Chief Risk Officer

Dammah; Riyadh; On-site; SAR 360,000 - 720,000; Full time

Job summary

Dammah in Riyadh seeks a senior Risk Manager to develop and implement Enterprise Risk Management frameworks and governance across the organization. You will advise the Risk & Credit Committee on exposures, define risk appetite, and promote a strong risk culture.

You will finalize RCC risk reports for SAMA, implement awareness programs, and oversee Credit Risk Framework, IFRS 9 ECL modeling, and regulatory reporting.

Qualifications

• Experience implementing Enterprise Risk Management frameworks and governance structures.
• Advising RCC on risk exposures and emerging threats.
• Defining and maintaining risk appetite statements and limits.
• Promoting a strong risk culture across the organization.
• Finalizing Quarterly Risk Reports for RCC and submission to SAMA.
• Implementing risk awareness programs in line with regulatory guidelines.
• Lead design and oversight of Credit Risk Framework including underwriting standards and risk ratings.
• Oversee credit approvals, large exposures, and high-risk obligors.

Responsibilities

• Develop and implement ERM frameworks and governance structures.
• Advise leadership on risk exposures and threats.
• Maintain risk appetite and limits.
• Foster a strong risk culture.
• Prepare RCC risk reports and ensure timely submission to SAMA.
• Roll out risk awareness initiatives.
• Lead credit risk framework design and monitoring.
• Oversee credit approval processes and large exposures.
• Perform portfolio stress testing and ECL modeling.
• Ensure IFRS 9 compliance and document risk reporting processes.

Skills

ERM frameworks

ISO 31000 COSO

Credit risk management

Regulatory compliance

IFRS 9 ECL modeling

Model risk management

ECL modelling

Stress testing

SAMA liaison

Job description

- Develop and implement Enterprise Risk Management frameworks, policies (Operational Risk

Management, BCM & Fraud Risk Management), and governance structures by using ISO 31000 or COSO

8 methodology covering all aspects of risks across organization.

- Advise the Risk & Credit Committee on risk exposures and emerging threats.

- Define and maintain the organization’s risk appetite statement and limits.

- Promote a strong risk culture across the organization.

- Finalize Quarterly Risk Reports for Risk & Credit Committee (RCC) for their updates, approvals and timely

submit to Saudi Central Bank (SAMA).

- Implement risk awareness programs covering all aspects in line with regulatory guidelines.

• Credit Risk Management

- Lead, design and oversight of the Credit Risk Framework, including underwriting standards, risk rating,

adherence to SIMAH accuracy score and portfolio monitoring.

- Oversee credit approval processes, including large exposures and high-risk obligors.

- Perform portfolio stress testing by using scenario-based methodology in alignment with aligned

regulatory standards.

- Develop & implement robust Early Warning Systems and remediation mechanism for deteriorating

exposures.

- Manage concentration risk, collaterals, and sector limits.

- Ensure compliance with IFRS 9 financial instruments, particularly Expected Credit Loss (ECL) modeling.

- Oversee design, validation, and ongoing performance of ECL models (PD, LGD, EAD).

- Ensure appropriate staging criteria (Stage 1, 2, 3) and significant increase in credit risk methodologies.

- Collaborate with finance to ensure accurate provisioning, disclosures, & financial reporting.

- Govern model risk management, including independent validation and back testing.

• Regulatory Compliance & Reporting

- Ensure compliance with SAMA and other regulatory frameworks.

- Act as the primary liaison with regulators on risk-related matters.

- Oversee submission of risk and capital adequacy reports.

- Ensure proper documentation and audit trails for all risk processes.

Skills Required

Job Information

Job Type Full Time

Job Industry Accounts, Finance & Financial Services

Functional Area Accounts, Finance & Financial Services