A Risk Manager opportunity has arisen within the Europe Group Risk Management function.
This position is within the Risk Management Function. The Risk Management Function is focused on the continual development of risk management and capital assessment techniques in line with leading practices. Individuals who are able to build rapport, challenge and deliver, as well as enjoy a variety of work, will excel within this role.
The role holder will work with the Senior Risk Managers and Divisional Presidents/Heads of Business Units to promote the embedding of the Risk Management Framework (RMF) across all the underwriting business segments and product lines within Europe, Eurasia & Africa by enhancing risk management activities.
The role is based in London and will cover all branches within Europe and so may require some travel. The Risk Manager, Business Units is supported by a pool of resources based in London, Paris, Stockholm, and Chennai (India).
Key responsibilities
- Responsible for the embedding of the RMF (and the underlying risk policies) across all business segments through proactive engagement across the business segments to direct the development of a culture of a culture of strong risk management , risk identification, assessment, evaluation and reporting processes, that improves the understanding of risk and promoting best practice.
- To assist the business in understanding and controlling the material risks and to escalate any identified breaches or material issues to senior management, relevant committees and the Board.
- Support the continuous development of the Risk function’s engagement with the business by supporting and advising on first line risk management activities (e.g. risk identification via the risk management system) and attend any relevant management and committee sessions.
- Enhance the capabilities to develop the second line of defence risk oversight with a sufficiently granular understanding of the material risks posed in the various functional units and any key projects risks in order to be able to effectively identify threats and opportunities and to escalate relevant issues.
- Organise and run the quarterly risk owners meeting, including the preparation and distribution of meeting inputs, providing challenge to the business and updating risk management systems/applications to accurately reflect the risk profile of the organisation.
- Promote and support the embedding of the process to identify, assess and monitor emerging risks to ensure effective internal controls and/or identify control weaknesses and mitigating actions.
- Perform specific risk assessments (including quantitative analysis) with the business units on topics recommended by self-appraisal or as request by management or committees, including project risk assessments.
- Support and advise on first line risk and controls self-assessments (including local prudential and conduct risk requirements).
- Support the continual development of the stress and scenario framework in respect of the strategic and annual business plans and business model analysis to enable appropriate risk assessment and identification of suitable mitigating activities.
- Responsible for the providing input into the ORSA processes for the business segments and provides relevant inputs into the quarterly and annual ORSA reports. This includes advising and training on core and on-going risk management principles and practices.
- Responsible for the delivery of the key responsibilities of the Risk Management function such as annual review and update of the Risk Management Framework, Committees and Board reporting, preparation of external submissions and Internal Model responsibilities.
- Support in work relating to Internal Model governance and control, documentation and preparation of reports.
- Assist with other risk management projects as they arise.
Qualifications
Desired qualifications:
- Educated to degree or masters or equivalent professional qualification (Actuarial, Finance, Compliance or Insurance)
- 5 years of relevant experience in a risk management role within the London Market / commercial insurance market including Property & Casualty, A&H and/or Life insurance
- Risk Management and/or capital modelling qualification in either insurance or other financial services would be advantageous
- Solvency II knowledge and awareness of insurance regulatory matters
- Good Excel / VBA skills and some knowledge of capital assessment techniques
Critical skills:
- Broad understanding of enterprise risk management with knowledge of the principles of risk governance
- An understanding of underwriting, market, credit and operational risks
- Ability to communicate effectively with senior management
- Good analytical skills, well organised and an ability to set priorities and deliver under tight deadlines
- Ability to work effectively with direct, matrix management and virtual teams
- Good working relationships with internal / external stakeholders
If you are interested in this role please apply below or contact me for more information.
