Head of Risk Management

To direct the development and implementation of the risk management strategy, framework and controls for Orient KSA to ensure that the organization operates within an agreed risk appetite and that it fully complies with its internal policy and external regulatory obligations and all risks are captured, managed & reported to executive management and risk committee.

• Lead the development of the overall Orient KSA risk management strategy by providing input and plans in line with the overall business objectives and ensure that department strategies are developed and implemented in ways that directly support the achievement of Orient KSA vision, mission and corporate objectives.
• Ensure that the risk management strategy is translated into operational business plans and monitor the performance of execution in order to achieve Orient KSA objectives and take corrective strategy elements beyond risk appetite of Orient KSA when needed.
• Lead the formulation of the risk appetite framework of Orient KSA (addressing financial, operational, regulatory, technical and strategic risks) and communicate it and the Risk Dashboard with the CEO, board and the risk management committee to approve and confirm whether it is in line with the organization’s strategy and stakeholders’ perspectives of Orient KSA.
• Establish Orient KSA strategic risk management approach in capital adequacy, solvency, interest rates fluctuation and technical/ operational processes and aligns to Orient KSA overall strategy.
• Define and manage the Orient KSA risk framework including risk policies and procedures and reputational risk in order to enable proactive risk management within the context of a dynamic operational environment and best practices.
• Ensure communicating risk policies to all department within Orient KSA and facilitate capacity building and awareness sessions to enhance effectiveness of implementation.
• Ensure proper risk management infrastructure and control systems are in-place, including adequate policies and procedures for identifying, classifying, assessing, monitoring and managing risks.
• Recommend risk measures and rating methodologies to be reported to regulators and used by the Board in evaluating corporate performance and risk appetite.
• Lead the risk assessment initiatives internally and externally and the action plans in order to identify, assess, and mitigate risk jointly across all divisions of Orient KSA.
• Create and maintain a strong risk culture through effective leadership, communication and training programs, risk- based performance measurement and incentives, and other programs.
• Keep abreast of the improvements and changes in risk regulations and standards set by IA, CHI, and ensure compliance with IA Risk Based Compliance and measurement of each department against the RBS compliance and all external requirements by the Risk Management team and across Orient KSA operations.
• Monitor the adherence to procedures, methodologies, approach and systems used in risk management throughout Orient KSA and recommend/monitor implementation of corrective actions as considered appropriate.
• Monitor and report a broad range of advanced risk measures (such as stress testing, value-at-risk, risk factor sensitivity analysis, and other measures) to enable the Orient KSA management to have a comprehensive understanding of risk positions, market conditions, and the impact of new initiatives.
• Direct the development and implementation of Orient KSA
  -wide operational and conduct risk policies to identify and mitigate against potential risks that could impact the Orient KSA operational requirements or negatively…