Head of Risk Management

Consulture Search; Jeddah; On-site; SAR 300,000 - 540,000; Full time

Job summary

Consulture Search is seeking a Head of Risk Management to lead and enhance the Enterprise Risk Management framework, ensuring identification, assessment, monitoring, and mitigation of strategic and operational risks.

This role collaborates with senior management, boards, and business functions to promote a strong risk culture, support informed decision-making, and ensure regulatory compliance, business continuity, and robust risk reporting.

Qualifications

• Bachelor's Degree in Risk Management, Business Administration, Industrial Engineering, Finance, Insurance, or related discipline.
• Strong understanding of Enterprise Risk Management, Business Continuity, Governance and Regulatory Compliance.
• Knowledge of insurance regulatory requirements and risk-based supervision frameworks.
• Proficiency in risk assessment, reporting, and mitigation methodologies.

Responsibilities

• Develop, maintain, and enhance the Enterprise Risk Management Framework across the organization.
• Establish risk management methodologies, policies, and procedures aligned with objectives and regulatory expectations.
• Identify, assess, and monitor enterprise-wide risks across all functions; maintain risk inventories and registers.
• Develop and maintain the Risk Appetite Framework and Risk Appetite Statement; monitor risk exposures against KPIs.
• Coordinate risk-related regulatory submissions and reporting obligations with management and committees.
• Prepare risk reports, dashboards, and presentations for senior management and the Board.
• Oversee Business Continuity Management and Operational Resilience programs, including testing and recovery planning.
• Deliver risk awareness training and support audit activities related to risk management.

Skills

Enterprise Risk Management

Risk Assessment

Regulatory Compliance

Governance

Business Continuity

Education

Bachelor's Degree

Job description

About the Role

The Head ofRisk Management is responsible for leading and enhancing the organisation's Enterprise Risk Management (ERM) framework, ensuring effective identification, assessment, monitoring, and mitigation of strategic, operational, financial, regulatory, and emerging risks.

The role will work closely with senior management, board committees, and business functions to promote a strong risk culture, support informed decision-making, and ensure compliance with all applicable regulatory requirements. The Risk Manager will also oversee business continuity initiatives, risk reporting, governance activities, and risk-based supervision requirements.

This role is open to Saudi Nationals only.

Key Responsibilities

1. Enterprise Risk Management

• Develop, maintain, and enhance the Enterprise Risk Management Framework.
• Establish risk management methodologies, policies, and procedures across the organisation.
• Ensure risk management practices are aligned with strategic objectives and regulatory expectations.

2. Risk Identification & Assessment

• Facilitate enterprise-wide risk assessments across all business functions.
• Identify emerging, operational, strategic, financial, and regulatory risks.
• Maintain and regularly update the corporate risk register and risk inventories.

3. Risk Appetite & Monitoring

• Develop and maintain the Risk Appetite Framework and Risk Appetite Statement.
• Monitor risk exposures against approved tolerance levels and key risk indicators.
• Escalate material risk issues and breaches to senior management and relevant committees.

4. Governance & Regulatory Compliance

• Support the implementation of effective risk governance practices across the organisation.
• Ensure compliance with applicable regulatory requirements, guidelines, and standards.
• Coordinate risk-related regulatory submissions and reporting obligations.

5. Risk Reporting & Committee Management

• Prepare risk reports, dashboards, and presentations for senior management and the Board.
• Act as Secretary to the Risk Management Committee and maintain committee records.
• Track risk actions, committee decisions, and management responses.

6. Business Continuity & Operational Resilience

• Develop and maintain Business Continuity Management and Operational Resilience frameworks.
• Coordinate business continuity testing, crisis management exercises, and recovery planning.
• Monitor the effectiveness of continuity plans and recommend enhancements.

7. Risk Culture, Training & Assurance

• Deliver risk awareness programmes and training initiatives across the organisation.
• Support internal and external audit activities relating to risk management.
• Review contracts, policies, and business initiatives from a risk and control perspective.

Education & Qualifications

• Bachelor's Degree in Risk Management, Business Administration, Industrial Engineering, Finance, Insurance, or a related discipline.
• Strong understanding of Enterprise Risk Management, Business Continuity Management, Corporate Governance, and Regulatory Compliance.
• Knowledge of insurance regulatory requirements and risk-based supervision frameworks.
• Proficiency in risk assessment, risk reporting, and risk mitigation methodologies.
• Professional risk management certification would be advantageous but is not mandatory.

Experience

• Minimum 5–7 years of experience in Risk Management, Insurance, Business Continuity, Corporate Governance, or Fraud Management.
• Experience within the insurance sector is highly preferred.
• Demonstrated experience in enterprise risk assessment, risk reporting, and committee governance.
• Experience working with regulators and preparing regulatory submissions and reports.