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Reporting to the Director of Risk & Compliance (UK), the role is responsible for leading the development, maintenance and embedding of a risk management framework, and the planning and execution of the risk assurance program.
Key Responsibilities & Accountabilities:
• Maintain personal and team knowledge of relevant regulations and best practice with regard to the System of Governance requirements, highlighting developments that may affect the ongoing compliance and effectiveness of risk framework and advising the business appropriately.
• Based upon company risk profiling, agree with the Director of Risk & Compliance (UK) an appropriate programmer of risk assurance activity. Implement and report results to the business, the Director of Risk & Compliance and the Governance Committees as required. Coordinate risk assurance work with UK compliance, Group Internal audit and with risk management & compliance colleagues across the group.
• Take a leading role in working with colleagues to ensure coherence of risk frameworks and the efficiency and effectiveness of group-wide risk response, e.g. AML / CFT, cyber security, financial crime, regulatory risk.
• In collaboration with the UK Underwriting, Actuarial and Finance teams, perform risk analysis to support and inform business planning processes and the evaluation of new business opportunities.
• Develop and maintain good working relationships with the Group Actuarial team, developing a good understanding.
• Lead the development and execution of Capital Model validation plans and reports.
• Ensure that Risk Management concepts are well understood throughout the UK business; identify gaps in knowledge and provide (or facilitate) provision of additional support, guidance or formal training as necessary.
• Assist senior management to discharge their responsibilities effectively with regard to risk management. Leading work with the UK executive management to identify, assess and monitor top risk exposures and associated risk responses relative to business objectives.
• Assist business line managers in fulfilling their risk management responsibilities; this includes provision of effective challenge and feedback to Heads of Department with regard to the identification, assessment and mitigation of risks within their area.
• Provide analysis and management information to inform the Director of Risk & Compliance, reporting to and attending relevant governance meetings, the UK Board and the UK Executive Committee of the strength control environment and any required actions.
• Work with the business in identifying emerging risks (> 1 year horizon); highlight the emerging risks to the UK Board and agree any associated risk response or investigation.
Qualifications & experience:
• Minimum of 5 years’ experience in a centralised risk management function or similar environment
• In depth knowledge of risk management frameworks and risk & control assessment processes
• Experienced in carrying out risk assurance visits and presenting associated findings
• Good understanding of ORSA / Solvency regulations; Good knowledge of relevant UK Financial Services regulation and legislation
• Well-developed analytical and report writing and presentation skills
• Good communication and listening skills
• Sound interpersonal and negotiation skills
• Professional qualification in risk management, accountancy, or audit (CII, ACCA, CISI, IRM or equivalent recognized degree level qualification)
• Specialist knowledge of risk responses for one or more key risk areas: cyber security, data protection, financial crime / fraud, regulatory risk, insurance risks
• Experience of applying formal risk modelling techniques
• Experience of developing scenarios and carrying out stress / reverse stress tests
• Experience gained within the insurance industry, specifically general insurance
• Experience of executing capital model validation processes
• Knowledge of the structure and purpose of risk based Internal Audit programmes
• Experience of governance across geographically dispersed operations
• Track record of leading and delivering risk management programmes across a diverse user base
• Understanding of the wider European regulatory e
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