Risk Officer - KSA

Role Overview and Key Responsibilities

The Risk Officer will facilitate the advancement and implementation of the Operational Risk Management Framework, ensuring alignment with the bank's policies, Saudi Arabian Monetary Authority (SAMA) regulations, and Basel standards. The role involves identifying, evaluating, monitoring, and reporting operational risks across the Branch, along with maintaining the Operational Risk Register.

Responsibilities include conducting Risk and Control Self-Assessments (RCSA) to gauge the effectiveness of internal controls, highlight control weaknesses, and suggest enhancements. Continuous monitoring of Key Risk Indicators (KRIs), tracking operational incidents and losses, performing root cause analyses, and ensuring corrective actions are addressed are integral to the position.

The officer will also review new products, services, projects, and significant changes to the business from an operational risk perspective, preparing detailed operational risk reports and advising management accordingly. Coordination with Internal and External Auditors and regulators by tracking observations and ensuring timely resolutions is expected. Staying abreast of regulatory shifts and their impact on the Branch is critical.

The position supports Operational Risk stress testing, scenario analysis, Business Continuity Management (BCM), and Disaster Recovery planning efforts. The candidate will contribute to formulating and updating Operational Risk policies, advise business units on risk matters, and foster risk consciousness through training and guidance.

Candidate Requirements

• A bachelor's degree in Business Administration, Finance, Risk Management, or a related discipline is required.
• At least 4 years of experience specifically in Operational Risk within banking or financial services sectors.
• Solid understanding of Operational Risk concepts, SAMA regulations, and Basel requirements essential.
• Preferred candidates hold professional risk management certifications such as CORM, CORP, or equivalents.
• Excellent analytical capabilities, strong communication skills, problem-solving aptitude, and proficiency in report writing are expected.
• Proficiency in English, both oral and written, is essential.
• Ability to work effectively under pressure and collaborate cross-functionally within the organization.