Risk Manager I at Al-Futtaim in Dubai

Company: Al Futtaim Private Company LLC

Location: Dubai, UAE

Job Type: Full Time

Experience: 3-5 Years

Job Overview

As a Risk Manager I at Orient Insurance PJSC, you will play a pivotal role in supporting the Chief Risk Officer (CRO) by ensuring the effectiveness of the enterprise risk management function. Your responsibilities will include identifying, assessing, and monitoring various risks while ensuring compliance with UAE insurance regulations. This position is crucial for safeguarding policyholders and maintaining the company’s solvency and regulatory compliance.

In this dynamic role, you will be integral to promoting a sound risk culture within the organization. You will be expected to provide independent assessments and challenges across various business functions, ensuring that the company remains resilient in the face of potential risks.

Key Responsibilities

• Develop and maintain the enterprise risk management framework, including policies, risk taxonomy, and governance structures.
• Assist in establishing risk appetite, limits, and key risk indicators while monitoring exposures and escalating breaches as necessary.
• Provide independent evaluations of strategies, business plans, products, pricing, underwriting, claims, and major projects.
• Identify and assess all material risks, including insurance, credit, market, operational, regulatory, and emerging risks.
• Coordinate the Own Risk and Solvency Assessment (ORSA) process, linking risk profiles with business strategies and capital requirements.
• Conduct stress testing and scenario analyses, reporting vulnerabilities and tracking management’s responses.
• Generate timely reports on risk profiles, appetite utilization, ORSA findings, and any material events or breaches.
• Maintain detailed records of risk events, losses, and control failures, overseeing root-cause analyses and action closures.
• Ensure accurate regulatory submissions and facilitate supervisory reviews.
• Stay updated on regulatory developments, translating them into actionable policies and controls.
• Review the effectiveness of controls and ensure proper documentation of risk acceptance.
• Collaborate with Compliance, Actuarial, and Internal Audit teams while maintaining independence across functions.
• Maintain comprehensive and auditable records of risk models, assumptions, and decisions.

Qualifications & Requirements

• A Bachelor’s degree in risk management, actuarial science, finance, accounting, insurance, or a related field; a relevant postgraduate or professional qualification is preferred.
• 3-5 years of relevant experience, with a minimum of 3 years in the insurance industry.
• Strong understanding of UAE insurance regulations, enterprise risk management, ORSA, and capital requirements.
• Experience in board-level reporting and regulatory engagement, demonstrating strong analytical and communication skills.
• Fluent in business English; proficiency in Arabic is an advantage.
• Demonstrated professional judgment and courage in decision-making.

About Orient Insurance PJSC

Orient Insurance PJSC, part of the esteemed Al-Futtaim Group, has been a key player in the UAE insurance market since its inception in 1982. The company has consistently demonstrated steady growth and is recognized as one of the leaders in the industry. With a paid-up capital of AED 500 million, the highest in the UAE insurance sector, Orient Insurance operates from its headquarters in Dubai, serving clients through a comprehensive branch network across the UAE and beyond.

How to Apply

Candidates interested in the Risk Manager I position should apply through the official Al-Futtaim careers platform. Link is given in Apply For Job button on this page.