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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
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
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
Proactively champion a continuous improvement mindset, unconstrained by current technologies or processes
Identify value adding quick wins and longer-term improvement opportunities
Requirements
Bachelor's degree in Risk Management, Finance, Economics, Actuarial Science, or a related discipline
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