Insurance Risk Lead

Tide; United Kingdom; Hybrid; GBP 70,000 - 100,000; Full time

Job summary

A leading company in financial services is seeking an Insurance Risk Lead to develop and manage risk frameworks for their insurance activities. This role involves collaboration across teams to ensure compliance and effective risk management, offering an opportunity to shape insurance products for small businesses.

Benefits

Share options

Flexible working options

25 days holiday plus 5 unpaid days

3 days paid volunteering or L&D leave annually

£1,000 personal L&D budget per year

Group Life Insurance, Vitality Health, Dental Insurance

Modern office near Old Street with snacks bar

Enhanced family leave

Global mental wellbeing platform with therapy sessions

Work from home budget

Team socials and events

Sabbatical leave

Qualifications

• Experienced Insurance Risk Lead with a strong background in insurance within an MGA model.
• Deep understanding of underwriting and claims management risks.
• Proven track record of execution and a hands-on risk management approach.

Responsibilities

• Overseeing the identification, assessment, and management of all insurance-related risks.
• Developing risk appetite and KRIs, and implementing risk mitigation strategies.
• Leading risk assessments for new insurance products and services.

Skills

Stakeholder Management

Risk Management

Underwriting Knowledge

Claims Management

Regulatory Compliance

Job description

At Tide, we are building a business management platform designed to save small businesses time and money. We provide our members with business accounts and related banking services, along with a comprehensive set of connected administrative solutions from invoicing to accounting.

Launched in 2017, Tide is now used by over 1 million small businesses across the world and is available to UK, Indian, and German SMEs. Headquartered in central London, with offices in Sofia, Hyderabad, Delhi, Berlin, and Belgrade, Tide employs over 2,000 employees.

Tide is rapidly growing, expanding into new products and markets, and always looking for passionate and driven people. Join us in our mission to empower small businesses and help them save time and money.

ABOUT THE TEAM:

The Risk & Compliance team is our second line of defence (2LOD) at Tide, overseeing risk and compliance across all our global markets. The team covers all risk classes, including information security risk, financial crime risk, conduct risk, and operational risk. It is highly collaborative, focused on fostering a strong culture of compliance, acting as business partners to our first line of defence (1LOD) colleagues, and providing expert and independent oversight.

Insurance Risk is a new risk area within Risk & Compliance, to support both the new product offering and our corporate insurance. This role offers a significant opportunity to shape how we develop insurance products for our members and manage insurance risk at Tide, leveraging your industry knowledge and best practices. The Insurance Risk Lead reports to the Chief Risk Officer.

ABOUT THE ROLE:

As the Insurance Risk Lead, you will be responsible for developing, implementing, and managing the risk framework related to the company’s insurance activities, focusing on underwriting risk, claims management, pricing, and regulatory compliance. You will work closely with the Compliance team on licensing and play a key role in maintaining Tide's compliance with insurance regulations for a Managing General Agent (MGA). The role involves collaboration with internal stakeholders such as financial crime risk, conduct risk, and regulatory risk teams to assess, mitigate, and monitor insurance-related risks effectively. Key responsibilities include:

1. Overseeing the identification, assessment, and management of all insurance-related risks.
2. Developing risk appetite and KRIs, and implementing risk mitigation strategies.
3. Leading risk assessments for new insurance products and services.
4. Enhancing existing risk mitigation practices.
5. Supporting the MGA licensing process and ongoing compliance.
6. Integrating insurance risk into the overall risk management framework.
7. Defining risk appetite and KRIs, and reporting to senior management and the board.
8. Establishing internal controls and procedures for insurance risk management.
9. Assessing and managing risks associated with insurance product portfolios.
10. Serving as a subject matter expert, providing guidance and training.
11. Communicating key risk metrics and insights to leadership.
12. Collaborating with other risk leads and supporting claims management policies.
13. Ensuring accurate reporting and documentation for audits and regulators.

WHAT WE ARE LOOKING FOR:

• Experienced Insurance Risk Lead with a strong background in insurance within an MGA model.
• Deep understanding of underwriting and claims management risks.
• Experience with SME insurance product lines is preferred.
• Experience in a technology-driven environment is a plus.
• Proven track record of execution and a hands-on risk management approach.
• Experience working in a 2LOD team.
• Knowledge of setting risk appetite, policies, and monitoring practices.
• Experience in building risk frameworks from the ground up is desirable.
• Understanding of regulatory capital management, stress testing, and portfolio risk analysis.
• Excellent stakeholder management skills, with credibility among senior leaders and regulators.
• Knowledge of UK or international risk governance and compliance standards.
• Motivated leader with a collaborative and resilient mindset in a fast-paced environment.

WHAT YOU WILL GET IN RETURN:

Our location-specific benefits include:

• Share options
• Flexible working options
• 25 days holiday plus 5 unpaid days
• 3 days paid volunteering or L&D leave annually
• £1,000 personal L&D budget per year
• Group Life Insurance, Vitality Health, Dental Insurance
• Modern office near Old Street with snacks bar
• Enhanced family leave
• Global mental wellbeing platform with therapy sessions
• Work from home budget
• Team socials and events
• Sabbatical leave

TIDEAN WAYS OF WORKING

At Tide, we support a flexible workplace model combining in-person and remote work, fostering team spirit and collaboration through regular face-to-face interactions at our offices.

TIDE IS A PLACE FOR EVERYONE

We embrace diversity and inclusion, welcoming individuals from all backgrounds and experience levels. Our culture promotes transparency, respect, and the enrichment that comes from different perspectives, enabling us to build products that resonate with our members’ diverse needs.