Risk Operations

Job Description

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.

Accountabilities:
‎1- 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.
‎2- 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 lifecycle
‎3- 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 timeframe and financial impact of the new risk, including the establishment of criteria for grading emerging risks.
‎4- 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.
‎5- 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.
‎6- 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

• Good in statistical analysis and synthesis of data


• Strong critical thinking and problem-solving skills


• Ability to conduct research, collect and analyze data and prepare written and oral reports


• Ability to analyze, classify and rate risks, exposure, and loss expectancies


• Ability to interpret, analyze and present information from various regulatory agencies in an appropriate form geared towards targeted audience


• 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

Education

Finance, Accounting, Business, Engineering