Financial Risk Manager

Vermelo; United Kingdom; Hybrid; GBP 60,000 - 80,000; Full time

Benefits offered by this job

Flexible working

Strong independence and influence

Opportunity for career advancement

Job summary

A financial services group is seeking a Financial Risk Manager for a non-operational risk role, focusing on independent oversight and governance in financial risks. The position offers visibility with senior leadership and committees, emphasizing experience in a regulated environment, ideally within the insurance sector. Candidates will be responsible for supporting risk management frameworks, overseeing financial risks, and contributing to governance. Flexible working options are available within this established organization.

Qualifications

• Experience in a regulated environment, preferably within insurance or banking.
• Clear understanding of 2nd line risk responsibilities.
• Familiarity with the three lines of defence model.

Responsibilities

• Provide independent 2nd line oversight and challenge to financial risks.
• Support application of the Risk Management Framework.
• Oversight of credit, liquidity and market risks.
• Support delivery of ORSA activity and stress testing.
• Contribute to governance through risk committees.

Skills

Experience in 2nd line risk, financial risk or capital risk

Strong understanding of financial risks

Confidence providing independent challenge

Exposure to regulatory frameworks

Education

Professional qualifications in actuarial, risk or finance

Job description

Location: UK (hybrid if close to an office or remote)

Sector: Insurance or Financial Services

Function: Risk & Compliance – Second Line of Defence

Vermelo is partnering with a well-established, regulated financial services group to appoint a Financial Risk Manager into a 2nd line oversight role within their Risk & Compliance function.

This is a newly created position, offering broad exposure across financial risk, capital, ORSA and model risk, with genuine visibility at senior leadership and committee level.

The role

The core purpose of this role is to provide independent 2nd line oversight and challenge to the business in relation to financial risks. You will act as a key partner to 1st line Finance teams while maintaining clear separation and assurance responsibilities under the three lines of defence model.

Key responsibilities include:

• Providing 2nd line oversight and assurance of financial risks across the business
• Supporting the application of the Risk Management Framework, including risk identification, assessment, appetite setting and monitoring
• Oversight of credit, liquidity and market risks, and challenge of investment and capital decisions
• Supporting delivery of ORSA activity, including stress and scenario testing and validation of quantitative components
• Embedding and maintaining elements of the model risk management framework
• Contributing to governance through risk committees, finance forums, Board and ExCo papers
• Delivering deep-dive reviews and assurance activity on material financial risks

This is a non-operational risk role - the focus is on oversight, challenge, assurance and governance rather than owning 1st line delivery.

About you

We are keen to speak with candidates from Insurance or Banking who have operated in a regulated environment and clearly understand 2nd line risk responsibilities.

You are likely to bring:

• Experience in a 2nd line risk, financial risk or capital risk role
• Background in Insurance (preferred) or Banking / Financial Services
• Strong understanding of financial risks, capital, stress testing and risk appetite
• Exposure to regulatory frameworks (e.g. Solvency II, PRA / FCA or equivalent)
• Confidence providing independent challenge to senior stakeholders
• A clear grasp of the three lines of defence model

Professional qualifications such as actuarial, risk or finance credentials are advantageous, but relevant experience is equally valued.

Why apply?

• True 2nd line role with strong independence and influence
• Broad group exposure and senior stakeholder visibility
• Opportunity to shape and mature financial risk oversight
• Flexible working within a stable, regulated organisation