Senior Risk Management Specialist

2 weeks ago

Jeddah, Makkah Province, Saudi Arabia Islamic Development Bank Full time
Role Purpose


The purpose of the job is: (i) To independently undertake all necessary activities in the formulation and quantification of market and liquidity risk Appetite and maintain, implement, and monitor the Asset-Liability Management Framework to ensure all emerging and evolving risks which may impact the Bank's external credit rating are identified.

Conduct advanced analyses and reviews of policies, guidelines, models, methodologies and systems, stress testing, new products and investment proposals and evaluations, from the perspective of market, liquidity, and profit rate risk.

(ii) To manage the implementation and execution of a bank wide model risk management framework.

This includes participating in the implementation of model risk management policies and procedures, performing ongoing model risk monitoring, managing model inventory, undertaking model validation, identifying & reporting on model risk, and maintaining a model inventory.

Key Accountabilities

Market Risk Management

  • Formulate and quantify market and liquidity risk appetite.
  • Develop and maintain the Asset-Liability Management (ALM) framework which establishes the broad strategic principles for the management of balancesheet risks and sets the broad risk parameters to guide the relevant units in developing related policies.
  • Review financial policies and guidelines developed by other units and ensure compliance with approved risk frameworks. These include ALM policies, liquidity management policies, investment policies, etc.
  • Monitor compliance with Asset-Liability Management governance and limits; Report on the compliance with approved guidelines and limits; Perform analysis and report on any breaches.
  • Undertake periodic independent quantification and monitoring of profitrate, currency, and other market risks inherent in the financing, investing, funding, and hedging activities of the bank.
  • Conduct scenario analysis and stresstesting on various market risk exposures and recommend appropriate actions based on analysis of the results.
  • Review the outputs of stress tests conducted by other departments on the liquidity and funding risk of the Bank and provide constructive feedback.
  • Produce standardized and adhoc reports on market risk, liquidity risk profile of the Bank, and performance of the underlying portfolios.
  • Participate in the review of new products and assess their adequacy and consistency with the Bank's risk policies and infrastructure.
  • Review liquidity needs, identify potential risks and recommend mitigating measures.

Model Risk Management:

  • Formulate and quantify model risk appetite.
  • Develop and maintain a Model Risk Management policy, management directives, procedures and guidelines.
  • Maintain and updated the model risk monitoring tools, systems, and methodologies to ensure ongoing quality of model risk management
processes.

  • Independently review financial and risk models in use by the Bank and periodically perform independent model validation of these models.
  • Perform independent model risk assessment and model performance monitoring in accordance with the defined model risk appetite and the predefined model performance targets.
  • Review model development and redevelopment/recalibration proposals from model owners.
  • Perform periodic procedural compliance on model development and management process within the Bank along with review of adequacy and comprehensiveness of model documentation with the approved policy, directives and guidelines and highlight deviations with recommendations to achieve compliance.
  • Undertake ongoing management of model tiering, perform model risk assessments, and maintain model inventory, model documentation, model performance reports and model validation reports.

Operational Excellence & Knowledge Share:

  • Provide technical guidance and review the work delivered by lesser
experienced team members.

  • Monitor the effective implementation and adherence to respective risk
management policies, procedures, and controls so that all relevant
procedural / legislative requirements are fulfilled.

  • Keep abreast with the latest developments, regulations and leading
practices in the field and proposes any necessary actions.

  • Propose and implement process improvements to increase efficiency,
effectiveness, and compliance of the related operations.

Education, Certification and Experience

Academic and professional qualifications:

  • Bachelor's degree in Economics/ Finance/ Risk Management/ Mathematics/ Business Administration or related discipline.
  • Professional certifications like CFA/ PRM/ FRM/ CQF would be preferred.
  • Minimum 8 years of relevant experience in a financial modelling or risk management function, of which at least least 3 years in Market Risk, Liquidity Risk, ALM or Model Risk, preferably in a Multilateral Development Bank.
Skills & Necessary Knowledge

  • Risk Assessment and Risk Quantification skills
  • Quantitative Analytical skills
  • ALM,

  • Senior Specialist

    4 weeks ago

    Jeddah, Makkah Province, Saudi Arabia Parsons Corporation Full time

    Job Description:Parsons is looking for a Senior Specialist - Civil (Waterproofing) to play a key role in constructing an Oceanarium, ensuring all civil structures are effectively waterproofed to withstand the challenges of housing marine life. The Senior Specialist will collaborate with architects, structural engineers, and contractors to implement...

