Chief Risk Officer
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Key skills for this role
About the Role
Al-Futtaim is seeking a Chief Risk Officer to lead the independent Risk Management function for Al-Futtaim Finance Company, a CBUAE-regulated finance company.
Key Skills for This Role
Responsibilities
- Develop, maintain and review AFF’s 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; act as AFF’s primary risk representative with CBUAE on risk matters
- 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
- Expertise in 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
Job Requisition ID: 179465
- 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; employing more than 35,000 employees across more than 20 countries.
Role Overview
- 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.
- The CRO is responsible for enterprise wide risk oversight across credit, portfolio, operational, outsourcing, technology, information security, resilience, model risk where applicable, emerging, strategic and regulatory risks.
- The role owns the Enterprise Risk Management Framework, Risk Appetite Framework, risk policies, risk reporting, monitoring and escalation processes.
- The CRO provides independent challenge, risk opinions and escalation to the Board, Board Risk Committee and senior management, while remaining independent from revenue generating activities.
- The CRO also supports CBUAE readiness, regulatory reviews, remediation plans and acts as the primary risk representative with CBUAE on risk matters.
Responsibilities
- Develop, maintain and review AFF’s 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; act as AFF’s primary risk representative with CBUAE on risk matters.
- 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 manage
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