Risk, Internal Control and Compliance Manager, FINCA Armenia

Validity period: 24/07/2019 - 23/08/2019
Duty Station: Yerevan
Position: Risk, Internal Control and Compliance Manager, FINCA Armenia
Department / Branch: Internal Control Department

Job Description

The major purposes of the role are to establish, implement and enforce a robust risk management framework and systems (policies, processes and tools) covering the ten key risk families defined by FINCA’s Global Risk Management function. The Risk, Internal Control and Compliance Manager assists Management to create and maintain a sound risk and internal control environment and within the agreed risk appetite determined by the subsidiary’s management board and approved by the Board of Directors. S/he will assist Management to improve the overall performance and activities of the FINCA subsidiary, and in making decisions on the issues of risk identification, analysis, mitigation and prevention. Working within the framework of the subsidiary’s regulatory requirements and in coordination with FINCA functional heads, the Risk, Internal Control and Compliance Manager will manage and monitor control activities and recommend corrective actions to remediate identified control deficiencies. S/he will also develop work plans in coordination with Management that are aligned with the subsidiary’s strategic and operational objectives and any requirements of external governance bodies.

Duties and Responsibilities

Specific duties and responsibilities include but are not limited to:

  • Support business in developing appropriate Risk Management strategies/tools and disseminating appropriate risk management practices in line with developments in the market/industry, laws, regulations, etc.
  • Overseeing and enforcing risk management policies and established risk limits to close significant gaps in risk management capabilities (policy monitoring).
  • Conduct analysis of operations of the subsidiary to identify risks and make recommendations for preventive actions.
  • Timely investigation, analysis and reporting of compliance issues and/or instances of fraud which can negatively affect the Company’s operations and reputation.
  • Manage evaluation of the possible risks (including third-party risks associated with vendor selection and management, as applicable) for the proposed new products, procedures and functions, set up and manage internal control tools and instruments during implementation.
  • Support the implementation and execution of the responsibilities and activities articulated in the FINCA Internal Control Manual.
  • Implement and support AML/KYC compliance and Fraud management directives.
  • Manage control activities and reporting of the subsidiary, including the monitoring and reporting of progress against corrective action plans that address control deficiencies/findings identified by management self-assessment or internal/external audit activities.
  • Providing an independent view of proposed business plans and appropriate reporting on risks identified to the Management,
  • Support Management in ensuring compliance of Internal Control functional activities with the Charter/bylaws of the Company, policies, procedures, plans and agreements, decisions of Company’s governing bodies as well as headquarter and regional office supervisors.
  • Manage regular evaluation process of all Company’s regulatory documentation to ensure completeness, accuracy and efficiency.
  • Preparation of quarterly Risk reports for the subsidiary-level and FMH Board reporting.
  • Supervise and monitor subsidiary Risk Management,Internal Control and Compliance staff.
  • Support the training and development of subsidiary Risk and Internal control staff, including AML/KYC compliance and Fraud Management responsibilities.
  • Conduct periodic branch reviews of the operational and credit processes in accordance with the procedures described in the FINCA Internal Control Manual.
  • Proactively engage subsidiary management boards to support key projects by providing insights that address inherent risks and residual risks after consideration of mitigating controls or other activities.

Job Requirements

  • Bachelor’s Degree or equivalent in Business Administration, Finance, Economics, Management or related fields of study; advanced or graduate-level degree is desirable.
  • Additional qualification/certification in Risk Management, AML/KYC compliance & internal controls is preferred.
  • Languages: Armenian and English (oral and written fluency).
  • Ability to travel

Core Competencies

  • Practical banking and/ or microfinance operations experience (7+ years)
    • Can be credit, operations, audit, client-facing roles and/or risk management/ internal control – any combination of experience
    • Strong business acumen
  • Leading virtual teams and/ or management experience including project management
    • Not necessarily direct people management but team leadership (e.g., project lead) experience
    • Strong interpersonal skills
    • Decision-making
  • Strong communications skills – executive writing and reporting
    • Written and verbal
    • Ability to liaise with the colleagues
  • Analytical skills
    • Translation of data/ information into meaningful interpretations (e.g., future trends and identification management)
    • Critical thinking skills
  • Strong understanding of ERM and/ or internal controls framework (e.g., COSO)
    • Helps with the “why” we do what we do and brings structure to the program
    • Profound knowledge in the field of risk management
    • Strategic planning/ management; proper understanding of FINCA’s business model to assist with development of reasonable risk tolerances
    • Conceptual skills including the ability to adopt a horizontal, portfolio approach of ERM


Application Procedure

If you meet the requirements above and are confident that your background and experience qualify you for the position, please follow the link: https://tinyurl.com/Risk-Manager-FINCA-Armenia, then create your account to apply.