Head of Enterprise Risk Management Job at Social Value Portal Ltd (London)

Job Description

Job Title: Head of Enterprise Risk Management (9 month FTC). Division: Risk and Compliance. Key Relationships: Risk and Compliance, Controls and Compliance Assurance Team, Group Actuarial, Internal Audit, Culture & People, Finance and Operations teams. Job Summary: Enable business strategy, protect clients, and embed and steward a strong risk culture. Lead implementation, ongoing oversight, and regular review of the group’s enterprise risk management and control assurance frameworks, ensuring these comply with all relevant rules and obligations. Work collaboratively with the second line SLT. This role will ensure sound and mature business judgement is applied to advise and facilitate on risk management, controls and governance.

Job Responsibility

Implement, maintain, and raise awareness of the Enterprise Risk Framework, including: Corporate Risk Profile
Risk Appetite
Risk Taxonomy
Control Environment
Key Risk Indicators
and Governance
Develop, implement, and maintain effective enterprise, emerging and operational risk frameworks across the group
Develop, implement and maintain effective 2nd Line control assurance methodologies, plans and processes
Lead the ongoing development of our GRC system, supporting processes and enhancements in the control environment
Maintain risk policies and standards, develop suitable KRIs and other relevant risk metrics
Liaise with key stakeholders to complete risk appetite monitoring
Ensure effective Risk and Control Self-Assessments (RCSA) are performed across the group
Articulate the key risks to senior management and the relevant governance forums. This includes identifying areas for process/control improvement
Support key operational initiatives including business continuity planning, disaster recovery, information security, and operational resilience
Contribute to the production of risk reports for the Board, Risk Committee, and others as required
Administer the process for the capture of loss events and near misses and investigate and document the root cause of incidents and planned remedial actions
Maintain records and progress trackers of all ERM activities
Contribute to an effective ORSA process and report, including a focus on individual syndicates
Provide training to the business to support and implement a strong risk culture
Be an active SLT member ensuring that the 2nd line vision and strategy is periodically refreshed and delivered. Communicate the vision and strategy to the function and other stakeholders
Ensure that the team are informed of and represented on relevant business projects and seen as business enablers from a risk challenge and support perspective
Provide leadership, direction and support to direct reports and team as per the organisation chart
Proactively champion a continuous improvement mindset, unconstrained by current technologies or processes
Able to identify value adding quick wins and longer-term improvement opportunities
Provide leadership, direction and support to the team
Foster a spirit of inclusion, teamwork and unity that reflects Beazley’s overall workplace culture, values and appreciation of the benefits of diversity
Act as a manager, mentor and coach to direct reports to enable them to fulfil their potential, ensuring continuous development of them and the wider team
Ensure direct reports are supported in contributing to the delivery and achievement of the overall team and business objectives
Provide effective performance feedback on a regular basis, ensuring employees are recognised and rewarded for their contribution. Conversely, provide timely feedback to address poor performance, taking disciplinary action as appropriate
Maintain transparent and effective communication through department meetings, one-to-one meetings, email etc
Encourage knowledge sharing and effective delegation to minimise key person dependencies
Work with other team managers, to ensure team resources are effectively utilised and people are appropriately challenged
Encourage direct reports to think proactively about their careers, signposting development and stretch opportunities for strong performers where possible
Work with Culture & People as appropriate to escalate performance concerns, to ensure set objectives are clear and measurable and progress is tracked accordingly

Requirements

Bachelor’s degree in Risk Management, Finance, Economics, Actuarial Science, or a related discipline
and/ or Professional qualifications in risk or insurance (IRM Diploma, CII Advanced Diploma)
Excellent management skills with the ability to influence and manage a team of professionals
Accomplished relationship manager
Readily able to influence and negotiate at senior levels within the business
Ability to manage time, meet deadlines, and prioritise
Motivational skills, team worker as well as able to work on own initiative
Ability to work under pressure and to tight deadlines
Change management skills – have a track record for designing and implementing robust change management to review and improve existing practices and procedures
General commercial and financial knowledge
Strong communication skills, able to communicate at all levels, both verbally and in writing
A demonstrable track record of strategic thinking
Hands-on implementer, able to drive through change where appropriate
Technical expertise – in-depth knowledge of insurance/reinsurance through practical application, including a thorough understanding of the key functions across insurance and reinsurance firms
Ability to develop high performing teams, including a culture of continuous improvement where the function is seen as “value add”
Strategic thinker capable of grasping the bigger picture
Ability to articulate complex messages to senior management in order to facilitate effective monitoring and decision making
Ability to quickly analyse complex issues, making the correct recommendations
Strong problem-solving capability
Ability to effectively challenge the 1st line, as required
Clear definition of 1st and 2nd line understanding and responsibilities
Experience in managing 1st and 2nd line challenge and articulating 2nd line risk perspective
Significant experience in the developing and updating risk management and control frameworks
Significant experience and knowledge in financial services, preferably in insurance
Experience in implementing effective ORSA, including a focus on individual entities or syndicates
Evidence of 2nd line challenge
General commercial and financial knowledge
A strong communicator
Outcome focussed, self-motivated, agile, and flexible
Able to understand and articulate the strategic “big picture”
Technically innovative, a problem solver and solution builder
Professional approach to interact successfully with colleagues
Able to work with multi-cultural and multi-location teams
Ability to work closely in a team environment and develop productive working relationships

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Head of Enterprise Risk Management

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