Head of Financial Market Risk

Convex; London; On-site; GBP 80,000 - 120,000; Full time

Job summary

An established industry player is seeking a Head of Financial Market Risk to oversee risk management for investment portfolios. In this pivotal role, you will lead a dedicated team, collaborate with senior leadership, and ensure robust risk management practices are implemented. Your expertise in financial risk leadership and investment fundamentals will be crucial in driving performance and fostering talent within the team. This position offers a competitive salary and a comprehensive benefits package, making it an exciting opportunity for those looking to make a significant impact in the financial sector.

Benefits

30 days Annual Leave

Birthday Leave

10% Employer Pension Contribution

Private Health Insurance

Group Income Protection

Life Assurance Cover

Enhanced Parental Leave

Annual Health Check

3 days of Volunteer Leave

Learning & Wellbeing Budget

Qualifications

• Extensive financial risk leadership experience in insurance or actuarial consulting.
• Deep understanding of investment fundamentals and risk management methodologies.

Responsibilities

• Lead and mentor a team of financial market risk professionals.
• Oversee risk reviews and provide strategic advice on investment portfolios.
• Develop and monitor liquidity stress testing frameworks.

Skills

Financial Risk Leadership

FIA/FFA, CFA Qualification

Analytical Skills

Team Management

Investment Fundamentals

Risk Management Methodologies

ALM and Investment Portfolios

Quantitative Risk Modelling

Stochastic Risk Models

Education

FIA/FFA, CFA Qualification

Tools

ALGO

Job description

Head of Financial Market Risk

Department: Risk

Employment Type: Permanent

Location: London, UK

Description

In your position as Head of Financial Risk, you own the risk oversight of the Group’s investment portfolios and manage any financial risks arising from the business, specifically in regard to market, credit and liquidity risks. Reporting to the Group Chief Risk Officer, you lead the Financial Market Risk team and collaborate closely with other Risk Pillars, including Enterprise Risk, Insurance Risk, and the entity Chief Risk Officers. In addition, you will work closely with senior leadership, including the Investment team, the Finance team, and the Actuarial team, to ensure robust 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.
• Attend the Capital and Liquidity Committee, Group Executive Risk Committee and Board Investment Committee to discuss / provide risk opinions on relevant financial risk matters.
• Lead and oversee the review of economic scenario generators.
• Oversee and drive risk reviews and provide strategic advice on sign-offs on any expansions or significant variations to existing portfolios, including new investment products and due diligence on new investment managers.
• Engage with internal and external investment managers to share market insights and risk assessments.
• Drive the review and validation of liability-based benchmarks for use at the Group level and entity level.
• Take ownership of the validation of market and credit risk parameters for use in capital modelling.
• Lead and drive the provision of both quantitative and qualitative review of risk on a regular basis, including deep-dives.
• Lead and own the production of financial risk reports in line with the group and entity risk frameworks and investment guidelines, including provision of forward-looking risk commentary.
• Be responsible for reviewing risk-based assumptions within the investment plan.
• Develop, drive, and monitor liquidity stress testing and the group’s liquidity risk framework.
• Own the development and maintenance of a comprehensive stress and scenario testing framework.
• Lead contributions to the GSSA/ORSA reporting process from a market, credit, and liquidity risk perspective, including stress and scenario testing.
• Be responsible for building and maintaining strong relationships with key stakeholders, ensuring alignment with the Group's risk management strategy.

Skills Knowledge and Expertise

• Extensive financial risk leadership experience in the context of an insurance company or actuarial consulting.
• FIA/FFA, CFA qualification or equivalent.
• Self-starter attitude and ability to work within ambiguity; flexibility and proven ability to diagnose and resolve issues and strong analytical skills.
• Proven leadership and team management experience, with a track record of driving performance and fostering talent.
• Deep understanding of investment fundamentals, asset classes, sectors, and principles behind deriving both systematic and non-systematic risk.
• Robust understanding of risk management methodologies such as Value-at-risk (VaR).
• In-depth experience in ALM and investment portfolios/strategies within Insurance.
• Well-rounded understanding of risk-based economic and capital models including Solvency II.
• Significant experience with quantitative risk modelling, ideally combined with practical experience using stochastic risk models.
• Prior experience of using ALGO is an advantage.

Benefits

• Competitive Salary
• 30 days Annual Leave
• Birthday Leave
• 10% Employer Pension Contribution
• Private Health Insurance Medical Cover
• Group Income Protection
• Life Assurance Cover
• Enhanced Parental Leave
• Annual Health Check
• 3 days of Volunteer Leave each year
• 10 days of help with care (elder/ childcare) through Bright Horizons
• £1,300 to spend on learning & wellbeing
• Give as You Earn
• Cycle to Work
• Season Ticket Loan