Head of Insurance and Underwriting Risk

Canopius; Greater London; Hybrid; GBP 80,000 - 120,000; Full time

Job summary

A leading global specialty insurer in London seeks a dynamic risk leader to oversee underwriting risk and lead the ORSA process. The ideal candidate will have a strong analytical background and extensive experience in risk governance within the insurance sector. This role requires shaping risk frameworks and collaborating with senior stakeholders. A comprehensive benefits package is offered, including hybrid working, a competitive salary, and health insurances.

Benefits

Hybrid working

Competitive base salary

Non-contributory pension

Health insurance

Dental cover

Discretionary bonus

Qualifications

• 5+ years of experience in risk leadership and model governance.
• Proven experience in 2nd-line risk in property/casualty or life.
• Experience in PRA-regulated organizations is advantageous.

Responsibilities

• Provide second-line oversight across underwriting risk.
• Lead Own Risk & Solvency Assessment (ORSA) process.
• Influence strategic decisions inside Risk Committees.

Skills

Risk leadership

Financial analysis

Data interpretation

Communication skills

Team leadership

Analytical thinking

Education

Bachelor's degree in Numerical / Analytical discipline

Professional qualifications (FIAA, FIA, CERA, ACII, MBA)

Tools

Statistical tools (R, Python, SQL)

Job description

The Role

Canopius is seeking a dynamic risk leader to join our Group Risk team. This pivotal role will provide second‑line oversight and challenge across underwriting risk, model governance, validation, ORSA, and risk appetite development. You’ll shape risk frameworks, influence strategic decisions, and ensure robust governance in a fast‑paced, global insurance environment.

Responsibilities

Risk Framework & Oversight

• Provide 2nd‑line challenge of underwriting, reserving, pricing, capital modelling, reinsurance, and exposure
• Oversee development, validation, and governance of internal models (ICM, stochastic, catastrophe)
• Articulate and monitor risk appetite and key metrics across the portfolio
• Conduct capital, stress & scenario testing, economic capital analysis

ORSA Leadership

• Lead Own Risk & Solvency Assessment (ORSA) process, driving insurer‑wide engagement and board‑ready output
• Build and publish ORSA risk opinions, deep dives, trend analysis for senior committees

Reporting & Stakeholder Engagement

• Report key metrics, capital outcomes, model limitations, and exposures to Group, Board, and Risk Committees
• Provide risk expertise & challenge across divisions: underwriting, actuarial, finance, exposure, reinsurance
• Collaborate with Finance/Actuarial to ensure alignment on assumptions and capital modelling

Team Leadership & Capability Development

• Lead a cross‑functional team covering model risk, validation, underwriting risk, ORSA, and model governance
• Coach direct reports and build 2nd‑line skills in model challenge, validation, and strategic risk thinking
• Shape risk culture, ensuring consistent application of risk appetite and governance standards

Regulatory & Governance Compliance

• Ensure compliance with Solvency II/ORSA, CBEs, IST, and internal model standards
• Prepare for internal and external audits of assumptions, model validations, risk framework, committees

Strategic Input & Change Leadership

• Influence strategic decisions inside Risk Committees and Group Leadership
• Analyse emerging risks, industry trends, competitor performance to refine risk appetite
• Support transformation initiatives related to pricing, reserving, model enhancements, or MGA delegations

Skills

• Bachelor's degree in Numerical / Analytical discipline
• Advanced degrees or professional qualifications (FIAA, FIA, CERA, ACII, MBA) preferred
• Relevant certification/experience in model governance or validation programmes
• Proven experience in 2nd‑line risk, model governance, or validation in property/casualty, life or reinsurance
• Own Risk & Solvency Assessment leadership with stakeholder management capability
• Solid financial/actuarial background including capital modelling (internal and regulatory)
• Extensive risk experience, with developed management capabilities
• Experience in PRA‑regulated organizations with knowledge of SMF, SOLVENCY II, COBS, CBEs
• Experience working with Lloyd's, MGAs, reinsurers is advantageous
• Advanced knowledge of capital models (e.g. Moses, RiskAgility) and statistical tools (R, Python, SQL)
• Strong financial analysis and data interpretation capability
• Skilled in presenting and challenging complex financial and risk topics to senior stakeholders
• Track record of managing and developing teams in multi‑disciplinary environments
• Strong leadership presence with ability to influence Board‑level executives
• Excellent interpersonal, written and verbal communication skills
• Detail‑oriented, proactive, and collaborative working style

Competencies

• Leading Change Plans, implements and embeds organisational changes across the region and guides stakeholders through changes to processes, technologies, systems, or strategies, ensuring changes are successful and well received.
• Leading Teams Motivates, guides and empowers others to collectively meet current and future business needs. Sets clear performance expectations and utilises team members’ capacity, skills and potential effectively.
• Stakeholder engagement Cultivates and maintains positive relationships with relevant internal or external stakeholders, effectively involving and communicating with them to drive collaboration, support, and alignment towards shared goals.
• Collaboration And Teamwork Works effectively with team, project or other work groups or those outside formal line of authority to accomplish goals. Actively participates as a member of a team; develops and builds cohesive team relations to produce required outputs; possesses knowledge and understanding of colleagues work.
• Adapting To Change Adjusts thoughts, feelings, and behaviours to handle new, challenging, or complex situations; embracing change as a growth opportunity when working within new work structures, processes, regulations, or requirements.
• Continuous Improvement Analyses current and future state business requirements and identifies strategies to continuously improve products, services or processes. Guide and inspire others to achieve results to enhance efficiency, quality and consistency.
• Innovation Creates, develops and implements new ideas to enhance new or improved processes, systems, solutions, products or services; tries different and novel ways to deal with problems and opportunities.
• Resilience The ability to cope with and recover from setbacks, challenges or difficulty. Persevering even under pressure or crisis situations and uses ways that foster strength and growth, often emerging stronger than before.
• Future Focused Anticipates changes in regulations, technology and client needs, proactively responding to key trends happening in the industry. Thinks about the future through identifying opportunities and obstacles whilst planning effectively.

Our Benefits

We offer all employees a comprehensive benefits package that focuses on their whole wellbeing. This includes hybrid working, a competitive base salary, non‑contributory pension, discretionary bonus, insurances including health (family) and dental cover, and many other benefits to enhance financial, physical, social and psychological health.

About Canopius

Canopius is a global specialty lines (re)insurer. We are one of the leading insurers in the Lloyd’s of London insurance market with offices in the UK, US, Singapore, Australia and Bermuda.

At Canopius we foster a distinctive, positive culture which enables us to bring our whole selves to work to flourish as people, and build a business which delivers profitable, sustainable results.

Based in incredible new offices in the heart of the City of London, Canopius operates a flexible, hybrid working model and is committed to providing an environment that challenges employees to be their best and where everyone's unique contributions are recognised, valued and respected.

We are fully committed to equal employment opportunities for all applicants and providing employees with a work environment free of discrimination and harassment. All employment decisions are made regardless of age, sex, gender identity, ethnicity, disability, sexual orientation, socio‑economic background, religion or beliefs, marital or caring status, or any other status protected by the laws or regulations in the locations where we operate. We encourage and welcome applicants from all diverse backgrounds.

We make reasonable adjustments throughout the recruitment process and during employment. Please let us know if you require any information in an alternate format or any other reasonable adjustments.