The Risk Officer will support the Head of Risk Management-Sharq Insurance in effectively maintaining the overall adequacy and effectiveness of the risk management techniques/ processes within Sharq Insurance. He/She will assist in ensuring independent and objective identification, assessment, measurement, reporting, development of controls/mitigation plans and monitoring of such risks, including but not limited to Insurance Risk, Claims Risk, Reinsurance Risk, Credit Risk, Operational Risk, Balance Sheet and Market Risk, Group Risks etc. The incumbent will also provide necessary operational/administrative support to the Head of Risk management in the areas of Business Continuity programs, Regulatory interface, Corporate Governance and any other, as and when assigned.

Roles & Responsibilities

• Perform all activities, as assigned by the Head of Risk Management, in compliance with applicable regulations, and internal policies/procedures.
• Assist in the development and implementation of robust and uniform Risk Management framework for the organization, including processes, tools and systems, to identify, assess, measure, manage, monitor and reporting of risks.
• Ensure prompt maintenance of Sharq Insurance’s KRIs and Risk Register, with current/updated records based on risk identification exercises.
• Assist in the identification and evaluation of business areas' risks, to facilitate the development and implementation of risk mitigation strategies.
• Assist in the development of periodic Risk Management Reports to the Audit & Risk Committee and Board
• Assist the Head of Risk Management in Risk Control Self-Assessment (RCSA) process, including but not limited to identification, assessment, management and reporting of operational risks and controls across Sharq Insurance.
• Assist in the Own Risk and Solvency Assessment (ORSA) process and in development of Annual ORSA Report.

Qualification Experience & Skills Required

• University graduate.
• Minimum 5 years of related experience in general insurance, in any area like Underwriting or Reinsurance etc. Experience of working in Internal Audit is also preferred
• Risk or Internal Audit Certification will be preferred
• Excellent communication skills