Job Description

Key Responsibilities:

Risk Governance & Strategy:

• Assist in implementing the insurance risk framework, policies, and procedures to ensure effective risk management.
• Support the development of risk management strategies that align with the company’s business objectives and regulatory requirements.
• Provide analytical support in risk oversight across underwriting, pricing, claims, and reinsurance functions.
• Contribute to the execution of the risk appetite framework, ensuring clear communication and adherence within the organization.

Risk Assessment & Mitigation:

• Conduct risk assessments across various insurance portfolios (life, non-life, health, reinsurance) to identify emerging risks and potential exposures.
• Assist in developing risk models and stress-testing methodologies to evaluate financial and operational impacts.
• Work closely with underwriting and actuarial teams to assess and improve risk selection and pricing mechanisms.
• Support reinsurance risk analysis and exposure management.

Regulatory Compliance & Reporting:

• Ensure compliance with local regulatory requirements, including those set by the central bank/insurance authority in the respective GCC country.
• Assist in regulatory reporting, preparing risk reports for senior management, board risk committees, and regulators.
• Stay updated on industry best practices, IFRS 17 implications, Solvency requirements, and other regulatory developments.

Enterprise Risk Management (ERM):

• Support the integration of insurance risk within the broader ERM framework.
• Assist in the ORSA (Own Risk and Solvency Assessment) process, ensuring alignment with regulatory and business requirements.
• Work with finance, actuarial, and investment teams to support capital adequacy and solvency concerns.
• Support capital modeling efforts to ensure appropriate capital allocation and solvency resilience.

Leadership & Stakeholder Management:

• Act as a risk management partner to underwriting, claims, actuarial, and finance teams.
• Develop strong relationships with internal stakeholders to enhance collaboration and engagement.
• Support training and awareness programs on risk management principles and best practices.

Key Qualifications & Experience:

• Highly preferred are candidates with first line experience in underwriting, actuarial or capital modeling in Commercial P&C (notably including Cyber, Energy, or Casualty lines) and/or Life & Health businesses. Particularly if that experience has been obtained at a multinational, multi-line insurer.
• Expertise in capital modeling, including solvency and economic capital assessments is also an advantage.
• Expertise data and analytics including data management, coding and AI use (from automation through to predictive analytics) is also an advantage.
• Bachelor’s or master’s degree in actuarial science, Risk Management, Finance, Insurance, or a related field.
• Professional certifications such as Fellowship in Actuarial Societies (FIA, FSA, FIAI), Chartered Insurance Risk Manager (CIRM), or FRM/PRM are preferred.
• 5+ years of experience in insurance risk management, underwriting, actuarial, or a related field, preferably within a GCC-based insurer.
• Strong knowledge of regulatory frameworks governing insurance in the GCC region.
• Proficiency in risk analytics, stress testing, and capital adequacy assessments.
• Experience in managing ORSA, Solvency, and IFRS 17-related risk processes.
• Experience in capital modeling, including solvency and economic capital assessments.
• Strong analytical, problem-solving, and communication skills.