Manage YASREF's risk management programs by planning , developing, implementing, directing, consolidating,
driving and reporting all risks management activities to minimize risk and liabilities in ensuring achievement of
YASREF's organizational vision and business strategies. Develop and monitor Enterprise Risk Management
(ERM), and Insurance policies and procedures in accordance with strategies and operational priorities. Provide
support and performs business risk analysis, interprets data and generates reports that will support the decision
making of the management. Ensure Internal Control are following applicable laws and regulations. Lead and
control Internal controls systems, policies & compliance to ensure good governance. Ensure internal control &
Policy is maintained in accordance with strategies and operational priorities.
1. Lead the ERM Function of Yasref. Design and implement an overall financial risk management process for YASREF that includes credit, market, operational and regulatory risks.
2. Maintain an effective internal control framework and report its efficiency and effectiveness to management. Ensure relevant policies and procedures are in place in accordance with the requirement. Reduce and mitigate the risk of errors, frauds and losses.
3. Obtain management assurances on the adequacy of internal controls and compliance with YASREF internal control principle and report to Board of Directors.
4. Monitor the set internal controls to ensure their efficiency and effectiveness. Ensure internal controls are established based on a risk-oriented approach to ensure focus on high-risk areas. Improve the internal control efficiency and work with the Control owners to remediate the identified control weaknesses.
5. Lead the Insurance Function of Yasref. Lead risk analysis and identify potential impact for the organization. Develop risk management and business continuity plans to limit and/or mitigate impact of identified risks.
6. Coordinate the office for ‘Risk Management Committee' of Yasref. Assist the Committee in setting risk strategies, policies and frameworks. Coordinate with departments and subject matter expert to formulate effective risk mitigation measures. Review the risk capacity of the company and ensure regulatory compliance.
7. Develop risk reports for YASREF Management and Shareholders. Recommend and establish the acceptable levels of risk for YASREF based on Management inputs. Advice Management on changes to risk profile due to regulatory changes.
8. Prepare risk management and insurance budgets. Liaise with underwriters and insurance companies to implement risk management plans.
9. Ensure responsibility and administration of ERM and Insurance framework and facilitate continual improv
Saudi Aramco and China Petrochemical Corporation (Sinopec) have agreed to have a joint venture signed in January 2012. The agreement brings together two world-class companies to complete the construction and operate a highly competitive full-conversion refinery in Yanbu Industrial City. YASREF Vision: “By 2020, YASREF shall be among the most recognized pace setter enterprises in the world”