A leading financial services entity in Riyadh is recruiting for a Chief Risk Officer who will be responsible to providing a second line of defense function for the company, delivering a set of strategic capabilities around risk management (strategic, credit, operational, market, liquidity and conduct risks)
• Developing and implementing an Enterprise Risk Management Framework and related risk policies reflecting the entity's approved Risk Appetite Statement in a manner that is aligned with the size, scale and complexity of the business and taking into account regulatory expectations and requirements
• Embed a robust and effective risk management framework and risk management infrastructure covering credit risk, market risk, liquidity risk, financial risk, operational risk, reputational risk, conduct and strategic risk by fully engaging with the Board, Senior Leadership Team, direct reports and stakeholders. Ensure it remains fit for purpose and proportionate to the size and complexity of the bank’s business as it grows, as well as the Bank’s approved Risk Appetite Statement
• Ensure there is an appropriate framework in place for the identification, measurement, mitigation, monitoring and reporting of significant risks, provide oversight and challenge of those risks on an ongoing basis and ensure that the data used by the bank to assess its risks are fit for purpose in terms of quality, quantity and breadth. To support the delivery of the framework using key tools such as risk and control self-assessment, monitoring and oversight activities and thematic reviews
• Responsible for the calibration of the company's risk appetite and ensure that the risks are quantified and linked to the capital and liquidity needs of the bank through its ICAAP and ILAAP documents. Reports to the Executive Committee, Management Risk Committee, Board Risk Committee and Board on the bank’s risk exposures relative to its risk appetite and risk capacity
• Monitor risk limits, early warning signals and alerts to ensure they are not breached and that they are brought to the attention of management and the BRC on a regular basis.
• Provide oversight and challenge of information security and business continuity risks facing the Group. Report any gaps to the Management Risk Committee and Board Risk Committee.
• Strong education background; relevant professional qualification is a plus
• Established financial and accounting acumen
• Ability to make robust/tough decisions which may be contrary to the business wishes.
• Understand and interpret complex business requirements
• Exposure to demanding operational environments to gain insight into the most effective risk management applications, recovery & collection techniques and legal solutions
• A high level of professional competence which helps to determine solutions around appropriate risk measures, risk processes, risk monitoring and management