Head of Risk Management Framework

About the Role: Head of Risk Management Framework

SAB is seeking a Head of Risk Management Framework to join its team in Riyadh, Saudi Arabia. This full-time role is responsible for directing the effective identification, assessment, management, monitoring, and mitigation of all current and potential future risk types across the organization. The role ensures the adoption and continuous effectiveness of the ‘Three Lines of Defence’ model, promoting an operational and resilience risk culture through transparency, ownership, and accountability.

Key Responsibilities

The Head of Operational Risk and Resilience (ORR) plays a critical role in developing, implementing, and overseeing the non-financial risk framework and core elements of the enterprise-wide risk management program for SAB. Responsibilities include:

• Ensuring Operational Risk and Resilience Risk are integrated into the Bank's Risk Management and Governance process, aligning SAB’s Operational Risk Management Framework (ORMF) with the ‘Three Lines of Defence’ Model prescribed by the Basel Committee on Banking Supervision.
• Promoting an operational and resilience risk culture, identifying and mitigating material risks, and recognizing emerging risks at every organizational level to meet local regulator expectations and SAB standards.
• Leading CRO updates at the Audit Committee, presenting papers at the Board and Risk Management Committee, and chairing the Operational Risk Committee.
• Developing Risk Management tools, practices, and policies to analyze and report enterprise risks, and managing risks according to an enterprise risk management framework.
• Protecting the business through appropriate risk management discipline, ensuring risks are captured, understood, and clearly communicated to key internal and external stakeholders.
• Enabling the business to execute growth strategies within the Bank’s Risk Appetite, acting as the single point of contact on all risk issues for the SAB Chief Risk Officer.

Management of Insurable Risks Bank-wide

This role involves overseeing the management of insurable risks across the bank, including:

• Collaborating with First Line risk owners (*, HR for employee medical/life cover, COO for property/liability cover, Company Secretary for Director coverage, WBP for retail product mandated cover) to understand specific insurable risk needs.
• Managing insurance provider selection, contract negotiation, claim management, and invoice processes.
• Maintaining insurable risk policy, reviewing and challenging the appropriateness of business cover and analysis to insure/self-insure.
• Coordinating an insurance coverage review to ensure appropriateness and adequacy for SAB, highlighting gaps for review (*, Marsh review) as per SAMA regulation of ‘Management of Operational Risk through Insurance schemes’.
• Contributing the review output to the annual review of bank-wide insurable risk activities for RMC, Board Risk Committee, and Board of Directors Meeting.

Establishment of Data Protection Office

The role is also critical in establishing the Data Protection Office to comply with SDAIA’s Personal Data Protection Law (PDPL) requirements. This includes:

• Accountability for managing and overseeing PDPL compliance and enforcement bank-wide for SAB customers, employees, and operations.
• Monitoring the implementation of PDPL requirements through the appointed Data Protection Officer (DPO).
• Ensuring compliance with the KSA Personal Data Protection Law (PDPL) and its Implementing Regulation, which came into effect on September 14, 2023, with a one-year grace period until September 15, 2024.

Qualifications and Requirements

Candidates for this position should meet the following criteria:

• Bachelor’s degree in Business Administration, Finance, or a related field.
• A minimum of 10 years of relevant experience.

Work Environment

This is a full-time position based in Riyadh, Saudi Arabia, within a dynamic financial institution focused on robust risk management practices.