Risk Manager

Roles and responsibilities

Risk Identification and Assessment

1. Risk Identification

   • Identifying potential risks that could impact the organization, ranging from financial risks (e.g., market fluctuations, credit risk) to operational risks (e.g., supply chain disruptions, equipment failure) and external risks (e.g., regulatory changes, natural disasters).
   • Collaborating with different departments to gather insights and ensure a comprehensive risk identification process.

2. Risk Assessment and Evaluation

   • Analyzing the likelihood and potential impact of identified risks, categorizing them based on severity, and determining their potential effect on the organization’s goals.
   • Using risk management tools and methodologies (e.g., Risk Matrix, SWOT Analysis, Monte Carlo Simulation) to evaluate risks.

3. Risk Prioritization

   • Prioritizing risks based on their probability of occurrence and the severity of their potential impact.
   • Determining which risks should be addressed immediately and which can be monitored over time.

Risk Mitigation and Control

1. Developing Risk Mitigation Strategies

   • Designing and implementing strategies to reduce, avoid, transfer, or accept identified risks.
   • Developing contingency plans to address high-priority risks and ensuring there are proactive measures in place to prevent negative outcomes.

2. Implementing Risk Controls

   • Ensuring that risk controls (e.g., safety protocols, cybersecurity measures, insurance policies) are effectively implemented and followed.
   • Monitoring the effectiveness of risk mitigation strategies and adjusting them when necessary to improve their effectiveness.

3. Business Continuity Planning

   • Creating and maintaining business continuity and disaster recovery plans to ensure that the organization can continue operations in the event of a crisis, such as a natural disaster, cyberattack, or supply chain disruption.

Compliance and Regulatory Risk

1. Ensuring Regulatory Compliance

   • Ensuring that the organization adheres to relevant laws, regulations, and industry standards to avoid legal and compliance risks (e.g., GDPR, SOX, HIPAA).
   • Keeping up-to-date with changes in regulations that could affect the organization’s operations.

2. Internal Controls and Audits

   • Overseeing internal controls to prevent fraud, financial mismanagement, and operational failures.
   • Collaborating with internal audit teams to evaluate the effectiveness of risk management processes and identify potential weaknesses.

Desired candidate profile

A leading Oil & Gas engineering business have an exciting new opportunity for a Risk Manager to join their team based in Sharjah, UAE.

Your Responsibilities

Conduct full risk assessments and Monte Carlo analysis for Priority 1 bids

Create and maintain risk register templates

Ensure HSE and information security compliance

Develop risk management action plans

Monitor project risk implementation

Prepare cashflows for Priority 1 bids

Communicate risk status to senior management

Your Qualifications

Relevant degree/certification in Risk Management

Minimum 10years industry experience including experience of setting up risk registers and running Monte Carlo simulations.

5+ years project controls experience

Proficient in risk analysis tools (@Risk)