IDB2292 - Senior Risk Management Specialist (Operational)

Business Unit: President Complex
Division: Not Applicable
Department: Risk Management Department
Country: Saudi Arabia
Location: Saudi Arabia - Jeddah
Closing date: 19-Jun-2019

Role Purpose:

The role of Senior Risk Management Specialist (Operational) is responsible to support the development and implementation of the bank’s enterprise-wide Operational Risk framework, strategy and policies, including operational risk identification, assessment, control, monitoring, and reporting in order to ensure operational risks are managed within agreed parameters, internal policies and external regulatory obligations. Moreover, the jobholder provides technical guidance and support to less experienced team members.

This role is suitable for operational risk professionals and candidates who has experience on information/cyber security, IT Audit, IT risk assessment.

Candidates who are certified or have been trained on ISO 27001, CISA, CISM, ITIL, COBIT and related certifications are preferred.

The role will be part of the operational risk function as second line of defense and responsible for the oversight role over information/cyber security, IT risk assessment, review of IT business processes, change management processes and other related areas.


Key Accountabilities:

Operational Risk Management

  • Develops, implements and maintains, in coordination with the Lead, a comprehensive framework for Operational Risk Management, to enable management of risk of losses arising from inadequate or failed processes, people, systems, external events etc.
  • Conducts accurate and in-depth Risk and Control Self-Assessments with the effective use of risk models and relevant software to identify the scale and sources of operational risk at the level of IsDB and recommends proper procedures to log such events and quantifies potential impacts.
  • Implements advanced operational risk modeling, monitoring and reporting and proposes recommendation regarding cost-effective mitigation measures to minimize potential losses that may arise.
  • Works closely with the Information Technology function to implement relevant operational risk management activities to properly record, manage and mitigate operational risks.
  • Liaises with other functions in the bank to develop a Shariah Risk Management Compliance Framework for all activities in the Bank.
  • Prepares standardized or ad-hoc customized risk assessment reports for the management to effectively monitor the operational risk profile of IsDB, in close coordination with the other risk management functions.
  • Undertakes necessary activities regarding the prompt implementation of the Early Warning system in the bank, in coordination with the concerned departments. 

Operational excellence 

  • Provides technical guidance and reviews the work delivered by less experienced team members.
  • Monitors the effective implementation and adherence to respective risk management policies, procedures and controls so that all relevant procedural / legislative requirements are fulfilled.
  • Keeps abreast of the latest developments, regulations and leading practices in the field and proposes any necessary actions.
  • Proposes and implements process improvements to increase efficiency, effectiveness and compliance of the related operations.
  • Prepares financial plans and budget for the operational risk function and monitors actual expenditure against the approved budget. 

Job Requirements:

Academic qualifications

  • Bachelor's degree in Economics/ Finance/ Risk Management/ Mathematics/ Business Administration or related discipline. Master’s degree/MBA/EMBA or equivalent is preferred
  • Professional risk management certifications –CIA/CFA/PRM/FRM/CQF or equivalent is preferred


  • English (mandatory)
  • Arabic (preferred)
  • French (preferred)

Minimum number of years and nature of experience

  • 7 - 10 years’ relevant experience in the risk management function, with at least 3 years in Operational Risk preferably at Multilateral Development Banks

Job specific competencies

  • Risk Assessment skills among others RCSA, KRI and Loss Data
  • Operations and Operational Risk Evaluation
  • Governance, Risk and control including COSO
  • Analytical Thinking
  • Knowledge, Learning and Communication
  • Problem Solving
  • Stakeholder Management
  • Attention to detail


Jeddah, Head Office


Travel Requirements:

Limited, as per business requirements