Senior Manager/ Associate Director — Financial Risk Management Full Time NEW

Protiviti is seeking a high-calibre Manager or Senior Manager to lead engagements within its Financial Risk Management (FRM) vertical across the Middle East. This role sits at the intersection of technical depth and client advisory, requiring the individual to own project delivery end-to-end while serving as the primary interface between delivery teams, clients, and senior internal stakeholders.

The successful candidate will bring strong domain expertise across credit risk, quantitative analytics, Basel capital regulation, and model risk — with the ability to translate complex regulatory and analytical frameworks into actionable client solutions.

Key Responsibilities

Client Engagement & Delivery Leadership

• Lead the end-to-end delivery of FRM engagements across credit risk, Basel III/IV capital adequacy, model risk management, and portfolio analytics
• Act as the primary day-to-day client liaison, managing expectations, escalations, and steering project outcomes toward agreed deliverables
• Develop and present high-quality reports, deliverables, and recommendations to C-suite and Board-level stakeholders at financial institutions
• Drive proposal development and contribute to business development activities in coordination with Senior Directors and Partners

Technical & Domain Execution

• Oversee and review technical workstreams spanning credit risk modelling (PD, LGD, EAD), IFRS 9 ECL, stress testing, and scorecard development
• Provide guidance on Basel III/IV implementation including ICAAP, RWA computation, capital adequacy frameworks, Pillar 2 assessments as well as stress testing and recovery planning.
• Direct model development and validation engagements ensuring adherence to SR 11-7, ECB guidelines, and regional regulatory requirements (CBUAE, SAMA, CBB, CBK)
• Lead portfolio analytics workstreams including concentration risk, credit portfolio modelling, and limit framework design
• Ensure quality and rigour across all analytical outputs; review model documentation, validation reports, and regulatory submissions

Team Management & Mentorship

• Lead and mentor a team of analysts and consultants, providing structured feedback, guidance, and professional development support
• Allocate and manage resources across concurrent engagements, ensuring delivery quality and team well-being
• Collaborate cross-functionally with other Protiviti verticals (Operational Risk, Internal Audit, Technology Risk) on integrated engagements

Thought Leadership & Practice Development

• Contribute to the development of methodologies, frameworks, and tools to enhance Protiviti’s FRM service offerings
• Monitor and synthesise regulatory developments across BCBS, EBA, and regional central banks; translate these into client-ready perspectives
• Author client alerts, white papers, and point-of-view documents on relevant FRM topics

Domain Coverage

Candidates must demonstrate substantive expertise across at least three of the following seven domains, with working knowledge of the remainder:

1. Credit Risk Management – Credit lifecycle, obligor/facility rating frameworks, IFRS 9 ECL, credit stress testing
2. Credit Analytics – PD/LGD/EAD modelling, scorecards (application/behavioural), through-the-cycle vs point-in-time calibration, backtesting, challenger modelling.
3. Basel Capital Adequacy – Basel III/IV, Standardised and IRB approaches, ICAAP/SREP, RWA optimisation, capital planning, Recovery Planning.
4. Model Development – Statistical and ML model development, feature engineering, model performance metrics, challenger models, documentation to regulatory standards.
5. Model Validation – Independent model validation per SR 11-7/ECB guidelines, conceptual soundness, outcome analysis, benchmarking, validation reporting
6. Model Risk Management – MRM framework design, model inventory governance, tiering and materiality, risk appetite, regulatory dialogue on model risk
7. Portfolio Analytics – Credit portfolio modelling, concentration risk, sector/geographic analytics, limit framework, portfolio stress testing, early warning indicators

Qualifications & Experience

Essential

• 8–14 years of experience in financial risk management, with a minimum of 4 years in a consulting environment (Big 4, Tier-1 consultancy, or boutique risk advisory); industry professionals from banks or financial institutions with equivalent seniority will be considered
• Bachelor’s degree in a quantitative discipline (Finance, Mathematics, Statistics, Economics, Engineering); Master’s degree or PhD preferred
• Demonstrated experience leading project teams and managing client relationships at senior levels
• Track record of delivering FRM engagements at banks, investment firms, or financial holding groups — preferably in the GCC or broader MENA region
• Strong written and verbal communication in English; ability to produce executive-grade deliverables independently

Preferred

• Professional certifications: FRM (GARP), CFA, PRM, or equivalent
• Experience with GCC central bank regulatory frameworks (CBUAE, SAMA, CBB, CBK, DFSA, ADGM)
• Proficiency in quantitative tools: Python, R, SAS, or MATLAB for model development/validation
• Prior experience managing multi-geography or multi-workstream engagements
• Arabic language proficiency is an advantage but not required

Location – Riyadh, Saudi Arabia