Risk Officer

Daman Securities LLC; Dubai; On-site; AED 350,000 - 650,000; Full time

Job summary

Daman Securities LLC seeks a Risk Officer to identify, analyze, and mitigate financial, operational, and market risks across the firm in Dubai. You will develop comprehensive risk management policies and ensure regulatory AML compliance while focusing on leveraged accounts and cross‑department collaboration.

The role requires strong analytical abilities and experience with risk modeling, reporting KRIs to senior management, and coordinating with Trading, Operations, IT, and Compliance teams to

Qualifications

• Bachelor's degree in Finance, Economics, Business Administration, Risk Management, or related field.
• This role falls under regulation by UAE CMA/SCA; accreditation required.
• MBA or relevant advanced degree preferred.

Responsibilities

• Identify potential financial, operational, and market risks affecting Daman Securities.
• Conduct regular risk assessments and audits to evaluate risk controls.
• Analyze market trends, financial statements, and economic data to predict risks.
• Use quantitative models to forecast impact of risk scenarios.
• Develop and implement risk management strategies and policies.
• Monitor risk exposure levels and report findings to senior management.
• Ensure AML policies including customer due diligence, monitoring, and suspicious activity reporting.

Skills

Financial markets

AML regulations

Risk assessment

Analytical skills

Communication skills

Education

Bachelor's degree in Finance/Economics/Business Administration/Risk Management

MBA or advanced degree preferred

CFA/FRM/PRM or equivalent certifications desirable

Tools

Risk management software

Job description

The Risk Officer is responsible for identifying, analyzing, and mitigating internal and external risks that could threaten Daman Securities' financial position and operational efficiency. This job involves developing comprehensive risk management strategies, policies, and procedures to safeguard the company's assets and ensure regulatory compliance, with a particular focus on money laundering prevention and managing risks related to leveraged accounts.

KEY DUTIES & RESPONSIBILITIES

• Identify potential financial, operational, and market risks affecting Daman Securities.
• Conduct regular risk assessments and audits to evaluate the effectiveness of risk controls.
• Analyze market trends, financial statements, and economic data to predict potential risks.
• Use quantitative models to forecast the impact of various risk scenarios.

Risk Strategy & Mitigation

• Develop and implement risk management strategies and policies.
• Recommend solutions and strategies to mitigate identified risks, including the use of financial instruments such as derivatives and insurance.
• Monitor risk exposure levels and report findings to senior management.
• Prepare detailed reports and presentations on risk metrics, trends, and key risk indicators (KRIs).

AML & Regulatory Compliance

• Ensure compliance with relevant regulations and industry standards, particularly AML regulations.
• Develop and implement AML policies and procedures, including customer due diligence, transaction monitoring, and suspicious activity reporting.
• Liaise with regulatory bodies and ensure timely and accurate reporting.

Leveraged Account Risk Management

• Monitor and manage the risks associated with leveraged accounts.
• Assess the impact of market fluctuations on leveraged positions and ensure sufficient collateral is maintained.
• Implement risk mitigation strategies to manage potential margin calls and liquidation risks.

Stakeholder Coordination & Incident Response

• Work closely with other departments, including Trading, Operations, IT, and Compliance, to develop integrated risk management solutions.
• Communicate risk policies and processes to all stakeholders within the firm.
• Lead efforts to manage identified risks and coordinate response efforts during critical incidents.
• Uphold company values throughout business practices and utilize sound judgment in decision making.
• Any other additional duties as may be required by management based on needs of the business.

POSITION REQUIREMENTS

Educational Qualifications

• Bachelor's degree in Finance, Economics, Business Administration, Risk Management, or a related field.
• This role falls under the regulatory oversight of the UAE Capital Market Authority (CMA), formerly the Securities and Commodities Authority (SCA); attainment of the requisite accreditation is required.
• MBA or a relevant advanced degree is preferred.
• Professional certifications such as CFA, FRM, PRM, or equivalent are highly desirable.

Work Experience

• A minimum of 5 to 7 years in a related field.
• Full and practical knowledge of the regulations and policies of the UAE Capital Market Authority (CMA) — formerly the Securities and Commodities Authority (SCA) — and related UAE laws.
• Proven experience in risk management or compliance roles.
• Proven knowledge of industry best practices and cross-border transactions.
• Experience and published research relating to fixed income, equity, and currency markets.

Skills & Personal Attributes

• In-depth knowledge of financial markets, securities, brokerage operations, and AML regulations.
• Strong analytical skills and proficiency in risk assessment tools and software.
• Excellent communication, presentation, and interpersonal skills.
• Ability to work under pressure and manage multiple tasks in a dynamic environment.
• Strong ethical standards and high levels of integrity.