Chief Risk Officer

Selcom Microfinance Bank Tanzania Limited is currently looking for a confident and self-motivated individual to fill a position of Chief Risk Officer. The ideal candidate will possess strong leadership skills and must have a proven ability to drive operational excellence. Competitive remuneration package will be offered in line with the salary structure of the Bank.

Job Role

The candidate is responsible to oversee the risk management function of the Bank. He/ She is responsible for the development of the risk management framework of the Bank including adequate credit, operational, and financial/market/counterparty risk policies, procedures and tools. He/she is responsible on ensuring the Bank is in full compliance with laws, regulations, and internal policies and procedures to effectively identify, mitigate and monitor principal risks for the Bank. Additionally, he/she will be responsible to keep developing proper “risk culture” within the institution through training, mentoring, and broad contacts within the Bank.

Duties and Responsibilities:

• Instil a culture of informed, responsible risk-taking by embedding awareness, ownership, and ethical behaviour across all levels and business units.
• Lead the development, implementation, and continuous improvement of the Bank’s ERM framework, aligned with the Bank’s digital-first transformation, growth ambitions, ensuring alignment with Bank of Tanzania guidelines and international best practices (e.g., Basel III, e.t.c).
• Define risk acceptance criteria and measurable limits for all key risk and Compliance areas (credit, operational, liquidity, market, reputational, strategic, cyber, ESG) and ensure their integration in business planning and product development.
• Ensure the Bank’s risk profile supports its financial goals, digital growth plans, and return expectations, striking the right balance between innovation and control.
• Provide strategic oversight on all digital banking platforms and partnerships, ensuring secure and compliant service delivery, with proactive monitoring of cyber threats and data risks.
• Oversee the design, implementation, and testing of business continuity and disaster recovery plans, with specific attention to digital operations and customer touchpoints.
• Ensure comprehensive identification, analysis, and documentation of all significant risks across the Bank’s products, systems, processes, partnerships, and platforms.
• Own the Credit Risk Appetite Statement, provide oversight on lending risk controls, review specific exposures, and guide the handling non-performing loan portfolios.
• Lead the Internal Capital Adequacy Assessment Process (ICAAP) ensuring capital allocation is risk-aligned and sufficient to support business growth and resilience.
• Lead internal liquidity adequacy assessment process (ILAAP) to ensure the bank has sufficient liquidity to meet our obligations, even under stressful scenarios. Hence ensure proactive assessment of our liquidity needs, identify potential risks, and develop strategies to manage those risks effectively.
• Ensure end-to-end compliance with all regulatory expectations, lead risk-based engagements with BoT and other regulators, and proactively manage inspection findings and remedial actions.
• Deliver strategic, data-driven risk reports to the Board, Management Committees, and Regulators; provide insights for forward-looking decision-making on emerging risks and opportunities.
• Lead efforts to embed Environmental, Social and Governance (ESG) principles in risk management and product strategies, in line with global banking sustainability practices.
• Ensure roles and responsibilities across the three lines of defence are clearly defined, functioning effectively, and supported by modern risk tools and metrics.
• Develop and manage a highly skilled risk workforce with digital, analytical, and strategic competencies. Foster continuous learning, succession planning, and team empowerment.
• Cooperate and providing support on the resolution of internal and external audit findings, promote a strong control environment, and maintain an up-to-date control inventory mapped to key risk areas.
• Work closely with IT, Operations, Legal, Finance, Human resources, and Business teams to embed risk thinking into projects, digital rollouts, new product launches, and customer experience enhancements.
• Assess, monitor, and manage risks associated with external partnerships and outsourced services, and digital ecosystems, including related parties and other service providers.
• Actively contribute to strategic transformation programs, product innovation committees, and cost optimization initiatives, ensuring risk considerations are built into design and execution from the start.

Minimum Requirements

Education:

• University Degree in Business, Accounting, Risk Management, Financial Engineering or any related field and Masters will be an added advantage.
• Certified in Risk Management (CERM, CRMP etc).
• ACA, ACCA, CFA and CISM or any other recognized risk certification is an added advantage.

Experience:

At Least 5 years of on job experience as Chief Risk Officer or Head of Risk and Compliance.
At least 10 years of functional risk and compliance experience in some combination of the following areas:

• Credit Risk Management
• Credit Scoring
• Operational Credit Management including underwriting responsibilities.
• Financial / Market Risk Management/Compliance Risk Management.
• Operational Risk Management.

Additional advantages experience:

• Previous international management experience in a large global organization/banking sector
• Digital banking or fintech exposure is a strong advantage, especially in environments involving CBS change, digital lending, or mobile money ecosystems.
• Project and change management experience.

Application

Send your CV, cover letter, academic and professional certificates to career@smfb.co.tz. Deadline for application is 31st July 2025. Kindly note that only shortlisted candidates will be contacted.

Selcom Microfinance Bank Tanzania is an equal opportunities employer.