Risk Lead

Foodics; Riyadh; On-site; SAR 167,400 - 279,000; Full time

Job summary

Foodics is seeking a Risk Lead to develop and maintain its risk management framework in Riyadh, Saudi Arabia. This role involves implementing best practices to mitigate risks, ensuring compliance with regulations, and developing a strong risk management culture across the company.

The ideal candidate will have at least 3 years of experience in Risk Management within the financial industry and a Bachelor's degree in a relevant major. Strong project management skills and familiarity with SAMA compliance are essential.

Qualifications

• At least 3 years of experience in Risk Management, preferably in the financial industry.
• Knowledge of risk assessment, control, and analysis.
• Familiarity with SAMA compliance standards and regulations.

Responsibilities

• Develop risk management strategy in coordination with other functions.
• Establish and develop risk management frameworks and policies.
• Design and implement risk management methodologies and tools.
• Conduct risk assessments for company strategic projects.
• Establish continuous risk management monitoring role.
• Develop periodic risk management awareness programs.
• Ensure risk transfer techniques are implemented.

Skills

Risk assessment

Project management

Microsoft applications

Team collaboration

Education

Bachelor’s degree in Risk Management, Finance, Actuarial, or any relevant major

Job description

The Risk Lead will be responsible for developing and maintaining a risk management framework for the company. He/she will ensure that risk exposures of the company are mitigated and managed within the accepted risk appetite and monitored continuously. The Risk Lead will be applying the best practices in managing risks and applying the suitable measurements satisfying issued regulations and the company’s shareholders.

What Will You Do

• Developing in coordination with other functions the company’s risk management strategy.
• Establishing and developing the risk management framework, policies, risk appetite and associated applicable risk limits.
• Developing risk management related procedures to manage and maintain operational and financial objectives.
• Designing and implementing the appropriate risk management methodologies, tools, techniques and programs across the company, covering all risks including operational, credit, financial, reputational and cyber security risks.
• Implementing and conducting risk assessment and analysis across functions and new products.
• Performing risk assessment for overall company strategic projects and documentation including policies, procedures, agreements and system implementation initiatives.
• Establishing continuous risk management monitoring role including development of early warning indicators and key risk indicators.
• Establishing comprehensive risk register covering all internal and external risks.
• Setting up appropriate mechanism of reporting and analyzing operational risk incidents and associated losses and remedial actions.
• Developing periodic risk management awareness and building a strong risk management culture across the company.
• Ensuring required risk transfer techniques, including mandatory or optional insurance, are implemented and aligned with the risk management strategy.
• Liaising with all functional heads to establish, maintain and continuously improve risk management capabilities, implementing appropriate risk reporting aligned with local and international regulatory requirements and board of directors and senior management oversight.
• Enhancing and implementing a business continuity plan into the business lines and critical functions, supporting the functions in understanding the risk impacts to their daily operations and managing risks effectively in coordination with technology and cyber security functions.
• Keeping abreast of the development in risk management techniques, methodologies and tools.
• Managing assigned ad hoc assignments for regulatory committees and senior management.

Qualifications

• At least 3 years of experience in Risk Management preferred in the financial industry.
• Bachelor’s degree in Risk Management, Finance, Actuarial, or any relevant major.
• Knowledge of risk assessment, control, and analysis.
• Familiarity with SAMA compliance standards and regulations.
• Solid and demonstrated project management skills.
• Firm grasp of Microsoft applications (Excel, PowerPoint & Word) and G‑Suite.
• Ability to work as a great team player with a positive mindset.