Risk Manager

Dubai Insurance Co.; Dubai; On-site; AED 400,000 - 700,000; Full time

Job summary

Dubai Insurance Co. in Dubai seeks a qualified Risk Manager to lead enterprise risk management, governance, and regulatory compliance. The role focuses on designing and maintaining an ERM framework aligned with CBUAE rules and supporting the Board and Risk Committee with risk reporting.

The successful candidate will have 3–5 years in insurance risk management or actuarial functions, with knowledge of ISO frameworks and strong analytical and communication skills.

Qualifications

• 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.

Responsibilities

• Develop, implement, and maintain an ERM framework per CBUAE regs.
• Ensure operations align with risk appetite; support Board risk oversight.
• Oversee capital management, solvency, and risk reporting requirements.
• Oversee reinsurance oversight and counterparty risk monitoring.
• Identify and monitor key risks; implement KRIs and early warning indicators.
• Conduct stress testing and scenario analysis; assess resilience.
• Ensure compliance with CBUAE regulations and governance standards.
• Provide independent risk assessment on new products and strategic initiatives.

Skills

Analytical skills

Quantitative skills

Stakeholder management

Communication

Education

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

Tools

ISO 31000

ISO 22301

ERM frameworks

Job description

We are seeking a highly motivated and experienced Risk Manager to join our team. If you are interested and meet the requirements

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: assess 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.

Key Competencies

• 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