Job Requisition ID: 180589 

Established in the 1930s as a trading business, Al-Futtaim Group today is one of the most diversified and progressive, privately held regional businesses headquartered in Dubai, United A”rab Emirates. Structured into five operating divisions; automotive, financial services, real estate, retail and healthcare; employing more than 35,000 employees across more than 20 countries in the Middle East, Asia and Africa, Al-Futtaim Group partners with over 200 of the world's most admired and innovative brands. Al-Futtaim Group’s entrepreneurship and relentless customer focus enables the organisation to continue to grow and expand; responding to the changing needs of our customers within the societies in which we operate. 

By upholding our values of respect, excellence, collaboration and integrity; Al-Futtaim Group continues to enrich the lives and aspirations of our customers each and every day.

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.

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.

About Orient Insurance PJSC

Orient Insurance Company commenced operations in 1982 as a part of the reputed Al-Futtaim Group and has since recorded a progressively steady growth. The Company is counted among the leaders in the UAE insurance market. Orient Insurance Company has a paid-up capital of AED 500 Million which is the highest in the insurance industry in UAE. With head office in Dubai, the company serves its clientele through an extensive branch network in Jebel Ali, Abu Dhabi, Al Ain, Sharjah and Ras Al Khaimah in UAE, Muscat in Sultanate of Oman, Riyadh in Kingdom of Saudi Arabia and Bahrain