Operational Risk Manager

Geidea; Riyadh; On-site; SAR 180,000 - 280,000; Full time

Job summary

Geidea is hiring an Operational Risk Manager in Saudi Arabia to lead the Enterprise Operational Risk Management Framework, oversee RCSA activities, and provide independent risk reporting to senior leadership. The role focuses on risk assessment, incident management, and escalation of material breaches to safeguard the organization.

You will drive risk mitigation, monitor risk appetite, and ensure regulatory compliance across products and third-party engagements, fostering a strong risk culture

Qualifications

• Strong knowledge of Enterprise Risk Management (ERM)
• Experience with RCSA, KRIs, incident management, risk reporting
• Understanding of governance and internal controls in financial/tech environments
• Awareness of regulatory requirements and risk management standards
• Completion of risk management training programs

Responsibilities

• Manage and maintain the Enterprise Operational Risk Management Framework
• Oversee risk assessments, RCSA activities, and the Operational Risk Register
• Provide independent risk reporting to senior management and boards
• Oversee operational loss events, root cause analysis, and corrective actions
• Monitor risk appetite and escalate material breaches or deteriorating trends
• Review material changes, products, outsourcing, and third-party engagements
• Promote risk culture and ensure compliance with regulatory requirements

Skills

ERM knowledge

RCSA understanding

Risk reporting

Regulatory awareness

Education

Bachelor's degree in Business Administration, Risk Management, or a related field

Job description

Established in 2008, Geidea epitomises customer focused empowerment and commercial success through continuous innovation

Geidea makes best in class digital payment solutions available for all by attracting and leveraging the best creative & entrepreneurial talent in the market

Our solutions give any business the chance to get ahead and reach for more no matter their size or maturity.

Our technology mirrors our people - Smart, Innovative & Forward Thinking

To maintain competitive advantage as we grow, we are currently looking for new Operational Risk Manager

Job purpose:

To manage and oversee Geidea's operational risk management framework, ensuring operational risks are identified, assessed, monitored, and reported effectively. The role provides independent risk oversight and challenge, supports compliance with regulatory requirements and approved risk appetite, and drives appropriate risk mitigation and escalation across the organization

Responsibilities:

1. 1. Operational Risk Framework Management Accountable for the implementation, maintenance, and continuous enhancement of the Enterprise Operational Risk Management Framework, ensuring alignment with regulatory requirements, industry standards, and Geidea's risk strategy.
2. 2. Risk Assessment and Risk Register Oversight Accountable for overseeing enterprise-wide operational risk assessments, RCSA activities, and maintenance of the Operational Risk Register to ensure material risks are identified, assessed, monitored, and escalated appropriately.
3. 3. Operational Risk Governance and Reporting Accountable for providing independent challenge and reporting on operational risk exposures, emerging risks, risk appetite breaches, and control deficiencies to senior management, Operational Risk Committee, and Board Risk Committee.
4. 4. Operational Loss and Incident Management Accountable for the oversight of operational incidents, loss events, near misses, and control failures, ensuring root cause analysis, corrective actions, and lessons learned are effectively implemented and monitored.
5. 5. Risk Appetite Monitoring and Escalation Accountable for monitoring operational risk exposures against approved Risk Appetite thresholds and exercising authority to escalation material breaches, exceptions, and deteriorating risk trends through established governance channels.
6. 6. Material Change, Product and Third-Party Risk Review Accountable for independent risk review and challenge of new products, material business changes, outsourcing arrangements, critical third-party engagements, and other initiatives that may materially affect Geidea's risk profile.
7. 7. Risk Culture and Regulatory Compliance Support Accountable for promoting a strong risk culture across the organization through risk awareness initiatives, Risk Champion engagement, and ensuring operational risk management practices remain compliant with applicable regulatory and governance requirements.

The Operational Risk Manager shall have authority to:

• Challenge and require reassessment of operational risk assessments, RCSA results, KRIs, and risk ratings.
• Require remediation plans for risks exceeding approved tolerance levels.
• Escalate material risks, incidents, control failures, and risk appetite breaches to relevant governance committees.
• Reject closure of high and critical risks, incidents, or actions where sufficient evidence of remediation has not been provided.
• Require additional risk review for material projects, products, outsourcing arrangements, and control changes.
• Recommend risk acceptance, treatment, or escalation decisions to the appropriate approval authority.
• Issue independent operational risk opinions to management and governance committees.

Must have technical/professional qualifications:

• 5-7 years of total professional experience, including at least 4 years of proven experience in Operational Risk Management.
• Bachelor's degree in Business Administration, Risk Management, or a related field.
• Knowledge of Enterprise Risk Management (ERM), internal controls, governance, and risk assessment methodologies.
• Understanding of RCSA, KRIs, incident management, operational risk, and risk reporting processes.
• Familiarity with applicable regulatory and requirements.
• Completion of Risk Management training programs prescribed by the Risk Management Function.

Our values guide how we think and act - They describe what we care about the most

Customer first - It's embedded in our design thinking and customer service approach

Open - Openness allows us to constantly improve and evolve

Real - No jargon and no excuses!

Bold - Constantly challenging ourselves and our way of thinking

Resilient - If we fail, we bounce back stronger than before

Collaborative - We know that we can achieve a lot more as a team

We are changing lives by constantly striving for a better solution