Senior risk manager - Insurance

Posted 21 July 2023
Salary £80000.00 - £95000 per annum
Job type Permanent
Discipline Risk
Contact NameRichard Williams

Job description

The Risk Manager will support the CRO in developing and embedding the firms risk culture; providing value to the business and compliance with risk related Solvency II requirements.

The successful candidate will do this by:

· Supporting the CRO and working collaboratively with the risk analyst to further develop and embed the ERM Framework to:

o Refine and maintain the risk register, including a risk and control attestation process with a focus on embedding first line responsibilities and review and challenge by the risk team.

o Review of and monitor against the risk appetite framework including working with risk owners to further identify supporting metrics and with the capital team in the identification of capital related appetites and metrics.

o Support the annual review of the ERM framework and associated policies including ORSA and level One risk category policies.

o Further embed the ORSA process and drafting of a high quality ORSA Report.

o Develop and co-ordinate the suite of stress and scenario tests in support of a risk view on the SBF and Internal Model Validation; working with the first line owners in the business.

o Further develop the approach to Emerging and ESG related Risks.

o Provide high quality and timely input to reports to meet internal and regulatory deadlines including for management and Board level Committees; participate in presentation at relevant management Committees as required. Further refine the reporting format linking to the firms ambitions on data and analytics.

· Work in a collaborative way with the business to understand, capture and assess new and changing risks (including emerging risks) to reflect the evolution of the firms Strategy and the changing internal and external risk and control environment.

· Work collaboratively with Internal Audit and Compliance to embed the risk culture including provision of coordinated assurance around:

o The risk framework and key risks to the business, including through potential deep dive reviews of key risk areas.

o The adequacy of controls including consideration of loss events.

· Support the CRO in providing oversight and challenge of the syndicate's Internal Model Governance including the link with the external validators.

· Provide training and coaching to others in the risk management framework; including any guidance required to the risk analyst.

· Provide risk management input on certain projects as they arise from time to time and through review and challenge of key changes to the risk profile.

· Deputise for the CRO where required on internal committees and with external stakeholders

To do this, we're going to need you to bring:

· Minimum 5 years' experience in risk management within an insurance entity, preferably with Lloyd's experience including good understanding of an underwriting environment.

· Experience of stress and scenario testing

· Awareness of Internal Model requirements

· Capability and appetite to operate in a small 'hands-on' team

· Effective inter-personal skills to engage others in risk and support the firm in building the right culture