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Senior Risk Analyst

2.00 to 8.00 Years   Khobar, Saudi Arabia   28 Nov, 2023
Walaa Cooperative Insurance Company
1 Jobs Openings
Job LocationKhobar, Saudi Arabia
EducationNot Mentioned
SalaryNot Mentioned
IndustryInsurance & TPA
Functional AreaNot Mentioned

Job Description

Job PurposeResponsible for the identification and assessment of potential risks, assisting in the development of risk management strategies, and providing recommendations to mitigate the risks which the company may be exposed to,The role holder is expected to closely monitor the risks and the overall control environment, prepare governance reports, and enhance risk management awareness across Walaa, The role plays a critical part in protecting the assets, reputation, and long-term sustainability of the organization.Task & Responsibilities

  • Identify and assess risks across different businesses and functions.
  • Evaluate the probability and potential impact of identified risks, considering qualitative and quantitative factors. Use risk assessment methodologies and tools to prioritize risks.
  • Develop and implement risk management strategies and controls to minimize and eliminate identified risks. This involves designing policies, procedures, and guidelines.
  • Analyze data sets, financial information, and market trends to identify patterns, correlations, and emerging risks.
  • Provide guidance on regulatory requirements and changes and assist in implementing necessary adjustments.
  • Prepare comprehensive risk reports and presentations to senior management and other stakeholders. Clearly communicate risk assessments, findings, and recommendations, and provide insights on potential impact to support strategic decision-making.
  • Foster a risk-aware culture within the company by promoting risk awareness and educations initiatives. Conduct training sessions and workshops to enhance risk management capabilities across.
  • Develop and implement incident response plans, and coordinate with relevant teams to ensure timely and appropriate actions are taken to minimize the impact of risk-events and prevent future occurrences.
  • Continuously review and enhance risk management processes, methodologies, and frameworks to adapt to changing risk landscapes. Stay updated on industry best practices and emerging risk management trends.
  • Collaborate with internal stakeholders to gather relevant information, align risk management practices, and ensure a coordinated approach to risk management.
  • Undertake tasks and responsibilities as assigned by the Senior Risk Manager.

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