Risk Management Consultant

Overview

The Risk Management function is vital for maintaining system integrity and operational efficiency. This role involves spearheading the creation and execution of an all-encompassing risk management framework tailored to the TAX Authority, specifically addressing the unique risk landscape of the GCC region. The successful candidate will bring extensive knowledge of regional tax legislation, regulatory environments, and business customs, alongside expertise in risk evaluation and control methodologies. They will oversee diverse risk categories including organizational, financial, operational, reputational, and cyber risks.

Key Responsibilities

• Carry out thorough risk evaluations to identify, assess, and prioritize potential risks across all tax-related functions.
• Create and maintain a detailed risk register outlining identified risks, their impacts, likelihoods, and strategy for mitigation.
• Leverage data analytics and related tools to monitor and gauge the success of risk reduction initiatives.
• Develop and implement a GCC-focused risk management framework aligned with the organisation’s strategic goals and regulatory compliance.
• Define risk appetite and tolerance levels clearly and communicate these within the entity.
• Specify risk management roles and responsibilities to ensure ownership and accountability throughout the organisation.
• Conduct training sessions to enhance employees’ risk awareness and comprehension.
• Design and enforce robust internal controls to mitigate risks and ensure adherence to tax laws.
• Collaborate with various stakeholders to embed risk management into everyday business processes and decisions.
• Facilitate integration with external parties contributing to the risk modelling process.
• Regularly review and update control mechanisms to address emerging risks and regulatory amendments.
• Monitor compliance with tax regulations, addressing any non-compliance issues promptly.
• Establish a comprehensive reporting framework to deliver timely and precise updates on risk status and mitigation activities.
• Prepare periodic risk reports for senior leadership and other relevant stakeholders, highlighting critical risk areas and recommending corrective actions.

Qualifications and Experience

• Bachelor’s degree in Accounting, Finance, Law, or related fields.
• Advanced qualifications such as a Master’s degree or professional certification in risk management preferred.
• Experience with statistical or econometric modelling techniques.
• At least 15 years of demonstrated experience in risk management within tax or similar sectors.
• Comprehensive understanding of tax laws and business practices in the GCC region.
• Proficient knowledge of risk assessment methods and control implementation strategies.
• Strong analytical, problem-solving, and decision-making capabilities.
• Excellent communication and interpersonal skills suitable for independent and collaborative work environments.
• Fluency in English is mandatory; proficiency in Arabic is an asset.