Risk Manager

Key Responsibilities & Duties

• Creating a document of acceptable risks in the company that explains the degree of acceptable risks and the limits of the company’s tolerance according to the type of risk (operational risks, financial risks, strategic risks, reputational risks, money laundering risks, risks Market, risks of non-compliance, etc.) and reviewed and updated periodically.
• Preparing and providing workshops and training courses for the company’s employees for the purpose of raising awareness about the risks facing the company and the measures taken to reduce these risks.
• Preparing the company’s risk register includes setting the company’s objectives and operations, identifying, analyzing and evaluating all types of risks associated with its operations, evaluating the control measures taken to mitigate them, and the final classification of the inherent risk. The remainder will be determined according to the risk matrix prepared for this purpose and submitted to senior management for review and approval.
• Updating the risk register periodically through continuous follow-up and in accordance with a plan prepared for this purpose and in coordination with the regulatory departments to ensure that the executive departments implement the regulatory procedures and controls taken related to risks. Especially medium, high and very high levels, with continuous follow-up of treatment plans and providing the necessary support to develop them.
• Submitting a report to the company’s senior management that includes the current and potential risks for each of the departments, compared with the results of the risk analysis in accordance with the company’s specific risk tolerance standards, along with presenting proposals and recommendations for decision-making. Appropriate handling of risks that may affect the company’s work and ways to address them.
• Preparing questionnaires to be delivered to department managers for the purpose of identifying the risks facing the department from the point of view of the department manager, as well as conducting interviews with department managers for the purpose of discussing the risks that have been identified for the department in question and how to identify them. And mitigate the impact of every risk.
• Coordination with the Internal Audit Department to ensure the extent to which the executive departments apply the procedures, supervisory controls, and the corrective plan to address the risk in accordance with internationally followed risk and auditing standards.
• Preparing a feasibility study for the new services and products that the company intends to provide to its customers before launching them through a team A work that includes relevant sections. The feasibility study includes an analysis of the strengths, weaknesses, costs, the extent of their benefit to the company, and what risks are likely to occur, then writing a report on that with an assessment of the risks and developing strategies or methods. To reduce or limit them, how to follow up on their implementation, and carry out modification and improvement procedures to ensure sustainability in providing the service.
• Risk management must participate in meetings and committees for making strategic decisions at the company level by assessing risks and providing the necessary advice related to those decisions.
• Preparing a guide to policies and procedures and a framework that includes mechanisms for identifying, analyzing, evaluating, measuring, monitoring and controlling risks on an ongoing basis and the organizational structure of the Risk Management Department based on the ISO 31000 standard for distributing Tasks and responsibilities in accordance with relevant international standards and governance principles to ensure the continuity of achieving the company’s objectives Efficiently and effectively.
• Participate in preparing the periodic compliance report that is sent to the Central Bank of Iraq.
• Developing and developing risk management strategies to ensure that risks are reduced and managed within the company’s risk tolerance limits, whether related to the security of the technology used or implementing fraud detection procedures of all kinds.

Skills & Requirements

• BSc degree required in economics, public administration, financial management, accounting, financial and banking sciences, statistics, quality management, law, information technology, business economics/banking management, investment and resources, accounting or financial control).
• The risk management Team must have proof of his participation in training courses related to their field of work and must hold one of the professional certificates ISO27005, ISO31000, Certified Operational Risk Manager (CORM) or any other professional certificates in the field of risk management.
• Three (3) years of experience required in the financial, banking, or regulatory fields.