Director of DB Risk

Just Group plc; London; On-site; GBP 80,000 - 120,000; Full time

Job summary

A leading company in the financial sector is seeking a Director of DB Risk to enhance decision-making and risk management within the Defined Benefits business. This role involves collaboration with senior management, providing risk insights, and ensuring compliance with regulatory requirements. The ideal candidate will have extensive experience in risk management processes and a strong understanding of financial and insurance risk principles. The position offers competitive benefits and opportunities for career progression.

Benefits

Competitive salary

Pension scheme

Life assurance

25 days annual leave plus a birthday day off

Private medical cover

Income protection

Annual bonus scheme based on performance

Career progression opportunities

Access to Headspace app

Employee Assistance Helpline

Qualifications

• Proven experience in implementing risk management processes.
• Extensive knowledge of life insurer processes for de-risking pension schemes.

Responsibilities

• Develop and implement a comprehensive risk management framework.
• Provide advice to senior management on risk aspects.
• Coordinate activities within the Risk Function for effective oversight.

Skills

Relationship Management

Communication

Analytical Skills

Strategic Thinking

Influencing Skills

Education

Externally recognized risk management qualification

Job description

About the role
We are seeking a Director of DB (Defined Benefit) Risk to serve as a trusted partner to the Group Chief Risk Officer and the MD of the Defined Benefit business. The goal is to achieve the objectives of the Defined Benefits business in a risk-aware manner, creating competitive advantage through improved decision making.

Responsibilities

1. Collaborate with the Chief Risk Officer and the MD of Defined Benefits Business to develop, maintain, and implement a comprehensive risk management framework, including identifying, managing, monitoring, mitigating, and reporting risks.
2. Provide trusted advice to senior management on risk aspects of the Defined Benefits business.
3. Act as a senior risk business partner, supporting SMT meetings and risk reporting.
4. Offer proactive risk advice, support, and challenge to management, especially regarding change initiatives.
5. Understand and communicate regulatory priorities and risks related to governmental and policy developments.
6. Represent the Risk Function in Board, Executive, and internal committees, providing risk opinions on transactions and initiatives.
7. Coordinate activities within the wider Risk Function to ensure effective risk oversight and communication.
8. Support the development of Risk Function members, fostering high standards of controls and proactive risk management.
9. Participate as a senior leader within the Risk Function, supporting the CRO and contributing to the function's development.
10. Ensure proficiency in the use of the Group’s risk management database (SWORD) and support risk identification and reporting at the departmental level.
11. Manage and support direct reports in skill and knowledge development.
12. Ensure compliance with internal policies, procedures, and regulatory requirements.

Experience

• Proven practical experience in implementing and operating risk management processes.
• Extensive knowledge of life insurer processes for de-risking defined benefit pension schemes.
• Experience supporting risk in large transformations.
• Strong customer service orientation and internal partnership building experience.

Skills and Knowledge

• Excellent relationship management and communication skills.
• Deep understanding of risk management practices, including emerging risks.
• Knowledge of regulatory frameworks such as Solvency II and PRA expectations.
• Understanding of financial and insurance risk and capital management principles.
• Strong analytical, strategic thinking, and influencing skills.

Qualifications

Externally recognized risk management qualification is essential.

Company Benefits

• Competitive salary, pension scheme, and life assurance.
• 25 days annual leave plus a birthday day off.
• Private medical cover and income protection.
• Annual bonus scheme based on performance.
• Career progression opportunities.
• Access to Headspace app, Employee Assistance Helpline, and trained health first aiders.
• Additional employee-funded benefits and purchase options.