Chief Risk Officer RAKBANK UAE

RAKBANK is presently accepting applications from suitable candidate for the job role of Chief Risk Officer. This vacancy was announced by the hotel on December 17, 2023. Candidates desirous for this role should submit their resume to begin with the application process.

Responsibilities of Chief Risk Officer

• Managing the risk function in line with RAKINSURANCE Enterprise Risk Management (ERM) framework.
• Defining the Risk Appetite in consultation with RAKNIC and Group senior management and RAKNIC Board.
• Monitoring and reporting KRIs and appetite compliance periodically to all stakeholders including RAKNIC Board and RAKNIC and Group senior management.
• Ensuring early identification and mitigation of risk issues and facilitating business growth in a controlled manner.
• Ability to develop the risk register and implement operational risk and business continuity requirements.
• Capability to work closely with all group risk functions including IT Risk, Market risk and Operational risk etc.
• Experience in ensuring compliance with all aspects of Risk Management and Internal Controls Regulations issued by the UAE Central Bank.
• Experience in providing strategic guidance and advice to the senior management team and the Board of Directors on risk-related matters, including emerging risks, risk trends, and risk mitigation strategies.
• Ability to stay updated with industry trends, regulatory changes, and best practices in risk management, and provide recommendations for enhancements to the company’s risk management framework and policies.
• Ability to foster a culture of risk awareness and accountability throughout the organization, through training, communication, and regular engagement with employees at all levels.

Requirements of Chief Risk Officer

The requirements of Chief Risk Officer are as under:

• Bachelor’s degree or equivalent, preferably with a Degree in Risk Management.
• Minimum 10-15 years of experience working as a Risk Manager in an Insurance firm.

Skills and Knowledge Desired

• Risk Management qualification (i.e. IRM, RIM) is desirable.
• Must have knowledge in Solvency II.
• Strong understanding of insurance operations, regulations, and risk management principles and practices.
• Strong leadership and management skills, with the ability to lead and inspire a team of risk management professionals.
• Prior experience in a corporate governance function, compliance and working with Regulators is essential.

Mortgage Advisor RAKBANK UAE