ERM Risk Manager

ZipRecruiter; London; On-site; GBP 50,000 - 70,000; Full time

Job summary

A leading company in the insurance sector is seeking a Risk Manager in London. This role involves enhancing the risk management framework, analyzing risk control environments, and participating in significant risk projects. Candidates should have 3-5 years of experience in the insurance field, particularly within the London Market, along with a relevant degree.

Qualifications

• 3 to 5 years of experience in insurance or related field.
• Knowledge of risk management regulatory principles.
• Strong time and project management skills.

Responsibilities

• Support the implementation of the risk management framework.
• Assist in analyzing and monitoring risk control environments.
• Participate in risk assessments and report through dashboards.

Skills

Analytical skills

Project management

Communication

Education

Bachelor’s degree in Risk Management

Business Administration

Economics

Job description

Job Description

POSITION: Risk Manager

ASSIGNMENT NO: 28776

LOCATION: London

Job Summary:

As Risk Manager within the London P&C Risk Management team, directly reporting to the UK P&C Chief Risk Officer and closely collaborating with senior team members, you will proactively support the implementation and continuous improvement of the risk management framework for the UK, Europe and the Syndicate in all risk activities in accordance with the defined Enterprise Risk Management (ERM) framework whilst meeting all regulatory and commercial expectations. This includes assisting the team in the coordination of control environment assessment and monitoring, to meet internal and external requirements in a timely manner.

In this role you will furthermore assist the CRO and team to ensure that the risk management activities are appropriately interlinked with the relevant business and decision-making processes in order to further spread the risk culture across the organization.

In addition, you will participate in Group Risk Management projects and analysis spanning various topics, in collaboration with other Risk colleagues from international teams. You might also help other legal entities as needs arise.

Key duties and responsibilities:

Risk management framework and analyses:

• In conjunction with our central Operational Risk team, assist the team in analyzing, assessing and monitoring the risk control environment and processes, to meet internal (control systems, …) and external (regulatory…) requirements for the entities supported by the London P&C Risk Management team as well as other entities. Develop associated documentation, building dashboards and management information using data analytics .
• Assist the team’s management in partnering the business in effective design of key controls to mitigate critical risks, as well as challenge the evidencing and operational effectiveness as well as risk owners’ self-assessments, to ensure operational effectiveness of the control environment and promote risk culture in cross-functional areas.
• Assist relevant business areas/risk owners in the development of key risk indicators to identify and evaluate operational risks and monitor exposures against appetite.
• Participate in risk assessments, as well as reporting via risk registers or dashboards.
• Assist the team in coordinating the development of operational risk and other scenarios to feed into the entities’ models, in coordination with other Risk Management teams and other transverse functions.

Risk reporting and governance:

• Assist the team’s management in preparing and explaining materials for internal risk decisions by senior management and board (and the relevant committees).
• Contribute to external risk reporting and communication to auditors, regulators, supervisory authorities as requested.
• These activities will be conducted in cooperation with other teams e.g. Operations, Finance.

Other ad-hoc and specific duties:

• Participate in local/P&C/global risk projects and analyses and communicate qualitative and quantitative results effectively, eventually developing a competence and expertise on specific risks.
• Assist the team in the identification, assessment and monitoring of emerging risks and trends to ensure these are addressed within the organization (management, risk owners, etc).
• Contribute to ERM trainings and communication for further spreading risk culture within the organization.
• In coordination with other Risk Management teams, support the enhancement and alignment of risk policies, processes and reporting in order to ensure consistency and allow for aggregation at the various levels of the Group.

Required experience & competencies:

Experience:

• 3 to 5 years of hands-on working experience in insurance or related field (ideally within Property & Casualty commercial lines (re)insurance, particularly the London Market/Lloyd’s). Knowledge of risk management regulatory principles (including, internal control systems, standards and practices of operational risk management).

Personal Competencies and Skills:

• Strong analytical and challenge capabilities as regards reinforcing internal controls.
• Well organized and efficient with strong time and project management skills. A team player with ability to deliver results for review in a timely manner, being proactive in managing deadlines including management of dependencies on others, with strong sense of accountability and high quality of outputs presented for review.
• Able to handle and analyze risk and control data, building or enhancing tools for proper management information.
• Self-motivated to learn and identify areas for further self-development as well as to actively share knowledge.
• Build strong relationships within risk management and other functions, locally and across the Group and the P&C business unit.
• Strong written and verbal skills, concise and accurate communication with stakeholders, focusing on key issues and mitigations.

Required Education:

• Bachelor’s degree or higher in Risk Management, Business Administration. Economics, or related field, or equivalent qualifications.