Chief Risk Officer | Al Futtaim Finance Company | Financial Services
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Key skills for this role
About the Role
Al Futtaim Finance Company is seeking a Chief Risk Officer to lead the independent Risk Management function as the second line of defense. The CRO is responsible for enterprise-wide risk oversight across credit, operational, technology, and regulatory risks, and will report to the Board and senior management.
Key Skills for This Role
Responsibilities
- Lead the independent Risk Management function as the second line of defense
- Develop, maintain and review enterprise risk framework, Risk Appetite Framework, risk policies, KRIs, limits, thresholds and escalation procedures
- Provide timely risk reporting, independent risk opinions and escalation of material risk matters to the Board, Board Risk Committee and senior management
- Provide independent second line oversight and challenge on credit risk, including exposures, deviations, restructurings, write offs, concentration risk, provisioning indicators and portfolio deterioration
- Monitor portfolio quality, concentration risk, delinquency trends, provisioning indicators, early warning indicators, risk appetite breaches and stress signals
- Oversee stress testing and scenario analysis
- Oversee operational risk, outsourcing and third party risk, technology and information security risk, cyber risk, business continuity and resilience risk
- Support CBUAE examinations, supervisory reviews, remediation plans, regulatory responses and risk related submissions
- Provide independent risk input on policies, DoA changes, outsourcing arrangements, new products, new services, distribution channels, strategic initiatives and major business changes
- Lead the Risk function and promote strong risk culture through governance forums, training, awareness and engagement
Requirements
- Bachelor's degree in Finance, Risk Management, Accounting, Economics, Business Administration, Mathematics or related field
- Master's degree and professional qualifications such as FRM, PRM, CFA, CA, CPA or ACCA preferred
- Minimum 12–15 years in risk management within financial services, with senior experience in a regulated lending, finance or banking environment
- Enterprise risk management, Risk Appetite Framework, credit risk oversight, portfolio monitoring, stress testing, operational and outsourcing risk, technology and information security risk, regulatory engagement, Board reporting, policy review, risk data governance, leadership and stakeholder management
Full Job Posting
Company Overview
- Established in the 1930s as a trading business, Al Futtaim Group today is one of the most diversified and progressive, privately held regional businesses headquartered in Dubai.
- Structured into five operating divisions: automotive, financial services, real estate, retail and healthcare.
- Employs more than 35,000 employees across more than 20 countries in the Middle East, Asia and Africa.
Role Summary
- The Chief Risk Officer leads AL Futtaim Finance Company independent Risk Management function as the second line of defense for a CBUAE regulated finance company.
- Responsible for enterprise wide risk oversight across credit, portfolio, operational, outsourcing, technology, information security, resilience, model risk, emerging, strategic and regulatory risks.
- Owns the Enterprise Risk Management Framework, Risk Appetite Framework, risk policies, risk reporting, monitoring and escalation processes.
- Provides independent challenge, risk opinions and escalation to the Board, Board Risk Committee and senior management.
- Supports CBUAE readiness, regulatory reviews, remediation plans and acts as the primary risk representative with CBUAE on risk matters.
Responsibilities
- Enterprise Risk Governance, Framework and Risk Appetite: Develop, maintain and review AFF's enterprise risk framework, Risk Appetite Framework, risk policies, KRIs, limits, thresholds and escalation procedures.
- Board Risk Committee and Executive Risk Reporting: Provide timely risk reporting, independent risk opinions and escalation of material risk matters to the Board, Board Risk Committee and senior management.
- Independent Credit Risk Oversight and Challenge: Provide independent second line oversight and challenge on credit risk, including exposures, deviations, restructurings, write offs, concentration risk, provisioning indicators and portfolio deterioration.
- Portfolio Monitoring, Risk Appetite, Stress Testing and Early Warning Oversight: Monitor portfolio quality, concentration risk, delinquency trends, provisioning indicators, early warning indicators, risk appetite breaches and stress signals.
- Operational, Outsourcing, Technology and Resilience Risk Oversight: Oversee operational risk, outsourcing and third party risk, technology and information security risk, cyber risk, business continuity and resilience risk.
- Regulatory Risk Management, CBUAE Readiness and Remediation Support: Support CBUAE examinations, supervisory reviews, remediation plans, regulatory responses and risk related submissions.
- Risk Input into Governance, Policy, New Products and Strategic Change: Provide independent risk input on policies, DoA changes, outsourcing arrangements, new products, new services, distribution channels, strategic initiatives and major business changes.
- Risk Culture, Leadership and Governance Evidence: Lead the Risk function and promote strong risk culture through governance forums, training, awareness and engagement.
Requirements
- Bachelor's degree in Finance, Risk Management, Accounting, Economics, Business Administration, Mathematics or related field.
- Master's degree and professional qualifications such as FRM, PRM, CFA, CA, CPA or ACCA preferred.
- Minimum 12–15 years in risk management within financial services, with senior experience in a regulated lending, finance or banking environment.
- Enterprise risk management, Risk Appetite Framework, credit risk oversight, portfolio monitoring, stress testing, operational and outsourcing risk, technology and information security risk, regulatory engagement, Board reporting, policy review, risk data governance, leadership and stakeholder manage
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