Head of Risk - Saudi Arabia

FlapKap; Riyadh; On-site; USD 60,000 - 120,000; Full time

Job summary

An innovative startup is seeking a Head of Credit Risk to lead its financial operations and enhance credit risk management for SMEs in the MENA region. This role involves developing a robust framework, guiding a dynamic team, and ensuring compliance with regulatory standards. The ideal candidate will have extensive experience in finance, particularly in credit risk, and will play a crucial role in driving financial innovation. Join a collaborative environment that fosters creativity and supports professional growth while empowering businesses to thrive in a competitive landscape.

Benefits

Competitive Salaries

Hybrid working environment

Paid time off

Healthcare coverage

Collaborative team environment

Work-life balance culture

Learning and innovation culture

Qualifications

• 7+ years in finance, particularly in SME underwriting.
• Experience in senior risk roles with strong credit risk understanding.

Responsibilities

• Develop and implement credit risk management framework.
• Lead credit risk team and manage portfolio strategies.
• Design credit scoring models for risk assessment.

Skills

Credit Risk Management

Analytical Skills

Leadership

Communication Skills

Problem-Solving

Education

Bachelor's Degree in Finance or related field

Master's Degree in Finance or related field

Tools

Credit Scoring Models

Risk Assessment Tools

Job description

What is FlapKap?

We are the financial growth partner for small and medium-sized businesses in the Middle East and Africa. We support our merchants to overcome their cash constraints by financing their working capital and ensure their growth without losing equity.

For more info, check our feature on Forbes.

Why FlapKap?

FlapKap is a fast, smart, collaborative, and first-of-a-kind startup that aims to disrupt the financial industry in the MENA region. We are backed by QED, BECO Capital, A15, Outliers, and Nclude with a total financing of over $37m USD. FlapKap offers a safe environment with a welcoming atmosphere for creativity and innovation. Every day there are new challenges and significant achievements that make everyone charged, excited, and proud to belong.

What is this role?

The Head of Credit Risk at FlapKap plays a pivotal role in steering our financial operations towards sustainable growth. In this key position, you will lead the development and implementation of a robust credit risk management framework for our expanding financial services in Saudi Arabia and regionally.

Leveraging your extensive experience, you will guide a dynamic team in assessing and mitigating credit risks associated with different business verticals. Your strategic insights and expertise will be crucial in shaping data-driven decisions, ensuring compliance with regulatory standards, and fostering a risk-aware culture within the organization. Join us in driving financial innovation and empowering businesses in the dynamic landscape of the MENA region.

Responsibilities:

• Develop and implement a robust credit risk management framework for FlapKap’s SME financing operations.
• Lead and manage the credit risk team, ensuring effective collaboration and communication within the department and across the organization.
• Stay abreast of industry trends, regulatory changes, and emerging risks, and adjust the credit risk strategy accordingly.
• Design and implement credit scoring models and other risk assessment tools to enhance the accuracy and efficiency of credit risk evaluations.
• Establish and maintain strong relationships with relevant regulatory bodies and stakeholders in the financial industry.
• Devise and execute a comprehensive portfolio strategy, aligning with organizational goals and risk appetite.
• Implement diversification measures to ensure a well-balanced and resilient portfolio, minimizing concentration risk and optimizing risk-adjusted returns.
• Evaluate and enhance the performance of the credit portfolio through ongoing analysis, monitoring, and strategic adjustments.
• Establish and enforce portfolio-level controls to mitigate credit risks effectively, ensuring adherence to risk management policies and regulatory requirements.

Requirements:

• 7 or more years of experience in the finance industry underwriting SMEs, preferably with a Saudi bank or fintech.
• Demonstrated experience in a senior-level risk position, ideally as Head of Risk, with a strong understanding of credit risk in the context of SMEs.
• In-depth knowledge of Saudi Arabia and regional regulatory requirements related to credit risk management.
• Strong analytical and problem-solving skills, with the ability to make strategic decisions based on complex data.
• Excellent leadership and interpersonal skills, with the ability to build and lead a high-performing team.
• Exceptional communication skills, both written and verbal, with the ability to convey complex information to various stakeholders.

Benefits:

• Competitive Salaries
• Hybrid working environment
• Paid time off
• Healthcare coverage
• A highly collaborative team environment that will support your professional and personal growth.
• A culture that promotes work-life balance and wellbeing.
• A culture of learning and innovation.