AVP, Risk Governance & Reporting | London, UK

Pacific Life; London; On-site; GBP 80,000 - 120,000; Full time

Job summary

A leading company in the insurance sector is seeking an AVP for Risk Governance & Reporting. This role involves developing risk management frameworks, leading the CISSA process, and collaborating with senior stakeholders. The ideal candidate will have extensive experience in the life insurance industry and strong analytical skills. The company values diversity and offers various benefits, fostering a supportive work environment.

Benefits

Stakeholder Pension Scheme

Life Assurance

Subsidised Gym Membership

Private Medical Insurance

Season Ticket Loan

Eye Care

Employee Assistance Programme

Group Income Protection

Wellness Benefits

Qualifications

• At least 10 years' experience in life insurance or reinsurance.
• Ability to challenge senior management and the status quo.

Responsibilities

• Develop and manage risk policies and framework.
• Lead the annual CISSA process with stress and scenario analyses.
• Support CRO with materials for Bermuda Boards.

Skills

Analytical Skills

Problem Solving

Communication

Education

Actuarial Qualification

Relevant Professional 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 analyzing balance sheet impacts from stress and scenario analysis.

The role will be instrumental in overseeing and monitoring Pacific Life Re's risk management framework. It is a varied and dynamic role, contributing to key strategic and operational initiatives. The focus areas include:

1. Development of the risk management framework, including responding to changing BMA regulatory requirements and implementing risk appetites.
2. Leading the annual Commercial Insurer's Solvency Self-Assessment ("CISSA") process, including analysis of internal capital needs and developing stress and scenarios.
3. 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 within a life insurance or reinsurance company, along with excellent analytical and problem-solving skills and the ability to work collaboratively.

This role involves working with senior stakeholders across the business, including close collaboration with the wider risk team in Newport Beach.

Core Duties

Risk Framework

1. Develop and manage risk policies and framework.
2. Evaluate BMA regulatory changes and incorporate these into the global risk management framework.
3. Investigate differences in capital frameworks to optimize ALM and new business appetites.
4. Develop Divisional Risk MI, including KRIs related to solvency, liquidity, and non-financial risks.
5. Participate and present at Division Risk Management Committee and Capital Management Committee.

CISSA

1. Lead the annual CISSA with support from the Risk Actuary.
2. Develop stress and scenario analyses to derive insights on internal capital needs.
3. Present CISSA report at the Division Risk Management Committee.

Bermuda Entities

1. Assist the CRO with preparation of materials for Bermuda Boards.
2. Support development of Bermuda legal entity capital stress testing framework.
3. Enhance resolution planning for Bermuda entities as RGBM/RIBM meet thresholds in 2025.
4. Develop climate change disclosures.
5. Support finance team with regulatory reporting and year-end submissions.

Risk Team

1. Manage one direct report and support their development.
2. Assist the Risk Actuary as Division Risk Management Committee secretary.

Qualifications & Experience

Essential

1. Relevant professional qualification with at least 10 years' experience.
2. Experience in life insurance or reinsurance industry.
3. Actuarial qualification.
4. Ability to challenge colleagues, including senior management, and willingness to challenge the status quo.
5. Strong communication skills for complex concepts, both orally and in writing.

Desirable

1. Familiarity with capital bases and standards like BMA and US GAAP.
2. Understanding of risk management frameworks.
3. Knowledge of BMA regulation.

Working For Pacific Life Re

We value our diverse team and aim to develop their expertise and support their ambitions. We foster a work environment that balances high performance with fun and relaxation, including team-building activities and well-being initiatives. We are committed to community involvement and offer various benefits, including:

• Stakeholder Pension Scheme
• Life Assurance
• Subsidised Gym Membership
• Private Medical Insurance
• Season Ticket Loan
• Eye Care
• Employee Assistance Programme
• Group Income Protection
• Wellness Benefits

We provide reasonable adjustments during recruitment for applicants with disabilities. Please contact us to discuss your needs.

Pacific Life Re Values

Please click here to view our company values.

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