Rakan Muawad

• Organizes RMC meetings, prepares agendas, distributes materials, and records detailed minutes.
  
• Assists in reviewing and updating risk management policies, and facilitates the preparation and submission of quarterly risk reports.
  
• Acts as a communication link between the RMC and other departments, and provides administrative support to ensure effective risk management implementation.
  

• Represent Risk Management at key governance forums through reporting to multiple sub-committee of the Board of Directors
• Liaise with operational teams to ensure credible and cooperative risk management interactions.
• Annually update risk management policies and the risk appetite framework, monitor exposures, and report quarterly to relevant committees.
• Produce risk management opinions on Strategic Plan and Capital adequacy.

Insurance Risk Management:

• Conduct second opinions on reserves and pricing peer reviews for large deals.
• Review new and existing products comprehensively before implementation.
• Providing formal opinions on reinsurance structures.

Financial Risk Management:

• Monitor market, credit, and liquidity risks quarterly, reporting to relevant committees.

Operational Risk Management:

• Conduct annual risk assessments and establish Key Risk Indicators (KRIs), reporting quarterly to committees.
• Maintain a network of risk correspondents and track action plans for key risks.
• Evaluate vendor, outsourcing, IT/IS, and cyber risks, and update the operational risk profile.
• Provide second opinions on Disaster Recovery and Business Continuity plans.

• Leading operations for Lux KSA.
• Management of Technical submissions to SAMA for Saudi based clients.
• Leading the Technical correspondence with SAMA technical team.
• Business Development for the Health Sector.
• Research & Development for integrating the Actuarial function with other functions in the health sector (i.e Revenue Cycle Management)
• Development of internal processes to build new KPIs for technical submissions.

• Leading the communication with the regulators.
• Regulatory compliance assessments.
• Prepare and execute short and long term plans to comply with existing regulations.
• Implementing and maintaining the corporate governance policy.
• Support the human resources strategic plans implementations.
• Support the internal accounting function

• Support in implementing the steering committee strategic goals across Lux global entities

• Leading the operations to set up Lux Actuaries in KSA.
• Support and develop the Human Resource internal processes for GCC nationals.
• Leading all Technical submissions to SAMA for Saudi based clients.
• Leading the Technical correspondence with SAMA technical team.
• Provide Internal and External Training for Actuarial Analysts on Technical aspects such as Reserving and Pricing.
• Maintain and develop Internal Reserving and Pricing processes and models.
• Financial Condition Reporting.
• Reinsurance Optimization.
• Asset Liability Management Reporting.

• Management of Technical Provisions and Pricing exercises.
• Financial Condition Reporting.
• Pricing Adequacy Reporting.
• Insurance Portfolio monitoring.
• Automation and Development Reserving and Pricing Processes across multiple software.