79 Enterprise Risk jobs in Saudi Arabia

JD – Enterprise Risk Management (ERM) Consultant

• Job Title: Enterprise Risk Management (ERM) Consultant
• Location: Riyadh, Saudi Arabia
• Company: TechElevate

About Us

TechElevate is a Pune-based Technology Consulting and Talent Development firm that supports organizations with secure, scalable digital solutions and empowers individuals with in-demand technical skills. 

Experience

-
10 to 15 years 

Qualifications

• Bachelor's or Master's degree in Risk Management, Business Administration, or a related field
• Strong knowledge of ISO 31000 risk management standards

Key Skills

• Proven experience in governance, operational risk, and strategic risk assessments
• Excellent analytical, problem-solving, and communication skills
• Ability to develop and implement policies and procedures effectively
• Proficiency in risk assessment tools and software (preferred)

Key Responsibilities

• Conduct comprehensive assessments of the current Enterprise Risk Management framework, governance structures, and practices
• Identify gaps and recommend improvements to comply with SAMA ERM regulations and ISO 31000 best practices
• Develop and implement a robust ERM strategy aligned with organizational objectives and risk culture
• Draft, review, and update ERM-related policies, standards, and procedures
• Establish clear governance structures for risk ownership, reporting, and escalation
• Integrate risk management into corporate strategy, business planning, and decision-making processes
• Develop or refine the Risk Appetite Statement and Risk Tolerance limits with senior management and the Board
• Align risk appetite with regulatory expectations, business objectives, and capital adequacy requirements

Key Responsibilities

• Develop and maintain the ERM and GRC frameworks, policies, and procedures.
• Identify, assess, and monitor strategic, operational, financial, and compliance risks.
• Maintain risk registers, KRIs, and dashboards; provide regular reports to management and the Board.
• Ensure compliance with regulations, standards, and internal policies.
• Partner with business units to embed risk awareness and provide guidance on mitigation strategies.
• Support audits, regulatory reviews, and remediation activities.
• Promote a risk-aware culture and drive continuous improvement of risk processes.

Education & Certifications

• Bachelor's degree in Business, Risk Management, or related field.

Experience

• 5+ years of experience in risk management, compliance, or internal audit, with exposure to GRC frameworks.

Company Description

Raqamyah is the leading crowdfunding platform in Saudi Arabia, licensed by the Saudi Central Bank (SAMA). We empower SMEs by providing quick and accessible financing solutions while offering investors attractive opportunities with competitive returns. Utilizing innovative financial technologies, our vision is to boost economic growth by supporting entrepreneurs and investors.

Role Description

This is a full-time on-site role for an Enterprise Risk Manager located in the Riyadh Region. The Enterprise Risk Manager will be responsible for identifying, assessing, and mitigating risks associated with the company's operations. Responsibilities include developing and implementing risk management strategies, ensuring regulatory compliance, analyzing financial data, and providing insights to enhance decision-making and safeguard company assets.

Qualifications

• Skills in Enterprise Risk Management and Regulatory Compliance
• Proficiency in Finance and Financial Services
• Strong Analytical Skills
• Excellent written and verbal communication skills
• Ability to work independently and as part of a team
• Experience in the financial sector is a plus
• Bachelor's degree in Finance, Business, or a related field

Main Purpose:

Activation of ERM function at Lifera.

Area of Responsibility:

Strategic Leadership

• Define and drive the overall ERM vision, strategy, and roadmap across the organization.
• Align ERM framework with corporate objectives, regulatory requirements, and governance standards.
• Advise on emerging risks, risk appetite, and tolerance levels.

Governance & Framework Development

• Establish and maintain the ERM framework, policies, and procedures.
• Ensure integration of ERM into corporate governance and decision-making processes.
• Oversee the development of risk appetite statements, risk registers, and risk assessment methodologies.

