Head of Operational Risk and Resilience - London, United Kingdom - Avencia Consulting

Avencia Consulting

Verified Company

London, United Kingdom

3 weeks ago

Posted by:

Tom O´Connor

beBee Recruiter

Description

About us

Avencia Consulting are partnering with a leading specialty Insurer based in the City, who are looking to hire a Head of Operational Resilience to join.

The Company currently writes lines of business including; speciality insurance: aviation & aerospace, energy, marine, property, credit & political risk, and other speciality; reinsurance: property reinsurance, property retrocession, speciality reinsurance,whole account/multi-class.

Key accountabilities

Support Chief Risk Officer
To develop, improve, and maintain Operational Risk framework
Review the existing framework and make recommendations for iterative improvement
Fulfil the 2nd line of defence role of '_advice, coordination, monitoring and challenge_'
Maintain the Operational Risk Policy and Procedures
Manage an annual RCSA process
Manage an annual BIA process
Manage an annual Scenario Analysis process
Manage the Incident reporting process
Manage a quarterly reporting process to three insurance companies
Manage the submissions to the respective insurance companies ORSA reports
To ensure availability of accurate and timely reporting of operational risk and operational resilience management information to the CRO for the Board and the three insurance companies
Provide support to the insurance companies on all operational risk and operational resilience matters.

Operational Resilience:

Responsible for the design and delivery of the operational resilience framework, ensuring it is embedded across the organisation and continues to meet all regulatory and business expectations
To develop, improve and maintain Operational Resilience Framework
Support the SMF 24 / Review the existing framework and make recommendations for iterative improvement.
Fulfil the 2nd line of defence role of '_advice, coordination, monitoring and challenge_'
Maintain the Operational Resilience Policy and Procedures
Manage the annual Self-Assessment process for the company and the Insurance Companies operational resilience
Manage the Testing Plan and Scenario Analysis Process (impact only)
Maintain and develop a program of work that delivers on the regulatory requirements for operational resilience, including reviewing and mapping important business services and testing and remediating them against tolerance thresholds; ensure meaningfulKPIs are monitored
Develop and maintain a robust, business continuity and crisis management framework; ensure it is genuinely effective; identify and address weaknesses; ensure supporting documentation exists, is effective and accessible in any incident; test and learn; promoteawareness of plans
Lead on crisis management, both in testing and any actual invocation; this will involve engagement with senior colleagues/executives and stakeholders and manage and develop operational resilience team members

Skills & experience

At least ten years' experience in the Operational Risk field
To have worked in at least two insurance companies (ideally commercial insurance)
To have been through the recent operational resilience implementation process (ideally at a commercial insurer)
Ability to interact with senior management, including the Board
A strong desire to design and implement processes that are efficient and simple
Great organisation skills and the ability to manage multiple ongoing projects at once
Experience working closely with software engineers or other technical specialists
Other risk and insurance experience welcome.