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Group Head of Risk Management

Date Posted
6th April 2016
Reference
CR0604161
Sector
Risk Management
Job Type
Permanent
Location
London
Benefits
Excellent Benefits
Salary
£110,000 to £130,000 Per Annum

Job Description Apply: Group Head of Risk Management

The purpose of the role is to design and implement a risk management framework appropriate to the size and complexity of the Group and to support effective risk management throughout the business. Embedding an enterprise risk management culture throughout the business. Managing the effective operation of the risk management system and monitoring risk management framework. Creating and implementing an annual Risk Management plan, and reporting on the progress to the Risk and Audit Committee (RAC)

Assisting in the identification of all material risks faced by the business, and the continuous monitoring of these risks for changes in severity and /or likelihood. Ensuring that the risk ownership is allocated to appropriate senior management and facilitating regular risk reviews and reports on findings to the RAC and the Board. Recommending, reviewing and monitoring risk mitigation methods, and reporting on the effectiveness or risk mitigation efforts. Assisting the business in setting and understanding risk appetite and tolerance across each of the key risk areas and maintaining an aggregated view on the risk profile of the Group

Monitoring the agreed risk and performance indicators, reporting any material breaches, recommending the actions taken in response, and reviewing the process and procedure to prevent future repeats. Design , maintenance and use of the capital model and integration with the systems of risk management and the day to day functions of the business. Assessing the internal model as a tool of risk mgmt to calculate the Group’s capital requirement. Reviewing and improving stress and scenario tests and reverse stress tests, and preparing logs and reports for all tests. Identifying and assessing emerging risks and assisting the business in providing risk information for use in the decision making process. Guiding and overseeing the risk management team of the subsidiaries/*** UK and managing ***UK ORSA process

Monitoring any changes in the ***UK business and risk strategy, and advising on the need for ad-hoc ORSA to the Board as necessary. Regular liaison with Group Compliance function to ensure policy alignment and breaches record keeping and Internal Audit to provide input to risk based auditing process. Whilst the function will be responsible for the design, maintenance and monitoring of the capital model it will call upon other expertise from other functions as required, predominantly Actuarial, Underwriting management and Finance.

Qualifications

  • Qualified/certified Actuary
  • minimum 10 years middle management with 5 years senior management in general insurance industry writing world-wide risk
  • Working experience with insurance capital modeling tools
  • In-depth knowledge of loss reserving including IBNR, reinsurance programs, pricing etc.,
  • Fluent in written and oral English
  • a sound understanding of ERM principles and philosophy
  • ability to think strategically
  • excellent communication skills
  • excellent facilitation skills
  • able to organize and motivate others, who in many cases may be in a more senior position
  • ability to work with all levels of management and across business units and departments
  • a Team leader

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