Financial Policies, Planning and Analytics Director

Jeddah, Saudi Arabia
Apply by 20 March 2018
Senior-level , Full-time staff position
Posted on 9 March 2018

Job Description

To supervise the strategic financial planning and financial policy function to align with the Bank’s overall functional strategy. To provide high level independent advice related to strategic financial management of the Bank, particularly in the areas of financial risk management and treasury functions and serve as standing member in high level Bank committees such as Asset-Liability committee and Policy committee.

Roles and Responsibilities:

General Responsibilities:

  • Serves as single unit for the development of all financial and Asset Liability Management (ALM) policies and guidelines in the Bank
  • Develops key results targets and performance indicators (KPIs) related to strategy and operational plans for the unit
  • Contributes, in collaboration with the concerned units, to the development and improvement of the Bank’s processes as they relate to the unit’s functions
  • Contributes to the annual planning process, provide input into the 3-year rolling plan, and monitor the plan throughout the year
  • Designs, develops and maintains all financial policies and guidelines relating to the Bank’s financial management including income, investments, pricing frameworks, provisioning, resource mobilization, cost allocation, equity growth and others
  • Designs, develops and maintains the all financial risk policies and guidelines relating to the Bank’s ALM including profit rate risk, currency risk, liquidity management and hedging strategy
  • Serves as the focal point and ‘resource center’ for all matters related to financial policies and guidelines and ensures that policies are readily available on server platform for all Bank users
  • Develops with Investment unit and the Planning and Analytics unit in FPPA, the Investment Policy statements for each of the managed funds including the Strategic Asset Allocation (SAA) and risk budget for the investment strategies and the supporting guidelines on the procedural rules and permissible variances from targets
  • Prepares all medium and long term financial projections and scenario modelling for supporting the Bank’s financial budgeting considerations and the determination of financial sustainability of the Bank by comparing key ratios against approved prudential limits established in risk frameworks and financial policies
  • Formulates the financial strategy for the Bank whilst maintaining sustainable growth rate in operations consistent with the Bank’s established prudential risk parameters in line with the preservation of the Bank’s AAA rating
  • Proposes to Management, the required share capital requirements and growth strategy and control of income allocations to ensure sufficient and sustainable risk capital growth in line with the Bank’s targeted capital adequacy ratio
  • Supports the rating exercise to ensure the maintenance of AAA rating, the unit performs on regular basis, the core qualitative and quantitative analyses stipulated in the methodologies of the rating agencies relating to market, ALM and liquidity exposures
  • Prepares regular financial sustainability report highlighting matters of strategic significance to the Bank for the consideration of Management
  • Defines and develops methodologies, models and systems to optimize ‘risk-return’ within approved tolerance levels for financing and investment operations
  • Develops the methodologies and models for the management of liquidity and market risk in the Finance Complex and allows monitoring by the Compliance and Monitoring unit
  • Performs financial analytical research to identify the key income drivers, cost allocations to formulate optimal business model of the Bank
  • Oversees the preparation of analytic reports on periodic basis on liquidity management on performance assessment and attribution
  • Develops and implements methodologies (VaR, Greeks etc) to assess and measure IDB’s market risks associated with financing, investment, funding and derivatives operations
  • Undertakes continuous function of identification, measurement, monitoring and reporting on profit-rate, currency and other market risks inherent in the financing, investing, funding and hedging operations of the Bank
  • Undertakes detailed review and assessment of the market and liquidity risk profiles including credit quality of the liquid funds portfolio, duration mismatch between assets and liabilities, currency mismatch, gap analysis, stress testing, sensitivity, etc.
  • Undertakes stress tests and scenario analyses on investment, funding and derivatives portfolios to ascertain the level of market risk in the Bank’s activities
  • Quantifies the potential exposures to market and liquidity risks due to both existing and proposed borrowings and report thereof
  • Advises the Financial Policies unit in developing investment policy statements for each of the investment funds
  • Provides the analytical support to proposing risk-return objectives, risk tolerance, investment horizon, Strategic Asset Allocation (SAA), liquidity requirements and investment constraints
  • Performs the pre-audit function as an additional layer of review and control within the scope of Bank-approved guidelines
  • Performs the middle office function of day-to-day risk management and monitoring of compliance of market, liquidity and ALM risks including third-party creation, maintenance of static data, market data, ratings and sector data, blotter monitoring, compliance checks, limits management etc.
  • Monitors the currency mix of the Bank, using the methodologies and models approved by Planning Analytics unit, to maintain the SDR currency basket and proposes to the Treasury unit the amount required to be bought or sold to rebalance the balance sheet
  • Monitors the Bank’s exposure to Profit Rate Risk
  • Prepares Asset Liability Management Committee (ALCO) pack for monthly submission
  • Conducts all activities pertaining to FPPA’s role as Secretariat to ALCO
  • Monitors compliance of Treasury operations with approved financial policies and guidelines
  • Monitors risks of the portfolios on a daily and monthly basis
  • Ensures the completion of the Integrated Strategic Planning Framework (ISPF) template, provisions input into the 3 year rolling plan and monitors the plan throughout the year.

Leadership Responsibilities:

  • Coordinates provision of advisory services and technical guidance in matters related to financial policy, planning and analytics to IDB organizational units
  • Provides motivational and inspirational leadership for the unit, and communicates to direct reports clear performance expectations
  • Manages the performance and resources of the unit through delegation of responsibility, setting stretch objectives and providing regular feedback on results at a unit level, promptly addressing areas of underperformance
  • Monitors and assesses the skills and capabilities of the unit, and determines the actions needed to increase the unit’s impact
  • Supports filling in key capability gaps of teams through capacity development and recruiting efforts
  • Coaches, mentors and develops the direct reports and the top talent/ high potential staff
  • Acts as a role-model to communicate to the unit’s staff IDB’s values and leadership competencies and provides direction and support in times of change.
Qualifications / Experience:

Academic Qualifications:

  • Masters degree in Financial Modelling/ Asset Liability Management/ Risk Management or related discipline
  • PhD degree Financial Modelling/ Asset Liability Management/ Risk Management or related discipline (Preferred)
  • Relevant certifications such as CA, FRM, CFA or similar (Preferred)

Work Experience:

  • 10+ years of Financial Modelling/ Risk Management.
  • 3+ years of managerial/ supervisory experience in the role.

Languages:

  • Fluent in oral and written English language - Required
  • Fluent in oral and written Arabic language - Preferred
  • Fluent in oral and written French language - Preferred
Job Technical Skills:
  • Deep knowledge of financial modelling, planning and scenario development/ analysis principles and industry practices
  • Deep knowledge of Industry standard statistical and stochastic models for Risk Management
  • Deep knowledge of Asset Liability Management
  • Deep knowledge of pricing models
  • Deep knowledge of Regulatory Capital requirements and models
Working Conditions:
  • Job will be based in IDB’s headquarters in Jeddah, KSA
  • Travel as needed

More Jobs from this Organization