Head of Risk and Compliance

Job Description

<p><strong>JOB SUMMARY</strong></p><p>Responsible for directing the Risk and compliance Management activities within Dubai Investments &amp; its subsidiaries by providing<span> </span>ongoing assessments of the organizations risks and enterprise risk management (ERM) process compliance framework.</p><p>Responsible to formulate, develop and implement the Enterprise Risk &amp; Compliance Management framework &amp; policy and monitor the same.</p><p><strong>KEY RESPONSIBILITIES</strong></p><p><strong>MANAGERIAL RESPONSIBILITIES</strong></p><ul><li>Provide direction and manage all division staff in performing their delegated tasks. </li><li>Set standards and performance measures. Regularly conduct performance appraisals for risk management staff.</li><li>Ensure that all division staff acquire required skill sets, knowledge and certifications through appropriate training and professional development programs (in coordination with the Human Resources and Administration). </li><li>Coach and counsel them as required. Encourage good communication among all levels of staff. </li><li>Monitor progress of projects through project status meetings or otherwise </li></ul><p><strong> </strong><strong>ORGANIZATIONAL RESPONSIBILITIES</strong></p><ul><li> Develop the Enterprise Risk Management framework and policy for the Group.</li><li>Responsible for&nbsp;the development and execution of the department’s objectives </li><li>Responsible for the development of the&nbsp;policies and procedures and ensure that they are properly implemented.</li><li>Prepare quarterly reports and promptly submit to Risk Committee.</li></ul><p><strong> </strong><strong>FUNCTIONAL RESPONSIBILITIES OF RISK</strong></p><ul><li>Implement Enterprise Risk Management Policy &amp; Roll out the Enterprise Risk Management framework across Dubai Investments &amp; its Subsidiaries.</li><li>In coordination with Senior Management across the Dubai Investments &amp; Subsidiaries, identify, assess, document the key risks that impact achievement of the Group Strategy and ensure communication of key risks.</li><li>Sets the strategic risk management vision and is charged with assisting in delivering the strategy to the company using exceptional leadership skills, network of internal and external alliances and highly developed business skills.</li><li>Build tools &amp; processes and works closely with Business to drive risk informed decision making to monitor &amp; report risks.</li><li>Proactively engage Risk Champions to identify, analyze risk and monitor mitigation plans. Works towards optimizing the risk exposures for DI &amp; its subsidiaries.</li><li>Review implementation of mitigation plans and KRIs for risk identified and reported.</li><li>Undertake training need analysis to determine training requirements and accordingly encourage opportunities for professional development and sharing of knowledge &amp; experience for Risk Management resources.</li><li>Pursue professional development opportunities, including external and internal training and professional association memberships, and share information gained with staff.</li><li>Co-ordinate Risk Management efforts with the Group’s Internal Audit and Compliance functions</li><li>Conduct risk assessments and examine the effectiveness of all levels of management in their stewardship of company resources and their compliance with established policies and procedures.</li><li>Ensure alignment of all sub risk disciplines (Information Security, Business Continuity, Fraud Risk, and others) with ERM.</li><li>Act as the main change agent for the implementation and continuous improvement of the ERM system. <strong>&nbsp;</strong></li></ul><p><strong> FUNCTIONAL RESPONSIBILITIES OF COMPLIANCE</strong></p><ul><li> Develop and implement the compliment framework to verify compliance with applicable laws and regulations.</li><li>Develop an annual compliance plan enumerating the build/ update and review activities to be undertaken in develop compliance budget and resource requirements.</li><li>Conduct compliance review and identify compliance breaches.</li><li>Report findings, recommendations, and management response to audit committee.</li><li>Summarise compliance related information as per annual corporate governance report requirements.</li><li>Build a compliance library of applicable laws.</li><li>Understand regulatory requirements and conduct awareness sessions for relevant stakeholders to facilitate compliance with the applicable laws and regulations.</li><li>Maintain a working knowledge of relevant laws and regulations through periodicals, seminars, training programs, and peer contacts.</li><li>Review regulatory updates and communicate changes to relevant stakeholders.</li><li>Appraise the adequacy of action taken by operating management to correct reported deficient conditions.</li><li>Perform any other duties assigned by direct manager.</li><li> Ensure compliance to AML requirement applicable to real estate subsidiaries.</li></ul><p><strong> </strong><strong>ACADEMIC QUALIFICATIONS</strong></p><ul><li> Bachelor’s degree in accounting / Finance / Business Management</li><li>&nbsp;Relevant professional qualification </li><li>FRM (financial Risk Manager), PRM (professional Risk Manager) ISO 31000 Training</li><li>COSO 2017 certificate.</li></ul><p><strong> </strong><strong>PROFESSIONAL EXPERIENCE</strong></p><ul><li>12 to 15 years’ experience in Operations / Risk Management with at least 7 – 10 years of experience in a Senior Management position.</li><li>Experience of reporting to Board or Senior Management Committees.</li></ul><p><strong> OTHER SKILLS/REQUIREMENTS</strong></p><ul><li> Proficient in using MS Office.</li><li>Reasonable exposure to ERP and Management Information Systems.</li><li>Strong interpersonal and communication skills.</li></ul>