Job Title: Head of Risk
Location: Riyadh, Saudi Arabia
Role Summary:
A leading Saudi-based investment bank is seeking a Head of Risk to lead the Operational Risk function, oversee risk frameworks, and ensure effective identification, assessment, and mitigation of risks across the organization. The role will provide strategic guidance, strengthen risk controls, and support regulatory compliance, while acting as a key advisor to senior management.
Core Responsibilities:
- Lead and maintain the Operational Risk framework, ensuring alignment with Group policies and updating policies and procedures as required.
- Conduct risk assessments for new or changed products, services, and operational initiatives, including NPPA (New Product and Process Approval) coordination and approval.
- Oversee Operational Risk & Control Assessments (ORCA) and monitor Key Risk Indicators (KRIs) to track risk levels and control effectiveness.
- Monitor operational risk issues, ensure resolution of action plans, and escalate critical risks to senior management and risk committees.
- Prepare and submit operational risk reports to management, regulatory authorities, and internal stakeholders.
- Drive risk management awareness and training programs across the organization to strengthen risk culture.
Candidate Requirements:
- Bachelor's degree in Risk Management, Finance, Law, Business Administration, or related discipline; professional certifications (e.g., CME-1, CMA) preferred.
- 812 years of experience in operational risk management, audit, compliance, or legal functions within financial services.
- Strong knowledge of regional regulations (e.g., Saudi Central Bank, DFSA, FSA) and ability to implement requirements across products and processes.
- Proven experience managing risk frameworks, performing risk assessments, and driving mitigation strategies at a senior level.
- Excellent analytical, problem-solving, stakeholder management, and leadership skills.
- Behavioral competencies: strategic thinker, team-oriented, initiative-taking, high personal integrity, and committed to deadlines.
