitive compensation package.
J.P. Morgan is an Equal Opportunity Employer.