Role Summary

Responsible for managing the strategy and execution of appropriate insurance policies and coverage across QNB Group. Analyze the Group insurance policies and premiums on a periodic basis. Manage and ensure that claims are processed in a timely manner and resolve issues that arise during the renewal process. Challenge the brokers regarding premiums and commissions and actively participate in regular meetings. Oversight and approval of all Group Insurance policies to ensure consistent governance and financial performance. Liaise with key business, function, country and subsidiary teams.

Role Discription

• Build and maintain a strong and effective relationship with Insurance Company and Brokers. Negotiate all aspects regarding Insurance coverage.
• Build and maintain strong and effective relationship with the all other related departments and units, local and international, to ensure appropriate level of insurance coverage and provide guidance when and as required.
• Provide assistance to International branches when they are under review by their local regulators.
• Provide timely and accurate information to the insurance company and brokers.
• Acting as consultant and advisor for insurance aspects in QNB Group and provide applicable legislation and timely updates or any changes
• Ensure that minimum standards of control and management disciplines are in place to make sure that Group is properly covered.
• Review and provide feedback on Branch/ATM’s lease agreement when and as required
• Assist the Head of Operational Risk Framework in ad hoc insurance aspects related.
• Assist the Head of Operational Risk Framework in ensuring that operational risk events aspects are covered in Group Insurance Policy.
• Review insurance policy and procedures
• End to end management of CPC approval, invoices and claim register
• Maintain and updated list of Group Property and ATM inventory and Electronic Equipment at all times
• Manage and report insurance data
• Participate in determining the premium rates and brokerage commission fees.
• Ensure cash reserves in case of unexpected events
• In partnership with business management and/or Group Internal Audit, participate in  investigations before payments.
• Ensure effective and efficient communication between QNB Group and Insurance Company and Brokers.
• Conduct senior management survey as and when required.
• Ensure that Non disclosure Agreement and Letter of Engagement are renewed on an annual basis.
• Notify any changes in Premiums or any other relevant and sensitive information to senior management
• Providing assistance when necessary to business areas in regular meetings with Company and Brokers

Qualifications

• Bachelor degree preferably in finance, economics or related subjects.
• Master and/or professional certifications such as CCSA is preferred.
• Minimum of 8-10 years’ experience in a major International bank of which at least 4 years in the development and execution of Operational risk Frameworks
• Ideally a mix of both 1st, 2nd and 3rd line experience
• Excellent oral and written communication skills in English and Arabic (preferred).
• General knowledge of regulatory, political, reputational and environmental risk issues that would impact a complex financial services entity.
• Knowledge of Basel II Accord, with particular emphasis on operational-related issues.
• Excellent quantitative modelling, analytical, and research skills.
• Experience in working with large and complex data sets.
• Knowledge of financial markets and products.
• Proficiency in risk concepts, banking products/ operations/ systems, pertinent regulatory requirements.
• In-depth understanding of operational risk methodologies.
• Self-motivated, eye for detail.