Risk Analytics Senior Specialist

About the Role

MEDGULF Saudi Arabia is seeking a Risk Analytics Senior Specialist to join their team in Riyadh, Saudi Arabia. This full-time position requires 5-10 years of experience and focuses on monitoring and analyzing risk-based capital regulations, solvency requirements, and overall financial resilience within the insurance sector.

Key Responsibilities

• Monitor developments in Insurance Authority (IA) Risk-Based Capital (RBC) regulations, solvency requirements, supervisory guidance, and industry practices, assessing their impact on the company's risk profile and capital management framework.
• Provide independent oversight and challenge of RBC calculations, solvency assessments, capital adequacy analyses, and related assumptions prepared by Actuarial, Finance, and other relevant functions.
• Support regulatory discussions, supervisory reviews, and capital adequacy-related submissions by providing technical risk analysis and capital risk assessments.
• Monitor compliance with Board-approved capital risk appetite thresholds and regulatory solvency requirements, escalating breaches through established governance channels.
• Review, challenge, and validate methodologies, assumptions, models, and inputs used in capital adequacy, solvency, financial risk, and stress-testing exercises.
• Perform independent analysis of capital, solvency, liquidity, market, investment, credit, and concentration risk exposures to identify emerging risks and vulnerabilities.
• Ensure appropriate segregation of duties between calculation, validation, review, and approval activities, promoting robust risk governance.
• Develop, maintain, and enhance risk analytics tools, dashboards, Key Risk Indicators (KRIs), and reporting methodologies.
• Monitor the company's capital adequacy position, eligible own funds, solvency levels, and overall financial resilience.
• Assess the risk implications of underwriting strategies, reinsurance arrangements, business growth initiatives, investment decisions, and other strategic initiatives.
• Review and analyze market risk exposures, including interest rate, equity, foreign exchange, concentration, and counterparty risks.
• Independently assess liquidity risk exposures, liquidity stress scenarios, funding vulnerabilities, and liquidity adequacy metrics.
• Evaluate the impact of investment portfolio performance, asset allocation decisions, market volatility, and counterparty exposures on the company's risk profile.
• Design, coordinate, and maintain enterprise-wide stress-testing and scenario-analysis frameworks covering various risk categories.
• Conduct independent stress testing, sensitivity analysis, reverse stress testing, and forward-looking risk assessments.
• Support the development and execution of Own Risk and Solvency Assessment (ORSA) activities.
• Collaborate with various teams to incorporate operational, cyber, resilience, fraud, financial, insurance, and emerging risk scenarios into enterprise-wide risk assessment activities.
• Prepare risk analytics reports, dashboards, and management information for relevant committees and the Board.
• Provide independent risk advisory support to business, Finance, Treasury, Actuarial, Underwriting, Reinsurance, Investment, Compliance, and other functions.
• Support the continuous enhancement of the enterprise risk management framework, risk appetite framework, and capital risk governance practices.

Experience and Qualifications

Candidates should possess 5-10 years of relevant experience in risk analytics, capital management, or a related field within the insurance or financial services industry. A strong understanding of regulatory requirements and industry best practices is essential for this role.

Work Environment

This is a full-time position based in Riyadh, Saudi Arabia, within MEDGULF Saudi Arabia. The role involves collaboration with various internal departments and external stakeholders.

Application Process

Further details regarding the application process will be provided upon inquiry. The salary for this position is not disclosed.