Principal Deposit Protection Officer (Risk & Bank Examination)

Key Duties and Responsibilities

• Designing and enforcing comprehensive risk management policies, methodologies, and tools for supervised financial institutions.
• Evaluating financial, operational, credit, liquidity, and market risks affecting banks and the broader financial system.
• Monitoring risk indicators to detect early signs of instability or potential bank failures.
• Reviewing stress testing models to assess banks’ resilience under adverse economic scenarios.
• Recommending risk mitigation strategies and regulatory adjustments to strengthen the sector’s stability.
• Directing and coordinating on-site inspections to assess compliance with banking laws, prudential guidelines, and risk standards.
• Analyzing periodic returns and financial reports from banks to detect irregularities or deteriorating conditions.
• Ensuring adherence to anti-money laundering (AML), counter-terrorism financing (CTF), and corporate governance requirements.
• Evaluating asset quality, capital adequacy, earnings performance, liquidity, and management practices.
• Preparing comprehensive examination reports with findings, risk assessments, and recommendations for corrective action.
• Leading and mentoring junior risk officers and examiners in both field and desk- based reviews.
• Liaising with other regulators, auditors, and enforcement agencies on cross-cutting financial sector issues.
• Providing subject matter expertise on complex risk issues, innovative financial products, and emerging threats (e.g., fintech risks, cyber threats).
• Contributing to developing prudential regulations, supervisory guidelines, and sectoral risk assessment frameworks.
• Engaging with bank executives to communicate examination findings, remedial actions, and regulatory expectations.

Requirements

For appointment to this grade, an officer must have:

• Cumulative period of nine (9) years’ relevant work experience, three (3) of which must have been in the grade of Senior Deposit protection Officer, or in comparable position.
• Bachelor’s degree in Commerce, Banking, Finance, Economics, Actuarial Science, Business Management, Business Information Technology, Business Administration or its equivalent qualification from a recognized and accredited institution.
• Relevant professional certification from a recognized institution.
• Management Course lasting not less than four (4) weeks from a recognized Institution.
• Membership to a relevant professional body where applicable and in good standing.
• Proficiency in Computer applications.
• Demonstrated merit and ability as reflected in work performance and results.