African Development Bank appoints Nourredine Lafhel Acting Chief Risk Officer
An experienced risk management professional, Nourredine has more than
twenty (20) years of experience in finance and risk management
ABIDJAN, Ivory Coast, April 7, 2020/ -- The African Development Bank Group (www.AfDB.org) is pleased to announce the appointment of Mr. Nourredine Lafhel as Acting Chief Risk Officer, effective 6th April 2020.
Lafhel, a Canadian national, is currently the Sovereign Credit and
Market Risk Division Manager (PGRF3), in the Directorate of the Group
Risk Management Function of the African Development Bank Group. An
experienced risk management professional, Nourredine has more than
twenty (20) years of experience in finance and risk management. He is a
proven leader in the development of innovative solutions and strategies
for balance sheet optimization, capital adequacy and market risk
management. He has worked in several continents including North America, Middle East and Africa.
In his role as Division Manager, Nourredine, has had extensive
experience in reviewing market risk, sovereign portfolio reports,
sovereign credit policy and the Bank’s credit policy and graduation. He
has been instrumental in defining the Bank’s economic capital
requirements for market, credit and operational risk. In particular,
Nourredine was part of the team that developed the Room to Run
initiative - the Bank’s innovative $1 billion synthetic securitization
deal.
Before joining the Bank, Lafhel held senior treasury and credit risk
roles at S&P Global Ratings as Director, Sovereign and International Public Finance Rating, and as Senior Director, Credit Risk Management
& Rating at Acreditus, in the United Arab Emirates. In these roles,
Nourredine provided strategic advice, policy guidance and analytical
support to MENA sovereign entities in the area of capital markets,
credit risk management and ratings on confidential basis.
Prior to this, he served at the Bank of Canada as a Principal Credit
Risk officer, where he was responsible for the implementation of the
internal rating methodologies and scorecards of sovereigns, GREs,
supranational institutions, and banks. He led credit risk assessments
and internal ratings of investment and trading counterparties.
Lafhel is fluent in French, English and Arabic, and holds a Master’s
Degree in Applied Finance from the University of Quebec at Montreal –
ESG School of Management, Canada and a Bachelor (Honours) in Financial
Management from the Faculty of Law, Economics and Social Sciences, at
University Hassan II of Casablanca in Morocco.
Commenting on the appointment, Dr. Akinwumi Adesina, President of the
African Development Bank said: “Nourredine is an experienced and
well-respected professional who has played an active role in the Bank’s
asset liability management and credit risk committees. He has provided
critical technical direction in the development of innovative solutions
and strategies for balance sheet optimization including sovereign
exposure exchange agreement, sovereign risk transfer, Room2Run and the
AFAWA risk sharing mechanism. I am confident that Nourredine will
continue to provide critical leadership and innovation to ensure that we maintain our triple A rating.”
About the African Development Bank Group:
The African Development Bank Group (AfDB) (www.AfDB.org) is Africa’s premier development finance institution. It comprises three distinct entities: the African Development Bank (AfDB), the African
Development Fund (ADF) and the Nigeria Trust Fund (NTF). On the ground
in 37 African countries with an external office in Japan, the AfDB
contributes to the economic development and the social progress of its
54 regional member states.
For more information: www.AfDB.org
Link: African Development Bank Group
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