Risk Identification & Assessment

• Lead the process of identifying strategic, operational, financial, and compliance risks.
• Develop risk assessment criteria and oversee periodic risk reviews at corporate and subsidiary levels.
• Evaluate key risks and ensure appropriate mitigation and control measures are implemented.

Monitoring & Reporting

• Provide regular risk reports to Audit Committee, and Executive Leadership.
• Monitor the effectiveness of risk responses and track key risk indicators (KRIs).
• Ensure escalation processes are in place for significant risks.

Stakeholder Engagement & Advisory

• Collaborate with subsidiaries, business units, and functional leaders to embed a risk-aware culture.
• Liaise with regulators, auditors, and external consultants on risk-related issues.

Team Leadership & Capability Building

• Build and lead the ERM team, ensuring adequate resources, skills, and tools are in place.
• Foster a culture of accountability, transparency, and continuous improvement in risk management.
• Provide training and awareness programs to enhance risk ownership across the organization.

Educational Qualification:

Bachelor's degree in Business Administration, MIS and Finance.

Work Experience:

10 years of experience in the same field.

Job Location - Riyadh, Saudi Arabia

As the Director of Enterprise Risk Management, you will be responsible for leading company's advisory practice in the financial risk advisory. The role requires proven expertise in risk modeling, regulatory compliance, policy design, and governance, with a strong emphasis on GCC markets. A solid understanding of Basel frameworks (Basel III/IV), IFRS9/CECL, and Pillar 1 capital computation.

You will lead high-profile client engagements across the financial services industry, provide strategic insights, and deliver innovative solutions to meet evolving regulatory and business challenges. This position also entails overseeing teams, driving business development, and collaborating with senior stakeholders to align risk management strategies with organizational objectives.

Extensive experience in assisting multiple large banks and leading teams in the implementation and validation of diverse risk models, including IFRS9, Stress Testing, and Basel III/IV frameworks (FRTB, CVA, IRB, IRRBB, and ICAAP). Expertise spans across credit, market, liquidity, and operational risk models.

Lead engagements to develop/validate rating models for different segments such as LCM, NBFC, and CF basis different quantitative tests such as Gini, KS, PSI, Binomial, HHI, and Type I, II error as well as qualitative factors as per BCBS 14 and other industry practices.

Lead the development, validation, and implementation of IFRS9/CECL-compliant credit risk models, including Probability of Default (PD), Loss Given Default (LGD), Exposure at Default (EAD), and Expected Credit Loss (ECL) computation for banks and financial institutions across GCC, USA, and UK.

Oversee the validation of market risk models such as Value at Risk (VaR), Stressed VaR (SVaR), and Expected Shortfall (ES) for various asset classes.

Assist central banks in conducting risk-based supervision, including compliance reviews and developing risk management strategies for supervised entities.

Monitor and guide the execution of Internal Capital Adequacy Assessment Processes (ICAAP) and Internal Liquidity Adequacy Assessment Processes (ILAAP), ensuring effective deliberation at management and board-level risk committees.

Responsible for developing and implementing Enterprise Risk Management (ERM) policies and establishing a robust governance structure through collaboration with various stakeholders of the bank.

Guide the production of risk reports for senior stakeholders, demonstrating alignment with regulatory and organizational objectives.

Responsible for monitoring and reviewing all tools, methodologies, policies, and procedures developed by risk management teams, and facilitating their approval by the Board/Executive Risk Management Committees.

Supervise the creation and validation of pricing models for both vanilla and exotic products, ensuring compliance with regulatory requirements and industry best practices.

Conduct end-to-end validation of models built on tools like R, Python, SAS, and ensure alignment with Basel standards.

Compute fair value of derivatives and other financial instruments using independent models and market data, ensuring compliance with accounting and regulatory requirements.

Develop and validate discounted cash flow models and other valuation methodologies for risk assessment and pricing purposes.

Lead the development of comprehensive Risk Control Self-Assessments (RCSA), Key Risk Indicators (KRI), and risk mitigation strategies.

