Risk Manager

Confidential; Riyadh; On-site; SAR 300,000 - 540,000; Full time

Job summary

Confidential is seeking an experienced Risk Manager to join its Enterprise Risk Management team in Riyadh. You will identify, evaluate, and mitigate risks across underwriting, claims, investment, and operations, partnering with senior leadership to strengthen the risk posture.

You will develop and maintain the ERM framework, risk appetite statements, and KRIs, while ensuring regulatory compliance and robust governance across the organization.

Qualifications

• Bachelor's degree in risk-related field; master's preferred.
• 5–8+ years in risk management, actuarial science, or financial risk analysis.
• Deep understanding of balance sheets, underwriting risks, reserving, and investment risk.
• Proficiency in risk modeling, data analysis tools (Excel, SQL, Python/R), and ERM software.

Responsibilities

• Develop, implement, and maintain the ERM framework and risk appetite statements.
• Conduct regular risk assessments across all lines of business.
• Evaluate underwriting, claims, concentration, and investment risks.
• Oversee risk governance, regulatory compliance, and capital requirements.
• Prepare executive risk reports for the Board and Risk Committee.
• Maintain the Risk Register with KRIs and mitigation plans.
• Design stress testing, scenario analysis, and loss modeling for emerging risks.
• Provide risk oversight for new products and strategic partnerships.
• Promote risk-awareness through training and cross‑functional collaboration.

Skills

Analytical thinking

Communication

Collaboration

Strategic vision

Education

Bachelor's degree in Risk Management, Actuarial Science, Finance, Business Administration, or related quantitative field

Master's degree preferred

Tools

Excel

SQL

Python/R

Job description

We are seeking an experienced and analytical Risk Manager to join our Enterprise Risk Management team. In this role, you will be responsible for identifying, evaluating, assessing, and mitigating risks across our underwriting, claims, investment, and operational activities.

As a key contributor to our risk strategy, you will work closely with executive leadership and department heads to maintain a robust risk framework, ensure regulatory compliance, and foster a risk-aware culture across the organization.

Key Responsibilities

Develop, implement, and maintain the company’s Enterprise Risk Management (ERM) framework and risk appetite statements.

Conduct regular risk assessments across all business lines (Property & Casualty, Life & Health, Reinsurance, etc.).

Evaluate underwriting guidelines, claims exposures, concentration risks, and investment portfolio risks.

Risk Governance & Compliance

Oversee compliance with insurance-specific regulatory standards, risk governance guidelines, and capital requirements (e.g., ORSA, Solvency II).

Lead the preparation of executive-level risk reports and presentations for the Board of Directors, Risk Committee, and regulatory bodies.

Maintain and update the corporate Risk Register, tracking key risk indicators (KRIs) and mitigation plans.

Collaborate with actuarial and finance teams to design and execute stress testing, scenario analysis, and loss modeling for emerging risks (e.g., climate, cyber, macroeconomic shifts).

Monitor market trends, catastrophe risk exposures, and reinsurance coverage adequacy.

Operational & Strategic Support

Provide risk advice and oversight for new insurance products, strategic partnerships, and major technology implementations.

Conduct Root Cause Analysis (RCA) for operational risk events and control failures, recommending corrective actions.

Promote a culture of risk awareness by providing training and support to business units.

Qualifications & Requirements

Education: Bachelor’s degree in Risk Management, Actuarial Science, Finance, Business Administration, or a related quantitative field. Master’s degree preferred.

Experience: 5–8+ years of progressive experience in risk management, actuarial science, or financial risk analysis within the insurance or banking industry.

Technical Skills:

Deep understanding of insurance balance sheets, underwriting risks, reserving, and investment risk.

Proficiency in risk modeling, data analysis tools (Excel, SQL, Python/R), and ERM software platforms.

Analytical Thinking: Ability to synthesize complex data into actionable risk insights.

Communication: Exceptional verbal and written communication skills to explain technical risk concepts to non-technical stakeholders.

Collaboration: Strong interpersonal skills to build relationships across department silos.

Strategic Vision: Ability to align risk management activities with business strategy and growth targets.