Chief Risk Officer

Job Requisition ID: 179465

Established in the 1930s as a trading business, Al-Futtaim Group today is one of the most diversified and progressive, privately held regional businesses headquartered in Dubai, United Arab Emirates. Structured into five operating divisions; automotive, financial services, real estate, retail and healthcare; employing more than 35,000 employees across more than 20 countries in the Middle East, Asia and Africa, Al-Futtaim Group partners with over 200 of the world's most admired and innovative brands. Al-Futtaim Group’s entrepreneurship and relentless customer focus enables the organization to continue to grow and expand; responding to the changing needs of our customers within the societies in which we operate.

By upholding our values of respect, excellence, collaboration and integrity; Al-Futtaim Group continues to enrich the lives and aspirations of our customers each and every day

The Chief Risk Officer leads AFF’s independent Risk Management function as the second line of defense for a CBUAE-regulated finance company.

The CRO is responsible for enterprise-wide risk oversight across credit, portfolio, operational, outsourcing, technology, information security, resilience, model risk where applicable, emerging, strategic and regulatory risks.

The role owns the Enterprise Risk Management Framework, Risk Appetite Framework, risk policies, risk reporting, monitoring and escalation processes.

The CRO provides independent challenge, risk opinions and escalation to the Board, Board Risk Committee and senior management, while remaining independent from revenue-generating activities, first-line credit approvals, underwriting execution and operational decision-making.

The CRO also supports CBUAE readiness, regulatory reviews, remediation plans and acts as the primary risk representative with CBUAE on risk matters.

Responsibilities:

1. Enterprise Risk Governance, Framework and Risk Appetite

Develop, maintain and review AFF’s enterprise risk framework, Risk Appetite Framework, risk policies, KRIs, limits, thresholds and escalation procedures.

2. Board Risk Committee and Executive Risk Reporting

Provide timely risk reporting, independent risk opinions and escalation of material risk matters to the Board, Board Risk Committee and senior management.

3. Independent Credit Risk Oversight and Challenge

Provide independent second-line oversight and challenge on credit risk, including exposures, deviations, restructurings, write-offs, concentration risk, provisioning indicators and portfolio deterioration.

The CRO does not own first-line credit approvals or underwriting execution.

4. Portfolio Monitoring, Risk Appetite, Stress Testing and Early Warning Oversight

Monitor portfolio quality, concentration risk, delinquency trends, provisioning indicators, early warning indicators, risk appetite breaches and stress signals.

Oversee stress testing and scenario analysis.

5. Operational, Outsourcing, Technology and Resilience Risk Oversight

Oversee operational risk, outsourcing and third-party risk, technology and information security risk, cyber risk, business continuity and resilience risk.

Review and challenge first-line controls and escalate material weaknesses

6. Regulatory Risk Management, CBUAE Readiness and Remediation Support

Support CBUAE examinations, supervisory reviews, remediation plans, regulatory responses and risk-related submissions.

Act as AFF’s primary risk representative with CBUAE on risk matters.

7. Risk Input into Governance, Policy, New Products and Strategic Change

Provide independent risk input on policies, DoA changes, outsourcing arrangements, new products, new services, distribution channels, strategic initiatives and major business changes.

8. Risk Culture, Leadership and Governance Evidence

Lead the Risk function and promote strong risk culture through governance forums, training, awareness and engagement.

Ensure risk decisions, exceptions, escalations and committee submissions

Requirements:

• Bachelor’s degree in Finance, Risk Management, Accounting, Economics, Business Administration, Mathematics or related field. Master’s degree and professional qualifications such as FRM, PRM, CFA, CA, CPA or ACCA preferred.

• Minimum 12–15 years in risk management within financial services, with senior experience in a regulated lending, finance or banking environment.

• Enterprise risk management, Risk Appetite Framework, credit risk oversight, portfolio monitoring, stress testing, operational and outsourcing risk, technology and information security risk, regulatory engagement, Board reporting, policy review, risk data governance, leadership and stakeholder management.
About Al-Futtaim Group Real Estate
The real estate development and operations arm of Al-Futtaim, Al-Futtaim Group Real Estate is responsible for a multi-billion-dollar portfolio across MENA. With high-quality residential, business, retail, tourism, educational and healthcare developments, the master developer caters to the diverse needs of cities and communities in the region. From origination, conception, development, sales, procurement and construction of mega-projects and the leasing, operation and management of these projects after completion, Al-Futtaim Group Real Estate (AFGRE) has been developing and managing owned landbanks, unlocking the economic potential of the region and contributing to future development for more than 40 years.
Our focus is to enable and invest in meaningful relationships to make our properties the best places to live and work, build additional products and services and enable partnerships to create true value to our customers throughout their entire experience with us.
AFGRE is responsible for master planning of all projects in its portfolio, including two large scale mixed use destinations: Dubai Festival City and Cairo Festival City.

About Al-Futtaim Malls
Al-Futtaim Malls provides development and asset management expertise, specializing in building retail-led super regional malls in prime locations across MENA and beyond. With a proven track record of creating both sustainable revenue growth and value enhancement for tenants, Al-Futtaim Malls delivers exceptional experiences and exciting shopping environments for customers.

Part of the Al-Futtaim Group, Al-Futtaim Malls leadership team brings more than 30 years of experience and a deep understanding and knowledge of the retail sector, both from a shopper’s point of view but as curators of space or landlords to other brands. The company has a directly managed portfolio including over 9 million sqft of retail space across four malls in the MENA region and two under development. Malls under the Al-Futtaim Malls portfolio include Dubai Festival City Mall and Festival Plaza in the UAE, Cairo Festival City Mall in Egypt, Doha Festival City in Qatar and Zenata Mall, Morocco.

Leveraging on the expertise of its parent company, Al-Futtaim Malls established PLEX Management Services offering a full array of services including asset management and development, leasing, and brand experience expertise to shopping mall landlords and retail organizations globally. Implementing global best practice and deploying Al-Futtaim Mall’s deep understanding of mall management and retail dynamics, PLEX promises to deliver continuous growth and long-term value for its partners.

For more information on Al-Futtaim Malls, please visit https://www.al-futtaimmalls.com/

About Al-Futtaim Engineering & Technologies
Al-Futtaim Engineering & Technologies offers customers complete engineering and systems integration solutions.
The Engineering arm operates in the UAE, Qatar, Saudi Arabia and Egypt providing a wide variety of products and services from air conditioning, scaffolding and access solutions, elevators and escalators, control and life safety, facilities management, building products, MEP, Energy Management, Technology Infrastructure and Digital Transformation.
The Technologies division provides complete business solutions to large, medium and small customers that include, contact centre solutions, business applications, business intelligence, data management, advanced analytics amongst others. The IT infrastructure portfolio comprises IP telephony, ELV systems, networking solutions, professional audio-visual solutions and managed services.
These solutions are further complemented by services that include project management, installation, testing, commissioning and after-sales maintenance contracts.