Oversee the identification of operational risks, development of business line risk libraries, and monitoring of loss events.

Implement and validate risk management systems, including Murex, Calypso, Moodys, and SAS, to enhance risk infrastructure and analytics capabilities.

We are seeking an Enterprise Risk Management (ERM) specialist at Assistant Manager level to support a short-term assignment in Riyadh. The engagement focuses on strengthening enterprise risk frameworks, facilitating risk assessments across functions, and enhancing reporting to management. The role is ideal for professionals with 5–7 years' ERM experience in a Big 4 or corporate environment, with strong stakeholder management and Arabic communication skills.

Key Areas of Responsibility:

* Lead enterprise-wide risk assessments, refresh the risk register, and prioritise key risks and controls.

* Conduct control design and effectiveness reviews; recommend remediation and track actions to closure.

* Develop and refine ERM policies, procedures, KRIs, and risk appetite/tolerance statements.

* Prepare risk dashboards and reports for senior management and audit/risk committees.

* Partner with business units to embed risk in planning, projects, and change initiatives.

* Coordinate with Internal Audit, Compliance, and Finance to ensure alignment and timely issue resolution.

* Support workshops and training to uplift risk culture and awareness.

Preferred Qualifications:

* 5–7 years' experience in Enterprise Risk Management within a Big 4 advisory or corporate set-up.

* Demonstrated exposure to ERM frameworks (e.g., risk assessment, KRIs, controls testing, reporting).

* Strong analytical, documentation, and presentation skills; advanced Excel/PowerPoint proficiency.

* Arabic speaker with excellent business English.

* Professional certifications (e.g., CRMA, CIA, ACCA, CPA, ISO are advantageous.

Location: Riyadh

Duration: 3–4 months

Availability: Immediately Required

Note: Only shortlisted candidates will be contacted.

Job Purpose:

The job holder is responsible for developing, implementing, and managing comprehensive enterprise risk management strategies to ensure the organization effectively identifies, assesses, mitigates, and monitors risks.

Key Roles and Responsibilities:

• Ensuring work is performed based on approved policies, processes, procedures, and instructions.
• Identify opportunities for continuous improvement of systems, practices, cost ‎optimization, and productivity & efficiency improvement.
• Ensure compliance with all applicable laws, rules, regulations, and standards within WTCO and related functions such as but not limited to (HC, HSSE, Risk, Cybersecurity, etc.).
• Escalate problems to ensure case/issue is closed efficiently and in a timely manner.
• Contribute to the development and enhancement of the ERM strategy to align with WTCO's overarching goals and objectives.
• Support the design and implementation of the ERM framework, ensuring its adaptability to evolving business needs and alignment with global risk management best practices.
• Develop, implement, and refine risk management policies, guidelines, and processes to ensure uniformity and coverage across all business units.
• Lead advanced risk identification and assessment activities, including performing root cause analysis and evaluating cross-functional risks.
• Ensure monitoring and reviewing risk performance indicators to measure risk contribution to ensure the cost-effectiveness of existing controls and introduce improvements.
• Manage the corporate risk register by categorizing risks based on priority, likelihood, and impact, and ensure mitigation plans are effectively tracked and executed.
• Monitor emerging risks and industry trends to provide WTCO with actionable recommendations and a proactive approach to risk management.
• Regularly review and assess WTCO's insurance coverage to avoid duplications, identify gaps, and ensure alignment with operational and financial objectives.
• Work closely with department heads, business units, and external partners to facilitate comprehensive risk evaluations and establish effective risk mitigation strategies.
• Conduct training workshops and awareness programs to enhance the organization's risk management culture and ensure compliance with ERM practices.
• Prepare in-depth reports on risk management activities, including key risk indicators, performance metrics, and recommended improvements, for presentation to senior leadership.

Job Qualifications and Requirements:

• Bachelor's Degree in Risk Management, Business Administration, or relevant fields.
• A minimum of 6 years of relevant experience.

