Director of Risk Management Department (Chief Risk Officer – CRO) JSCB “Microcreditbank”

Role Description

The Director of the Risk Management Department (Chief Risk Officer – CRO) is responsible for establishing and developing the Bank’s comprehensive risk management system, ensuring that the Bank operates within the established level of risk appetite while supporting sustainable growth and compliance with regulatory requirements.

This role includes organizing processes for the identification, assessment, monitoring, and management of all key types risks of the Bank, as well as exercising independent oversight over the risks undertaken.

The Chief Risk Officer interacts with the Bank’s Management Board and works in close cooperation with the Supervisory Board’s Risk Management Committee.

Key Responsibilities:

• Manage the activities of the Risk Management Department and ensure the effective functioning of the Bank’s risk management system.

• Develop, implement, and continuously enhance the Bank’s Enterprise Risk Management framework (ERMF) in accordance with international standards and the requirements of the Central Bank of the Republic of Uzbekistan.

• Establish and regularly update the Risk Appetite Framework (RAF), including defining acceptable risk levels, limits, and indicators of the Bank’s risk appetite.

• Organize the management of all key types of risks of the Bank, including credit risk, liquidity risk, market risk, operational risk, compliance risk, country risk, concentration risk, reputational risk, strategic risk, and interest rate risk in the banking book (IRRBB), as well as digital, technology, and cybersecurity risks.

• Ensure compliance of the risk management system with the requirements of international standards Basel II / Basel III, as well as the regulatory requirements of the Central Bank of the Republic of Uzbekistan.

• Manage the Bank’s Internal Capital Adequacy Assessment (ICAAP) and capital level monitor processes.

• Oversee the implementation of Expected Credit Loss (ECL) models in accordance with IFRS 9 requirements.

• Develop and improve credit risk assessment models (PD, LGD, EAD), internal rating systems, and scoring models.

• Organize stress testing and scenario analysis processes to assess the Bank’s resilience to unfavorable macroeconomic and financial conditions.

• Monitor the quality of the credit portfolio, risk concentrations, and Early Warning Indicators (EWI).

• Control over the correctness of the formation of reserves and assessment of the quality of the Bank’s assets.

• Provide an independent risk assessment when considering new banking products, major credit deals, and investment projects.

• Participate in the work of the Bank’s collegial bodies, including the Credit Committee, the Asset and Liability Committee (ALCO), and the Risk Management Committee.

• Prepare regular analytical and management risk reports: monthly for the Bank’s Management Board, quarterly for the Bank’s Supervisory Board and Risk Management Committee.

• Ensure the effective functioning of the risk management and internal control system, including the Three Lines of Defense model.

• Interact with the Central Bank of the Republic of Uzbekistan, external auditors, and international financial institutions on risk management issues.

• Form and develop a Risk Management Culture (Risk Culture) and implement risk-based approach in the Bank’s key business processes.

• Manage the Bank’s Risk Management Department, develop a team of specialists, and enhance the level of professional expertise of employees.

• Ensure compliance with internal control requirements, anti-corruption policies, and conflict of interest prevention.

• Ensure execution of assigned tasks within the ijro.gov.uz system.

• Higher education in finance, economics, banking, or a related field.

• At least 5 years of experience in the banking sector, including at least 2 years in managerial roles.

• At least 7 years of experience in risk management, including at least 2 years in management positions (mandatory requirement).

• Practical experience in designing and implementing risk management systems in financial institutions.

• In-depth knowledge of international risk management standards, including the principles of the Basel Committee (Basel II / Basel III), Internal Capital Adequacy Assessment Processes (ICAAP), and IFRS 9 requirements.

• Strong understanding of banking products, credit processes, financial markets, and liquidity management (ALM).

• Practical experience in risk modelling, stress testing, and credit portfolio analysis.

• Experience in interaction with regulatory authorities and external auditors.

• Experience in managing teams and implementing strategic changes.

• Strong analytical, strategic, and managerial competencies.

• Proficiency in English sufficient for working with international documentation and engaging with foreign stakeholders is considered an advantage.

Requirements that give the candidate an advantage

• Internationally recognized certifications in risk management, audit, finance, or accounting (FRM, PRM, CRM, CFA, CIMA, ACCA, CPA, CIA, CIPA, DipIFR, etc.).

• Experience in international banks or financial institutions.

• Experience in interaction with international financial organizations (IFC, EBRD, ADB, etc.).

• Appointment to the position by the decision of the Supervisory Board.

• Participation in the strategic management of the Bank.

• Employment in a stable financial institution.

• Official employment.

• Personal development and training.

• Career and professional growth prospects.

• Transparent remuneration system (fixed salary + KPI-based bonuses), with payments made three times per month.

• Performance-based incentive system.

• Working hours: 5 working days a week (Monday-Friday).

• Young and friendly team.

• Office location: Tashkent city, Mirabad district, Amir Temur Avenue, house 4, near the “Amir Temur Khiyoboni” metro station (5 minutes’ walk to the metro)