Senior Risk Management Specialist

Key accountabilities

• Establishing controls to manage risks

• Overall risk and opportunity management

• Promotes a proactive and collaborative approach to resolving and mitigating risks by all members of project teams.

• Develops and implements a strategy to identify and manage risks that threaten the success of each project as well as opportunities to realize benefits.

• These strategies shall take into account existing contract requirements and processes such as “Early Warning Notification”. The consultant ensures that the probability and consequences of positive events are enhanced, and the probability and consequences of negative events are minimized on objectives, and applies a systematic process to identify, analyze and respond to contract risks.

• Risk Management Planning: Decides how to address and plan risk management activities.

• Risk Identification: Conduct formal training to identify the obvious risks and features of each contract that may cause time and cost to exceed or result in not achieving the necessary quality and operational requirements.

• Qualitative Risk Analysis: After identifying the risks, conduct a qualitative analysis of the risks and surrounding conditions to determine the extent of their impact on the objectives.

• Quantitative Risk Analysis: After the qualitative risk analysis, conduct a quantitative risk analysis by measuring the probability of risks and their consequences and estimating their implications for the project objectives and asset management.

• Risk Response Planning: Applied necessary procedures and methods to enhance the chances of achieving the objectives of each project and asset and reduce threats by avoiding, transferring, mitigating and acknowledging risks.

• Make recommendations to the client on tactical decisions on ways in which risks can be controlled, by reducing the probability of occurrence or minimizing the impact. It will also identify ways to improve performance, such as appointing additional staff, detailed work procedures, incentives, use of components, standard sizes, effective communication, detailed planning, and more focused management activity.

• Risk Monitoring and Control: Monitors other risks, identifies new risks, implements risk reduction plans, and evaluates their effectiveness.

• Identifies all current risks (and opportunities) facing each contract. Assesses the risks using probabilistic analysis (probability versus impact), identifies the risks in terms of cost or time impacts, and then proposes strategies to mitigate or avoid the risks and prepares a risk register and presents it to the client for consideration.

• Strategies and risk register are monitored, discussed at regular risk management meetings, and recorded in monthly contract status reports. In the case of opportunities, the consultant identifies the opportunity and recommends a training course to the client to seize the opportunity or enhance its benefit while estimating the time or cost benefits and the level of expenditure necessary to achieve those benefits. The opportunity is seen as an initiative that reduces operational costs

• Conduct any other risk management tasks as requested by the FM Strategic Planning Manager

• Preparing and managing the financial risk register in the manner required by the client

Specific requirements

Knowledge

• In-depth knowledge of strategic planning methods, concepts, and tools.

• In-depth knowledge Risk Management Planning methods and Strategies

• Exceptional analytical and problem-solving skills.

• Excellent communication and presentation skills.

• Ability to develop strong relationships with stakeholders.

• Ability to interpret and analyze large volumes of data in a concise and accurate manner.

• In-depth knowledge of Risk/Financial/Strategic reports, concept/strategic/operational models, and industry standards.

Education & Qualifications

• Bachelor's Degree in relevant field is mandatory

• Master's Degree is preferable

Skills

• Good time management and organisational skills.

• Ability to handle confidential information appropriately.

• Ability to develop self and contribute to the development of others across the Team.

• The ability to manage multiple tasks efficiently and work productively in a fast-paced, team-oriented environment.

• Strong analytical and strategical skills.

Experience

• Practical experience in the Kingdom of Saudi Arabia.

• Experience in quality services and studies.

• Experience in risk analysis engineering.

• Minimum 10 years' Experience