Senior Manager - Operational and Regulatory Risk Controls

Job Description

Who we are

GIG Group reported consolidated assets of US$ 3.83 billion and $69 million net profit for the year 2023. The majority shareholder of GIG Group is Toronto based Fairfax Financial Holding, a global leader in insurance and reinsurance with a presence in 40 markets.

GIG Gulf also owns a 50% stake in GIG Saudi. Our strategic objectives and guiding principles are focused on Regional Growth, Customer Experience and Digital Transformation.

We are obsessed with customer feedback and continuously evolving to become the region's digital insurer of reference, committed to running our operations in a responsible, sustainable way.

Job purpose:

Lead the Regulatory Affairs, Governance, Compliance, Operational Risk, Audit, and Business Continuity functions across regional Healthcare and Employee Benefits businesses, providing strategic leadership and oversight of the regulatory framework, governance environment, risk management architecture, and control landscape.

Act as the principal advisor to senior management on regulatory developments, emerging regulatory and operational risks, governance matters, business implications, and regulatory strategy, ensuring the organization maintains full compliance with applicable laws, regulations, supervisory requirements, and industry standards across multiple jurisdictions.

The role holds end-to-end accountability for the development, implementation, governance, and continuous enhancement of all regulatory, operational, and business processes, frameworks, controls, and documentation relating to the Healthcare and Employee Benefits segments.

This includes ownership of regulatory engagement, compliance oversight, governance frameworks, product and operational approvals, risk management, audits, business continuity, and regulatory reporting activities.

As a senior leadership position, the role operates with a high degree of autonomy and independent decision-making authority, driving regulatory strategy, governance excellence, operational resilience, and control effectiveness while supporting the achievement of the business's strategic objectives, sustainable growth, and regulatory obligations.

Key Responsibilities:

• Lead the regional Regulatory Affairs, Governance, Compliance, Operational Risk, and Business Continuity functions across Healthcare and Employee Benefits businesses, ensuring alignment with regulatory requirements, corporate strategy, and risk appetite.
• Serve as the primary liaison with regulators, government authorities, industry bodies, and executive leadership on regulatory, governance, risk, and compliance matters.
• Establish and maintain effective governance, compliance, operational risk, and resilience frameworks, ensuring robust controls, oversight, and consistent implementation across all jurisdictions.
• Oversee regulatory engagements, inspections, audits, investigations, licensing activities, regulatory submissions, reporting obligations, and remediation of findings.
• Provide regulatory and risk oversight for new products, business initiatives, market expansions, transformation projects, partnerships, tenders, and strategic transactions.
• Lead enterprise compliance programs and regulatory change management, ensuring timely implementation of regulatory requirements and sustainable compliance practices.
• Direct Operational Risk Management activities, including risk assessments, RCSA, KRI monitoring, risk registers, incident management, control testing, and mitigation planning.
• Sponsor Business Continuity and Operational Resilience programs, including BCP, BIA, crisis management, testing, recovery planning, and regulatory resilience requirements.
• Drive regulatory intelligence and horizon scanning to assess emerging regulatory developments, business impacts, risks, and opportunities.
• Promote a strong governance and compliance culture through stakeholder engagement, training, awareness programs, and reporting to senior management and governance committees.
• Maintain enterprise-wide repositories of regulatory obligations, governance documentation, policies, procedures, audit actions, risk assessments, and compliance records.

Operational & Technical Responsibilities:

• Interpret and assess regulatory laws, regulations, circulars, standards, and supervisory communications across operating jurisdictions.
• Prepare, review, and coordinate regulatory submissions, licensing applications, renewals, certifications, declarations, annual returns, and regulatory reporting.
• Conduct regulatory impact assessments and provide guidance on products, operations, customer documentation, contracts, processes, and business initiatives.
• Monitor regulatory obligations, compliance action plans, risk registers, operational incidents, audit findings, complaints, and remediation activities.
• Perform compliance reviews, control assessments, root-cause analysis, and risk evaluations to identify and address regulatory and operational risks.
• Coordinate audits, inspections, investigations, customer disputes, and regulatory inquiries, ensuring timely responses and closure of findings.
• Develop governance frameworks, policies, procedures, compliance advisories, guidance notes, and control documentation.
• Support Business Continuity Management through maintenance of continuity plans, impact assessments, testing records, and resilience documentation.
• Prepare management reports, dashboards, committee papers, and executive updates covering regulatory, compliance, audit, risk, and governance matters.
• Deliver regulatory training and awareness programs and provide technical guidance to business stakeholders.
• Support due diligence, outsourcing reviews, strategic projects, and business initiatives through regulatory, governance, and risk assessments.
• Liaise with regulators, auditors, consultants, legal advisors, industry associations, and internal stakeholders on regulatory and compliance matters.

Essential Requirements:

• Bachelor's degree in Law, Legal Studies, or a related field.
• A Master's degree in a related field is advantageous.
• Proficiency in Arabic is an added advantage.
• Insurance qualifications, such as a Diploma in Insurance, are preferred.
• Minimum of 5 years of experience in Operational Risk, Regulatory Affairs, Compliance, or Audit in a leadership role.
• Prior experience within the healthcare insurance industry in the Gulf region is mandatory.