Risk Manager

About the Role

Arab Invest is seeking a Risk Manager to join their team in Riyadh, Saudi Arabia. This full-time role is responsible for implementing a robust risk management framework to ensure adherence to all applicable laws and regulations. The Risk Manager will focus on the identification, assessment, measurement, mitigation, and reporting of key potential risks, while also fostering a culture of integrity and ethical behavior within the organization. The Risk Manager reports directly to the Head of GRC.

Key Responsibilities

• Support the development and implementation of the Company’s enterprise-wide Risk management strategy.
• Develop and implement a robust risk management framework covering credit, market, operational, and liquidity risks for identification, assessment, monitoring, mitigation, and reporting.
• Develop, propose, maintain, and monitor the Company’s risk appetite, ensuring appropriate cascades to all functions.
• Monitor adherence to established risk limits and escalate breaches or near-misses through formal reporting channels.
• Conduct regular risk assessments to identify and evaluate potential risks, and liaise with function heads to develop mitigation plans.
• Develop and maintain Arab Invest's risk register, conduct periodic follow-ups on mitigation actions, and report findings to the Head of GRC and the Governance, Risk and Compliance Committee.
• Establish and maintain credit and counterparty risk assessment frameworks and exposure limits.
• Monitor counterparty exposures across all asset classes, ensuring compliance with approved credit limits and tiering frameworks.
• Ensure implementation of the country limits management framework in line with approved IPS.
• Support the implementation of pre- and post-trade risk controls, ensuring investment activity adheres to Arab Invest's portfolio restrictions and regulatory requirements.
• Support the Head of GRC in reviewing investment proposals and formulating risk memos.
• Develop and update stress testing frameworks and carry out stress testing periodically.
• Oversee operational due diligence (ODD) reviews of external investment managers to assess operational risk, integrating findings into investment decision-making and risk reporting processes.
• Develop and deliver training programs to educate employees on risk issues and promote a risk-aware culture.
• Support the implementation of the risk management program through the establishment and regular updates of policies/procedures, enforcement, and monitoring.
• Identify, assess, measure, mitigate, and report on Market and Liquidity risk of the Company.
• Prepare and present enterprise risk reports to the Head of GRC and senior leadership, highlighting emerging risks, portfolio analysis, concentrations, early warning indicators, and mitigation strategies.
• Assist in the implementation and ongoing management of appropriate risk systems and tools for effective management, measurement, mitigation, and reporting of various risks.
• Review and assess risks associated with new initiatives (products, services, systems) and suggest changes to existing activities or products, implementing controls to mitigate those risks.
• Develop and maintain the Business Continuity Policy and Disaster Recovery Plan, working with key stakeholders within Arab Invest.

Qualifications and Experience

• A minimum of 10 years of experience in a relevant risk management role.
• Demonstrated experience in developing and implementing enterprise-wide risk management strategies and frameworks.
• Strong understanding of credit, market, operational, and liquidity risks.
• Proficiency in risk assessment methodologies and reporting.

Work Environment

This is a full-time position based in Riyadh, Saudi Arabia, offering an opportunity to contribute to a critical function within Arab Invest.