Head of Risk Management

Recruiter
IAC Search
Location
London or Brighton
Salary
£130,000 - £140,000 + Bonus + Benefits
Posted
29 Apr 2022
Closes
29 May 2022
Ref
1676
Job Type
Risk, Risk Management
Employer Sector
Financial Services, Insurance
Contract Type
Permanent
Hours
Full Time

Our client is a highly regarded specialist insurance, reinsurance and services group. The business brings together a unique combination of highly skilled technical specialists and only operate in a niche market area where this expertise has made it a dominant brand.

Reporting to the Executive Risk & Compliance Director and managing a small team, the key responsibilities of the role include:

Risk Management

  • To ensure there are appropriate written policies, procedures and governance in place relating to risk management
  • To manage the Risk Function and oversee their interaction with the business
  • To support the UK Risk Committee in operating according to its Terms of Reference
  • To provide reporting to the Group Risk & Underwriting Committee in regard to Risk
  • To provide training and oversight of others involved in the risk management process as required
  • To ensure that the Risk Register (and all subsidiary detail) is up to date and relevant at all times
  • To ensure the Risk Function continually meets the Lloyd’s Principles in regard to Risk Management and attests to these on a regular basis.

ORSA’s

  • To produce all ORSAs to an appropriate standard and on a timely basis Present all ORSAs to the relevant Committees
  • Ensure all ORSA feedback from Lloyd’s, the PRA and any other stakeholders is addressed

Produce risk assessments for prospective acquisitions

  • Review acquisition proposals and produce a risk report which considers the proposed acquisition against risk appetite, highlights potential risks and issues, and considers operational readiness.
  • Able to review / scrutinise the accompanying pricing report, actuarial report and final recommendation to the Board.

Internal Model Governance

  • To support the Chair in ensuring the Committee discharges its responsibilities effectively and efficiently, operating in accordance to its Terms of Reference
  • Act as the primary, independent, Internal Model validator, including production of all Annual and Major Model Change Validation reports and their presentation to the Committees & Board.
  • Maintain the suite of Policy Documentation, including undertaking an annual review.

Treating Customers Fairly

  • To implement the Treating Customers Fairly and Conduct Risk strategies within the business and ensure they are embedded

General

  • Have an awareness of Data Protection legislation, including the Data Protection Act and the General Data Protection Regulations

Requirements

  • Solvency and capital modelling experience
  • Familiar with Lloyd’s rules and principles
  • Knowledge of PRA/FCA regulations applicable to our business
  • Good knowledge of Governance and risk management theory
  • Good knowledge of Solvency II
  • Previous team management experience
  • Professional insurance/risk/actuarial/finance qualification
  • Minimum 10 years’ experience working in a regulated organisation Insurance or financial services background
  • Experience of portfolios

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