Overview
Restrictions Expert Jobs in Riyadh, Saudi Arabia at هيئة التأمين | Insurance Authority
Title: Restrictions Expert
Company: هيئة التأمين | Insurance Authority
Location: Riyadh, Saudi Arabia
Job Purpose
The Restrictions Expert works under the supervision of the Manager and supports the department’s activities related to identifying and monitoring companies/entities providing insurance in Saudi Arabia. The role involves assisting in ensuring that all related entities have obtained proper licenses, conducting risk assessments, coordinating inspection activities, and enforcing penalties for unlicensed activities. The Specialist will also assist in providing high-level reports to internal and external interfaces as required.
Key Responsibilities and Activities
Operations Management :
Implementation of the Division’s policies, regulations, procedures, and controls so that all relevant procedural/ legislative requirements are met while delivering high-quality and cost-effective results.
Restrictions :
Assist in identifying companies/entities providing insurance in Saudi Arabia and ensuring that all related entities have obtained proper licenses.
Support in developing risk assessment exercises over non-licensed insurance-related activities within the insurance market.
Collaborate with the Manager to deploy inspection teams to gather evidence, carry out pre-investigative procedures, and record violations.
Assist in inspecting and seizing the suspected entity’s records, data, and documents.
Aid in requesting any person or agency to disclose and provide information relating to the entity’s activities.
Assist in summoning suspects and persons who have information that may be useful in uncovering an offense or violation and record their statements.
Collaborate with the Manager to coordinate and cooperate with relevant authorities/agencies to govern penalties for unlicensed persons.
Support in addressing violations committed by insurers, reinsurance companies, or insurance service providers that do not adhere to relevant regulations, which may constitute a criminal offense.
Assist in providing high-level reports of activities and results to internal and external interfaces as needed.
Perform any other related job duties as assigned.
Qualifications and Requirements
Knowledge and Experience :
5 years or more of relevant experience in insurance management, inspection and compliance.
Previous experience in government sector or regulatory bodies is preferred.
Education and Certifications :
Bachelor’s degree in Business Administration, Finance, Accounting, or any related specialization
Relevant Professional certification (e.g., GRCP, PPM, PMP,) is preferred
Competencies
Core Competencies :
Effective communication
Teamwork
Results-oriented
Stakeholders’ management
Technical Competencies :
Legal Knowledge
Projects Management
Administrational Processing
Regulatory Oversight
Regulatory Knowledge & Compliance Management
Quality Assurance
Risk Management and Analysis
Risk based inspection
