Head of Risk

This role will be in the Risk & Compliance Department and the reporting line under CEO/Board Audit & Risk Committee (BARC).

About Us

Karandaaz Pakistan is a not-for-profit organization, based out of Islamabad, registered with the Securities and Exchange Commission of Pakistan under Section 42 of the Companies Act 2017. The entity has been seeded by Enterprise and Asset Growth Programme of UK's Foreign, Commonwealth & Development Office (FCDO) and our digital finance initiatives are being funded by the Gates Foundation.

Karandaaz Pakistan is guided by the vision of Investing for Shared Prosperity, and driven by the mission to enhance capabilities of the financial and digital ecosystem through investments, innovations, and strategic partnerships for inclusive, green and sustainable growth.

Position Summary

The incumbent is expected to lead and manage a team of risk professionals that is responsible for the development and implementation of risk management strategy for Karandaaz Pakistan, encompassing credit, market, operational and other risks, along with Compliance.

These responsibilities are carried out with the objective to safeguard assets health, credit underwriting, ensure timely identification/prevention/mitigation of financial/reputational risks through counter measures, and close risk exposure within the limits of organization's policies, SOPs, directions/guidelines from the CEO/Board, and applicable regulatory and donor requirements.

Job Responsibilities

Credit, Equity & Market Risk

• Conduct due diligence on credit and investment proposals and disbursements, preparing and communicating risk matrices and risk observations to the Investment Committee. Serve as member Treasury Committee and investment panel member for Innovation Investments transactions.
• Review contracts and legal documentations and validate alignment with statutory/regulatory requirements. Identify and assess gaps followed by determining appropriate action plans for mitigation.
• Monitor and review portfolios'/products' performance on monthly basis and ensure effectiveness of implemented controls for optimum results.
• Oversee management and maintenance of credit book i.e. concentrations, credit ratings, watchlist and non-performing loans.
• Analyze overall exposure of the organization to various risks. Examine and ensure liquidity level of the organization is at an acceptable level.
• Ensure alignment of risks with market conditions and other dynamic factors.
• Determine impacts of economic indicators on the organization, compile results and share with Board/relevant Committees to develop visibility on the overall situation.
• Supervise the regular updating and maintenance of the risk register, preparation and communication of risk dashboards and key risk reports for the Board Audit & Risk Committee.
• Oversee the annual stress testing activity and associated reporting to management and Board.

Strategic Operations & Direction

• Analyze business objectives/long-term plans and accordingly outline Risk Management Framework, Risk Mitigation Tools and Control Mechanism.
• Set directions for risk management and ensure implementation of credit discipline as per defined regulations, and internal guidelines.
• Oversee performance of strategic investments, verify conformance with investment plans and highlight anomalies (if any). Recommend rectification measures accordingly.
• Review potential strategic investment options and conduct comparative analysis of associated risks and profitability margins
• Lead development of Risk Analytics and Risk Assessment tools
• Develop and enhance risk methodology for market / interest rate, credit, liquidity and operational risks.
• Administer compliance with IFRS 9 standards and guidelines for financial/credit modeling
• Review quarterly reports and recommend on rectification of anomalies

Policy & Compliance

• Stay abreast with the market dynamics and local/international best practices
• Analyze risk assessment procedures, identify gaps and improvement areas.
• Develop and review the Risk Management Framework, including risk and compliance policies and controls. Facilitate effective implementation of policies, SOPs, mechanisms and related controls for timely and efficient identification of financial risks.
• Ensure that risk appetite statements and risk tolerance limits are defined, documented, and reviewed periodically in alignment with the organization's evolving strategic objectives
• Ensure AML/CFT compliance across the organization.
• Ensure seamless implementation of policy framework in subsidiaries and strategic investments

Eligibility Criteria

Education & Experience

• Masters' degree or equivalent education with majors in Finance/Economics/Business Administration required.
• Candidates with either Chartered Financial Analyst (CFA), or Financial Risk Manager (FRM) certification will have an added advantage.
• At least 10 years of progressive experience in Risk Management in Financial Services industry is essential. Experience of Private Equity/Investment Banks will be given more weight along with proven experience in developing and implementing institutional risk and compliance policies.

Knowledge, Skills & Abilities

• In-depth knowledge of Anti-Money Laundering (AML), Counter-Terrorist Financing (CTF), and Know Your Customer (KYC) frameworks, including local (SBP, SECP) and international (e.g., FATF) regulations.
• Solid understanding of Enterprise Risk Management (ERM), covering operational, credit, market, reputational, and strategic risks.
• Proficiency in financial and credit risk modeling techniques to evaluate institutional exposure and support decision-making.
• Demonstrated ability to lead, inspire, and mentor high-performing risk and compliance teams.
• Strategic thinking with the ability to anticipate emerging risks and align risk posture with institutional goals.
• Skilled in influencing and negotiating with senior stakeholders, regulators, and strategic partners.
• Exceptional verbal and written communication skills, including Board presentations and regulatory reporting.
• Strong analytical and problem-solving skills to evaluate complex risk scenarios and develop sound mitigation strategies.
• Ability to manage and resolve conflicts constructively while safeguarding institutional integrity.
• Capability to manage multiple priorities and deliver high-quality outputs under pressure.
• Ability to integrate risk insights into governance and strategic planning processes.
• Experience interpreting and applying risk analytics and dashboards to inform decision-making.
• Awareness of ESG (Environmental, Social, and Governance) risks in the context of sustainable finance or donor-funded programs.

Culture and Values at Karandaaz Pakistan

Karandaaz culture is guided by our values of Integrity, Diversity, Entrepreneurship, Appreciation and Learning Acumen (IDEAL). These values shape our choices on what we do and the approach that we take towards it, both with colleagues internally and partners externally. We also believe that we are all responsible for creating a great place to work and are constantly looking to hire individuals who bring the same level of passion and commitment to the purpose of the organization.

Karandaaz Pakistan is an equal opportunity employer and encourages applications by all population groups.