JOB PURPOSE
Responsible for development and implementation of IFRS 9 impairment models to ensure compliance with the IFRS 9 governance and Banks policies and accounting standards. This involves Coordination & management of end-to-end impairment process and management of key interactions with other related teams (i.e. Credit, Risk, Finance, Technology and audits).
The jobholder will also have responsibilities to manage and implement Bank’s IFRS 9 Expected Credit Loss calculation, modelling and reporting processes in NBK core portfolios depending on stakeholder and senior management priorities.
KEY RESPONSIBILITIES
- Be a subject matter expert on all areas of IFRS 9 impairment model development.
- Enhancing the development IFRS 9 models including re-calibration of PD, LGD, EAD and macroeconomic scenarios.
- Transform macroeconomic data to establish significant variable based on Principal component analysis (PCA), correlation analysis and economic sense check.
- Design and derive risk rating PD model using internal data for specific unique portfolios.
- Review of key ECL assumptions to ensure the model is IFRS 9 compliant and are up to date.
- Managing and implementing the ongoing monthly production of IFRS 9 expected credit losses using bank’s models, whilst providing insight and analytical commentary to allow bank’s senior management to make complex considerations and a high level of management judgement on the expected credit loss calculations of bank’s expected credit loss on timely basis.
- Developing additional IFRS 9 ECL models and/or PD/LGD/EAD scorecards should the Bank widen its product offering.
- Enhancing model monitoring and management information packs to allow bank’s senior management to understand even more complex products and investments in the future.
- Providing and presenting advanced analytical insights to the business teams and Senior Stakeholders, in addition to explaining new technical concepts when necessary and ensuring that IFRS 9 standards and requirements are met across the organisation.
- Engage with business partners to provide business priorities, present model development activities to various review committees (comprising senior management from various functions within businesses).
- Guide and inspire the team in model development best practices, development of quality model documentation for submission to Internal Model Review committee.
- Assess model adjustments such as macro-economic variables and other activities for model stability and compliance.
- Continuously looking at the environment to update assumptions around model development, insight generation, tools, talent, potential partners etc.
- Lead and provide insights on model development and other model updates to management on a regular basis.
- Support and liaise with multiple teams namely Financial Controls, Lending Risk and Model monitoring that are related to IFRS 9 models.
- Facilitate collation of all information and data from the businesses.
- Engage appropriately with external parties, such as regulators and external auditors.
- Be point of contact for credit division for FRS 9 related queries and manage all issues that arise about the standard in liaison with Director credit and Finance. Thus, champion awareness of IFRS 9 in respective product areas.
- Manage governance over key model inputs, assumptions and adjustments
- Regular reporting to key stakeholders including business, Credit committee, Board audit and Risk committee
WORK EXPERIENCE
- Minimum of 3 years’ experience in Finance/Credit and all-round banking experience.
- IFRS 9 subject-matter expert with working understanding of IFRS 9 methodologies and models, impairment process, model inputs, forward economic guidance, stage allocation, disclosures and financial reporting
- Highly proficient user of Microsoft Excel including data analysis tools- Alteryx strongly preferred
- Experience in undertaking linear regression analysis and/or predictive modelling
- Experience of financial reporting processes
- Experience of Credit processes
- Ability to think creatively and develop innovative solutions.
QUALIFICATION & CERTIFICATIONS
- Bachelor’s degree in actuarial science/Statistics/Mathematics from a recognized University.
- Professional certification in AKIB/CIB, CPA(K), ACCA is an added advantage.
- Master’s degree in a Business-related field from a recognized University is an added advantage.
