Risk Specialist

Job description / Role Job Type Full Time Job Location Bahrain Nationality Any Nationality Salary Not Specified Gender Not Specified Arabic Fluency Not Specified Job Function Research & Development (R&D) Company Industry Retail Position: Risk Specialist Department: Risk & Compliance Reports to: Audit, Risk & Compliance Manager Location: Bahrain Role Purpose: the job holder is responsible for identifying and assessing the risks associated with corporate operations and for detecting, managing, and mitigating organizational threats across all functions. The job holder designs, implement, and continuously enhance risk management models and supports the business by providing expert advice on specific subject matters such as malpractice, financial crime, training, and competence and works with the company on emerging issues; analyzes data, maintain accurate records, and produce detailed reports. They also participate in reviews and audits to ensure compliance with company policies and regulatory requirements. In addition, the job holder shall monitor the impact of the Board's business plan on the overall risk management framework and provides proactive coaching, guidance, and support to ensure its effective implementation across the organization. KEY RESPONSIBILITIES, ACCOUNTABILITIES AND ACTIVITIES Risk Identification & Assessment • Conduct comprehensive risk assessments for new and existing business activities, third-party arrangements, outsourcing roles, and emerging risks. • Gather and analyze qualitative and quantitative data through document reviews, interviews, and process walkthroughs to identify vulnerabilities. • Evaluate the likelihood and impact of risks using established frameworks (e.g., ISO 31000, COSO ERM). • Prioritize risks based on exposure levels and recommend appropriate mitigation actions. Risk Mitigation & Control Development • Collaborate with business units to develop and implement risk mitigation strategies, controls, and contingency measures. • Establish and monitor Key Risk Indicators (KRIs) and trigger limits to detect early signs of risk escalation. • Support management in implementing and testing internal controls to ensure design effectiveness and operational efficiency. Risk Monitoring & Reporting • Maintain and update the corporate risk register in collaboration with Internal Audit, Compliance and relevant departments. • Prepare periodic risk reports highlighting key trends, control gaps, and emerging issues for management and the Risk Committee. • Lead the business continuity project in collaboration with cross-functional divisions to establish and strengthen organizational resilience. • Coordinate periodic risk reviews and ensure that business continuity and crisis management plans remain current, tested, and effective. Regulatory & Compliance Alignment • Stay abreast of evolving regulatory requirements and ensure organizational compliance with applicable laws, regulations, and industry standards.