Risk Manager

Arab Invest; Riyadh; On-site; SAR 300,000 - 420,000; Full time

Job summary

Arab Invest is seeking an experienced Risk Manager to lead the enterprise-wide risk management program in Riyadh. You will develop and implement a robust framework covering credit, market, operational and liquidity risks, aligning with laws and internal policies.

You will report to the Head of GRC and drive risk identification, assessment, monitoring and reporting, while promoting a culture of integrity and compliance across the firm.

Job description

Arab Invest is a Pan-Arab joint-stock company established in July 1974 and owned by governments of 16 Arab states with an authorized capital of US$ 1,200 Million and a paid-up capital of US$ 917 million.

About the Role

To implement a robust risk management framework ensuring that Arab Invest adheres to all relevant / applicable laws & regulations, including identification, assessment, measurement, mitigation, reporting of key potential risks and promotes a culture of integrity and ethical behavior.

Risk Managerreports to the Head of GRC

Responsibilities

• Support the development and implementation of the Company’s enterprise-wide Risk management strategy
• Develop and implement a robust risk management framework including but not limited to credit, market, operational and liquidity for identifying, assessing, monitoring, mitigating and reporting on risks
• Develop, propose, maintain and monitor Company’s risk appetite, ensuring appropriate cascades to all functions
• Monitor adherence to established risk limits and escalated breaches or near-misses through formal reporting channels
• Conduct regular risk assessments to identify and evaluate potential risks and liaise with function heads to develop risk mitigation plans to address identified risks
• Develop Arab Invest's risk register to log the identified risks and conduct periodically follow ups on mitigations actions and report findings to the Head of GRC and Governance, Risk and Compliance Committee
• Establish and maintain credit and counterparty risk assessment frameworks and exposure limits
• Monitor counterparty exposures across all asset classes, ensuring compliance with approved credit limits and tiering frameworks
• Ensure implementation of country limits management framework in line with approved IPS
• Support the implementation of pre- and post-trade risk controls, ensuring investment activity adheres to Arab Invest's portfolio restrictions and regulatory requirements (where applicable)
• Support Head of GRC to review the investment proposals and formulate a risk memo
• Develop / update stress testing framework and carry out stress testing periodically
• Oversee operational due diligence (ODD) reviews of external investment managers to assess operational risk, ensuring findings are integrated into investment decision-making and risk reporting processes
• Develop and deliver training programs to educate employees on risk issues and promote a risk aware culture
• Support the implementation of the risk management program through establishment and regular updates of policies/procedures, enforcement and monitoring
• Identification, assessment, measurement, mitigation and reporting of Market and Liquidity risk of the Company
• Prepare and present enterprise risk reports to the Head of GRC, and senior leadership, highlighting emerging risks, portfolio analysis, portfolio concentrations across multiple dimensions and report early warning indicators, if any and mitigation strategies.
• Assist in implementation and on-going management of appropriate risk systems and tools for effective management, measurement, mitigation and reporting of various risks.
• Review and assess the risks associated with new initiatives i.e., products, services, Systems and also suggest changes to existing activities or products, and implement controls to mitigate those risks.
• Develop and maintain Business Continuity Policy and Disaster Recovery Plan, working with key stakeholders within Arab Invest.

Qualifications

• Bachelor’s degree in business administration, Law, Finance or a relevant discipline, with a minimum of 10 years of experience in governance, risk and compliance or postgraduate degree in a relevant discipline, with a minimum of 8 years of experience in governance, risk and compliance
• Professional Certification as PRM, FRM or similar
• Relevant experience in investment firms, asset management, or financial institutions.
• Proven experience in developing and implementing enterprise-wide risk frameworks.
• Hands-on experience in managing Investment, Market, Credit, Liquidity and Operational Risks including Business Continuity.
• Working knowledge of Stress Testing and Risk Appetite frameworks.