Head of Financial Market Risk

Head of Financial Market Risk

Department: Risk

Employment Type: Permanent

Location: London, UK

Description

As Head of Financial Market Risk, you will oversee the risk management of the Group’s investment portfolios, focusing on market, credit, and liquidity risks. Reporting to the Group Chief Risk Officer, you will lead the Financial Market Risk team and collaborate with other Risk Pillars, including Enterprise Risk, Insurance Risk, and Chief Risk Officers of various entities. You will also work closely with senior leadership, including Investment, Finance, and Actuarial teams, to ensure effective risk management practices are in place.

Key Responsibilities

• Lead, mentor, and develop a team of financial market risk professionals, fostering a culture of excellence and continuous improvement.
• Participate in the Capital and Liquidity Committee, Group Executive Risk Committee, and Board Investment Committee to provide risk insights on relevant financial matters.
• Review economic scenario generators and oversee risk assessments related to them.
• Review and approve expansions or significant changes to portfolios, including new investment products and managers.
• Engage with investment managers to share market insights and risk evaluations.
• Validate liability-based benchmarks at group and entity levels.
• Validate market and credit risk parameters used in capital modeling.
• Conduct regular quantitative and qualitative risk reviews, including detailed deep-dives.
• Produce financial risk reports aligned with risk frameworks and investment guidelines, including forward-looking commentary.
• Review risk assumptions within the investment plan.
• Develop and monitor liquidity stress testing and risk frameworks.
• Maintain a comprehensive stress and scenario testing framework.
• Contribute to GSSA/ORSA reporting from a risk perspective, including stress testing.
• Build and maintain stakeholder relationships to ensure alignment with risk strategies.

Skills, Knowledge, and Expertise

• Extensive leadership experience in financial risk within insurance or actuarial consulting.
• Qualifications such as FIA/FFA, CFA, or equivalent.
• Proactive, adaptable, with strong analytical and problem-solving skills.
• Proven leadership and team management capabilities.
• Deep understanding of investment fundamentals, asset classes, and risk principles.
• Knowledge of risk management methodologies like VaR.
• Experience with ALM, investment portfolios, and strategies in insurance contexts.
• Understanding of risk-based economic and capital models, including Solvency II.
• Practical experience in quantitative risk modeling, preferably with stochastic models.
• Experience with ALGO is advantageous.

Benefits

• Competitive Salary
• 30 days Annual Leave
• Birthday Leave
• 10% Employer Pension Contribution
• Private Health Insurance
• Group Income Protection
• Life Assurance
• Enhanced Parental Leave
• Annual Health Check
• Volunteer Leave (3 days/year)
• Care Support (£1,300 annually)
• Give as You Earn
• Cycle to Work
• Season Ticket Loan