About the Organization:        

VisionFund Micro Finance Institution (S.C) is an Institution established according to proclamation No. 40/96 to provide financial services to the productive poor in the rural and urban areas of Ethiopia. VisionFund is currently operating in five of the Regional States of the country. VisionFund MFI is currently looking candidates for the position of Senior Risk Management Officer based at the head office. The successful candidates will have skills and experience that meet the following requirements:

Job Summary:

Senior Risk Management Officer will be responsible to manage potential risks arising from the day-to-day operations of VisionFund Microfinance Institution that includes credit risk, operational risks, Liquidity risks arising from asset-liability management, foreign exchange and interest rates risks by identifying, analyzing, quantifying and provide possible recommendations

1. Major Duties and Responsibilities:

• Facilitate, develop and update risk management policies and guidelines, including procedures and processes for their implementation.

• Prepares risk management plan with the objective to identify, measure, control and monitor risks

• Review and determine the quantity, quality, and direction of inherent risks related to VFMFI in terms of credit, operation, liquidity, interest rate, strategic and other external risks. 

• Check the accuracy of the method and the adequacy of provision for probable losses. 

• Review the compliance of MFI’s lending process with the standard and requirements of Internal and external regulatory bodies. 

• Review the collateral valuation system of the MFI in collaboration with the operation department and professional service providers in particular 

• Quarterly review of risk register in collaboration with each functional unit in different groups “high likelihood and low impact”, and “low likelihood and high impact”, and monitor their status

• Quarterly review of risk matrix and the quality of risk management system of the MFI and evaluate the adequacy of internal operational policies and procedures and compliance with legal and regulatory requirements

• Develop risk appetite and tolerance limit with collaboration of functional units

• Defines the asset and liability composition of VFMFI and the extent of off-balance sheet activities/exposure

• Monitor operational risks in the MFI’s employment practices and work place safety and technology application. 

• Monitor all associated operational risks realized in conjunction with other risks, such as foreign currency risk, interest rate risk, legal risk, strategic risk and reputation Risk

• Monitor Asset Liability Management activities and help the management of VFMFI to improve the Asset Liability Management function. 

• Follow up the Implementation of a set of risk matrices and reports including loss and incidents, key risk exposures and early warning indicators related to market risks. 

• Propose alternative ways of risk identification methods by making critical assessments of existing risk analysis tools and provide their authentication

• Develop risk assessment techniques to identify all forms of financial exposures, focusing in relevance to the existing financial management environments. 

• Review periodic report prepared by Compliance Officers and Risk & Compliance Management Officers

• Visits Branches, frequently, in line with the approved work plan from the Director, Risk & Compliance; identifies gaps and assists Areas and Branches in enhancing their capacity in terms of understanding rules and regulations;

• Verify performance deviation from established policies, procedures, systems, process, roles and responsibilities;  

• Follow up risk mitigations and other findings, observations and recommendations are discussed with respective risk owners /managers and agree on plan of action for improvement; 

• Follow up the implementation of risk management processes, tools and systems, thereby identify, assess, measure, manage and report risks;

• Support the implementation of internal controls and identify the major risks related to internal control system; 

• Forwards recommendation with an appropriate action plan on how to control or mitigate the observed risk.

• Providing support and training to staff on inherent risks and controls to build risk awareness within the company.

• Follows up efficient identification and monitoring of suspicious activities and transactions;

• Conducts daily assessment of Anti Money Laundering (AML) and local money transfer reports for potential suspicious activity;

• Participates in identifying systemic procedural weaknesses and additional training requirements for the company;

• Participates in developing and documenting the compliance policy, reports and other related documents; 

• Participates in anti-money laundering and fraud monitoring awareness building;

• Ensures and keeps the internal control procedures are abreast with applicable laws and regulations, and disseminate information / requirements to relevant stakeholders as appropriate;

• Organizes and conducts trainings for the Branch staff to make them aware of the regulation on money laundering and anti-terrorist financing and the reporting requirement and mechanisms;

• Provides expertise support to staff and other working units to assist them in complying with existing and new regulation requirements;

• Prepares and presents risk based reports and liquidity report to ensure its ability to meet obligations or its cash flow needs;

• Presents reports on “interest rate risk” to ensure that interest paid to depositors and interest rate on loans are adequately managed to cover financial costs and other expenses to continue the business on a sustainable manner;

• Prepares weekly, bi-weekly, monthly and quarterly reports to the supervisor and make ready to report to Financial Intelligence Centre (FIC), National Bank of Ethiopia and VFMFI management.

• Performs other duties as assigned by his/her Supervisor

Job Requirements

•   Minimum BA Degree in Accounting, Finance, Banking, Economics, Business Administration or related field.

• Minimum of 5 years of relevant work experience in Banks, MFIs or any other financial service providing companies.

•   Knowledge of risk management methodologies

•   Knowledge of research methodology

• Good analytical and evaluation skill

•   Be proficient in Microsoft office applications

•   High level of customer service and strong willingness to work in the field;

•   Excellent written and oral communication skills. 

3. Terms of employment: Permanent

4. Salary & Benefits:    As per the Institution salary scale

5. Closing Date:  February 22, 2023

How to Apply

Submit your CV along with your application letter and copies of credentials via email: VFE_vacancy@wvi.org or in person to VFMFI's Head Office, located around Gerji Mebrat Haile, in front of Mulmul Dabo or through post P.O. Box 3147

        Women applicants are highly encouraged to apply!

Note: -   Only short listed candidates will be contacted for subsequent assessment