Risk Manager

Al Futtaim Private Company (LLC); United Arab Emirates; On-site; AED 250,000 - 450,000; Full time

Job summary

Al Futtaim Private Company (LLC) seeks a Risk Manager to support the CRO in maintaining an independent enterprise risk management function. You will identify, assess, monitor and report material risks, promote sound risk culture, and protect solvency and regulatory standing.

The role requires strong knowledge of UAE insurance regulation, ORSA, solvency, stress testing, and the ability to provide independent challenge across strategy, pricing, and major projects.

Qualifications

• Bachelor’s degree in risk-related field required; postgraduate or professional qualification preferred.
• Typically 3–5 years of relevant experience, including insurance industry experience.
• Strong knowledge of UAE insurance regulation, ERM, ORSA, solvency, stress testing and related areas.
• Board-level reporting, regulatory engagement, and excellent communication skills; English fluent; Arabic advantageous.

Responsibilities

• Maintain enterprise risk management framework, policies, taxonomy, risk register, and committee governance.
• Support risk appetite setting, limits, and KRIs; monitor exposures and escalate breaches.
• Provide independent challenge on strategy, pricing, underwriting, investments, and major projects.
• Coordinate ORSA linking risk profile, strategy, capital, and solvency; conduct stress and reverse-stress testing.

Skills

ERM

ORSA

Regulatory knowledge

Stress testing

Reporting

Communication

Arabic advantage

Education

Bachelor’s degree in risk management, actuarial science, finance, accounting, insurance or a related field

Postgraduate or professional qualification preferred

Job description

The Risk Manager supports the CRO in maintaining an independent and effective enterprise risk management function The role identifies assesses monitors and reports material risks promotes sound risk culture and protects policyholders solvency and the Company s regulatory standing

Regulatory Context

The role shall comply with applicable UAE insurance laws and CBUAE requirements including the Risk Management and Internal Controls Regulation related Standards and the Corporate Governance Regulation

Key Responsibilities

• Maintain the enterprise risk management framework policies risk taxonomy risk register and committee governance Support the Company in setting risk appetite limits and key risk indicators monitor exposures and promptly elevate breaches Provide independent challenge on strategy business plans products pricing underwriting claims reserving reinsurance investments outsourcing technology and major projects Assess all material risks including insurance credit market liquidity operational conduct regulatory cyber model climate concentration and emerging risks Coordinate the Own Risk and Solvency Assessment ORSA linking risk profile strategy business plan capital solvency and risk appetite Conduct stress scenario and reverse-stress testing report vulnerabilities and monitor management actions Provide timely reports on the risk profile appetite utilisation ORSA stress tests material events breaches and remediation Maintain records of risk events losses near misses and control failures oversee root-cause analysis and action closure Support accurate regulatory submissions and supervisory reviews Monitor regulatory developments and translate them into policies controls and implementation actions Review control effectiveness and ensure risk acceptance is properly authorised and documented Coordinate with Compliance Actuarial and Internal Audit while preserving each function s independence Maintain complete and auditable risk records models assumptions and decisions

Requirements

Bachelor’s degree in risk management, actuarial science, finance, accounting, insurance or a related field; relevant postgraduate or professional qualification is preferred.

Typically 3-5years of relevant experience, including at least 3 years in insurance industry.

Strong knowledge of UAE insurance regulation, ERM, ORSA, solvency and capital, stress testing, underwriting, reserving, reinsurance, investments and operational resilience.

Board-level reporting and regulatory engagement experience; strong judgement, analytical ability, professional courage and communication skills.

Fluent business English; Arabic is an advantage.