Head of Risk
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Key skills for this role
About the Role
Transguard Workforce Solutions is recruiting a Head of Risk for an insurance company in Abu Dhabi. The role involves establishing the enterprise risk management framework, ensuring CBUAE compliance, and overseeing risk governance.
Key Skills for This Role
Responsibilities
- Develop, implement, and continuously enhance the enterprise risk management framework in line with CBUAE requirements
- Conduct comprehensive risk assessments across underwriting, claims, market, and investment portfolios
- Maintain and monitor the corporate risk register, ensuring timely reporting of key risks to senior management
- Ensure full compliance with all applicable regulatory and legal requirements
- Analyze policies and portfolios to assess risk exposure, pricing adequacy, and profitability
- Manage capital adequacy and overall risk exposure in line with regulatory expectations
- Apply advanced risk modelling tools for data driven decision making
- Oversee claims management and reserving processes to ensure accuracy and efficiency
- Identify and mitigate cybersecurity and data protection risks
- Design and implement reinsurance strategies to minimize large or catastrophic losses
- Collaborate with internal stakeholders to promote loss prevention and risk reduction initiatives
- Oversee third party and vendor risk management frameworks
Requirements
- Bachelor's degree in Law, Finance, Business Administration, or related field
- Minimum 10+ years of experience in risk, compliance, or legal roles
- Proven experience in the insurance industry, preferably within the UAE
- Strong understanding of CBUAE regulations and local market dynamics
- Effective communication skills in both Arabic and English
- Relevant professional certifications such as CAMS, CCEP, ICA, CRCM are highly desirable
Full Job Posting
Job Purpose
- The Head of Risk is responsible for establishing, implementing, and overseeing the organization’s enterprise risk management framework.
- The role ensures compliance with UAE Central Bank (CBUAE) regulations, strengthens risk governance, and supports sustainable business growth through effective risk identification, assessment, and mitigation strategies.
Key Responsibilities
- Develop, implement, and continuously enhance the enterprise risk management framework in line with CBUAE requirements.
- Conduct comprehensive risk assessments across underwriting, claims, market, and investment portfolios.
- Maintain and monitor the corporate risk register, ensuring timely reporting of key risks to senior management.
- Ensure full compliance with all applicable regulatory and legal requirements.
- Analyze policies and portfolios to assess risk exposure, pricing adequacy, and profitability.
- Manage capital adequacy and overall risk exposure in line with regulatory expectations.
- Apply advanced risk modelling tools for data driven decision making.
- Oversee claims management and reserving processes to ensure accuracy and efficiency.
- Identify and mitigate cybersecurity and data protection risks.
- Design and implement reinsurance strategies to minimize large or catastrophic losses.
- Collaborate with internal stakeholders to promote loss prevention and risk reduction initiatives.
- Oversee third party and vendor risk management frameworks.
Key Requirements
- Bachelor’s degree in Law, Finance, Business Administration, or a related field (Master’s degree preferred).
- Relevant professional certifications such as CAMS, CCEP, ICA, CRCM are highly desirable.
- Minimum 10+ years of experience in risk, compliance, or legal roles.
- Proven experience in the insurance industry, preferably within the UAE.
- Strong understanding of CBUAE regulations and local market dynamics.
- Effective communication skills in both Arabic and English.
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