  • Senior Specialist

    1 month ago

    Jeddah, Makkah Province, Saudi Arabia Parsons Corporation Full time

    Job Description:Parsons is looking for a Senior Specialist - Civil (Waterproofing) to play a key role in constructing an Oceanarium, ensuring all civil structures are effectively waterproofed to withstand the challenges of housing marine life. The Senior Specialist will collaborate with architects, structural engineers, and contractors to implement...

  • Senior Risk Management Specialist

    2 weeks ago

    Jeddah, Makkah Province, Saudi Arabia Islamic Development Bank Full time

    Job PurposeThe purpose of the job is to manage the implementation and execution of the bank's model risk management framework. This includes participating in the implementation of model risk management policies and procedures, performing ongoing model risk monitoring, undertaking model validation, identifying & reporting on model risk, and maintaining a...

  • Risk Manager

    2 weeks ago

    Jeddah, Makkah Province, Saudi Arabia proven Full time

    The Risk Manager is responsible for managing the risk of theorganization, its employees, customers, reputation, assets, and stakeholders'interests. He will work in various sectors and may specialize in several areas,including enterprise risk, corporate governance, regulatory and operationalrisk, business continuity, information and security risk, technology...

  • Risk Manager

    2 weeks ago

    Jeddah, Makkah Province, Saudi Arabia Parsons Full time

    Parsons is looking for an amazingly talented Risk Manager to join our team:SPECIFIC RESPONSIBILITIES:- Develops and implements the program risk management plans:- Develops Standard operating procedures for the risk management of the program and ensure that QIP delivers operational consistency across the program:- Provides outreach oversight and provides...

  • Risk Management Specialist

    2 weeks ago

    Jeddah, Makkah Province, Saudi Arabia Islamic Development Bank Full time

    Business Unit: President Complex Division: Not Applicable Job Purpose: Job Purpose: The role contributes to the quantitative portfolio risk assessment function for the Risk Management Department by quantifying the Bank risk appetite metrics, measuring and monitoring the Bank risk profile in order to safeguard IsDB interests. The role also entails...

  • Risk Management Specialist

    2 weeks ago

    Jeddah, Makkah Province, Saudi Arabia Islamic Development Bank Full time

    Job PurposeThe role contributes to the quantitative portfolio risk assessment function for the Risk Management Department by quantifying the Bank risk appetite metrics, measuring and monitoring the Bank risk profile in order to safeguard IsDB interests. The role also entails providing the required analytical support in the development of enterprise-wide...

  • Risk Management Specialist

    2 weeks ago

    Jeddah, Makkah Province, Saudi Arabia Islamic Development Bank Full time

    JOB PURPOSE:Support formulation of Bank-wide Valuation Policy on assets and security collaterals in OCR and other funds. Perform independent valuation function and provide guidance on impairments. Ensure adherence to the investment policies in the respective fund portfolios as managed/administered by Investment Department. Performance monitoring from risk,...

  • Senior Specialist, Information Security

    2 weeks ago

    Jeddah, Makkah Province, Saudi Arabia Cruise Saudi Full time

    Title: Senior Specialist, Information Security Location: Jeddah, Makkah, Saudi Arabia Description: About Cruise SaudiCruise Saudi, launched in 2021 and wholly owned by the Public Investment Fund, aims to enhance Saudi Arabia's cruise industry from port development to full-scale operations, striving to position KSA as a top global cruise destination.Job...

  • Risk Management Specialist

    2 weeks ago

    Jeddah, Makkah Province, Saudi Arabia Islamic Development Bank Full time

    Business Unit: President Complex Division: Not Applicable Job Purpose: Job Purpose: Support formulation of Bank-wide Valuation Policy on assets and security collaterals in OCR and other funds. Perform independent valuation function and provide guidance on impairments. Ensure adherence to the investment policies in the respective fund portfolios as...

