ERM/Operational Risk Specialist

About the Role

JAL International Co. Ltd. is seeking an ERM/Operational Risk Specialist to join their team in Riyadh, Saudi Arabia. This contract position requires a professional with 5-10 years of experience in risk management, focusing on implementing and operating robust operational risk frameworks.

Role Purpose and Context

The primary purpose of this role is to implement and continuously operate the client's Operational Risk Management Framework. This involves facilitating Risk & Control Self-Assessments (RCSAs), maintaining the enterprise Risk Register, challenging risk assessments, monitoring Key Risk Indicators (KRIs), and coordinating risk reporting. The specialist will be instrumental in embedding proactive risk management practices across all Business Units.

Key Responsibilities

• Execute and continuously operate operational risk procedures across all Business Units, ensuring alignment with the client's Risk Appetite and Risk Management Framework.
• Facilitate the end-to-end operational risk lifecycle, from identification through monitoring, reporting, and periodic reassessment.
• Plan, facilitate, and document RCSA workshops, challenging inherent and residual risk assessments using approved methodologies.
• Assess control design and operating effectiveness, ensuring consistent application of likelihood and impact scoring.
• Maintain the enterprise Risk Register, ensuring accurate documentation, categorization, scoring, and linkage to controls, action plans, KRIs, and Business Process Owners.
• Monitor changes in residual risk, recommend reassessment, and track risk treatment actions until closure.
• Develop and monitor KRIs for material operational risks, defining thresholds, escalation triggers, and producing periodic KRI reporting.
• Monitor emerging operational risks, prepare risk reports for Executive Management, ExCom, GARC, and the Board, and escalate significant risks and appetite breaches.
• Coordinate operational risk event reporting, investigate significant incidents, perform root cause analysis, and ensure lessons learned are incorporated into RCSA and control improvements.
• Support Business Units in identifying practical risk treatments, provide independent challenge, and advise on operational risk implications of new initiatives and organizational changes.
• Recommend enhancements to operational risk methodologies, templates, and reporting, and support the development of risk culture through awareness sessions and coaching.

Experience and Qualifications

• A minimum of 5 to 10 years of experience in Enterprise Risk Management or Operational Risk roles.
• Demonstrated experience in implementing and operating operational risk frameworks.
• Proficiency in facilitating RCSAs, maintaining risk registers, and developing/monitoring KRIs.
• Strong analytical skills for challenging risk assessments and performing root cause analysis.

Work Environment

This is a contract position based in Riyadh, Saudi Arabia. The role involves working collaboratively with various Business Units and Executive Management to embed effective risk management practices.

Application Process

Candidates who meet the specified qualifications are encouraged to apply for this role. Salary details will be discussed during the interview process.