Enterprise Risk Manager (UAEN)

Overview

1: Risk Identification and Assessment

• Identify Risks: Proactively identify potential risks that could impact the groups objectives, operations, or assets. This involves analysing internal processes, external market conditions, and industry trends to foresee and mitigate potential risks to the business and its subsidiaries and associates.
• OPCO Risk Management: Engage with business subsidiaries and joint ventures to review, refresh and update the risk registers and ensure their completeness such that all major exposures are identified, analysed, documented and qualified and/or quantified.
• Risk Assessment: Evaluate the probability and potential impact of identified risks. Prioritize risks based on their severity and likelihood of occurrence, guiding where mitigation efforts should be focused.
• Investment appraisal: Support in the decision-making process by incorporating risk awareness and management into the evaluation of investment decisions

2: Risk Mitigation and Strategy Development

• Develop Risk Management Strategies: Collaborate with senior management and senior stakeholders to develop and implement risk management strategies aligned with the group’s goals and risk tolerance, providing strategic support to key investment entities.
• Mitigation Planning: Formulate plans and initiatives to mitigate identified risks effectively. This may include implementing controls, procedures, or operational changes to reduce the likelihood or impact of risks. Achieving the buy-in and adoption of mitigation practices and policies of joint venture partners and critical stakeholders.

3: Insurance Portfolio Management

• Insurance Coverage Assessment: Evaluate insurance policies and risk coverage across the TAQA Generation portfolio entities to ensure that the assets are adequately covered for applicable and insurable risks. This includes benchmarking policy terms and conditions across the portfolio.
• Support the portfolio entities in obtaining and maintaining suitable coverage as well as optimizing existing terms as well as identify programs and synergies to optimize terms at a group level
• Claims Management: Oversee the process of managing insurance claims across the portfolio providing strategic support, as necessary to achieve optimum outcomes.
• Lead insurance workstreams of new projects, providing support in designing, developing and implementing suitable insurance coverage for projects through their construction and operational period.

4: Compliance and Reporting

• Regulatory Compliance: Stay updated on relevant laws, regulations, and industry standards related to risk management and insurance. Ensure that the organization and its group companies comply with such requirements.
• Reporting: Prepare and present comprehensive risk management reports to senior management and key stakeholders as applicable. These reports would include risk assessments, mitigation strategies, insurance coverage status and continual recommendations for improvement in line with the organizations drive for innovation.

5: Training and Awareness

• Promote Risk Awareness: Foster a risk-aware culture within the organization by promoting the understanding of risks, encouraging proactive risk identification, and reinforcing the importance of risk management initiatives

Minimum Qualification

• Bachelor's degree in risk management, finance, business administration, or a related field
• Professional certifications such as Certified Enterprise Risk Manager (CERM), ISO 31000 Enterprise Risk Management or similar, may be preferred
• Strong understanding of insurance principles and practices

Minimum Experience

• 8+ years of relevant experience in risk management / insurance
• Proven experience in managing insurance portfolios, including policy assessment, claims management, and negotiation