Project Risk Manager

Nesma & Partners Contracting Company Ltd.; Dammam; On-site; SAR 120,000 - 150,000; Full time

Job summary

Nesma & Partners Contracting Company Ltd. is seeking an experienced Risk Manager for their projects in Dammam, Saudi Arabia. This role involves leading the project risk management process, ensuring compliance with best practices and regulatory standards, and fostering a culture of risk awareness within the organization. The ideal candidate should possess a bachelor's degree in a relevant field and have at least 10 years of experience in risk management, with strong skills in financial risk management, regulatory compliance, and risk analysis. Proficiency in both English and Arabic is preferred.

Qualifications

• 10 years’ related experience with 4 years’ experience with growing managerial accountability in roles within similar positions.
• Professional certifications such as Professional Risk Manager (PRM) or Certified Risk Management Professional (CRMP).

Responsibilities

• Plan and lead project risk management across construction projects.
• Develop and implement a Project Risk Management Plan to ensure overall project success.
• Collaborate with cross-functional teams to ensure alignment with corporate strategy and project standards.

Skills

Financial Risk Management

Risk Analysis

Risk Mitigation strategies

Regulatory Compliance

Risk Assessment

Control Implementation

Education

Bachelors in Business Administration, Finance, Economics, Engineering, or any other related field

Masters in Business Administration, Project Management, Risk Management, or any other related field

Job description

Company: Nesma & Partners

Role Purpose

To plan and lead project risk management across construction projects within Nesma & Partners by championing the implementation of best industry practices aligned with ISO 31000 and PMI-RMP standards. This role ensures proactive identification, assessment, analysis, and mitigation of risks that could impact project scope, schedule, cost, quality, and overall objectives. Responsibilities include approving qualitative risk analyses, mitigation planning within the Risk Register, and reviewing project risk documentation and workshop outcomes. This role leads the development of effective mitigation strategies, continuously monitors risks throughout the project lifecycle, and collaborates closely with Project Controls, Engineering, Procurement, Construction, and other teams to ensure alignment with corporate strategy and project standards.

Key Accountabilities

• Strategic Contribution – Ensure effective cascading of the assigned departmental strategy into operating plans to ensure vertical alignment and horizontal integration with other interfacing departmental strategies.
• People Management – Manage the effective achievement of assigned objectives through the leadership of the Risk Department by setting individual objectives, managing performance, developing, and motivating staff to maximize sectional performance. Lead the talent development initiatives for the Risk department, collaborating with technical/discipline experts and thereby ensure the availability of talent to fit business requirements. Act as a role model and drive adherence to organizational values and ethics by employees of the Risk department to foster a value‑driven culture within the organization.
• Budgeting and Financial Planning – Monitor financial performance versus the budget while ensuring all sectional activities are conducted in line with the approved guidelines.
• Policies, Systems, Processes & Procedures – Manage and ensure effective implementation of policies, procedures, and controls covering all areas of Risk department activity so that all relevant procedural/legislative requirements are fulfilled while delivering a quality, cost‑effective service.
• Project Risk Management – Lead the development and implementation of a Project Risk Management Plan (RMP) by aligning it with the corporate risk framework to proactively identify, assess, mitigate, and monitor risks throughout all project phases, ensuring overall project success. Oversee the risk assessment schedule by coordinating timelines and resources to ensure risks are evaluated accurately and on time, enabling proactive risk management.

Key Accountabilities

• Drive the assessment of identified risks by applying systematic evaluation methods to understand their potential impact and likelihood, so informed decisions can be made to reduce project vulnerabilities.
• Lead the Qualitative Risk Analysis (QRA) using structured tools and techniques to evaluate the probability and impact of risks, which helps prioritize risks and focus mitigation efforts effectively.
• Approve comprehensive qualitative and quantitative risk assessments by reviewing their validity against project objectives to ensure risk prioritization aligns with cost, schedule, and scope targets.
• Drive the utilization of simulation analysis by applying modeling tools to predict potential risk outcomes identified during QRA, which improves the accuracy of risk impact forecasts.
• Review post‑simulation analysis results by interpreting and communicating findings clearly to stakeholders, enabling better understanding and decision‑making.
• Ensure the ongoing updating of the project risk register by maintaining accurate documentation of identified risks and their assessments, which supports continuous risk tracking and management.
• Validate and approve updates to the risk register by reviewing entries for completeness and alignment with governance protocols, ensuring the register remains a reliable source of risk information.
• Lead execution of probability assessments by applying quantitative methods to prioritize risks based on their likelihood, which helps allocate resources effectively to high‑priority risks.
• Drive the effective estimation of risk contingency values by translating QRA data into measurable financial and schedule buffers, enabling informed budgeting and planning.
• Lead the application of mathematical models and stress testing by using theoretical tools to quantify risk exposure, supporting data‑driven decision‑making and contingency planning.
• Monitor accurate risk scoring by regularly reviewing risk ratings to prioritize risks effectively and provide a clear understanding of project risk exposure.
• Review and formally approve project risks and opportunities submitted by teams by assessing their relevance and completeness to ensure that all significant risks are considered and managed.
• Approve the structure, objectives, and outputs of risk identification and review workshops by ensuring they follow organizational standards and capture high‑value risk data, fostering comprehensive risk awareness.
• Monitor consolidated risk data across projects and programs by analyzing interdependencies and strategic exposures to support cross‑project risk governance and mitigation.
• Liaise with the Risk department by coordinating reporting and risk information sharing to ensure alignment and facilitate early recognition and response across projects.
• Oversee and approve periodic risk monitoring reports and dashboards by verifying accuracy and completeness, providing leadership with timely insights into risk status and mitigation progress.
• Oversee the preparation and presentation of executive risk reports and dashboards by consolidating critical risk data and trends to support informed decision‑making at governance levels.
• Issue formal risk communications and escalation notices by following escalation protocols to alert project leadership and stakeholders about critical and emerging risks for timely action.

