Regional Manager – Insurance Risks

Gig Gulf; Dubai; On-site; AED 180,000 - 260,000; Full time

Job summary

Gig Gulf in Dubai seeks a Senior Insurance Risk Manager to lead risk activities including reserving, reinsurance, risk appetite, underwriting and product reviews, aligned with local regulations and the RM framework.

You will collaborate with UW, actuarial and Reinsurance teams to deliver credible risk opinions and support financial risk management and internal controls. The role requires strong leadership and communication skills for executive-level discussions.

Qualifications

• Actuarial background required.
• Graduate in mathematics, statistics or engineering.
• At least 5 years as actuary, risk manager, or a technical function in insurance or reinsurance.

Responsibilities

• Lead insurance risk management activities including reserving, reinsurance, risk appetite, underwriting and product reviews.
• Represent RM in forums and committees and support CRO when unavailable.
• Coordinate with underwriting, actuarial and reinsurance teams; ensure credible risk opinions.
• Contribute to financial risk management such as ALM, credit risk, and liquidity monitoring.
• Support internal control and operational risk activities as needed.
• Manage and develop the insurance risk team.

Skills

Analytical skills

Communication skills

Relationship management

Time management

Presentation skills

Stakeholder management

Education

Graduate in mathematics / statistics / engineering

Job description

To lead the Insurance risk management activities including but not limited to Reserving, Reinsurance, Risk Appetite, Underwriting and Product reviews. Support the delivery of the comprehensive risk management system by contributing to Financial and Operational disciplines on a need basis.

Key Responsibilities:

• Drive the area of Insurance risk management in alignment with local regulation and the company’s RM framework.
• Represent the Risk Management function within different forums and committees in support or in case of unavailability of the CRO.
• Act as the point of contact to the UW, Actuarial, Reinsurance teams for all risk management related matters, developing a cooperating and value adding interactions and maintaining the credibility and reliability of the risk management opinions and reviews.
• Contribute to financial risk management activities such as Assets Liability Matching, Credit Risk Assessment, and liquidity monitoring.
• Support on a need basis the internal control and operational risk activities.
• Manage and develop the insurance risk team members.

Operational & Technical Responsibilities:

• Maintain and update on a yearly basis in consultation with the business counterparts the insurance risk management policies.
• Maintain and update the insurance risk appetite framework and limits on an annual basis, in coordination with the UW and reinsurance teams. Monitor exposures against the limits on a quarterly basis.
• Contribute to the production of the Risk Management opinion on Strategic Plan and Capital adequacy.
• Conduct a 2nd opinion on reserves for Life and P&C to ensure the appropriateness of reserves.
• Conduct pricing peer reviews and sensitivity analysis exercises on large deals and provide an independent opinion for the UW committee.
• Perform comprehensive reviews (pricing, profitability, business plan, T&C, operational setup, compliance) on new products and changes to existing products before implementation.
• Develop and update reinsurance counterparty risk models and maintain the list of approved securities.
• Update, maintain, and develop stochastic models for CAT and Large losses for the purpose of reinsurance modelling, pricing, and optimization. Leverage the output of the models to deliver a formal Risk Management opinion on the appropriateness of the reinsurance structure.
• Actuarial background.
• Graduate in any discipline preferably mathematics, statistics, or engineering.
• At least 5 years as actuary, Risk Manager, or holding a technical function in an insurance or reinsurance company or in a consulting environment.
• Ability to deal with and support various ExCom, Heads of departments and with members representing all facets of the business and challenge / influence them as required.
• Ability to identify the salient points in complex topics and formulate clear and straight to the points communication to business executives.
• Sound technical and analytical skills with the ability to leverage past experiences to provide credible / relevant inputs in new situations.
• Ability to be detail oriented and at the same time have the global picture in mind.
• Stress and time management skills to comply with demanding deadlines.
• Relationship Management skills to deal with the different stakeholders locally and across the Group.
• Excellent communication and presentation skills both verbal and written.