Risk Officer

Wasata Financial Securities; Doha; On-site; QAR 400,000 - 600,000; Full time

Job summary

An established industry player is seeking a dedicated Risk Officer to enhance risk management practices. This role involves identifying, assessing, and mitigating various risks that could impact the organization, ensuring compliance with legal requirements, and developing effective strategies to safeguard the company's interests. The Risk Officer will collaborate with multiple departments to foster a culture of risk awareness and continuous improvement. If you're passionate about creating a safe and sustainable work environment and have the expertise in finance and risk management, this opportunity is perfect for you.

Qualifications

• Bachelor’s degree in Finance, Accounting, or Economics required.
• Professional certifications in related fields are preferred.

Responsibilities

• Identify and assess potential risks affecting the company.
• Develop and implement risk management strategies and policies.

Skills

Risk Assessment

Risk Management Strategies

Analytical Skills

Communication Skills

Problem-Solving

Education

Bachelor’s degree in Finance

Professional certifications in related fields

Tools

MS Office

Job description

Risk Officer Role Description

The Risk Officer is responsible for assessing and managing risks that may impact the company by implementing policies, procedures, and controls to identify, measure, and mitigate potential risks. This includes preparing detailed reports on risk findings and strategies.

The role encompasses several key responsibilities aimed at minimizing the adverse effects of risks while ensuring sustainability and success for the company. Below are the primary duties of a Risk Officer:

1. Identifying and Assessing Risks

1. Analyze and identify potential risks that may affect the company, including financial, operational, legal, environmental, technological, and political risks.
2. Evaluate the impact and likelihood of these risks to prioritize mitigation efforts.

2. Developing Risk Management Strategies

1. Design strategies and plans to minimize or prevent risks.
2. Define preventive and corrective actions to be taken in case risks materialize.

3. Continuous Risk Monitoring

1. Regularly monitor risk developments and update risk management strategies and procedures as necessary.
2. Analyze external and internal changes that may introduce new risks.

4. Preparing Risk Reports

1. Generate periodic reports for senior management and internal audit teams detailing current and potential risks and how they are being managed.
2. Include estimates of potential losses and provide recommendations for decision-making.

5. Collaboration with Other Departments

1. Coordinate with departments such as Finance, Operations, and Marketing to ensure company-wide awareness of potential risks.
2. Train teams and employees on risk management practices.

6. Policy and Procedure Development

1. Develop internal policies and procedures to reduce risks and ensure business continuity.
2. Ensure compliance with international standards and best practices for risk management.

7. Compliance with Legal and Regulatory Requirements

1. Stay updated on local and international laws and regulations related to risk management.
2. Ensure the company adheres to all legal requirements and policies aimed at minimizing risks.

8. Analyzing Past Incidents

1. Investigate previous incidents or losses to identify root causes of risks and develop measures to avoid recurrence.
2. Document incidents and derive lessons learned.

9. Emergency Planning

1. Develop and implement contingency plans and rapid response procedures for risk events.
2. Ensure employees are trained to handle emergency scenarios.

10. Evaluating the Effectiveness of Risk Management Procedures

1. Assess the efficiency of strategies and processes in place for risk management and drive continuous improvement.
2. Conduct periodic reviews to ensure the systems and technologies used for risk management are effective.

11. Additional Duties

1. Perform other assigned tasks while ensuring no conflict of interest arises.

In summary, the Risk Officer is pivotal in creating a safe and sustainable work environment by comprehensively assessing risks, devising effective mitigation strategies, and managing risk-related challenges proactively.

Qualifications and Requirements

1. Bachelor’s degree in Finance, Accounting, or Economics. Professional certifications in related fields are preferred.
2. Advanced proficiency in MS Office applications.
3. Bilingual proficiency in English and Arabic (spoken and written).

Experience

1. Relevant experience in banking or financial securities firms.