Key Accountabilities

• Risk Mitigation and Monitoring – Lead and oversee risk response planning by proactively managing risks to reduce the overall impact on project outcomes and enhance project success.
• Evaluate and endorse risk response strategies proposed by risk owners by critically assessing their practicality, effectiveness, and assignment to accountable parties with clear deadlines, to ensure timely and efficient mitigation of project risks and alignment with overall project objectives.
• Promote the identification of risks that can be avoided by implementing risk mitigation measures to remove these risks.
• Develop risk mitigation strategies to mitigate risks that cannot be avoided across projects to contribute towards the project’s overall success.
• Lead the development of contingency plans outlining additional cost, budget, and time required to address contingency risks.
• Develop and monitor KRIs (Key Risk Indicators) to ensure appropriate risk reporting mechanisms align with industry‑leading practices, facilitating timely identification and communication of project risks.
• Liaise with various cross‑functions/departments when the risk mitigation strategies and plans affect multiple departments to enhance the effectiveness of the risk mitigation efforts.
• Drive the continuous monitoring of identified risks and response plans to assess the effectiveness of risk mitigation measures.

Key Accountabilities

• Stakeholder Engagement – Collaborate with stakeholders to provide an accurate understanding of project risk exposure to support proactive risk management and informed decision‑making.
• Lead the effective communication of risk‑related information with stakeholders (e.g., project team) to address concerns and strategic feedback by implementing relevant information into the response planning of the risk process.
• Coordinate cross‑functional/departmental stakeholder engagement to ensure alignment in terms of project risk management across the organization.
• Foster a risk‑aware culture in collaboration with the risk department to recognize the importance and impact of risks across construction projects.
• Compliance – Ensure adherence to regulatory standards and requirements across the department to ensure compliance.
• Remain abreast of regulatory changes and/or developments to establish the overall impact on Nesma & Partners’ operations to implement initiated recommendations and plans suggested by the Corporate Risk Manager to remain legally compliant.
• Implementation of new policies and procedures resulting from new regulations to ensure overall compliance across the risk department and overall organization.

Key Accountabilities

• Continuous Improvement – Lead the identification of opportunities for continuous improvement and sustainability of systems, processes, and practices considering global standards, productivity improvement, and cost reduction.
• Quality, Health, Safety & Environment (QHSE) Management – Manage the effective implementation of corporate policies, procedures, and processes to promote a culture focusing on the achievement of world‑class standards in QHSE and sustainability within Risk in line with regulatory requirements.
• Reporting – Ensure that all risk reports are prepared timely and accurately and meet Nesma & Partners requirements, policies, and quality standards.

Technical Essential

Education/Certifications

• Bachelors in Business Administration, Finance, Economics, Engineering, or any other related field.

Experience

• 10 years’ related experience with 4 years’ experience with growing managerial accountability in roles within similar positions.

Languages

• English

Skills

• Financial Risk Management, Risk Analysis, Risk Mitigation strategies, Regulatory Compliance, Risk Assessment, Control Implementation.

Technical Preferred

Education/Certifications

• Masters in Business Administration, Project Management, Risk Management, or any other related field.
• Professional Risk Manager (PRM), Certified Risk Management Professional (CRMP), or similar certifications.

Experience

• Experience in the EPC industry.

Languages

• Arabic

Skills

Customer Focus, Decision Quality, Cultivates Innovation, Action Oriented, Ensures Accountability, Collaborates, Communicates Effectively, Self‑Development, Situational Adaptability.