Risk Management Professional

This role involves overseeing the implementation of risk management strategies to mitigate potential threats to the organization. Key responsibilities include:

• Developing and implementing a risk management framework that guides teams in identifying, assessing, evaluating, and mitigating significant risks.
• Providing guidance on risk assessment and control adequacy, cost-effectiveness, and identification.
• Establishing processes, systems, and procedures to support the enterprise-wide risk management framework.
• Implementing risk management information requirements, reporting thresholds, and early warning indicators.
• Reporting identified risk exposures to senior management, aligning with approved risk appetite and tolerance limits.
• Collaborating with department heads to ensure monitoring and compliance with the approved risk management framework.
• Monitoring internal controls and systems relevant to risk management.
• Organizing risk workshops and driving action points for implementation with department heads, risk champions, and risk owners.
• Developing and recommending risk appetite and tolerance limits for consideration by the risk management committee.
• Monitoring risk parameters against tolerance limits, as reported and identified by risk owners and department heads.
• Presenting periodic risk reports to senior management.
• Drafting risk policies and procedures for review and recommendation by the risk management committee.
• Planning risk management-related awareness sessions among departments and ensuring correct program implementation through guided training and/or e-learning modules.
• Presenting updated contract registers to senior management and the risk management committee as required.
• Automating ERM processes through implementation and maintenance of ERM software.
• Ensuring close coordination with individual departments in proper articulation of risks and determination of severity of impact and probability of occurrence using a top-down and bottom-up approach.
• Coordinating with internal audit department for arrangement of risk-based audits.
• Facilitating business and support groups in risk-based performance evaluation.
• Conducting risk-related reviews as assigned by senior management, risk management committee, and the board's risk committee, ensuring findings are reported to business units, senior management, and if necessary, the board.
• Convening risk management committee/board's risk committee meetings as per terms of reference and approved rules of business.
• Ensuring identification of successors for key positions through proper development.
• Facilitating learning through trainings in coordination with human resource management group and interactive sessions among employees.
• Appraising the performance of employees deputed in the risk management department.
• Reporting key risks in the annual report.
• Overseeing quality reviews of divisional and departmental risk management, policies, processes, people, audit & compliance reports to identify iterative risks and systems.
• Assisting departments in categorizing risks according to pre-defined criteria into categories including 'critical', 'catastrophic' etc. based on level of severity and likelihood of happening as defined in the risk management framework.
• Building and improving capabilities to respond effectively to low-probability, critical, and catastrophic risks.
• Developing risk registers for documenting, storing, and maintaining risk information and conducting in-depth analysis of key risks by obtaining information and data from departments.
• Managing the program to update risk registers on a monthly basis with active participation from respective departments.
• Ensuring preparation of comprehensive management reports from consolidated risk-related information.
• Presenting reports to the risk management committee and board's risk committee on a quarterly basis for inputs and monitoring progress of necessary actions by departments to mitigate identified risks.