AVP, Risk Governance & Reporting

Pacific RE; London; On-site; GBP 85,000 - 110,000; Full time

Job summary

A leading reinsurance firm in London seeks an AVP for Risk Governance & Reporting. This role involves developing a dynamic risk management framework, leading the annual CISSA process, and working closely with senior stakeholders across the business. The ideal candidate has 10+ years of experience in the reinsurance industry and strong analytical skills. The role offers a collaborative work environment and comprehensive employee benefits.

Benefits

25 days annual leave with options to buy/sell

Comprehensive healthcare insurance

Subsidized gym membership

Qualifications

• Minimum of 10 years' experience in business, preferably in life insurance or reinsurance.
• Ability to challenge senior management and regulators confidently.
• Capability to communicate complex concepts effectively.

Responsibilities

• Develop and manage the risk framework and policies.
• Lead the CISSA process with stress and scenario analysis.
• Collaborate with senior stakeholders for risk reporting.

Skills

Analytical skills

Problem-solving ability

Collaboration

Communication skills

Education

Relevant professional qualification

Actuarial qualification

Job description

Job Title

AVP, Risk Governance & Reporting

Job Description

The AVP, Risk Governance & Reporting will play a key part in supporting Pacific Life Re’s changing risk profile, setting risk appetites and analysing balance sheet impacts from stress and scenario analysis.

The role will be instrumental in the oversight and monitoring of Pacific Life Re’s risk management framework. The role is varied and dynamic, with work contributing to key strategic and operational initiatives. The role focuses on:

• Development of the risk management framework including responding to changing BMA regulatory requirements and implementation of risk appetites
• Leading the annual Commercial Insurer’s Solvency Self-Assessment (“CISSA”) process incorporating analysis of internal capital needs and developing stress and scenarios
• Supporting the CRO with preparation of materials for the Bermuda Boards and Enterprise Risk Committee

The successful candidate should have a strong background in capital analysis acquired within a life insurance or reinsurance company. You should also have excellent analytical and problem-solving skills, as well as the ability to work collaboratively with others.

This role will involve working with senior stakeholders across the business, across all legal entities and offices including close collaboration with the wider risk team in Newport Beach.

Core Duties

Risk framework

• Develop the risk framework and manage risk policies
• Evaluate BMA regulatory changes and implement these changes within our global risk management framework
• Investigate differences in capital frameworks to drive optimal ALM and new business appetites
• Develop Divisional Risk MI to recommend and refine KRIs including solvency, liquidity and non-financial risks
• Participate/present at Division Risk Management Committee and Capital Management Committee

CISSA

• Lead the annual CISSA with support from the Risk Actuary
• Develop appropriate stress and scenario analysis to derive meaningful insights on internal capital needs
• Present the CISSA report at the Division Risk Management Committee

Bermuda entities

• Supporting the CRO with preparation of materials for the Bermuda Boards
• Support the development of a Bermuda legal entity capital stress testing framework
• Enhance Resolution planning for the Bermuda entities as RGBM/RIBM meet threshold criteria in 2025
• Develop necessary climate change disclosures
• Support Finance team with year-end regulatory submissions and reporting

Risk team

• Team management for one direct report, supporting their development
• Support the Risk Actuary in their role as Division Risk Management Committee secretary

Qualifications & Experience

Essential

• A relevant professional qualification with at least 10 years’ business experience
• Life insurance or reinsurance industry experience
• Actuarial qualification
• Ability and confidence to provide robust challenge to colleagues, including senior management, and a willingness to challenge the status quo
• Ability to communicate complex concepts and information to a variety of stakeholders (management, regulators, board, staff) both orally and in writing

Desirable

• Familiarity with capital bases and financial reporting standards such as BMA and US GAAP
• Understanding of risk management frameworks
• Knowledge and awareness of BMA regulation

Working For Pacific Life Re

Every person in our global team is valued for the unique qualities they bring to our business and we seek to build their expertise and support their individual ambitions at every step. Of course, we take our work seriously and we know our team can operate under great pressure. We work hard and thrive on achievement, but we also know how to have fun and relax too. We regularly host a range of team building days to strengthen our team's connection with each other and reflect on their successes.

Providing employees with a healthy work-life balance is very important to our culture. We have a wide range of employee benefits and we host regular social activities and well being initiatives. We are also committed to supporting our employee's involvement in their communities, by actively fundraising, hosting charity events and overseeing volunteering opportunities.

Benefits (Only for Permanent and Fixed Term Employees)

Leave

• 25 days of annual leave with option to buy/sell more days

• Adoption and fertility leave

• Generous enhanced parental leave

Healthcare

• Comprehensive private insurance coverage for employee and dependents

• Group Life Insurance coverage of 9x basic annual salary and Group Income Protection up to 75% of basic annual salary

• Optical benefits

Savings & Retirement

• 15% combined employee/employer contributions

Wellness

• Subsidized gym membership

• Access to Employee Assistance Program

• Cycle to Work and Electric Car Salary Sacrifice Scheme

• Time off for volunteering

• Charitable matching of employee donations

As part of our commitment to diversity and inclusion, we will provide reasonable adjustments during the recruitment process to ensure equal access to applicants with disabilities. Please contact us about your needs so that we can discuss these with you to make sure that suitable adjustments are made, where possible.

Pacific Life Re Values

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