Chief Risk Officer

Job Title: Chief Risk Officer (CRO) (Grade M/M1)
Location: Karachi / Lahore, Pakistan
Reporting To: Chief Executive Officer (CEO)
Department: Risk Management
Company: IGI General and IGI Life

Key Responsibilities

• Develop and maintain the company’s risk management system in alignment with business objectives.
• The function/ department shall assess, quantify, monitor and control the nature, significance and interdependencies of the risks (at individual level as well as at aggregate level) to which company is or may be exposed and shall also manage them accordingly
• Oversee the design, documentation, testing, and validation of the internal model used for solvency and capital adequacy assessments.
• Ensure robust controls and procedures are in place to manage different risks such as underwriting, pricing, claims, and investment risks across general and life segments.
• Collaborate with Actuarial, Finance, Legal, Compliance, and Internal Audit teams to ensure integrated risk management.
• Present risk reports to the Board Risk Committee and Executive Management.
• Prepare contingency plans (or business continuity plans) for risks to which the insurer is (or may be) exposed, and to communicate the same to the relevant staff
• Drive the company’s risk culture through training and awareness programs.

Qualifications and Experience

• Master’s degree in Risk Management, Finance, Actuarial Science, Insurance, or a related field.
• Professional certifications preferred
• Minimum 10 years of relevant experience in risk management within insurance or financial services, including at least 5 years in a leadership role.
• Actuarial experience is highly preferred
• In-depth understanding of Pakistan’s insurance regulatory landscape (SECP Insurance Rules, etc.).
• Proven experience managing risk across both life and general insurance portfolios

Skills and Competencies

• Strong analytical and problem-solving skills.
• Excellent leadership, communication, and stakeholder management abilities.
• Ability to translate complex risk data into actionable insights for executive leadership.
• High integrity and professional ethics.

Last Date To Apply