Senior Strategy & Risk Manager
AXA Insurance
مجموع سنوات الخبرة :18 years, 11 أشهر
I am currently working as Strategy and Risk Manager and my major responsibilities include:
1. Planning, budgeting and forecasting
I am part of Regional Planning, Budgeting and Forecast Team and is responsible to draw plan, budget and forecast for Saudi Arabia. Company’s planning and budgeting process is on rolling basis and monthly performance is assessed (in monthly dashboard).
2. Monthly Reporting
After assuming Strategy role my key responsibility included preparation on monthly Dashboard. These dashboards include following information:
• Summary analysis of Monthly and Year To Date (YTD) performance
• Premiums and earnings summary (numerical and graphical)
• Premium and underwriting margin by line of business
• Premium and underwriting margin by geographical location
• Premium and underwriting margin by distribution channel
• Large claims analysis
• Summary and detailed balance sheet
• Summary and detailed P&L
• Monthly P&L trends
• Monthly loss ratio trends
• Detailed KPI by geographical location and Line of business
• Solvency analysis
• Comparison of results with budget and forecast
• Comments on the performance of the company
3. Management Reports
Board meetings are conducted on quarterly basis to review overall performance of the Company. I am responsible for preparation of Board Pack which include following:
• Key YTD Financial highlights (premiums, key ratios, profit & loss, solvency)
• YTD P&L and comparison against budget
• Premium highlights (by line of business and geographical location)
• Net insurance results (by line of business and geographical location)
• Detailed analysis of large Lines of Business
• Update on initiatives and SWOT
• Update on Strategic Plan
• Stock Price Analysis
• Competitor Analysis
• Other important and key updates
4. Market and Competitor Analysis and presenting quarterly highlights
Insurance Sector in Saudi Arabia is highly competitive. Therefore it is important to review Company’s financial position and competitors’ position. I am responsible for quarterly review of Insurance Sector. This analysis includes premium analysis, line of business analysis with focus on Company’s key lines. I also perform post-mortem analysis of financial position of key competitors to analyze their profitability. I prepare these reports in MS Excel and summary is presented in MS Power Point to Executive Committee and Board of Directors (as part of Board Pack). This analysis helps Company analyze its current competitive position and update its SWOT analysis, when necessary.
Prior to my current role I have worked as Senior Manager - Risk Management and Compliance. This role has enables me to understand applicable laws and regulations in Saudi Arabia and Gulf Region. My major responsibility included:
• Managing relationship with various regulators (Saudi Arabian Monetary Agency, Capital Market Authority etc.)
• Ensuring compliance with internal and external laws and regulations
• Compliance Audits for various key processes of the Company
• Customer Due Diligence for Anti-Money Laundering. • Developing policies and procedures for various functions of the company.
• Review of various regulatory return before submission.
I have also supported Corporate Finance team (due to my strong finance back ground):
My Role in Corporate finance include:
• Handling various key strategic projects for Saudi Arabia
• Preparing monthly and quarterly financial reports for the Board of Directors
• Preparation of regulatory financial returns
• Preparing quarterly and annual financial statements and coordination with External auditors
• Performing scenario analysis and stress testing to assess the impact on budgets and forecast
• Performing solvency calculations
• Assisting management in Solvency II framework
• Performing insurance market analysis and competitor analysis
I worked as a Senior Associate in the Assurance and Business Advisory Services (ABAS) Group. I mainly handled FS (financial services) clients and some consumer Industrial Products & Services (CIPS). I have been involved in statutory audits, Internal audits, and control review. My responsibilities included:
Job planning, supervision and execution, including close liaison with clients.
- Conducting audit in accordance with International Standards on Auditing (ISA)
- Building and maintaining effective client relationships
- Conducting controls review and ensuring that policies and procedures have been properly complied with
- Ensuring that the financial statements prepared by the client are in accordance with the International Financial Reporting Standards (IFRS) and all applicable local laws and regulations
- Audit of all major banking functions including head office functions, treasury operations, local and overseas branch operations, review of loans and advances portfolio, reporting of foreign subsidiaries, tax related matters and other statutory reporting requirements
- Reporting to various authorizes for compliance of laws and regulations (CMA, SAMA, DZIT etc).
I worked as a Senior Associate in the Assurance and Business Advisory Services (ABAS) Group. I mainly handled FS (financial services) clients and some consumer Industrial Products & Services (CIPS). I have been involved in statutory audits, Internal audits, and control review. My responsibilities included:
- Job planning, supervision and execution, including close liaison with clients.
- Conducting audit in accordance with International Standards on Auditing (ISA)
- Building and maintaining effective client relationships
- Conducting controls review and ensuring that policies and procedures have been properly complied with
- Ensuring that the financial statements prepared by the client are in accordance with the International Financial Reporting Standards (IFRS) and all applicable local laws and regulations
- Audit of all major banking functions including head office functions, treasury operations, local and overseas branch operations, review of loans and advances portfolio, reporting of foreign subsidiaries, tax related matters and other statutory reporting requirements
- Reporting to various authorizes for compliance of laws and regulations
Qualified Chartered Management Accountant
Associate Chartered Accountant from Institute of Chartered Accountants of Pakistan.
I am Graduate from University of Karachi with First Division.