Risk Manager at AIG

Dubai, Dubai, United Arab Emirates

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Not SpecifiedCompensation

Mid-level (3 to 4 years), Senior (5 to 8 years)Experience Level

Full TimeJob Type

UnknownVisa

InsuranceIndustries

Requirements

Bachelor's Degree in Finance, Economics, Risk Management, Actuarial, Business or a related discipline
Certification in Insurance, Risk Management, or Financial Management preferred
Practical experience in insurance or insurance-related risk environment with exposure to risk management and internal controls
Experience in risk management in an insurance company
Knowledge of risk management practices and applicable regulatory requirements in the UAE
Key competencies: Dealing with ambiguity, Drive for results, Ability to understand criticality and priorities, 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

Responsibilities

Support the CRO in maintaining an effective risk management framework to identify, assess, manage, monitor and report all material risks that AIG entities in GCC NA are exposed to
Ensure alignment of risk management framework with regulatory requirements applicable to the AIG entities in the GCC NA cluster and support with regulatory risk reporting including ORSA
Play an active role in strengthening the risk culture to underpin the effectiveness of the overall risk management framework
Perform annual updates to the Risk Appetite Statement, Risk Management Strategy and Risk Register
Support the local risk management governance structure and facilitate the quarterly Risk and Capital Committee meetings
Collaborate with internal stakeholders to assess and enhance the effectiveness of internal controls and governance structures
Utilize risk analysis tools and models to evaluate the potential impact of various risk scenarios
Support in the execution of Risk and Control Self-Assessment (RCSA), deep dives and other assessments as per the annual work plan
Support senior management in meeting their responsibilities in respect to management of the risk profile of the business
Work closely with EMEA ERM team and risk specialists on deliverables and cross-border initiatives
Provide assurance to regulators, rating agencies, and reinsurers on the adequacy of the risk management control environment (financial and operational risk); support regulatory developments around risk management and solvency

Skills

Risk Management

Internal Controls

RCSA

ORSA

Risk Appetite Statement

Risk Register

Regulatory Reporting

Insurance Risk

Risk Analysis Tools

Risk Models

Governance

AIG

Global insurance provider for individuals and businesses

About AIG

AIG provides a variety of insurance products and services aimed at individuals, families, and businesses. Their offerings include life insurance, retirement planning, and commercial insurance, which help clients manage risk and protect their assets. AIG operates by underwriting insurance policies and managing risk, while also investing the premiums collected to generate income. This company stands out from competitors by not only focusing on traditional insurance but also emphasizing cybersecurity and data protection to keep clients' information safe. AIG's goal is to help clients achieve financial security and peace of mind through comprehensive insurance solutions.

New York City, New YorkHeadquarters

1919Year Founded

IPOCompany Stage

Cybersecurity, Financial ServicesIndustries

10,001+Employees

Benefits

Health, dental, & vision coverage

Flexible Spending Accounts (FSA)

401(k)

PTO

Commuter Expense Reimbursement Account

Risks

Sale of personal travel business may reduce AIG's market presence in travel insurance.

Expansion in Atlanta could pose financial risks if expected growth does not materialize.

Deconsolidation of Corebridge Financial might lead to loss of synergies and increased costs.

Differentiation

AIG offers a wide range of insurance products globally, serving diverse client needs.

Corebridge Financial, a subsidiary, enhances AIG's offerings in retirement planning and financial futures.

AIG emphasizes cybersecurity and data protection, ensuring clients' information remains secure.

Upsides

AI adoption in underwriting and claims processing enhances efficiency and reduces costs for AIG.

InsurTech partnerships offer AIG opportunities to enhance digital capabilities and drive innovation.

Telematics and usage-based insurance allow AIG to offer personalized and flexible products.

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