Director - Risk - 20013064 DA3
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Key skills for this role
About the Role
Qiddiya Investment Company seeks a Director of Risk to develop and oversee comprehensive risk management strategies for large-scale development and construction projects. The role involves establishing risk frameworks, leading risk assessments, and mentoring a team to ensure successful project delivery.
Key Skills for This Role
Responsibilities
- Establish the Qiddiya Program risk management framework, procedures, templates, and processes
- Oversee identification and assessment of risks associated with real estate development and construction projects
- Conduct regular risk assessments and scenario analyses for ongoing and future projects
- Ensure risk registers and databases are accurately maintained and updated
- Design and implement risk mitigation strategies for high impact risks
- Lead regular risk reporting including development of key risk indicators (KRIs)
- Lead and mentor the risk management team
- Review and approve Quantitative Risk modelling, including QSRA and QCRA reports
- Collaborate with project teams to integrate risk controls into project plans, schedules, and budgets
Requirements
- Bachelor's degree in risk management, construction management, business studies, finance, or related field
- 10 15 years of experience in risk management with significant experience in real estate development, construction, or large scale infrastructure projects
- At least 5 years in mega project construction/development
- Professional certification such as CRA, CEMP, or PMP preferred
- Strong leadership and communication skills
- In depth knowledge of risk management tools, frameworks, and regulatory requirements specific to construction and development
Full Job Posting
Position Overview
- Join Qiddiya Investment Company as a Director Risk, where you'll play a vital role in our development management team meeting initiatives across various projects in the dynamic hospitality sector.
- You will be instrumental in establishing and maintaining robust risk registers and reports that support sound decision making and strategic objectives across our diverse projects.
- The Director Risk will be responsible for developing, implementing, and overseeing comprehensive risk management strategies that align with the company's objectives, particularly in the context of large scale development and construction projects.
Essential Duties and Responsibilities
- Establish the Qiddiya Program risk management framework, procedures, templates and processes, and seek continuous improvement.
- Oversee the identification and assessment of risks associated with real estate development and construction projects, including financial, operational, technical, and legal risks.
- Conduct regular risk assessments and scenario analyses for ongoing and future projects to understand potential exposures.
- Ensure risk registers and databases are accurately maintained and regularly updated.
- Design and implement risk mitigation strategies for high impact risks, ensuring corrective actions are taken to minimize or eliminate risk exposure.
- Work closely with project teams to ensure risk management practices are embedded in project execution.
- Lead regular risk reporting including the development of key risk indicators (KRIs) to monitor the risk profile of project.
- Ensure that risks are tracked and reported through all phases of project lifecycles and that any emerging risks are promptly escalated.
- Provide periodic updates and insights on evolving risks and potential future threats to project success.
- Lead and mentor the risk management team, promoting a culture of continuous learning and improvements.
- Provide the leadership to guide the Qiddiya Program and Portfolios in implementing the risk management plan.
- Lead implementation of the Program and Project(s) risk management plan and produce Portfolio and Project Risk Register(s).
Additional Responsibilities
- Lead creation of the Program Risk Register and Program Risk Dashboard and other reports as may be specified, or ad hoc reports as required.
- Ensure that the appropriate risk data is captured and that risk assessments are carried out on all aspects of the Qiddiya Program and Projects.
- Provide leadership to ensure that risk treatments are identified, and effective monitoring and review processes are undertaken across the Qiddiya Program and Projects.
- Implement the necessary training and provide support to the Qiddiya Program and Project team(s).
- Identify changes to the risk profile, personnel, the work, or the work environment that may change the effectiveness of risk treatments.
- Monitor compliance against best practice standards and codes across the Qiddiya Program, including auditing the risk management plans, procedures and processes of the Executive Portfolios and assessing Risk Maturity in each area.
- Review and approve Quantitative Risk modelling, including the Quantitative Schedule Risk Analysis (QSRA) and Quantitative Cost Risk Analysis (QCRA) reports.
- Collaborate with project teams to integrate risk controls into project plans, schedules, and budgets.
Qualifications
- Bachelor's degree in risk management, construction management, Business Studies, Finance or another relevant field.
- Professional certification such as Chartered Risk Analyst (CRA), certified Risk Management Professional (CEMP), or Project Management Professional (PMP) are preferred.
- 10 15 years' experience in risk management with significant experience in real estate development, construction, or large scale infrastructure projects including at least 5 years in mega project construction/ development.
- Proven track record of successfully implementing risk management strategies at the senior level.
Skills and Competencies
- Strong leadership and communication skills, with the ability to influence and guide project teams.
- Analytical and strategic thinker with a proactive approach to risk management.
- In depth knowledge of risk management tools, frameworks, and regulatory requirements specific to construction and development projects.
- Ability to work under pressure, manage competing priorities, and meet tight deadlines.
- Strong decision making and problem solving abilities.
- Effective collaboration and stakeholder management skills.
- Strategic vision and forward thinking risk management approach.
- Financial acumen and understanding of project financing risks.
- Working knowledge of Active Risk Management (ARM) software is preferred.
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