Senior Manager - Risk

Job description / Role

- Ensure delivery of effective, proficient and efficient risk-based supervision of financial services institutions, as a relationship manager for a portfolio of insurance industry market participants. The portfolio might also include firms operating in other categories such as banking, investment banking, asset management and securities business. This will include:

- Plan and execute a programme for continuous, ongoing monitoring and risk assessment of firms in the assigned portfolio;
- Maintaining a strong knowledge base of life and general insurance business;
- Monitor market developments and issues relevant to reinsurance and captives; analysis of financial returns; planning and conducting on-site visits;
planning and conducting desk-top reviews and thematic reviews; examining strategy, systems and controls; producing risk assessment reports and programmes for mitigating risk; liaison with a range of external stakeholders, particularly with home state regulatory authorities.
- Constantly looking to contribute to the development of effective and efficient supervisory processes and carry out responsibilities in line with policies, procedures and processes.
- Provide advisory assistance on new applications for authorisation, with a focus on the technical aspects of insurance business and operations. Participate in ad hoc projects within the department and other areas of the company.
- Keeping abreast of insurance industry and regulatory developments.
- Develop subject matter expertise in a specific area of prudential risk, preferably in underwriting, or reserving risk management. Contribute skills and expertise in the relevant domain to achieve better risk assessment and assist fellow supervisors in their work.
- Contribute to an internal development programme for UAE Nationals.

Requirements

- It is a must that you have at least 5-7 years experience in regulation, audit, financial risk or risk management, primarily with an insurance background, preferably from a regulatory authority or in a compliance role within the industry.
- Skills and experience in accounting/audit and financial analysis of insurance firms and other financial services firms is a key element of experience required for this position.
- Preferably experience of dealing with IAIS regulatory standards and policy analysis, development and interpretation.
- In-depth knowledge of the insurance industry and its unique characteristics.
- Excellent working knowledge of financial regulation, prudential risk, financial analysis and risk management for insurers and other financial services firms.
Working knowledge of IAIS regulatory standards, in addition to an understanding of other key standard setters.
- A Bachelors degree in a relevant field like finance, accounting or commerce would be desirable.
- Professional qualification in accounting, audit or any other relevant field would be considered positively.
- Continuing professional education relative to the position such as CFA, FRM etc. would also be considered positively
- Highly motivated self-starter.
- Professional, diplomatic and ethical attitude.
- Excellent communication skills (both written and oral).
- Excellent research, communication (written and oral) and analytical skills.
- Strong team player with ability to contribute across a large team, while being able to work independently and efficiently.
- Ability to work through complex and sensitive issues without the need for close supervision.
- Effective relationship management skills for developing strong relationships with key internal and external stakeholders.
- Strong analytical focus and ability to provide support to the team.
- Expert level knowledge and expertise in insurance or a specific risk category like underwriting risk would be highly valued.
- Co-operative working style.
- Willingness to learn to stay informed with current regulatory developments both in the DIFC and internationally.

About the Company

Mackenzie Jones Middle East has decades of recruitment expertise in various industry sectors. Along with a deep understanding of key market sectors and regions, we never forget to treat clients, companies and candidates as individuals who have unique needs.

So we always listen, constantly learn, occasionally challenge and frequently advise. Its all part of a service renowned for its courtesy, consideration and dedication. Based in Dubai since 2006, our office covers the GCC and Levant countries and with the right regional expertise, we are the leading specialists.

Were growing rapidly because people appreciate our honesty, commitment and results.