Risk Management Officer Job Vacancy in Asmara, Eritrea – Banking/Finance

Job Description

Position: Risk Management Officer

Company: Commercial Bank of Eritrea

Location: Asmara, Eritrea

Experience: 3-5 years

Education: Bachelor’s degree in Finance, Economics, or related field

Employment Type: Full-time

Industry: Banking/Finance

Department: Risk Management

Salary: SSP 150,000 – SSP 250,000 per month

Vacancies:1

Company Overview

Commercial Bank of Eritrea is the leading financial institution in the nation, offering a comprehensive range of banking services to individuals, businesses, and government entities. With a legacy spanning over three decades, the bank has built a reputation for stability, innovation, and community focus. As a cornerstone of Eritrea’s economic development, the bank supports a wide array of initiatives that drive growth, financial inclusion, and sustainable development across the country. The institution prides itself on a culture of integrity, professionalism, and continuous improvement, making it an attractive destination for ambitious professionals seeking meaningful career pathways.

As part of its commitment to excellence, Commercial Bank of Eritrea continuously invests in talent acquisition and development, ensuring that its workforce is equipped with the skills and knowledge required to navigate the evolving financial landscape. The bank’s strategic vision emphasizes digital transformation, risk resilience, and customer-centric solutions, positioning it as a forward‑looking leader in the banking sector. This environment offers unparalleled exposure to cutting‑edge financial practices, regulatory frameworks, and risk management methodologies, making it an ideal platform for professionals eager to contribute to the nation’s financial stability and growth.

Job Overview

The Risk Management Officer will play a pivotal role in identifying, assessing, and mitigating financial and operational risks that could impact the bank’s performance and reputation. Reporting to the Head of Risk Management, the officer will collaborate closely with cross‑functional teams to develop robust risk frameworks, conduct comprehensive risk analyses, and ensure compliance with local and international regulatory standards. This position is central to safeguarding the bank’s assets, enhancing decision‑making processes, and supporting the overall strategic objectives of Commercial Bank of Eritrea. For more information about the organization and its career opportunities, please visit Commercial Bank of Eritrea Careers.

Key Responsibilities

• Conduct thorough risk assessments across credit, market, operational, and liquidity domains.
• Develop and maintain risk measurement models, stress‑testing scenarios, and risk dashboards.
• Monitor compliance with Basel III, local banking regulations, and internal risk policies.
• Prepare detailed risk reports for senior management and the Board of Directors.
• Collaborate with business units to embed risk awareness into product development and daily operations.
• Identify emerging risk trends and recommend proactive mitigation strategies.
• Assist in the design and implementation of risk mitigation controls and corrective action plans.
• Participate in internal and external audit processes related to risk management.

Required Skills

• Strong analytical and quantitative abilities with proficiency in statistical tools.
• In‑depth knowledge of banking risk frameworks, Basel regulations, and financial risk modeling.
• Excellent communication skills for presenting complex risk concepts to non‑technical stakeholders.
• Proficiency in risk management software and advanced Excel functions; experience with SAS, R, or Python is a plus.
• Attention to detail and a proactive approach to problem‑solving.
• Ability to work independently and as part of a multidisciplinary team.

Education

A minimum of a Bachelor’s degree in Finance, Economics, Business Administration, or a related discipline is required. Candidates holding professional certifications such as FRM (Financial Risk Manager) or CFA (Chartered Financial Analyst) will be given preferential consideration.

Experience

Applicants should possess 3 to 5 years of relevant experience in risk management, credit analysis, or financial analysis within a banking or financial services environment. Experience with regulatory reporting and familiarity with Eritrean banking regulations will be advantageous.

Salary

The successful candidate will receive a competitive monthly salary ranging from SSP 150,000 to SSP 250,000, commensurate with experience and qualifications. Performance‑based incentives and annual bonuses are also part of the compensation package.

Benefits

• Comprehensive health insurance coverage for the employee and eligible dependents.
• Retirement savings plan with employer contributions.
• Paid annual leave, sick leave, and public holidays in accordance with Eritrean labor law.
• Professional development allowance for certifications and training.
• Employee assistance program and wellness initiatives.

Training

• On‑boarding program covering bank policies, risk frameworks, and compliance standards.
• Continuous learning opportunities through workshops, webinars, and industry conferences.
• Mentorship from senior risk management leaders to accelerate career growth.

Working Environment

Commercial Bank of Eritrea offers a collaborative, inclusive, and dynamic workplace located in the heart of Asmara’s financial district. The office environment is equipped with modern technology, secure data systems, and comfortable workspaces that promote productivity and teamwork. Employees benefit from a culture that values diversity, ethical conduct, and a strong sense of community, fostering an atmosphere where innovative ideas thrive.

Application Process

Interested candidates are invited to submit their updated CV and a cover letter outlining their suitability for the role through the online application portal on the bank’s website. Applications will be reviewed on a rolling basis, and shortlisted applicants will be contacted for a preliminary interview followed by a technical assessment and final interview with senior management.

Equal Opportunity Statement

Commercial Bank of Eritrea is an equal opportunity employer. We celebrate diversity and are committed to creating an inclusive environment for all employees, regardless of gender, race, religion, age, disability, or any other protected characteristic. Our hiring practices are designed to ensure fairness and transparency, supporting the principle of merit‑based recruitment.