  • Risk Management Specialist

    2 weeks ago

    Jeddah, Makkah Province, Saudi Arabia Islamic Development Bank Full time

    Business Unit: President Complex Division: Not Applicable JOB PURPOSE:: JOB PURPOSE:: Support formulation of Bank-wide Valuation Policy on assets and security collaterals in OCR and other funds. Perform independent valuation function and provide guidance on impairments. Ensure adherence to the investment policies in the respective fund portfolios as...

  • Risk Management Associate

    2 weeks ago

    Jeddah, Makkah Province, Saudi Arabia Azizia Panda United Inc. Full time

    OPERATIONALConduct detailed data analysis to identify and assess potential risks within the grocery retail sector. Assist in the development and maintenance of risk registers, working closely with the risk managers. Work on project and major strategic initiatives and provide diligent risk assessments Follow up on controls and tasks implementation and...

  • Manager, Credit Risk

    2 weeks ago

    Jeddah, Makkah Province, Saudi Arabia Islamic Development Bank Full time

    The Credit Manager will be required to evaluate trade finance proposals and conduct detailed due diligence, credit and financial analysis, risk scoring, and produce a risk-focused Credit Memorandum (CM) to support sound credit decisions under the guidance of a Senior Credit Manager.This role requires entry-level Credit Professional with responsibilities to...

  • Risk Management Associate

    2 weeks ago

    Jeddah, Makkah Province, Saudi Arabia Panda Company Full time

    Risk Management AssociateJob DescriptionOPERATIONAL Conduct detailed data analysis to identify and assess potential risks within the grocery retail sector. Assist in the development and maintenance of risk registers, working closely with the risk managers. Work on project and major strategic initiatives and provide diligent risk assessments Follow up on...

  • Manager, Credit risk

    2 weeks ago

    Jeddah, Makkah Province, Saudi Arabia Islamic Development Bank Full time

    SECTION I:JOB PURPOSEThe Credit Manager will be required to evaluate trade finance proposals and conduct detailed due diligence, credit and financial analysis, risk scoring, and produce a risk-focused Credit Memorandum (CM) to support sound credit decisions under the guidance of a Senior Credit Manager.This role requires entry-level Credit Professional with...

  • Risk Intelligence

    2 weeks ago

    Jeddah, Makkah Province, Saudi Arabia Bupa Arabia Full time

    Design a robust Fraud Risk Management Framework in line with regulatory and risk management standards in order to enforce the zero-tolerance approach against internal and external fraud & to continuously assess the framework. Develop an internal network of good business conduct and fraud champions that would help in developing a culture of fraud awareness...

  • Senior Specialist

    2 weeks ago

    Jeddah, Makkah Province, Saudi Arabia Parsons Oman Full time

    Job Description:Parsons is seeking a highly experienced Senior Water Supply Public Health Specialist with at least 20 years of relevant experience to join our team. The successful candidate will provide technical expertise and guidance to our client for the construction of a state-of-the-art stadium, ensuring compliance with all relevant water supply and...

  • Risk Manager

    2 weeks ago

    Jeddah, Makkah Province, Saudi Arabia Redfish Solutions Full time

    Leading international consultancy Long term role Great opportunityA leading international construction consulttancy is seeking an experienced Risk Manager to join their team in Medina - Saudi Arabia. This role offers an exciting opportunity to contribute to the success of high-profile hospitality projects and ensure effective risk management throughout the...

  • Governance, Risk,

    2 weeks ago

    Jeddah, Makkah Province, Saudi Arabia AlBorg Diagnostics Full time

    Al Borg Diagnostics, a leading provider of diagnostic health services in Saudi Arabia, is seeking a skilled and experienced Governance, Risk, & Compliance Director to join our team. As our Governance, Risk, & Compliance Director, you will play a critical role in ensuring that our operations are conducted in compliance with legal and regulatory requirements...

  • Senior Specialist

    2 weeks ago

    Jeddah, Makkah Province, Saudi Arabia Parsons Oman Full time

    Job Description:Parsons is seeking a Senior Drainage Public Health Specialist to provide technical expertise and leadership for the construction of a state-of-the-art stadium. The ideal candidate will have extensive knowledge in drainage systems, water supply, waste management, and public health standards. This role requires a professional who can ensure...