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Lucy Adam

Our client, a leading motor and home insurance provider, has an exciting opportunity as an Insurance and Financial Risk Manager within the Risk & Compliance Team. You’ll be working with the Head of Risk and Chief Risk Officer, contributing to the development and embedding of a comprehensive risk management framework across the Actuarial, Finance, Pricing & Underwriting and Claims functions.

Providing oversight and challenge to the business on the risk it faces, you will need a strong understanding of these business areas and the quantitative approaches they use, to offer robust challenge as well as pragmatic and practical advice. This is a hands-on role and one where you will get exposure to all areas of the organisation on a daily basis. It is a fabulous opportunity to develop your broader commercial experience.

The role would be based out of their Reigate offices, however, much of the role can be carried out remotely, with limited visits to the office for key face to face meetings.

The main responsibilities of the role include:

Foster the development of the organisation's Insurance & Financial risk appetite, tolerances and limits to ensure they are aligned to the company’s Strategy in order to advise business decision making.
Co-ordinate ORSA Stress & Scenario testing.
Assist in the development and delivery of the annual Model Validation Plan, ensuring appropriate alignment with external Validation activity.
Assist in other ORSA process activities including oversight of the Actuarial Function (Calculation of Reserves on IFRS and SII bases, Opinion on Underwriting & Reinsurance Policy) and Model Appropriateness assessments.
Providing second line of defence oversight of and challenge to the business to identify, measure, handle, supervise and report on key Insurance & Financial risks.
Report to various governance committees, including the Model Control Board and Management Risk Committee, as appropriate Insurance & Financial Risk matters – and support the CRO in Audit and Board Risk Committee reporting.
Promote awareness of risk management and understanding across the business.
Actively propose and assist in the implementation of improvements to overall data analytics. Provision of experienced support and advice; providing a risk opinion where required.

To be successful in the role, our client expects candidates to have the following skills and experience:

Degree or equivalent qualification or experience in a related subject area, e.g. finance, insurance, actuarial.
Depth of knowledge of the insurance sector; able to demonstrate an understanding of how business operates and key business processes.
Breadth of knowledge of risk management frameworks and methodology with detailed knowledge and experience of Solvency II; understands current trends and UK regulation.
Significant track record of delivery as the strategic or operational risk lead / subject matter authority.
Able to demonstrate an understanding of pricing / reserving and impact on capital allocation / efficiency.
Knowledge of both the Prudential Regulation Authority (PRA) and Financial Conduct Authority (FCA) regulatory framework and compliance / governance requirements.
Significant theoretical and practical understanding of risk identification and control Methodologies.
Intellectually agile, good analytical skills and validated ability to think laterally.
Able to challenge constructively across all business levels; naturally curious with good investigative skills and influence key decision makers when required.
Able to develop positive working relationships and work optimally with a wide range of partners, both internal and external.
Able to exercise good judgement and decision making.

If this role is of interest to you and your feel that you have the right experience please get in touch.

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