ERM & Insurance Lead

OVERVIEW

Position

Risk Management & Insurance Lead

Job Code

Reports to

GRC ERM Manager

Direct Reports

N/A

Department / Sector / Region

Governance Risk Compliance - Oxagon

Division

GRC

Role Purpose

Responsible for identifying, assessing, managing, and mitigating risks across the organization while ensuring comprehensive insurance coverage.

KEY ACCOUNTABILITIES & ACTIVITIES

Planning, Strategy, Implementation

Risk Management

Work with the GRC Manager and the Departments to

• Conduct risk to identify potential risks that could impact the organization. Develop Risk profiles and prioritize risks based on their potential impact and likelihood
• Monitor the effectiveness of risk mitigation efforts and control measures. Independently reviews and challenges the effectiveness of controls
• Prepare risk reports for Management and Board
• Maintain documentation of risk management activities e.g.  risk registers, Risk Indicators, Open Risks, Remediation plans
• Support Risk Owners in embedding Risk Management into core business processes and decision making
  • Promote a risk-aware culture within the organization through training and awareness programs.
  • Provide guidance and support to departments in developing their risk management practices.

Insurance

Works with the GRC Manager to

• Support the assessment of risks and contract deviations from the insurance perspective on major contracts
• Align Insurance placement to Oxagon’s strategic risks to identify gaps in coverage
• Advise on general Insurance matters

• Maintain Registry of Policies and Expiration
• Ensure compliance with all relevant insurance regulations and industry standards.
• Stay updated on changes in insurance laws and regulations that may impact the organization.

Relationship Management

• Collaborate with departments to build strong risk – aware organization
• Work with stakeholders to develop and implement risk management strategies  
• Support audit and assurance programs from NEOM and other external parties when necessary
• Provide guidance and training to staff on Risk Management and Insurance related matters.

BACKGROUND, SKILLS & QUALIFICATIONS

Knowledge, Skills and Experience

Education and Experience

• Bachelor’s degree in risk management, Finance, Business Administration, or a related field.
• Professional certification in risk management (e.g., CRMA, FRM) or insurance (e.g., CPCU) will be an advantage.
• Minimum of 5 years of experience in enterprise risk management and insurance management, preferably in a similar industry.

Skills and Competencies

• Good understanding of risk management principles and practices.

Knowledge of various types of insurance policies and coverage.

• Good analytical and problem-solving skills.
• Good negotiation and communication skills.
• Ability to work collaboratively with cross-functional teams.
• Proficiency in risk management software and tools.
• Attention to detail and ability to manage multiple tasks and projects simultaneously

Qualifications

• Bachelor’s degree in risk management, Finance, Business Administration, or a related fi