Education and Experience
A bachelor's degree in finance, accounting, or a related field is usually required. A master's degree or professional certifications (such as CFA or CPA) is preferred.
10 years+ experience in the insurance industry is essential, preferably in a finance or accounting role. Knowledge of insurance principles, contracts, and regulations is required.
Proficiency in relevant languages, such as English and Arabic, is typically required. Additional language skills may be preferred for international organizations with diverse operations.
Strong financial analysis and reporting skills, including experience in preparing financial statements, budgeting, forecasting, and variance analysis.
Proficiency in interpreting financial data, identifying trends, and providing insightful recommendations to senior management.
Familiarity with insurance accounting practices, such as IBNR (Incurred But Not Reported) reserves, premium recognition, and loss reserves.
Possess strategic thinking skills to align financial goals and initiatives with the overall business strategy. Ability to contribute to the development of long-term financial plans and provide high-level analysis.
Experience in conducting financial modeling, scenario analysis, and risk assessment to support decision-making processes.
Aptitude for identifying opportunities for process improvement and implementing effective financial controls.
Leadership and Team Management
Proven leadership skills, including the ability to effectively manage and develop a finance team.
Strong communication and interpersonal skills to collaborate with cross-functional teams and build relationships with key stakeholders.
Experience in setting performance goals, providing feedback, and fostering a positive work environment.
In-depth understanding of insurance concepts, terminology, and best practices.
Familiarity with insurance contracts, treaty structures, and related documentation.
Knowledge of industry regulations, compliance requirements, and reporting standards specific to insurance across the region.
Reporting and Compliance
Experience in generating various financial reports, including monthly performance reports, aging reports, and strategic reports, is important.
Excellent interpersonal and communication skills are essential for building and maintaining relationships with top cedants and insurers. The ability to negotiate and collaborate with key stakeholders is crucial in the insurance industry.