Head of Risk Function

Join Our Team as a Head of Risk Function at AzRe!

We are seeking an experienced and highly motivated Head of Risk Function to support the Chief Risk Officer (CRO) in leading and enhancing the company’s risk management framework. The role will focus on risk identification, measurement, monitoring, and reporting across all key risk categories, ensuring alignment with regulatory requirements (e.g., CBAR), international frameworks (e.g., Solvency II), and internal risk appetite.

Candidate requirements:

• Bachelor’s or Master’s degree in Actuarial Science, Risk Management, Finance, Mathematics, or a related field.

• 4+ years of experience in risk management, actuarial activities, audit, or financial management roles.

• Strong understanding of: Risk management and capital modelling concepts; Solvency II framework; IFRS 17 requirements.

• Experience in stress testing, scenario analysis, and risk reporting.

• Familiarity with catastrophe risk and reinsurance structures is an advantage.

• Professional qualifications (e.g., actuarial credentials, FRM) are preferred.

• Strong analytical, problem-solving, and decision-making skills.

• Excellent communication skills and ability to present complex risk topics clearly to senior stakeholders.

• Leadership experience and ability to manage and develop a team.

Main job responsibilities and job information:

• Support the CRO in maintaining and enhancing the Enterprise Risk Management (ERM) framework.

• Implement and monitor the Risk Appetite Statement (RAS), including limits, tolerances, and escalation procedures.

• Prepare and present regular risk reports to the CRO, Executive Management, and Board Risk Committee.

• Lead and oversee the Solvency II-based internal capital model and monitor capital adequacy (e.g., Solvency II ratio).

• Perform stress testing and scenario analysis, including catastrophe scenarios and macroeconomic shocks.

• Oversee exposure management processes, including monitoring of accumulations and catastrophe risk exposures across portfolios.

• Lead the ORSA process and forward-looking risk assessments.

• Assist in regulatory reporting and communication with the Central Bank and other stakeholders.

• Lead the engagement with rating agencies such as AM Best.

• Develop and maintain risk-related policies and frameworks (e.g., Risk Management Policy, Stress Testing Framework, Business Continuity).

• Collaborate with underwriting, actuarial, finance, and IT teams to integrate risk management into business processes.

Identify, assess, and monitor key risks, including:

• Underwriting risks (premium, reserve, catastrophe);

• Market risks (FX, interest rate, spread);

• Credit risks (counterparty default);

• Operational and liquidity risks.

Why AzRe?

• Work at the center of the reinsurance industry in Azerbaijan.

• Play a key role in shaping the company’s risk management framework.

• Exposure to international markets, rating agencies, and regulatory environments.

• Opportunity to work closely with senior management and Board-level stakeholders.

• Clear career progression within a growing organization.

Working conditions:

• Comprehensive medical insurance.

• Free Push30 gym membership.

• Working schedule: Monday - Friday, from 09:00 to 18:00; Saturdays and Sundays, public holidays and national days of mourning are non-working days.

• A modern workspace with a fun and welcoming break area filled with games and activities.

• Salary: to be discussed during the interview

Address: Baku city, Bakikhanov street, 6, Bridge Plaza.

Candidates are requested to the e-mail address in the Apply for job button their CV with the title of the position (Head of Risk Function)