RK – RiskEstimated Travel Percentage (%): Up to 25%Relocation Provided: NoAIG MEA LimitedJob Description
Chief Risk Officer – Middle East and Africa
Direct Reporting to:
Chief Risk Officer: International General Insurance
1. Job Purpose
The role of the MEA CRO is to maintain a robust risk management framework that is appropriate for the size, business mix and complexity of AIG businesses in MEA, is in line with AIG policies and meets regulatory expectations.
2. Minimum Qulifications/Eduction/Experience/knowledge
Qualifications and Education: CERA, Actuary, CFA or Chartered Accountant or other qualification relevant for Enterprise Risk Management
Experience: At least 10 years’ experience in Financial Services (preferably Insurance), with at least 3 years at senior management level. Experience in Risk Management (financial and operational risk) from a 2nd line of Defense perspective.
3. Job Accountabilities
- Lead the risk officers aligned to the legal entities within MEA.
- Maintain an effective risk management framework to identify, assess, manage, monitor and report all material risks that AIG MEA is exposed to.
- Adequate support of the Board of Directors and the CEO in meeting their responsibilities with respect to the protection of policyholders and the management of the risk profile of the company.
- Engagement with the regulator on a needs basis
- Responsible for the overall management and execution of the risk management strategy and activities.
- Annual updates to the Risk Appetite Statement, ORSA, Risk Management Strategy and Risk Register
- Further development and implementation of effective Risk Reporting
- Support the local risk management governance structure and facilitate the quarterly Risk and Capital Committee meetings
- Strengthen the risk culture to underpin the effectiveness of the overall risk management framework
- Risk reviews of material outsourcing, major initiatives and business development
- Maintain the Risk Event capture program and further embed in the business
- Execute the Risk and Control Self-Assessment (RCSA) annual work plan
- Timely escalation of any risk matters to management, within the ERM function and to the Board as needed.
4. Communication and Working Relationships
Internal: Senior Management and Board: Support management in meeting their responsibilities in respect to management of the risk profile of the business.
External: Regulators, Rating Agencies, Reinsurers: Provide assurance on the adequacy of the risk management control environment (financial and operational risk); support Regulatory developments around risk management and solvency.
5. Key Competencies
- Dealing with ambiguity
- Drive for results
- Ability to understand criticality and prioritise
- Managerial Courage
- Business Acumen
- Problem Solving
- Communication Skills
- Analytical Skills
- Strategic orientation
- Insurance industry knowledge
- Strong understanding of insurance financial reporting and capital management
- Investment and Insurance risk understanding
- Risk modelling/understanding of risk modelling
It has been and will continue to be the policy of American International Group, Inc., its subsidiaries and affiliates to be an Equal Opportunity Employer. We provide equal opportunity to all qualified individuals regardless of race, color, religion, age, gender, gender expression, national origin, veteran status, disability or any other legally protected categories.
At AIG, we believe that diversity and inclusion are critical to our future and our mission – creating a foundation for a creative workplace that leads to innovation, growth, and profitability. Through a wide variety of programs and initiatives, we invest in each employee, seeking to ensure that our people are not only respected as individuals, but also truly valued for their unique perspectives.