Risk Officer

Job description / Role

Risk Officer - Qatari Preferred

- To contribute to the overall risk management plan and assess the degree of risk facing UDC. To safeguard UDC and its Subsidiaries, its customers, reputation, assets and the interests of stakeholders by identifying and managing the threats to the achievement of its business objectives.
- Assist in the design & development of a risk management framework. Tasks involved but not limited to:
* Understanding the organization and its environment;
* Establishing risk management policy & process;
* Identification of risk accountability;
* Establishing internal and external communication and reporting mechanism;
- Conduct risk assessment (tasks include risk identification, risk analysis, risk evaluation and risk treatment;
- Preparation and periodic maintenance of the risk register and model;
- Collaboration with business units to understand risk exposures associated with various business processes and procedures;
- Periodic or ad-hoc monitoring and review of risk improvement recommendations and risk performance for the purposes of:
* Ensuring that controls are effective and efficient in both design and operation;
* Obtaining further information to improve risk assessment;
* Analyzing and learning lessons from events, changes, trends, successes and failures;
* Identifying emerging risks
- Preparation of risk report and recommendations to management in regards to risk performance
- Continual improvement and update of the risk management framework
- Conduct risk management presentation and training to create a risk aware culture
- Liaise with risk consultants in case of outsourcing.
- Perform other duties as assigned
- During risk management exercises, misunderstandings with or lack of cooperation from the business units might be encountered in addition to potential miscommunication among departments in case of risk exercises involving several departments. In such cases, the Risk Officer is required to elevate the noted concerns to the Internal Audit Manager and the CAE. Subsequently, the Risk Officer is required to evaluate and select the appropriate problem solving technique and attempt to solve such problems in coordination with IA & RS Management.
The Risk Officer is accountable towards:
* IA & RS Management;
* Audited Units Management;
* UDC Executive Management; and
* Audit Committee in providing accurate, reliable, relevant, objective, clear, concise and complete information on the results of the different reviews, as it might be the basis for their decision making in the related areas
- The Risk Officer should always comply with the IIA standards and code of ethics and the Companys policies and procedures and the code of conduct.
- To undertake any other duties that may be required as determined by the Supervisor or Manager.

Requirements

Bachelors Degree in Accounting, Financial Management, Business Administration or other related field
Relevant professional certification in risk management
Minimum of 5 years professional working experience in risk management.
Track record in implementing operational risk methodologies.
Excellent understanding of risk and control frameworks, methodologies and regulations such as COSO Internal Control and ERM framework.
Working knowledge of various risk management standards and ability to apply them effectively.

About the Company

United Development Company (UDC) was established in July 1999 as one of the leading private sector shareholding companies in the State of Qatar and the Middle East, and has been listed on the Doha Securities Market since June 2003.

UDCs mission is to identify and invest in long-term projects contributing to Qatars growth and providing good shareholder value. The company has an authorized share capital of QR 1.072.5 billion (US $294 million), a market capitalization of US$ 902MM and total assets of US$ 1,131 MM.

From day one, the companys mandate and mission has been to become a cornerstone of the development of Qatar, creating lasting value and maximizing returns for partners and shareholders.