Head of Risk Management

About the Role

The Head of Risk Management is responsible for leading and enhancing the organisations Enterprise Risk Management (ERM) framework ensuring effective identification assessment monitoring and mitigation of strategic operational financial regulatory and emerging risks.

The role will work closely with senior management board committees and business functions to promote a strong risk culture support informed decision-making and ensure compliance with all applicable regulatory requirements. The Risk Manager will also oversee business continuity initiatives risk reporting governance activities and risk-based supervision requirements.

This role is open to Saudi Nationals only.

Key Responsibilities

1. Enterprise Risk Management

• Develop maintain and enhance the Enterprise Risk Management Framework.
• Establish risk management methodologies policies and procedures across the organisation.
• Ensure risk management practices are aligned with strategic objectives and regulatory expectations.

2. Risk Identification & Assessment

• Facilitate enterprise-wide risk assessments across all business functions.
• Identify emerging operational strategic financial and regulatory risks.
• Maintain and regularly update the corporate risk register and risk inventories.

3. Risk Appetite & Monitoring

• Develop and maintain the Risk Appetite Framework and Risk Appetite Statement.
• Monitor risk exposures against approved tolerance levels and key risk indicators.
• Escalate material risk issues and breaches to senior management and relevant committees.

4. Governance & Regulatory Compliance

• Support the implementation of effective risk governance practices across the organisation.
• Ensure compliance with applicable regulatory requirements guidelines and standards.
• Coordinate risk-related regulatory submissions and reporting obligations.

5. Risk Reporting & Committee Management

• Prepare risk reports dashboards and presentations for senior management and the Board.
• Act as Secretary to the Risk Management Committee and maintain committee records.
• Track risk actions committee decisions and management responses.

6. Business Continuity & Operational Resilience

• Develop and maintain Business Continuity Management and Operational Resilience frameworks.
• Coordinate business continuity testing crisis management exercises and recovery planning.
• Monitor the effectiveness of continuity plans and recommend enhancements.

7. Risk Culture Training & Assurance

• Deliver risk awareness programmes and training initiatives across the organisation.
• Support internal and external audit activities relating to risk management.
• Review contracts policies and business initiatives from a risk and control perspective.

Education & Qualifications

• Bachelors Degree in Risk Management Business Administration Industrial Engineering Finance Insurance or a related discipline.
• Strong understanding of Enterprise Risk Management Business Continuity Management Corporate Governance and Regulatory Compliance.
• Knowledge of insurance regulatory requirements and risk-based supervision frameworks.
• Proficiency in risk assessment risk reporting and risk mitigation methodologies.
• Professional risk management certification would be advantageous but is not mandatory.

Experience

• Minimum 57 years of experience in Risk Management Insurance Business Continuity Corporate Governance or Fraud Management.
• Experience within the insurance sector is highly preferred.
• Demonstrated experience in enterprise risk assessment risk reporting and committee governance.
• Experience working with regulators and preparing regulatory submissions and reports.