Job Description
The Risk Director will be responsible for developing, implementing, and overseeing comprehensive risk management strategies that align with the company's objectives, particularly in the context of large-scale development and construction projects. This role requires a deep understanding of risk management across various stages of project development, including planning and construction. The Risk Director will ensure that risks are proactively identified, assessed, mitigated, and monitored to protect the Qiddiya’s interests and ensure successful project delivery.
Essential duties and responsibilities
- Establish the Qiddiya Program risk management framework, procedures, templates and processes, and seek continuous improvement
- Oversee the identification and assessment of risks associated with real estate development and construction projects, including financial, operational, technical, and legal risks.
- Conduct regular risk assessments and scenario analyses for ongoing and future projects to understand potential exposures.
- Ensure risk registers and databases are accurately maintained and regularly updated.
- Design and implement risk mitigation strategies for high-impact risks, ensuring corrective actions are taken to minimize or eliminate risk exposure.
- Work closely with project teams to ensure risk management practices are embedded in project execution.
- Lead regular risk reporting including the development of key risk indicators (KRIs) to monitor the risk profile of project
- Ensure that risks are tracked and reported through all phases of project lifecycles and that any emerging risks are promptly escalated.
- Provide periodic updates and insights on evolving risks and potential future threats to project success.
- Lead and mentor the risk management team, promoting a culture of continuous learning and improvements.
- Provide the leadership to guide the Qiddiya Program and Portfolios in implementing the risk management plan
- Lead implementation of the Program and Project(s) risk management plan and produce Portfolio and Project Risk Register(s)
- Lead creation of the Program Risk Register and Program Risk Dashboard and other reports as may be specified, or ad hoc reports as required
- Ensure that the appropriate risk data is captured and that risk assessments are carried out on all aspects of the Qiddiya Program and Projects
- Provide leadership to ensure that risk treatments are identified, and effective monitoring and review processes are undertaken across the Qiddiya Program and Projects
- Implement the necessary training and provide support to the Qiddiya Program and Project team(s)
- Identify changes to the risk profile, personnel, the work, or the work environment that may change the effectiveness of risk treatments
- Monitor compliance against best practice standards and codes across the Qiddiya Program, including auditing the risk management plans, procedures and processes of the Executive Portfolios and assessing Risk Maturity in each area
- Review and approve Quantitative Risk modelling, including the Quantitative Schedule Risk Analysis (QSRA) and Quantitative Cost Risk Analysis (QCRA) reports.
- Collaborate with project teams to integrate risk controls into project plans, schedules, and budgets.
