Risk Manager - Enterprise Risk and ORSA

AlFuttaim; Dubai; On-site; AED 201,000 - 335,000; Full time

Job summary

Al-Futtaim is seeking a Risk Manager to support the Chief Risk Officer in maintaining an independent and effective risk management framework, monitoring material exposures, strengthening governance, and protecting policyholders, solvency, and regulatory standing in Dubai.

The role covers enterprise risk management, ORSA, solvency, regulatory compliance, stress testing, insurance risk, and capital oversight, with responsibilities spanning risk appetite, reporting, board interactions, and

Qualifications

• Bachelor's degree in Risk Management, Actuarial Science, Finance, Accounting or related field.
• Postgraduate qualification or professional certification is a plus.
• 3–5 years of relevant experience, including at least 3 years in insurance.
• Strong understanding of UAE insurance regulation and governance.

Responsibilities

• Maintain the enterprise risk management framework, policies, taxonomy, risk register and governance structures.
• Develop and maintain risk appetite statements, limits and key risk indicators.
• Monitor risk exposures against thresholds and escalate breaches promptly.
• Provide independent risk challenge on strategy, pricing, underwriting, reserving and investments.
• Coordinate ORSA, link risk profile with strategy, capital, and appetite.
• Conduct stress testing, scenario analysis, and reverse-stress testing.
• Prepare timely risk reports for board and management and track remediation.
• Maintain records of risk events, losses and control failures with actions.

Skills

Enterprise risk management

ERM

ORSA

Risk appetite

Risk taxonomy

Risk register

Key risk indicators

Solvency management

Capital adequacy

Regulatory risk

Cyber risk

Model risk

Stress testing

Scenario analysis

Reverse-stress testing

Job description

Job Snapshot

Role: Risk Manager - Enterprise Risk and ORSA

Location: Dubai, United Arab Emirates

Country: United Arab Emirates

City: Dubai

Industry: Insurance

Function: Risk Management-Compliance

Experience: 3-5 years, including at least 3 years in insurance

Job Type: Full-time

Salary: 18000-30000 Estimated salary range based on similar jobs in the job city; please confirm the final offer with the employer.

Position Overview

Risk Manager - Enterprise Risk and ORSA in Dubai, United Arab Emirates is an Insurance opportunity for an experienced risk professional with expertise in enterprise risk management, ORSA, solvency, regulatory compliance, stress testing, insurance risk, and capital oversight. Al-Futtaim is hiring a Risk Manager to support the Chief Risk Officer in maintaining an independent and effective risk management framework, monitoring material exposures, strengthening governance, and protecting policyholders, solvency, and regulatory standing.

Key Responsibilities

• Maintain the enterprise risk management framework, policies, risk taxonomy, risk register, and committee governance structure.
• Support development and maintenance of risk appetite statements, limits, and key risk indicators.
• Monitor risk exposures against approved thresholds and escalatte breaches promptly to appropriate management and governance forums.
• Provide independent risk challenge on strategy, business plans, products, pricing, underwriting, claims, reserving, reinsurance, investments, outsourcing, technology, and major projects.
• Assess material insurance, credit, market, liquidity, operational, conduct, regulatory, cyber, model, climate, concentration, and emerging risks.
• Coordinate the Own Risk and Solvency Assessment and link the risk profile with strategy, business planning, capital, solvency, and approved risk appetite.
• Conduct stress testing, scenario analysis, and reverse-stress testing to evaluate vulnerabilities under adverse conditions.
• Monitor management actions arising from stress tests and risk assessments through effective closure.
• Prepare timely reports covering risk profile, risk appetite utilization, ORSA, stress testing, material incidents, breaches, and remediation progress.
• Maintain records of risk events, losses, near misses, control failures, and associated management actions.
• Oversee root‑cause analysis and monitor corrective measures arising from significant risk events.
• Support accurate regulatory submissions and preparation for supervisory reviews.
• Monitor changes in UAE insurance regulation and translate new requirements into practical policies, controls, and implementation actions.
• Review control effectiveness and ensure accepted risks are properly authorized and documented.
• Coordinate with Compliance, Actuarial, and Internal Audit while preserving the independence of each control function.
• Maintain complete and auditable records covering risk models, assumptions, decisions, assessments, and governance approvals.
• Support board and committee reporting with concise analysis of material risks and emerging exposures.
• Help maintain compliance with applicable CBUAE insurance regulations, internal control requirements, and corporate governance expectations.

Ideal Profile

Candidates should hold a Bachelor 's Degree in Risk Management, Actuarial Science, Finance, Accounting, Insurance, or a related discipline. A postgraduate qualification or relevant professional certification will be considered an advantage. The position typically requires 3-5 years of relevant professional experience, including at least 3 years within the insurance industry. Strong understanding of UAE insurance regulation is essential, together with practical knowledge of enterprise risk management, ORSA, solvency and capital, stress testing, underwriting, reserving, reinsurance, investments, and operational resilience. Candidates should be comfortable analyzing complex risk information and presenting findings to senior management, governance committees, and regulatory stakeholders. Experience with board‑level reporting and regulatory engagement will be particularly valuable. The successful professional will demonstrate sound judgment, analytical strength, professional independence, and the confidence to challenge decisions where material risk concerns arise. Fluent business English is required, while Arabic language capability will be considered an advantage.

Skills Set

• Enterprise risk management
• ERM
• Own Risk and Solvency Assessment
• ORSA
• Risk appetite
• Risk taxonomy
• Risk register
• Key risk indicators
• Solvency management
• Capital adequacy
• Insurance risk
• Credit risk
• Market risk
• Liquidity risk
• Operational risk
• Conduct risk
• Regulatory risk
• Cyber risk
• Model risk
• Climate risk
• Concentration risk
• Emerging risk
• Stress testing
• Scenario analysis
• Reverse-stress testing
• Reinsurance risk
• Underwriting risk
• Reservings risk
• CBUAE compliance
• Board risk reporting

Why Join Us

This role offers exposure to the core risk management activities of an established insurance business operating within a highly regulated and capital-sensitive environment. Professionals with practical ORSA, solvency, enterprise risk, and regulatory experience play an important role in protecting policyholders while supporting sustainable business growth. The position provides direct involvement with senior risk leadership, governance forums, regulatory requirements, capital assessment, and cross‑functional insurance operations. It offers a strong platform for developing broader expertise in enterprise risk management, regulatory engagement, insurance governance, and future risk leadership responsibilities within a diversified regional group.

About the Company

Al‑Futtaim is a diversified privately held regional business headquartered in Dubai, United Arab Emirates. Established in the 1930s, the Group operates across automotive, financial services, real estate, retail, and healthcare, employing more than 35000 people across over 20 countries in the Middle East, Asia, and Africa. Al‑Futtaim partners with more than 200 international brands and continues to expand through customer‑focused operations, strategic investment, and long‑term regional growth.