Job Details

Description

Senior Financial Specialist (Financial Expert)

Overview

Financial Expert with at least 8 years\xe2\x80\x99 experience in insurance and risk management, with strong knowledge of IFRS. (e.g., IFRS 9, IFRS 17) (ACCA, CPA, CMA, or CFA) will be treated as an advantage. Sound knowledge of accounting/risk/insurance regulatory environment (and Solvency II risk-based capital regime would be an advantage). Specialist knowledge will include finance, insurance risks (underwriting, reserving and catastrophe risk), market risk and operational risk, based upon a good understanding of the UAE insurance industry practices and processes.

Qualifications

1) Accounting, Finance, Risk and/or Actuarial qualification.

2) Fully qualified member/Fellow of recognized International Accounting or Risk Association (e.g., AICPA, CFA, ACCA, Risk Management Institute).

Education level

Minimum of University Degree

Experience

1) Financial services experience in the insurance field, either in a regulator or working for one or more financial firms, auditors or consultancies

2) Demonstrate technical expertise in accounting/finance/risk, actuarial and risk management. This work has a high technical content, reflecting the complexity and sophistication of the insurance products, distribution, accounting and risk exposures. As each firm and the business that it writes may be unique, there is a high degree of judgement required in arrived at a view as to the adequacy or otherwise of the work presented by firms. This may be based upon the output of complex models or a detailed process involving many stages of analysis and judgements, drawing on diverse, often incomplete, sources of data.

3) Specialist knowledge will include accounting, finance, enterprise risk management, insurance risk (underwriting, reserving and catastrophe risk), market risk and operational risk, based upon a good understanding of the insurance industry practices and processes.

4) In order to be able to form a view on the work in the market, it is needed to demonstrate a full understanding of the insurance company business model: the make-up and evolution of its balance sheet; capital and cash generation; its vulnerabilities and exposure to risk.

5) Demonstrate a high level of knowledge of trends and practices within the accounting/risk, supported by knowledge of current economic conditions and the threats that these might pose to the insurance businesses/industry

Specific/Desirable skills

1) Expected to operate at a high technical standard

2) Experience of working in, or with key stakeholders

3) Sound knowledge of the accounting/risk/insurance regulatory environment.

4) Experience of working as, or with, members of the accounting/financial profession and understanding of the professional standards required

5) Experience of international standards IFRS and mainly (IFRS 9, IFRS 17) & Enterprise Risk Management (ERM) as they relate to insurance.

6) Ability to explain complex technical issues in a simple and accessible manner, using a combination of written, spoken and numerically based communication approaches.

Personal characteristics

1) Interpersonal, influencing and negotiation skills

2) Recognized accountant/risk professional and well-respected by peers

Certifications

Qualified finance/risk professional, with at least 8 years of relevant experience

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