- Number of Vacancies: 1
- Job Type: Full-time
- Experience: Minimum: 10-12 years
- Industry: Investment Banking/Asset Management
- Nationalities: Saudi National, GCC National, Expatriates with Transferrable Iqama
- Functional Area: Risk Management
- Location: Riyadh, Saudi Arabia
- Job Role: Head of Risk
- Reporting to: Chief Executive Officer
- JOB PURPOSE
To provide independent high-level risk oversight and reporting of the banks credit, market and operational risks to the CEO and Board of Directors and its subcommittees. And to be responsible for developing the risk appetite framework in line with the Board of Director’s risk tolerance level and developing high-level risk frameworks that establish the broad strategic risk parameters, and to ensure that the bank maintains a sound risk profile.
- MINIMUM QUALIFICATIONS/EDUCATION/EXPERIENCE/TRAINING/KNOWLEDGE
- Master’s degree in Finance, Investments, Risk Management, Applied Mathematics or related fields, from a reputable business school.
- Professional certification such as (CME1, FRM or PRM) is an advantage.
- Quantitative Finance/Financial Engineering qualification such as CQF is highly desirable.
- Professional certificate in leadership.
- Minimum 10-12 years’ experience in Risk Management in banking or investment sectors, including at least 6 years in a similar role.
- Work experience in managing broad range of risks.
Skills and Knowledge
- Excellent Presentation and Communication skills.
- Excellent Analytical, and Quantitative skills.
- Bilingual (Arabic and English).
- JOB DUTIES AND RESPONSIBILITIES
- Participates in formulating strategies, policies and objectives for the Risk Management Department
- Develops and executes comprehensive technical plans and programs, both short and long term, to achieve stated strategic objectives
- Monitors the Risk Management Department performance against pre-set performance goals and ensures that preventive/corrective actions are taken accordingly
- Sets the estimated budget for the Risk Management Department, and monitors the Department’s expenditures and financial performance in coordination with Finance Department
- Disseminates instructions and circulars in addition to take decisions necessary to fulfill endorsed plans and executive programs
- Recommends the Board of Director’s acceptable risk appetite through the development of Risk Appetite Framework
- Contribute to developing a comprehensive Risk Management guideline involving methodologies for determining exposure limits for all counterparts and providing broad risk parameters pertaining to other risk variables.
- Ensures risk assessments of all counterparts such as countries, financial institutions, corporations, pertaining to ABIC’s financing operations, and investment activities.
- Monitor risk policies and procedures regularly to reflect current business scope.
- Oversees risk profile and ensure compliance with risk limits set in risk management frameworks and policies and guidelines
- Escalate to CEO and BOD where concerned departments remedial actions are deemed inadequate
- Directs the implementation of operational risk framework, in the areas of people, processes and systems and for external events
- Ensure a risk culture to operations and financial units and serve as a technical reference for strengthening their capacity and awareness for risk management
- Approves emergency plans for all high probability risk, high impact and oversees the necessary budget for the implementation of contingency plans
Interested candidates please send your CV and contact details to email@example.com referencing ‘Head of Risk’ in the subject to discuss