Key Accountability Areas

Key Activities

Risk Management

• Contribute to provide adequate and relevant data to assist in developing and updating SANS risk appetite statements and tolerance levels.
• Implement the enterprise risk management framework, appetite, policies, and procedures.
• Facilitate preparation and day-to-day execution of annual risk management plan.
• Assist in developing and updating the enterprise risk management framework, appetite, policies and procedures in line with professional standards and good practices, and ensure its implementation
• Participate in preparing annual risk management plan in coordination with SANS management, and ensure its implementation
• Ensure preparation and execution of annual risk management plan
• Identify and research on potential threats to SANS reputation, financial sustainability, operational efficiency, technology capabilities, workforce investments and safety
• Leverage the use of data, risk matrices and employee inputs to assist with identification of risks facing SANS; assess and analyze the identified risks, and recommend the mitigating actions
• Lead the utilization of appropriate techniques for risk quantification, measurement and aggregation to produce high quality risk matrices
• Prepare the risk mitigation gaps, agree the corrective action plans with management
• Assist in providing advice and innovative solutions to the management regarding corrective measures for mitigation of risks
• Maintain SANS risk register in the GRC directorate, and updated on a regular basis
• Update the risk register after performing the risk assessment across SANS
• Lead the provision of regular risk awareness and training sessions to employees to enhance the ability of employees to conduct risk management activities
• Assist in prepare risk reports with sufficient level of risk information and analysis to support management and the Board with decision making
• Support in provide or facilitate regular risk awareness and training sessions for employees to enhance the risk management culture and activities
• Assist in organize the periodic meetings with the second and third lines of defense, and ensure alignment on the work plans to avoid any duplications / overlaps
• Monitor the development of key risk indicators (KRIs) that are mapped to various risks to determine elevations in risk and proactively implement risk mitigation measures

Policies, Processes and Procedures

• Support in monitoring day-to-day activities to ensure compliance with stipulated policies and procedures
• Contribute to the identification of opportunities for continuous improvement of systems and processes taking into account leading practices, changes in business environment, cost reduction and productivity improvement

Policies, Processes and Procedures

• Actively participate in on-the-job training, mentoring and coaching of subordinates
• Provide clear direction, prioritize tasks, assign and delegate responsibility and monitor the workflow
• Promote a high-performance working environment embracing SANS's values

Qualifications for Internal Candidates

Knowledge and Experience

• Minimum of 6 years of experience in a risk management
• Relevant experience in similar industry is preferred.

Education and Certifications

• A Bachelor's degree in Business Administration or equivalent is required
• Professional certification in Risk Management, or Internal Audit is preferred

• Develop and maintain the Enterprise Risk Management Framework, ensuring alignment with organizational objectives and regulatory requirements.
• Establish and monitor the Risk Appetite Framework, ensuring it is integrated into strategic decision-making process.
• Lead the identification, assessment, and prioritization of enterprise risks and implement mitigation action plans.
• Develop standardized metrics and reporting to enable continuous monitoring of all enterprise risks.
• Prepare and deliver executive presentations for Risk & Credit Management Committee (RCMC) and the Board.
• Ensure that SAMA Quarterly Risk Management Report and any Risk Related Reports are submitted to SAMA on time.
• Co-ordinate with all relevant stakeholders (Operational Risk, Cybersecurity, Data Privacy, Legal, Compliance, Finance, IT, etc.) to integrate the ERM operating framework across all areas and to ensure that all required information is gathered as appropriate.
• Developing risk models and methodologies pertaining to Credit Risk, Market Risk and Liquidity Risk.
• Overseeing the Credit Portfolio, responsible for conducting portfolio analytics and methodology for early warning indicators.
• Oversee accurate computation of IFRS 9 provisions and their timely submission to relevant stakeholders.
• Review and assess the potential impact of model changes prior to their approval and implementation.
• Oversee the Stress Testing exercises/ Scenario Analysis and ensure timely & accurate submission of results to relevant stakeholders.