Risk Manager - City of London, United Kingdom - Massenhove Recruitment

Massenhove Recruitment
Massenhove Recruitment
Verified Company
City of London, United Kingdom

4 weeks ago

Tom O´Connor

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Tom O´Connor

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Description

Risk Manager - Lloyd's Market

Job Market:
Insurance Risk Management

Risk Manager - Lloyd's Market - About the role
Responsibility for all aspects of risk management across assigned clients, challenging the risk management and controls within those clients.


Leading and mentoring more junior team members to develop their understanding of risk management and the group of companies and clients.


Risk Manager - Lloyd's Market - Key duties
Risk management framework


Support the development and maintenance of allocated framework sections, in liaison with other team members and the Head of Risk.


Provide feedback and improvement suggestions for other sections of the framework, to other team members and the Head of Risk.

Risk identification and monitoring

Responsible for identifying, documenting and rating risks in relevant clients, including reviewing work undertaken by direct reports.

Ensuring a complete record is maintained of all the risks in the allocated clients

Organising and facilitating risk workshops to identify and rates risks in clients.

Challenging client management on the risks identified, control effectiveness and the ratings.

Maintain risk registers for allocated clients, including regular challenge with the management.

Risk reporting


Responsible for preparing and presenting the regular and ad hoc reporting for the client Assurance Working Group, Syndicate Boards and Committees.

Risk appetite & KRIs

Maintain the risk appetite statements and monitoring for allocated clients and risk categories, in line with the overall framework.

Provide regular reporting against client risk appetites, discussing breaches with Syndicates and documenting the reasons and actions required.


Oversee the maintenance of the Key Risk Indicators (KRIs) for review at Committee and Board level, flagging exceptions for management action.


ORSA
Prepare
ORSA documentation for allocated Syndicates and contribute updates to the
ORSA framework for allocated risk categories.

Validation


Prepare validation reports for allocated Syndicates and complete validation work for allocated sections of validation, including reviewing and challenging validation work performed by the Actuarial department and external parties.

Stress & Scenario testing


Complete operational scenario testing for the internal model and reverse stress testing (RST) for allocated Syndicates, and provide challenge and input to overall approach for operational risk modelling and RST scenario testing.


Risk Manager - Lloyd's Market - Key requirements
Strong understanding of the insurance market and risk, with a basic understanding of the activities of a Lloyd's syndicate

Experience of working in an underwriting or underwriting-related area or a good understanding of underwriting risk and basic underwriting processes would be an advantage

A keen interest in the understanding of risk management and control concepts.

Strong understanding of Solvency II and other regulatory requirements; an understanding of how they impact on the business desirable.

Ability to use systems and software programs needed to perform responsibilities of the role.

Experience of MS Office (Word Excel, PowerPoint) to an intermediate level desirable.
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