Well known City based Insurance Company requires a Senior Risk Analyst to join small team responsible for supporting the development and maintenance of the legal entity risk frameworks.

The role will include risk governance, risk identification, risk policies, risk appetite and limit framework and risk reporting. The role will support regulatory compliance activities with respect to risk management standards and risk related reporting requirements for the group.

For each legal entity and branch you will carry out the following duties:

• Co-ordinate the ORSA processes
• Co-ordinate the annual risk and control assessments
• Assist management in the review of risk management documentation
• Maintain and update relevant entity risk policies and guidelines
• Compile internal risk dashboard/scorecard reports
• Co-ordinate and draft risk related disclosures, including Pillar 3 reporting requirements
• Co-ordinate annual review of risk appetite and limit framework

Candidates should have a background in audit or consulting with experience in operational risk, and/or implementing enterprise risk frameworks

Experience with financial and risk reporting

Previous Insurance experience required

Leading Lloyd’s managing agency with syndicates require a Risk Manager.

Reporting to the Director of Risk and Assurance with specific responsibilities with respect to Risk Management and the ORSA.

Specific responsibilities include:

• Promoting a risk aware culture across the organisation
• Maintaining the risk management framework and changes thereto as well as the processes and systems for keeping them up to date;
• On-going review of the existing overall risk management process for the firm in conjunction with the Director Risk and Assurance and making recommendations for changes to enhance the process to the Risk Committee.  This will include reviewing the process for routine operational managers to review and reassess the level of risk posed by the functions within their sphere of responsibility and reporting to the Executive Committee and Board from the company wide perspective on the aggregated view of the risk profile;
• Supporting management in the effective operation of the risk management system by either conducting or co-ordinating specialist analysis and quality reviews and the on-going development of risk strategies;
• Keeping the Risk Committees apprised of issues relating to the risk profile of the business and emerging risks which may impact on future operations;
• Promoting a risk aware culture across the organisation;
• Undertaking risk evaluations involving the comparison of estimated risk with risk appetite and evaluating the effectiveness of the firm’s previous management of the risk (Back testing) and assisting with the risk ranking exercise;

Responsibility for element of the Use Test which includes:

• The continued development of the Risk reporting and ORSA process, co-ordination of the assessments and the production of the Risk and ORSA report and reporting to the relevant bodies on the outcomes;
• Ensuring that the risk management process is used appropriately to ensure that the risk profile of the business is properly reflected within the capital models;
• Informing, supporting and verifying the risk management process by reconciling model outputs to the outputs from the risk assessment process;

The ideal person will be someone mathematical with more of an assurance as opposed to operational background.

Our client, a well established insurance business, are looking to recruit an experienced Risk Officer to join their London head office team.

This position is responsible for identifying, measuring, reporting and management of company risks, as well as being responsible for the implementation of Solvency II.

 Key Responsibilities

• To ensure that all company risks are identified, measured, managed and controlled
• To identify, manage and report on all mitigating controls
• To educate all staff in risk management
• To recommend better ways of controlling and reporting risk within the company
• To prepare reports to the PRA on all risk management matters
• To implement the requirements of Solvency II within the company
• To report to the Audit & Risk Committee on a regular basis
• To coordinate with the Board and executive on internal audit requirements

 Qualifications / Experience Required

• Experience in risk management
• Knowledge of PRA requirements
• Knowledge of Solvency II

The successful candidates will have excellent communication skills: written and oral, an ability to discuss and persuade both Executive and junior staff members, the ability to train and advise staff on technical matters, a solid understanding of the business and have an independent mind.