Chief Risk Officer

Job Title: Chief Risk Officer (CRO)

Location: Riyadh, Saudi Arabia

Summary:

The Chief Risk Officer (CRO) plays a critical role in the organisation by leading the independent Risk Management Function (2nd line of defense). The CRO is responsible for providing comprehensive oversight of risk management activities across the organisation, ensuring that business units and support departments effectively identify, assess, mitigate, monitor, and report their respective risk exposures.

Key Responsibilities:

1. Foster a risk-conscious culture and embed risk-based decision-making at all levels of the organisation.
2. Establish and oversee an independent Risk Management Function with a robust risk management framework, policies, and processes in alignment with regulatory requirements and industry best practices.
3. Define and implement a company-wide risk strategy.
4. Collaborate in the development of the annual budget, ensuring risk costs are considered and integrated.
5. Develop and implement systems and procedures to identify, measure, monitor, and control key material risks, including but not limited to credit, market, operational, strategic, reputational, cybersecurity, business continuity, and legal risks.
6. Oversee the development and regulatory compliance of the organisation's ICAAP, ensuring proper capital adequacy assessments and reporting to the Board.
7. Collaborate with relevant departments to develop a comprehensive ILAAP.
8. Continuously assess the organisation's risk profile to ensure alignment with the risk strategy and recommend corrective actions as necessary.
9. Implement and enhance risk reporting and data-sharing capabilities.

Requirements:

1. Bachelor's degree in business, finance, banking, or a related field.
2. Master's degree or professional certification in risk management is an advantage.
3. 10-15 years of risk management experience within the financial sector, with at least 5 years in a senior strategic role in banking or financial services.
4. Expertise in risk management, retail risk, investment, financial instruments, credit, operational, and market risk, as well as accounting regulations.
5. Strong knowledge of risk management systems, data analytics, and reporting frameworks.

Key Competencies & Attributes:

1. Sharp analytical mind with the ability to assess complex risk scenarios.
2. High emotional intelligence and the ability to manage pressure effectively.
3. Humble, open-minded, and willing to challenge assumptions with a collaborative mindset.
4. Customer-centric approach, prioritizing business integrity and client trust.