Principal Duties & Responsibilities:
Analyse the overall entity-wide corporate strategic objectives and shall facilitate in setting the context for Risk Management framework deployment.
Engage in detailed study of identification of all the external factors (political, economic, social, technological, legal, regulatory, and environmental) that could impede company in achievement of its strategic objectives.
Update risk registers on a regular basis as per the ERM Policy and maintain all documentation pertaining to risk plans, reviews and assessments
Bring in outside perspectives and help confront cognitive and institutional biases of the respective departments, in order to help identify and analyse emerging risks that may impact strategic assumptions or require changes to strategy/direction.
Coordinate with all internal functions to collect required documents/ information with the purpose to analyse and assess the risks associated with respective functions while factoring into account the overall strategic direction.
Facilitate Head of Risk Management in deployment of a risk assessment and measurement procedure that ensures identification of risks on a periodic basis, with real-time escalations, while leveraging use of data (competitive market intelligence), risk metrics, and departmental inputs.
Recommend initiatives to departments with high residual exposure to mitigate identified risks.
Ensure compliance with international risk management standards (ISO 31000:2018 and COSO ERM) and UAE Regulations.
Support Head of Risk Management to ensure that risks are integrated with strategic planning of the company and risk strategy includes use of sophisticated tools such as scenarios analysis, KRIs, KPIs, and advanced measurements of risk appetite elements.
Provide recommendations to the Head of Risk Management on the company wide key critical risks relevant to all functions in order to create cost-effective controls for effective protection against risks.
Develop KRIs for entity-wide key risks and ensure KRIs are aligned with KPIs so that risk management is considered as part of strategy management.
Follow up and report the status of all initiatives identified to mitigate risks.
Undertake efforts to ensure aggregation of total risk exposure from several risk management functions (e.g., ERM, BCMS, ISMS, QMS etc.) prior to devising entity-wide key risks.
Facilitate risk management workshops to departments in drafting their risk registers while factoring into account the entity-wide risk profile and submit the same Head of Risk Management for review.
Coordinate with respective departments on standardizing risk taxonomy and risk assessment criteria across risk management, business continuity management, information security, and compliance management to provide a single comprehensive view of risk on a real time basis across all risk classes to internal and external stakeholders.
Facilitate Head of Risk Management in devising Risk management training and risk culture surveys to enhance company’s risk culture just so tone from the top reflects Executive Management’s commitment to risk management being a clear priority