Chief Risk Officer

MB Risk Advisory is a consultancy firm helping financial institutions managing their risks (www.mb-risk-advisory.com). The projects MBRA worked on are:

• Public Investment Fund (Saudi Arabia) [Dec 2020 to Mar 2021]: Risk Advisor.
  PIF is a Saudi SWF fund set-up to support the development of vital projects in the Kingdom ($400 billion AUM)
  In partnership with Mercer, developed risk management policies, implemented portfolio risk on Barra-MSCI platform, and designed risk modelling of Developmental deals (Real Estate, Infrastructure).
• Tourism Development Fund (Saudi Arabia) [Nov 2020 Dec 2020]: Risk Advisor.
  TDF is a Saudi fund set-up to support investments in the development of the Saudi tourism sector ($4.5 billion AUM)
  In partnership with ATK, developed risk management governance, risk appetite and risk policies.
• MERatings (GCC) [Jul 2019 to date]: Board credit committee member.
  MERatings is an independent credit rating boutique based in Qatar
  Drove revenue strategy towards rating client requiring independent assessment to support their fundraising initiatives. Established credit assessment governance. Introduced company to key players in Qatar (QIA, GRSIA, QFB, QInvest, QIB…)
• SHV Energy (France) [Nov 2019 – Jun 2020]: interim Chief Risk Officer.
  SHV Energy is a family-owned multinational organisation that consists of a group of specialised energy companies.
  Managing a team of 4, overseeing trading and operational risk activities.
  Set-up 2 board risk meetings. Recalibrated VaR limits to be consistent with operational limits.
  Improved risk controls effectiveness (6 out of 32 key global controls), and integrated Austrian subsidiary within controls set.
  Implemented Intractiv credit risk system (https://www.intractiv.com/) to improve credit collection management.
• Airelle (France) [Nov 2018 - Mar 2019]: GDPR implementation
  Airelle is a start-ups incubator
  Implemented GDPR (policies, processes, forms and risk register), addressing personal data management risks.
  Set-up a GDPR presentation to be used by start-ups supported by the incubator.
• Metals Industry (France) [Feb 2028 - Nov 2018]: Fund raising
  https://metals-industry.com/ is a marketplace for the metals industry
  Prepared business plan and risk analysis ahead of launching the firm’s next development phase.
  Organized funding meetings with Venture Capitalists and banks (regional/global).

Mascat, Oman

Sovereign Wealth Fund of Oman investing world-wide with $20+ billion assets under management

Responsibilities:

• Reporting to the Director of Risk and Compliance, evaluating risks of existing and new investments.

Achievements:

• Governance - Developed a set of governance principles for the companies SGRF invested in, setting business controls that ensured the principal risks applicable to their areas remained within approved risk appetite. Assisted Omanis assigned as Board members of private companies SGRF invested in; advising them in performing their NED duties.
• Private Equity New Investments - worked together with the Deal Teams in reviewing new acquisition risks, providing Investment Committee recommendations before making new investments. Covered 60+ investment proposals (Private Equity, Infrastructure, Real Estate) over the period, of which 30% were turned down due only to risk related issues.
• Private Equity Post-Acquisition - established investment risk register, providing a unified risk evaluation, measurement and reporting framework, allowing better overall evaluation and prioritization of the management of SGRF investments.
• Risk Analytics - implemented an economic risk capital model to measure Private Equity risks both from a deal and portfolio perspectives to support asset allocation decisions and compliance with risk limits.
  Instigated country risk analysis and reporting (based on ECR) to support capital allocation across all asset classes.
• Policy Formulation - Updated SGRF risk policies to reflect “Santiago principles”, including valuations (IFRS 9).
• Corporate Strategy - supported implementation team in charge of development new initiatives (new strategies, new IT system covering ERM, data parametrization, risk modules etc.) under COSO and later ISO 31000 framework.
• Team Development/Financial Management - Managed budget and team. Mentored and trained local staff aiding career ndevelopment and enhancing role performance.

Doha, Qatar

Qatar First Bank (QFB) is an independent Shari'ah compliant investment bank.

Responsibilities:

• Drive the management of all aspects of the bank’s risk (investment, credit, market, operational, strategic).

Achievements:

• Risk Compliance: implemented Basel II/III framework (ICAAP, ILAAP), and IAS 39 / IFRS 9 assets valuations.
• Stock listing: listing QFB on the Qatar stock exchange.
• Private Equity: 20+ new investment risk analysis and recommendation to Investment Committee before investment was made. Post-acquisition: represented QFB at boards of some companies QFB invested in.
• Commercial Banking - established the credit risk function (governance processes, credit models, credit risk management policies, credit templates, risk architecture) to support the bank’s entry into commercial banking activity in 2014.
• Information security: achieved ISO 27001 certification.

Manama, Bahrain

Arcapita provides Private Equity investments with $7 billion in invested assets under management.

Responsibilities:

• Establish and manage risk framework at enterprise level and evaluate risks of existing and new investments

Achievements:

• Treasury - managed liquidity strategy, currency and profit rate risks; driving ALM risk report to ALCO. Supported Treasury in achieving BBB- rating with S&P, 2007.
• Private Equity, Infrastructure, Real Estate (yielding and developmental) - reviewed risk of 30+ new acquisitions, made recommendations to Investment Committee before new investment were made; reviewed investment valuation with CFO (IAS 39, now IFRS 9).
• Regulatory Compliance - delivered Basel II/ ICAAP implementation.
• MLRO: developed client risk assessment and screening, liaising with regulators for AML/CFT issues.

Manama, Bahrain

Investcorp provides Private Equity and Hedge Funds investments with $13 billion assets under management.

Responsibilities:

• Manage ALM risks (liquidity pool, currency and interest rate risks) and evaluate risks of existing and new investments.

Achievements:

• Treasury: Management of excess liquidity, achieved return of +1,5% over Libor with less than 1% risk on average.
• Hedge Funds: review risk impact of hedge funds exposure on the balance sheet, ensuring current portfolio, structured products and new strategies risks are understood and reflect our risk appetite.
• Private Equity, Infrastructure, Real Estate: independently review risk of 40+ new acquisitions and provide recommendation to Investment Committee before new investment is made. Review all investments’ valuation with CFO.

Zurich, Switzerland

• Risk Controller - Apr 1999 – Feb. 2001 (after UBS/SBC merger): Developed UBS trading books VaR backtesting and stress-testing analysis (set-up of global and ad’hoc scenarios) to ensure that the bank capital remains sufficient even under certain stressed conditions.
• Governance Manager - Mar 1998 – Mar 1999 (merger UBS/SBC in July 1998): set-up Market Risk policies for UBS Group. Elaboration of market risk section of the annual report and letters to the shareholder.
• Risk Controller - Apr 1996 – Mar 1998 (before UBS/SBC merger): Value-at-Risk team. Established the general control of VaR figures in the UBS Value-at-Risk system, in collaboration with the regional and local UBS controllers.