Auction Risk Reporting Supervisor

The National Bank of Iraq (NBI) was founded in 1995 as a publicly traded, private sector company, offering comprehensive banking services to individuals and businesses in Iraq. As a result of NBI’s success and to fuel future growth, its capital was increased from the initial IQD 400 million to IQD 250 billion (USD 215 million) in December 2013. 

In 2005, Capital Bank Jordan acquired majority shares (61.85%) in NBI, allowing NBI to evolve its business offerings, strengthen its global footprint and promote financial inclusion across the country. 

With its extensive network of correspondent banks, Capital Bank stands as NBI’s gateway to world economies, facilitating internal and external remittances, granting lines of credit, as well as offering trade finance services. 

NBI operates a modern core banking system to support its growth and customer services. Capital Bank and its subsidiaries audit all accounts through Ernst and Young, and report financials in accordance with International Accounting Standards. 

NBI has earned a BB rating by Capital Intelligence, the international credit rating agency. It further received a ‘Good’ rating by the Central Bank of Iraq.

Today, NBI has more than 51 branches in all major cities in Iraq, and a branch in KSA. 

The Auction Risk Reporting Supervisor is responsible for supervising and organizing the department’s activities and ensuring the accuracy and completeness of data reviewed by the team. The role supports the four-eyes principle, strengthens data quality, and reduces the Bank’s exposure to financial, operational, and reputational risks associated with non-compliance with the Central Bank of Iraq’s instructions regarding foreign currency auction activities.

Key Responsibilities

• Supervise departmental employees and review their work to ensure the accuracy and completeness of submitted data.
• Review documentation related to transfer requests, including shipping documents received at a later stage.
• Assess supporting documents and verify that their value and details are consistent with the relevant transfer requests.
• Coordinate the review and verification of foreign currency auction activities with Auction Follow-up, Auction Control, and Auction Operations.
• Monitor departmental activities and processes and report relevant observations to the direct manager.
• Follow up with employees to ensure that assigned tasks are completed accurately and on time.
• Identify risks resulting from missing or incomplete documentation and provide recommendations to mitigate them.
• Monitor the implementation of corrective actions and risk-mitigation recommendations.
• Escalate significant findings, deficiencies, and developments to the direct manager.
• Train employees on departmental procedures, controls, and responsibilities.
• Monitor the department’s archive and ensure that records are maintained accurately and sequentially.
• Perform any other duties assigned by the direct manager.

Technical Responsibilities

• Supervise the next-business-day review of transactions processed by departments involved in foreign currency auction activities.
• Verify that participation in the foreign currency auction is limited to permitted purposes.
• Confirm that all required documents and supporting shipping records are available in the archiving system.
• Notify the relevant departments of identified deficiencies and follow up on the required corrective actions.
• Review import licences and shipping documents, identify missing information, and monitor its completion.
• Ensure that all relevant data and documents are properly archived in the department’s designated shared folder.
• Prepare and submit periodic and monthly reports covering completion rates, identified observations, and outstanding documentation.
• Develop and improve preventive controls to address identified internal risks that may affect the Bank.
• Perform any additional duties assigned by the direct manager.

Qualifications and Experience

• Bachelor’s degree in Business Administration, Economics, or an equivalent field.
• At least three years of banking experience in a similar or relevant role.

Required Knowledge

• Knowledge of the laws, regulations, and procedures governing the Bank’s activities.
• Knowledge of the Central Bank of Iraq’s instructions related to foreign currency auction activities.
• Understanding of risk management, document verification, and banking control requirements.

Required Skills and Competencies

• Planning and organisational skills.
• Communication and interpersonal skills.
• Supervisory and administrative skills.
• Time-management skills.
• Follow-up and coordination capabilities.
• Decision-making and problem-solving skills.
• Advanced analytical skills.
• Accuracy and attention to detail.

Training and Development

• Training in risk management and risk assessment.
• Training in supervisory and administrative skills.
• English-language training.
• Training in Microsoft Excel and its business applications.