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NEOM is an accelerator of human progress and a vision of what a new future might look like. A region in northwest Saudi Arabia on the Red Sea, NEOM is being built from the ground up to include hyperconnected, cognitive cities, ports, next-generation infrastructure and industries, enterprise zones, research centers, sports and entertainment venues and tourist destinations.
As a destination, it will be a home for people who dream big and want to be part of building a new model for exceptional livability, creating thriving businesses and reinventing environmental conservation.
As a workplace, it is a place for people who share our core values of care, curiosity, diversity, passion, respect, and becoming a catalyst for change.
Are you ready to help NEOM find solutions to the world’s most pressing challenges? Are you prepared to create a lasting legacy that benefits generations to come? Then we want to hear from you!
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KEY ACCOUNTABILITIES & RESPONSIBILITIES
Implementation of the Risk Framework for NEOM Company and Building Risk Function
- Support the Project Risk hiring process (for positions reporting into the Senior Manager).
- Support the development of full year Project risk plans incorporating key activities that can improve the maturity of risk management activities. Ensure these plans are integrated with the overall ERM Function’s yearly and long-term plans.
- Manage performance of Project risk vertical’s employees (for direct reportees). This includes choosing metrics and setting targets (to be conducted jointly with the ED and HR function), identifying relevant training programs, creating targeted employee level development plans, enhancing team capabilities, and/or coaching team members.
Risk Governance
- Support Risk Governance vertical (of ERM Function) to maintain the formalized risk and control policies, frameworks, and procedures.
- Lead development and formalization of Project risk processes. Ensure integration of these processes with ERM’s Framework, guidelines, and risk management processes.
- Ensure that Project Risk Management and Controls processes are fit-for-purpose and aligned with NEOM’s Project Lifecycle, Strategy, Plan-of-Work, etc.
- Support the development and maintenance of Project risk and control taxonomy.
- Assist in defining and/or updating relevant Risk Appetites and limits / thresholds applicable to Project risks
Risk monitoring and reporting
- Lead the monitoring of relevant Project Risk Appetites, report breaches and propose treatment steps.
- Lead the conduct of regular risk and control identification and assessment programs with broader NEOM Project -level stakeholders, and report results to Senior Management.
- Lead the effective implementation of the ERM governance documents in Project risk vertical (including ERM Policy, ERM Framework, Internal Controls Framework, etc.)
- Lead the development and maintenance of Project Risk and Control Matrices (‘RCMs’). This includes:
- Identifying and assessing risks including those related to the project stages and lifecycle (e.g., master planning, design, construction, asset commissioning, handover, etc.), interface/ interdependent risks, infrastructure risks, business/ proponent level risks, safety risks, contractor / third party risks, etc.)
- Documenting and assessing control effectiveness. This includes ensuring that adequate processes (aligned with the ERM and Internal Controls Framework) are implemented for self-assessment, monitoring, testing and reporting of project control effectiveness.
- Defining / enhancing treatment plans for effective risk mitigation (with support from front line stakeholder groups).
- Lead the implementation of appropriate processes to monitor the timely rollout of treatment plans. Lead the Project Risks risk treatment plan reporting processes including escalation of delayed treatments to relevant senior management.
- Lead the identification, assessment, treatment, and monitoring of Project key risks, principal risks and aggregated risk exposures.
- Lead the development of Project related Key Risk Indicators (‘KRIs’) and their limits (linked with Risk Appetites). Further, lead the development of KRI data collection and evaluation mechanisms to ensure periodic monitoring.
- Lead the conduct of independent deep-dive reviews of Project risk and control areas, related NEOM Entities, Regions, Sectors, and Projects, or risk incidents/ control breaches. Accordingly, also lead the development of reports highlighting factual findings, root-causes, and treatment actions.
- Lead the conduct and/or review of Project Risk quantification exercises and related models (including QSRA, QCRA, 3-Point Estimates, etc.)
- Support the risk-based assessments of Project time and cost contingency planning.
- Support the development/ enhancement of the Project risk reporting structure including reporting processes, templates, and dashboards. Ensure that reporting is integrated with overall ERM reporting.
- Lead the regular on-time reporting of Project risks to relevant stakeholders (including senior management, management committees, board committees, etc.).
Risk Tools, Models and Technology
- Lead the development of appropriate Project risk management tools and models (e.g., continuous control monitoring tools, QSRA, QCRA, Monte-Carlo simulations, etc.)
- Support the implementation and/or enhancement of core GRC systems and tools
- Where required, lead the independent validation of tools / systems / applications used in Projects across NEOM.
Collaboration
- Provide strategic and expert advice to the Director – Project Risks, other ERM Domain Leaders, and to broader stakeholder groups on Project risk management, and associated governance.
- Work closely with all stakeholders of projects (including project management, engineering and technical services teams, project controls, etc.).
- Promote a strong risk culture across NEOM.
- Promote a strong culture of collaboration across the ERM Function.
- Conduct regular trainings for NEOM staff on Project risk matters.
- Identify the relevant emerging best practices in Project risk management and ensure their implementation in NEOM if appropriate.
- Assist NEOM’s engagement with external parties, including external auditors, appointed consultants, and regulatory bodies.
- Work with other Risk Domain teams (i.e., Operational and Technology Risks, Financial & Strategic Risks, and Risk Governance), providing input on Project risk exposures, control weaknesses, risk interdependencies, etc.
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BACKGROUND, SKILLS & QUALIFICATIONS
Knowledge Skills and Experience
- 10+ years of experience focusing on risk management and internal controls.
- Demonstratable exposure to large capital projects, real estate companies, contractors/ project management consultants, business consultants, would be an advantage. Experience in the GCC region would also be an advantage.
- Demonstratable expertise in Project risk domains including experience of conducting risk reviews, control assessments, and enhancements.
- Knowledge of the Project risk quantification approaches supported with experience in implementing related models and conducting quantification.
- Experienced in implementing and operating automated controls systems linked to wider GRC technologies.
- Change leadership and organizing skills. A strong and organized personality.
- Self-confidence and the ability to communicate with others. Must be skillful at building collaborative relationships across NEOM and its Subsidiaries and across all lines of management.
- Ability to handle confidential and sensitive matters.
- Strong analytical skills, particularly in regard to assessing risk impact, likelihood or assessing internal control weaknesses.
- Ability to communicate clearly and effectively in English, both orally and in writing. Knowledge of other languages is desirable.
- Advanced skills in report-writing and presentation techniques.
Qualifications
- Bachelor’s degree in Engineering/ Accounting / Business Administration / Finance / Economics or similar from an accredited university.
- A postgraduate degree would be an advantage. Additional certifications from internationally recognized bodies would be an advantage (e.g., PRM, CA/CPA or equivalent, FRM, etc.).
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