HomeGBIXSpotlight: Waqas Zafar
Global Bankers Institute (GBI)

GBIX: Waqas Zafar


Waqas Zafar


Waqas Zafar, is an experienced expert in Risk Management, Basel II and Market Research. Additional areas of expertise include, Operational Risk Management, Enterprise Risk Management, COSO and Basel II framework, Business, Market and Product Plans and Market Research, Feasibility Studies, Financial Model and Projections, Financial Audit & Review. Waqas Zafar has worked with KASB Bank, Benchmatrix Private Limited, Anjum Asim Shahid Rahman Chartered Accountant (member firm of Grant Thornton International, as well as Karafarin Bank Iran, Burj Bank Limited, Meezan Bank Limited, UGB Bahrain, Royal Bank of Scotland (RBS), EFG Hermes, National Bank of Pakistan, ACCA, International Finance Corporation (IFC) and State Bank of Pakistan (SBP).


Waqas Zafar's skills include:

  • Auditing
  • Basel II
  • Business Planning
  • Business Strategy
  • Business Valuation
  • Corporate Finance
  • Credit Risk
  • Due Diligence
  • Enterprise Risk Management
  • Feasibility Studies
  • Finance
  • Financial Modeling
  • Financial Projections
  • Financial Risk
  • Fundamental Analysis
  • Governance
  • IFRS
  • Internal Audit
  • Internal Controls
  • Management
  • Management Consulting
  • Market Research
  • Operational Risk Management
  • Risk Assessment
  • Risk Management
  • Strategy
  • Valuation


Waqas Zafar's experience includes:

KASB Bank AVP & Operational Risk Manager - January 2013 – Present (9 months)- Karachi, Pakistan
  • Reporting to Head Risk Management
  • Reporting to Head Risk Management
  • Responsible for development, implementation and management of Operational Risk Management Framework across the bank
  • Recommend ORM strategy to senior management
  • Review and update ORM Policy and Procedures
  • Conducts Risk and Control Self Assessment (RCSA) workshops with departments
  • Suggest and monitor Key Risk Indicators (KRI) of departments
  • Assist in Business Continuity Planning
  • Assist in Internal Capital Adequacy Assessment Planning (ICAAP) of the bank
Benchmatrix Private Limited Senior Manager Risk Advisory - September 2010 – January 2013 (2 years 5 months)- Karachi, Pakistan
  • Direct reporting to CEO.
  • Lead teams in advisory projects and assisted in the software implementation process by coordinating with Business and Software people.
  • Assists in designing and improvement of ORM software.
  • Prepares business plans for market penetration and sales creation.
Grant Thornton International Senior Associate - Anjum Asim Shahid Rahman Chartered Accountant (member firm of Grant Thornton International) - January 2010 – October 2010 (10 months)- Karachi, Pakistan
  • Participated in assignment related to Business Plan, Strategy, Market Research, Feasibility Studies, Due diligence and Valuations for various financial and non financial institutions.
Grant Thornton International Associate - Anjum Asim Shahid Rahman Chartered Accountant (member firm of Grant Thornton International) - January 2008 – December 2009 (2 years)- Karachi, Pakistan
  • Part of Strategy and Growth team in Advisory Services of Anjum Asim Shahid Rahman, member firm of Grant Thornton International.
Grant Thornton International Trainee - Anjum Asim Shahid Rahman Chartered Accountant (member firm of Grant Thornton International) - April 2007 – December 2007 (9 months)- Karachi, Pakistan
  • Assisted teams in Business Risk Services, Transaction Advisory, Corporate finance and Strategy related projects.
FDM Capital and Securities Research Anlayst - December 2006 – March 2007 (4 months)- Karachi, Pakistan
  • Prepared a Research Report on the Tobacco Sector, highlighting major factors influencing the cigarette industry
  • Team member development of "FDM Knock", a daily broadcast summarizing the news and changes in the Karachi Stock Market


Waqas Zafar's project work includes:

Karafarin Bank Iran Development and Implementation of ORM framework - November 2012 – December 2012

Project was the initiative Karafarin Bank senior management and E&Y middle east office. Project objective was to develop ORM strategy, ORM policy and procedures for implementation of Operational Risk Management across the Karafarin Bank. The project also included building up of Risk Register through business profiling and Risk and Control Self Assessment (RCSA) workshops. For the purpose of of monitoring, Risk Indicators were identified related to high scoring key risks. Process with high residual risks were identified and proper mitigation plan were recommended to the senior management for their action.
Staff were trained for better understanding of ORM concepts and adoption of their respective roles as delineated in the policy.

Burj Bank Limited Development and Implementation of ORM framework - October 2011 – March 2012

Lead the team for development and implementation of Operational Risk Management (ORM) framework at Burj Bank Limited.
Project Included:

  • Development of ORM Strategy
  • Development of ORM Policies & Procedure
  • Training of Senior Management, ORM department, ORM Coordinators and staff.
  • Collection of loss data
  • Conducted RCSA
  • Developing and collecting KRIs
  • Installation, Configuration and training of ORM software, RiskNucleus
Meezan Bank Limited Development of Integrated Risk Management Strategy - March 2012 – May 2012

Development of strategy for adopting integrated risk management framework. The project included development of Risk Appetite Matrix and Action Plan for Credit, Market and Operational Risks.

UGB Bahrain Development and Implementation of ORM framework and software - February 2011 – April 2011

Development and Implementation of Operational Risk Management framework and software at United Gulf Bank, Bahrain
Project Included:

  • Development of ORM three year strategy
  • Development of ORM policies and procedures
  • Training of Risk department and staff on ORM and software
  • Installation, configuration and UAT of ORM software, RiskNucleus
  • Risk and Control Self Assessment (RCSA) of selected departments
Banking Sector Buy-Side Advisory Services - March 2010

Due Diligence and Valuation of Pakistan operations of Royal Bank of Scotland (RBS) for acquisition by EFG Hermes

National Bank of Pakistan Business Plan - November 2009 – January 2010

Team member for development of five year business plan for National Bank of Pakistan (NBP) including strategies for each business lines and respective financial projections.

Obeikan Bookstore Company Operational Review and Physical Inventory - June 2012 – July 2012

Lead the team for physical inventory of Obeikan Bookstore Company in Kingdom Saudi Arabia. Project included operational review and physical inventory of 25 bookstores across KSA and a central warehouse at Riyadh.

ACCA Pakistan Office Internal Audit of ACCA Pakistan Office - February 2009 – March 2009

Internal Audit of ACCA including review of financial statement and operations.

International Finance Corporation (IFC) SME Market Segmentation Study(Link) - July 2010 – December 2010

International Finance Corporation (IFC) in liaison with State Bank of Pakistan (SBP) and assisted by Grant Thornton Pakistan who conduct a secondary research and a primary survey of businesses within the top ten SME sectors / subsectors of Pakistan to determine banking and financial needs of the sector.
The research exercise identified top ten priority SME sub sectors of Pakistan and their respective needs of financial services.
Accordingly, appropriate and generic product plans were designed as model for financial institutions to meet the banking needs of SME sector/sub-sectors.

Contact Information

Click here to review a full CV for Waqas Zafar.

This email address is being protected from spambots. You need JavaScript enabled to view it.



Follow Waqas!