Risk Manager

Dubai Insurance Co.; Dubai; On-site; AED 300,000 - 420,000; Full time

Job summary

Dubai Insurance Co. is seeking an experienced risk leader to develop and maintain an enterprise risk framework aligned with CBUAE rules. You will support the Risk Committee and Board with risk reporting and dashboards, and oversee capital adequacy and solvency modeling.

The role requires 3–5 years in insurance risk and a solid grasp of ORSA, ISO standards, and governance. Strong communication and integrity are essential.

Qualifications

• Minimum 3–5 years in insurance/reinsurance risk management or actuarial roles.
• Strong knowledge of CBUAE regulations and ERM frameworks.
• Familiarity with ORSA, solvency and capital modelling.
• ISO 31000 and ISO 22301 knowledge.
• Excellent analytical, communication and stakeholder skills.
• High integrity and governance awareness.

Responsibilities

• Develop, implement and maintain an ERM framework aligned to regulations.
• Support risk committee and Board with risk reports and dashboards.
• Oversee capital adequacy, solvency, and economic capital modelling.
• Review actuarial assumptions, methodologies and outputs.
• Identify and monitor key risks; establish KRIs and early warnings.
• Conduct stress testing and scenario analysis regularly.
• Ensure regulatory compliance and risk reporting to authorities.
• Provide independent risk assessment for new products and initiatives.

Skills

ERM framework

Governance

Risk reporting

Regulatory compliance

Stakeholder management

Analytical skills

Education

Bachelor's degree in Risk Management, Actuarial Science, Mathematics, Finance, or related field

Actuarial qualification (partially or fully qualified) preferred

Job description

Key Responsibilities

• Risk Management Framework & Governance: develop, implement, and maintain a comprehensive Enterprise Risk Management (ERM) framework in line with CBUAE regulations;ensure the company operates within its Board-approved risk appetite; support the Risk Committee and Board in risk oversight, including preparation of risk reports and dashboards; establish and maintain risk policies, procedures, and internal controls.
• Technical Risk Oversight: review and challenge actuarial assumptions, methodologies, and outputs where applicable; Support actuarial valuation processes in line with regulatory and accounting standards.
• Capital Management & Solvency: monitor and assess capital adequacy and solvency position in line with CBUAE requirements; support economic capital modelling and stress testing.
• Reinsurance Oversight: a ssess risk transfer effectiveness of reinsurance arrangements including monitoring counterparty risk and credit exposures.
• Risk Identification & Monitoring: identify and monitor key risks, including Underwriting risk, Reserving risk, Market risk, Credit risk, and Operational risk; implement Key Risk Indicators (KRIs) and early warning frameworks.
• Stress Testing & Scenario Analysis: conduct regular stress testing and scenario analysis and evaluate resilience under adverse conditions and emerging risks.
• Regulatory Compliance & Reporting: ensure compliance with CBUAE Insurance Regulations, Corporate Governance Requirements, and Risk Management Standards.
• Business Support & Advisory Provide independent risk assessment on new products and strategic initiatives and business continuity management.

Key Qualifications & Experience

• Bachelor’s degree in Risk Management, Actuarial Science, Mathematics, Finance, or related field.
• Actuarial qualification (partially or fully qualified) preferred.
• Minimum 3- 5 years’ experience in insurance/reinsurance risk management or actuarial functions.
• Strong understanding of: CBUAE insurance regulations; ERM frameworks; ORSA; Solvency and capital models.
• Knowledge of ISO 31000 and ISO 22301 frameworks.
• Strong analytical and quantitative skills
• Ability to challenge and provide independent oversight
• Solid understanding of actuarial techniques
• Excellent communication and stakeholder management skills
• High level of integrity and governance awareness