For a well known client operating in the energy sector in United Arab Emirates, we are currently looking for a ERM Quantitive Risk Moduller. This is a long-term job opportunity.
The ERM Specialist is responsible for driving the risk quantification and analysis and supporting the implementation of Enterprise Risk Management (ERM), including the provision of guidance and tools related to risk quantification. In addition, the role is responsible for developing and updating risk dashboards and reports to support Senior Management with decision making taking into account client’s risk appetite, risk profile and relevant risk management activities, working closely with internal and external stakeholders to ensure this remains relevant and considers any emerging sector trends that may impact the client.
Furthermore, the role is responsible for supporting the ERM Head to use several statistical/mathematical models to explain the impact of key risks in investment decisions, strategic business plans and financial reporting and budgeting exercises. The role will also assist with financial analysis, impact analysis, and scenario analysis to understand financial performance volatility.
Job Specific Responsibility:
Business Risk Quantification
- Monitor usage of ERM processes across the organisation, including but not limited to relevant risk quantification methodologies, tools and templates
- Research and apply new ways to quantify and analyse risks in line with the ERM policy and framework while reviewing and evaluating risk quantification approaches of similar international utilities and single-buyer/system operator organisations
- Provide risk management support within key projects by providing guidance on risk quantification and the application of risk simulation software/modelling (including Monte Carlo Simulation)
- Analyse potential new investment decisions and stress test financial models considering multiple risks/assumptions and offering probabilistic insight on potential investment ROI/LCOE and contribute in drafting investment recommendations based on risk sensitivity analysis.
Financial Analysis and Planning
- Review and challenge business planning and budgets proposed by the client, in consideration of the risk landscape and any necessary contingency reserves, and provide a probabilistic analysis on EBITDA/Unit costs to make a meaningful recommendation from risk perspective
- Perform a risk mapping and quantification exercise to map risks from the risk registers to the profit and loss account and balance sheet
- Analyse the forecasting models used in the forecasting of demand, identify any risks inherent in the models.
- Regularly update risk dashboards and reports based on inputs obtained from the functions and outputs of the risk quantification activities, ensuring accurate documentation
- Monitor and report on KRIs (key risk indicators) across the enterprise risk portfolio consistent with the risk framework in order to measure risk exposure
- Implement necessary tools for the automation of the risk quantification and risk aggregation process and support Risk champions in the risk assessment exercise
- Support business functions including Project Finance, Strategy and Planning and Financial Planning and Reporting on how to quantify/ analyse and report risks and evaluate internal and external risks/issues that may impact EWEC’s core activities
- Identify and analyse sector trends to continuously improve risk management approach, including the identification of gaps in processes and capabilities
- Produce various risk reports in line with the ERM Policy and directives of the ERM Head and Senior Management, working with key contributors to support the analysis of significant risks and the appropriate mitigation measures
- Support in the development and update of ERM training materials to ensure they reflect EWEC’s ERM framework and goals and train Risk Champions and other employees (as needed) on the importance of ERM and EWEC’s ERM tools and methodologies
- Implement all relevant section policies, processes, and procedures so that work is carried out in a controlled and consistent manner
- Execute the continuous improvement of systems, processes and practices taking into account ‘international leading practice’ and changes in business environment, and leveraging insights. This includes supporting the related change management efforts
Prepare risk related reports (as per the ERM framework) and contribute to the preparation of timely and accurate reports to meet the section requirements, policies and standards
Knowledge, Experience and Skills
● Bachelor’s degree in Mathematics, Statistic, Engineering, Risk Management or related field
● Risk Management related qualification preferred [CFA/FRM/ERM Charterholder]
● Financial modelling/Risk Simulation modelling experience
● Minimum of 6 years of extensive experience in risk management specifically in risk quantification and reporting, preferably in a:
● Diverse/multi-cultural business industry (obtained from medium to large organisation)
● Multi-national company
● Energy and utility sector