Saudi Arabia
MANAGER - OPERATIONAL RISK
Industry:
Insurance
Career level:
Manager
Employment type:
Full time
Job location:
Jeddah, Jeddah
Salary offered
15 001 to 30 000 SAR
Requirements
Education:
Bachelor's Degree
Experience:
5-10 years
Languages:
Arabic
Driving license:
No
Job role
Role Purpose:
To facilitate the risk assessment (identification, measurement and prioritization) process on a regular basis while documenting and maintaining the results of risk management activities to put in place action plans to mitigate risks.
Bupa Arabia Risk Management Framework
Oversee, review and maintain the Risk Management Framework, through the development of sufficient infrastructure to identify, measure, manage and report risks.
Coordinate and align with Bupa Group Enterprise Risk Team to continuously improve the Bupa Arabia Risk Management Framework.
Work with the management of Bupa Arabia in developing acceptable tolerance levels and escalation criteria for identified risks.
Conduct risk workshops with selected senior management (to establish and refresh base-line risk register) and ensure time alignment with strategic/business planning activities.
Conduct awareness programs of risk management practices and processes.
Continuously update management on key risk issues, mitigation actions and the status of risk management process within Bupa Arabia.
Promote and sponsor the identification of Risk Champions – within different Divisions/Departments – to act as the conduit of risk communication both disseminating information and providing it.
Risk Life Cycle Management
Perform and/or support in identifying risks that may impact Bupa Arabia’s ability to achieve objectives, or daily activities in a manner consistent with legal, regulatory and customer expectations.
Coach and advise the 1st LoD being responsible for identifying risk identified as part of strategic planning, risks from day-to-day business activities, risks due to external events.
Ensure all identified risks are aligned to Bupa Arabia Risk Categorization Model.
Advise, support and challenge the 1st LoD to ensure that the risk is managed appropriately.
Ensure treatment strategy being identified and implemented identifies a risk as being outside target, and such strategy being considered in light of the cost/benefit of implementing the strategy (i.e. Accept, Transfer, Treat or Avoid).
Validate the approval of the mitigation strategy via a defined local approval process.
Ensure that the frequency and intensity of the monitoring should be risk based and proportionate to the likelihood and impact of the inherent and residual risk
Promote and support the existence of an on-going programme to continually monitor the risk profile.
Regular reporting to key stakeholders: i.e. On at least quarterly basis “key risk information” to Bupa Arabia level committees.
Manage an effective internal risk reporting to facilitate decision making and provide key stakeholders with information about the effectiveness of the risk management life cycle
Emerging Risk Identification & Reporting
Adopt a structured way to scan and monitor emerging risks to ensure Bupa Arabia have a view of new risks or opportunities.
Capture sufficient information to standardize the assessment of time frame and financial impact of the new risk, including the establishment of criteria for grading emerging risks.
Critical Incident Management
Ensure that Bupa Arabia businesses are prepared to respond to and manage the outcomes of Incidents.
Sponsor the implementation of a Local Incident Management Framework, in alignment with Bupa Arabia Incident Severity Scale to ensure consistency.
Challenge the classification/severity of the incident, ensuring that related escalation routes are followed, specifically for those incidents classified as “Critical” Incidents.
Stress & Scenario Testing approach
Facilitate the identification of scenarios that could adversely impact Bupa Arabia and assess its ability to withstand them.
Ensure that Stress and Scenario Testing (SST) impacts are quantified and fed into the ORSA.
Ensure that SST outputs underpin the projection of stressed financial results in the ORSA, helping the Board to understand Bupa Arabia’s ability to withstand adverse conditions.
Special/Technical Risk Management Framework(s)
Coordinate the design and sponsor the adoption of a common Framework.
Administer the development of Bupa Arabia system and tools as necessary to support the development of Special/Technical Risk Management Frameworks.
Skills
Skilled Required
Master in Science or MBA are desirable
Good in statistical analysis and synthesis of data
Strong critical thinking and problem solving skills
Ability to conduct research, collect and analyse data and prepare written and oral reports
Ability to analyse, classify and rate risks, exposure and loss expediencies
Ability to interpret, analyse and present information from various regulatory agencies in an appropriate form geared towards targeted audience
Other Requirements
Bachelor’s Degree or higher in ITEC, Finance, Accounting, or Business/Engineer school
Certification in Control Self-Assessment (CCSA) is an advantage
Certificates of Risk Management (CRM) preferred, Safety and an Associate Risk Manager (ARM) preferred.
Professional Certificate(s) in insurance is preferred
Knowledge of principles and practices of risk management
Knowledge of claims processing techniques and budgetary practices and controls
At least 2 years of control-related business experience, such as CSA, auditing, quality assurance, risk management, or environmental
Benefits
Medical insurance
Company background
بوبا العربية شركة خاضعة لإشراف ورقابة مؤسسة النقد العربي السعودي
تأسسنا كشراكة ائتلاف بين مجموعة بوبا العالمية ومجموعة ناظر عام 1997 وعملنا بجد حتى وصلنا لما نحن عليه اليوم، كأحد الشركات الرائدة في مجال التأمين الصحي في المملكة العربية السعودية بخبرة عالمية وانتشار واسع في 190 دولة حول العالم. نقدم خدمات صحية متميزة عبر برنامج طبتم، وتجربة استثنائية في المستشفيات مع برنامج راحتكم، لضمان حياة أطول، وأفضل صحة وأكثر سعادة لأعضائنا.
We were founded in 1997, we started as a joint venture, between Bupa and Nazer Group, and worked our way up the ladder to where we are now; being one of the leading healthcare insurance company in Saudi Arabia with global expertise and reach in 190 countries around the world. We provide unmatched life-touching Healthcare Services with Tebtom Program and exceptional experience at Hospitals with the Rahatkom Program to ensure longer, healthier and happier lives for our members.
