Risk Manager I Dubai | Financial Services | Orient Insurance PJSC

Role Purpose

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 escalate 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.

Skills

Qualifications and Experience

• Bachelor’s degree in risk management, actuarial science, finance, accounting, insurance or a related field; relevant postgraduate or professional qualification is preferred.
• Typically 3-5 years 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.