Project Risk Engineer

Job description / Role

Responsibilities

Key responsibilities:

The project risk manager is responsible for identifying, assessing, and managing risks throughout the lifecycle of oil and gas projects. This includes ADNOC Offshore operations, ensuring risk mitigation strategies are embedded in project planning and execution to safeguard timelines, budgets, safety, and compliance.

The position takes accountability for the planning, development, and management of the risk management plan. This position must integrate the risk function across all projects and plan, develop, and manage the risk management plan and portfolio for projects to ensure appropriate risk management and to provide risk management support to projects in line with the project risk management framework and enterprise risk management framework.

This includes the following:

• Project risk standards
• Project support (portfolio, programme, and project levels)
• Risk identification, analysis, and mitigation
• Risk communication and consultation
• Facilitation and presentations

Gate reviews and compliance

• Facilitation of risk reviews through the various phases of front-end loading
• Ensuring alignment with the group risk management standards for each phase
• Ensuring alignment with other key elements/parties of the project, e.g., engineering, procurement, construction, commissioning, estimating, scheduling, and cost accounting
• Support the development of commercial contracts from a risk management perspective and adjust, where required, the risk management plan based on the outcomes of negotiations
• Ensure alignment of all key stakeholders on risk tolerance principles for the project
• Schedule and facilitate regular risk reviews
• Ensure calibration of risks on the project and between projects within the same business unit
• Track implementation of treatment actions and analyze their efficacy
• Initiate and facilitate risk assessment of any material changes to the project
• Support estimating and finance/project economics in the quantification of risks to support forecasting and contingency setting
• Interpret the results from the analysis and modelling and provide advice and guidance to managers
• Liaise with project staff, particularly the planning and cost control teams, in respect of contingency and uncertainty forecasting
• Develop and implement risk management plans and processes for major capital projects
• Identify project-specific risks (technical, environmental, financial, regulatory, safety) through qualitative and quantitative analysis
• Facilitate risk workshops with project teams and stakeholders
• Maintain risk registers and ensure accurate documentation of all identified risks and mitigation strategies
• Coordinate with engineering, construction, procurement, and HSE teams to integrate risk mitigation into project execution plans
• Monitor and report on risk status and trends throughout the project lifecycle
• Provide risk input to project governance bodies, change control boards, and steering committees
• Liaise with contractors and vendors to assess and align risk management practices
• Contribute to lessons learned and continuous improvement initiatives in risk management
• Ensure compliance with corporate and regulatory standards related to risk
• Ensure quality assurance of data input into reports
• Assist in the quantification of risks
• Maintain a clear, up-to-date risk register for the project (both from a business case and execution perspective)
• Incorporate risks and opportunities identified in reviews into the project risk register
• Ensure quality and frequency of risk reviews
• Track and analyze treatment actions
• Provide quality analysis and resulting recommendations
• Early transparent reporting of risk issues and progressive trending of risk exposure
• Support project controls, finance, and project economics in quantification of risks
• Contribute to improving the quality and performance of risk processes and systems
• Prepare and maintain the live risk register in the risk management system and ensure it is reviewed monthly
• Consolidate project risk data to ensure a holistic picture is formed regarding the project
• Advise and ensure that all risk owners are aware of all the risks for which they are responsible for managing, including a summary of all risks monthly
• Oversee that all controls and management measures identified are implemented and monitored by the risk or action owner
• Update enterprise risk management team with strategic project risk portfolio and ensure smooth synergy

Qualifications

• Bachelor's degree in engineering, project management, risk management, or related field
• Master's degree or professional certification (e.g., PMI-RMP, Prince2, ISO 31000) preferred
• 10+ years of experience in project risk management, ideally in the oil and gas sector
• Experience with risk analysis tools such as SAFRAN, Deltek Acumen, Primavera Risk Analysis, @RISK, or similar
• Strong knowledge of project controls, planning, and HSE risk factors
• Quantitative background preferable in statistics, scientific modelling, financial modelling

Skills

• Excellent communication, facilitation, and stakeholder management
• In-depth knowledge of risk management processes and systems
• Cost and schedule risk modelling using specialised software
• Working knowledge of project scheduling
• Able to work with minimal supervision
• Strong numerical skills
• Strategic thinker and able to forecast
• Ability to clearly communicate and articulate project requirements and visions at all levels
• Preferable to undertake qualitative and quantitative risk analysis and modeling (e.g., Monte Carlo) for both cost and schedule for the project and individual work packages

About the Company

Wood is a global leader in consulting and engineering, helping to unlock solutions to critical challenges in energy and materials markets. We provide consulting, projects and operations solutions in 60 countries, employing around 35,000 people.