Group Chief Risk Officer
African Guarantee Fund (AGF)
Quick Take
Design and oversee enterprise-wide credit risk frameworks across African Guarantee Fund's pan-African guarantee operations, advising the Board and Executive Committee on portfolio exposures, capital adequacy, and risk strategy.
15+ years of senior credit or enterprise risk management experience in financial institutions or DFIs, mastery of IFRS 9 ECL modelling and stress testing, and the gravitas to challenge C-suite executives on complex risk matters.
Lead a high-impact development finance institution unlocking SME financing across Africa, competitive salary (KES 600k–1.2m/mo), and the opportunity to shape risk culture and strategic governance at an institutional level.
Job Description
The African Guarantee Fund (AGF) is seeking a seasoned and visionary Group Chief Risk Officer (GCRO) to provide strategic leadership and independent oversight of the institution's enterprise-wide credit and portfolio risk management framework. Headquartered in Nairobi, Kenya, AGF operates across the African continent, providing guarantee and counter-guarantee products to financial institutions to unlock SME financing.
Reporting to the Board and Executive Committee, the GCRO will ensure that AGF's portfolio growth ambitions are pursued within prudent, Board-approved risk parameters — safeguarding capital adequacy, financial sustainability, the institution's development mandate, and its credit rating profile across Pan-African operations.
- Develop and continuously refine the Group Risk Strategy in alignment with AGF's mandate, risk appetite, and long-term institutional goals.
- Lead the design, implementation, and periodic review of credit risk policies, frameworks, and standards governing guarantee and counter-guarantee operations.
- Serve as the principal risk adviser to the Executive Committee and Board on credit risk trends, exposures, concentrations, and emerging market developments.
- Ensure strategic alignment between risk management, capital adequacy planning, and portfolio growth objectives.
- Oversee portfolio performance analytics including Expected Credit Loss (ECL) modelling, stress testing, and scenario analysis to inform capital planning and decision-making.
- Lead early warning systems and corrective action frameworks for deteriorating exposures across all regions and product lines.
- Establish and maintain a robust risk monitoring, remedial management, and recoveries framework.
- Drive high analytical standards, consistency, and quality assurance in transaction underwriting and risk reporting across all AGF regions and products.
- Champion a strong institutional culture of analytical rigour, accountability, and independent challenge within the Risk function.
- Ensure compliance with IFRS 9 requirements, regulatory expectations, and development finance best practices.
- Manage concentration risks, utilisation dynamics, and treasury-related exposures within approved risk tolerance levels.
- Must demonstrate at least 15 years of progressively senior experience in credit risk, portfolio risk, or enterprise risk management within a financial institution, development finance institution (DFI), or guarantee fund.
- Must be able to design and operationalise enterprise-wide credit risk frameworks covering guarantee, counter-guarantee, and treasury exposures.
- Must be capable of leading IFRS 9 Expected Credit Loss modelling, stress testing, and portfolio scenario analysis at an institutional level.
- Must have the gravitas and technical depth to advise C-suite executives and Board members on complex risk matters and emerging market dynamics.
- Must be able to build, lead, and mentor a high-performing, regionally distributed risk management team.
- Must demonstrate a track record of managing multi-country or Pan-African credit portfolios, with an understanding of SME financing ecosystems in emerging markets.
- Must hold an MBA, MSc, or MA in Finance, Risk Management, Economics, or a related discipline; professional certifications (e.g. FRM, CFA) are a strong advantage.
- Must be fluent in English; working proficiency in French is highly desirable given AGF's Francophone market coverage.
AGF offers a competitive executive compensation package commensurate with the seniority of the role and the Pan-African scope of responsibility. The estimated monthly gross remuneration for this role ranges between KES 600,000 and KES 1,200,000, inclusive of base salary and applicable allowances. Additional benefits typically associated with this level at a development finance institution include comprehensive medical cover, performance-related incentives, and international travel support. Specific package details will be confirmed during the selection process.
Ideal Candidate: A senior risk executive with deep expertise in development finance, SME guarantee programmes, or multi-country credit portfolio management who is ready to operate at Board level. You bring quantitative rigour, strategic thinking, and the leadership presence to drive a risk-conscious culture across a Pan-African institution. You are comfortable navigating complex regulatory environments and thrive in mission-driven organisations.
Do NOT apply if: You have fewer than 15 years of relevant experience, have not managed enterprise-wide risk frameworks, are unfamiliar with IFRS 9 or DFI operating models, or are seeking a purely operational or transactional risk role rather than a strategic leadership position.
- Prepare an updated CV and a cover letter clearly articulating your experience in enterprise risk management and your suitability for this role.
- Submit your application through the African Guarantee Fund's official careers portal or the platform on which this posting was listed.
- Applications must be submitted before 30 June 2026.
- Only shortlisted candidates will be contacted. Do not pay any fee at any stage of the recruitment process.
Requirements Breakdown
Must Have
- Minimum 15 years progressively senior experience in credit risk, portfolio risk, or enterprise risk management within a financial institution, DFI, or guarantee fund
- Proven ability to design and operationalise enterprise-wide credit risk frameworks covering guarantee, counter-guarantee, and treasury exposures
- Expert-level capability in IFRS 9 Expected Credit Loss modelling, stress testing, and portfolio scenario analysis
- Demonstrated experience advising C-suite and Board members on complex credit risk matters and emerging market dynamics
- Ability to build, lead, and mentor a high-performing, technically skilled risk team across multiple geographies
Nice to Have
- Experience working within guarantee funds or development finance institutions with a pan-African or emerging markets focus
- Knowledge of regulatory frameworks and compliance requirements across multiple African jurisdictions
- Track record of establishing early warning systems and portfolio remedial management frameworks
- Strong stakeholder management and change management capabilities in risk culture transformation
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Salary Context
Above-market compensation for Group Chief Risk Officer in Nairobi, reflecting seniority and development finance sector norms.
