Risk Management Consultant

TAX Risk Management Consultant Job Summary :

The Risk Management Function plays a critical role in safeguarding the integrity and efficiency of the system. This position is responsible for leading the development and implementation of a comprehensive risk management framework in TAX Authority, with a specific focus on the unique challenges and opportunities present in GCC region. The ideal candidate possesses in-depth knowledge of regional TAX laws, regulations, and business practices, coupled with a strong understanding of risk assessment methodologies and control strategies, who will look after organizational risk, financial risk, operational risk, reputational, cyber risk etc.

Key Responsibilities Risk Assessment and Analysis :

Conduct comprehensive risk assessments to identify, analyze, and prioritize potential risks across all the tax entity functions

Develop and maintain a risk register, documenting identified risks, their potential impact, likelihood of occurrence, and mitigation strategies.

Utilize data analytics and other tools to monitor and evaluate the effectiveness of risk mitigation efforts.

Risk Management Framework Development :

Develop and implement a risk management framework tailored to the specific needs and characteristics of the GCC region.

Establish clear risk appetite and tolerance levels in alignment with the entity's strategic objectives and regulatory requirements.

Define roles and responsibilities for risk management across the entity, ensuring accountability and ownership at all levels.

Develop and deliver training programs to enhance risk awareness and understanding among the entity employees.

Control Design and Implementation :

Design and implement effective internal controls to mitigate identified risks and ensure compliance with tax laws and regulations.

Collaborate with relevant stakeholders to integrate risk management considerations into business processes and decision-making.

Experience with integration with external entities that feed into the risk model

Regularly review and update control procedures to adapt to evolving risks and regulatory changes.

Compliance Monitoring and Reporting :

Monitor compliance with tax laws and regulations, identifying and addressing any instances of non-compliance.

Develop and implement a comprehensive reporting system to provide timely and accurate information on risk exposure and mitigation activities.

Prepare regular reports for senior management and other stakeholders, highlighting key risk areas and recommending appropriate actions.

Qualifications and Experience

Bachelor’s degree in accounting, Finance, Law, or a related field.

Master's degree or professional certification in risk management is preferred.

Experience with statistics or econometrics models.

15+ years proven experience in a risk management role within a tax or related organization.

In-depth knowledge of tax laws, regulations, and business practices in the GCC region.

Strong understanding of risk assessment methodologies and control strategies.

Excellent analytical, problem-solving, and decision-making skills.

Effective communication and interpersonal skills.

Ability to work independently and as part of a team.

Fluency in English, Arabic is advantageous.

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