Position Summary:
Responsible for safeguarding the financial stability and ensuring sustainability of the company while also protecting policyholders interest and ensuring full compliance within the UAE’s regulatory framework at all times.
Essential Duties:
· Design, implement and maintain effective risk management frame work in line with CBUAE requirements
and coordinate with the relevant stakeholders to address and mitigate the risks associated.
· To do risk assessments focusing on underwriting, claims, market and investment risks.
· To ensure strict adherence to CBUAE regulations.
· Maintain risk register for the company and report major risk factors.
· To analyze insurance policies and portfolios to assess risk associated with policy holders and pricing strategies
· Capital Management.
· To apply advanced risk modelling tools and techniques to quantify and analyse potential risks
· To oversee the claims process and technical reserving process to ensure best practice .
· To address emerging risks related to cybersecurity and ensuring data protection.
· To develop and implement reinsurance strategies to mitigate large losses and protect company’s
financial stability.
· To collaborate with departments/branches to implement loss prevention measures and risk reduction strategies.
· To develop and maintain disaster recovery and business continuity plans.
· To evaluate and manage risks associated with third party service providers and vendors.
· To provide training and guidance to employees on risk management.
Minimum Qualifications & Experience:
· Bachelor Degree in finance , risk management or a related field ( Masters Degree preferred) .
· Professional certificates such as CRM highly desirable.
· Minimum 5 to 8 years experience in the insurance industry in the GCC.
· Strong analytical , communication and leadership skill.
· Ability to make informed decision under pressure.