The KES 600k–1.2m/mo range is competitive for a senior C-suite risk leadership role in Kenya's financial sector, particularly for an international DFI. Salary is typically driven by years of experience, complexity of portfolio managed, and whether the institution operates across multiple countries.
About African Guarantee Fund (AGF)
African Guarantee Fund (AGF) is a pan-African development finance institution headquartered in Nairobi that provides guarantee and counter-guarantee products to unlock SME financing across the continent. Operating across multiple African countries, AGF plays a critical role in de-risking lending to small and medium enterprises, supporting financial inclusion and economic development. Joining AGF offers the chance to shape risk governance and credit strategy at a mission-driven institution with significant regional influence.
Likely Interview Questions
- 1
Walk us through a complex portfolio stress test you've designed and implemented. How did it inform capital planning or risk appetite decisions at your previous institution?
- 2
Describe your approach to building a risk management culture that balances independent challenge with executive decision-making. How would you establish that at AGF?
- 3
AGF operates guarantee products across diverse African markets with varying regulatory environments. How would you design a Group Risk Strategy that maintains consistency while accommodating regional variations?
- 4
Tell us about your experience with IFRS 9 ECL modelling. What challenges have you encountered, and how did you ensure accuracy and governance across multiple portfolios?
- 5
How do you approach managing concentration risk in a guarantee portfolio, and what early warning indicators would you implement to flag deteriorating exposures?
Application Tips
Quantify your impact: cite specific portfolio sizes managed, ECL model improvements, capital savings achieved, or risk losses mitigated—use concrete numbers to demonstrate scale and accountability.
Emphasise pan-African or emerging markets experience, particularly in guarantee funds, development finance, or institutions serving SME lending—this directly aligns with AGF's mandate.
Showcase your board-facing capability: describe times you've presented complex risk analysis to C-suite or board members, how you simplified technical concepts, and how your advice influenced strategy or capital decisions.
Career Path
Roles that lead here
Where this leads
Skills & Keywords
Honest Assessment
Green Flags
- Clear reporting line to Board and Executive Committee ensures strategic influence and independence—a hallmark of effective risk governance.
- Pan-African scope and development mandate offer significant impact potential and exposure to diverse risk challenges across emerging markets.
- Competitive salary range (KES 600k–1.2m/mo) and senior title reflect investment in attracting experienced talent for a critical governance role.
- Explicitly values analytical rigour, accountability, and independent challenge—signals a genuine commitment to strong risk culture rather than rubber-stamp compliance.
Watch Out
- Job description is truncated mid-sentence ('r' at the end), suggesting the posting may be incomplete or hastily prepared—clarify full responsibilities and team scope before committing.
- No explicit mention of benefits, bonus structure, or career development support, which are typical components of senior C-suite packages—request full benefits details during early conversations.
A Day in the Life
Monday typically opens with a portfolio performance review meeting, digesting overnight exposures and expected credit loss updates from regional teams across five countries, followed by a detailed credit committee preparation where you stress-test two large SME lending book scenarios. Mid-week you chair the Group Risk Management Committee, fielding questions from finance and operations on capital adequacy buffers and emerging concentration risks in Kenya and Uganda. Your afternoons oscillate between one-on-one mentoring of senior risk analysts on a complex ECL model audit, and drafting board papers on evolving risk appetite for guarantee products in fragile markets. You close the week in back-to-back calls with country risk heads troubleshooting deteriorating exposures and validating remedial action plans, while refining the annual Group Risk Strategy document ahead of Board sign-off.
Frequently Asked Questions
What qualifications do I need to be a Group Chief Risk Officer at African Guarantee Fund (AGF)?
You'll need a minimum of 15 years of progressively senior experience in credit risk, portfolio risk, or enterprise risk management within a financial institution or DFI, combined with expert-level proficiency in IFRS 9 ECL modelling, stress testing, and the ability to advise boards on complex risk strategy. A relevant degree (finance, economics, or actuarial science) is typically expected, though experience can substitute.
Is the Group Chief Risk Officer role at African Guarantee Fund (AGF) remote?
The posting specifies the location as Nairobi, suggesting the role is office-based at AGF's headquarters. However, given the pan-African scope, some travel across the continent for regional portfolio reviews and governance meetings is likely expected—confirm work-from-home and flexibility policies during interviews.
How much does a Group Chief Risk Officer earn at African Guarantee Fund (AGF)?
The posted salary range is KES 600,000–1,200,000 per month, which is competitive for a senior C-suite risk leadership role in Kenya's development finance sector. Actual compensation within that range will depend on years of experience, portfolio complexity managed, and regional expertise.
What are the career growth opportunities for this role?
As a Board-reporting role with executive influence, you're well-positioned to progress into CEO, COO, or Chief Operating Officer roles at AGF or similar pan-African institutions, or to join multilateral DFI boards. Strong risk expertise also opens doors to governance advisory and non-executive roles.
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