Head of Risk Management

Role overview :

Responsibilities :

• Facilitate risk identification through
  • (i) regular risk forums with participation by all relevant business units and
  • (ii) Establish and maintain risk registers for KSA as required.
• Undertake ad hoc risk reports as and when required by the business. This includes identifying and recommending to the business the need for risk reports as and when the need arises.
• Monitor key risk exposures thresholds and limits escalating to the appropriate level within Cigna as required.
• Risk Data Collection & Analysis: Gather validate and analyse risk-related data for reporting and decision-making.
• Policy Development & Implementation: Support policy-related tasks and assist in the rollout of risk policies and procedures.
• Risk Reporting: Ensure adherence to regulatory and regional requirements by preparing accurate and timely reports.
• Solutions & Gap Analysis: Perform risk assessments and required and assess compliance with established standards identify gaps and recommend improvements.
• Internal Communication: Effectively use internal platforms to access consolidate and share risk-related information.

General:

• Act in accordance with all applicable regulatory requirements.
• Ongoing compliance with all fitness and propriety obligations as well as applicable certification regimes.
• Ensure areas for which this role has responsibility are adequately monitored and controlled.
• Ensure that where responsibilities are delegated the following safeguards are in place:
  • Delegates are capable of taking on delegated activities;
  • Delegates are informed of the extent and limits of delegated responsibilities ensuring this has been appropriately documented;
  • Supervise and monitor delegates maintaining a suitable level of understanding of the activity delegated.
• Be open and transparent with all relevant governance committees ensuring they are adequately apprised of all significant matters about which they should be made aware.
• Accountable for the management of risks inherent in the functional area of responsibility and for implementing risk management systems and controls that provide a suitable operational environment to support the delivery of strategic objectives.
• To ensure the principle of Treating Customers Fairly and related customer outcomes are embedded within the business and adhered to by those in their own functional area of responsibility.

Business Continuity Management and Resilience

• In coordination with the international BCM function and regional CRO develop and implement a BCM strategy and implement an effective BCM system for KSA.
• Support and assist with Business Continuity Plans and Disaster Recovery Plans as required by the business.
• Contribute to the crisis management efforts if an unexpected event significantly affects operations or financial results.

Fraud Risk Management

• In coordination with the Regional Compliance Function. Implement fraud risk indicators and monitor suspicious activities.

• Identify advise and report fraud risks across operations and evaluate external fraud threats.

Qualifications and Skills:

• Strong and proven business background with a good understanding of operational processes.
• At least 5 years of experience in Risk Management with a minimum of 2 years of experience in insurance.
• Certifications in Risk Management are required.
• Knowledge of KSAs Insurance Authority regulatory and reporting requirements
• English speaker with high proficiency in both written/ verbal English.
• Proven ability to drive projects
• Strong business acumen and presentation skills

What we offer :

• - Hybrid mode
• - International exposure
• - working in a great place ( recently Cigna KSA recognized as a great place to work )
• Flexibly in working hours

About The Cigna Group

Qualified applicants will be considered without regard to race color age disability sex childbirth (including pregnancy) or related medical conditions including but not limited to lactation sexual orientation gender identity or expression veteran or military status religion national origin ancestry marital or familial status genetic information status with regard to public assistance citizenship status or any other characteristic protected by applicable equal employment opportunity laws.

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