Insurance Risk Manager

Barclays; London; On-site; GBP 150,000 - 200,000; Full time

Job summary

An established industry player is seeking a skilled Insurance Risk Manager to lead the management of corporate and standalone insurance programs. This pivotal role involves working closely with brokers and the market to drive down insurance costs while enhancing operational risk coverage. The ideal candidate will possess a strong background in corporate risk management, with a focus on stakeholder engagement and legal understanding. Join a dynamic team dedicated to identifying and mitigating risks, ensuring the bank's financial stability, and fostering a culture of excellence and integrity. If you're ready to make a significant impact in a fast-paced environment, this opportunity is for you.

Qualifications

• Experience in corporate risk management and managing global risk exposures.
• Good working knowledge of major heads of cover and captive utilisation.

Responsibilities

• Support the Risk Function in safeguarding financial and operational stability.
• Manage the risk department and oversee risk colleagues' performance.

Skills

Corporate Insurance

Stakeholder Management

Legal Understanding

Analytical Skills

Risk Management

Change Management

Job description

Role Overview

As a Barclays Insurance Risk Manager, you will be responsible for the management and execution of assigned global corporate and standalone insurance programmes, working with selected brokers and the market direct. A good working knowledge of major heads of cover, captive utilisation, and broader forms of risk financing is required. The focus of the team is to drive down the unit cost of insurance while simultaneously increasing the area of operational risk insured. Experience in corporate risk management and/or related industry experience with an emphasis on managing global risk exposures is essential.

To be successful as an Insurance Risk Manager, you should have experience with:

• Corporate Insurance or Technical Insurance.
• Stakeholder Management.
• Understanding of Legal.

Some other highly valued skills may include:

• Inquisitive mind-set.
• Analytical understanding.
• Working knowledge of Captives.

Key Critical Skills:

You may be assessed on key critical skills relevant for success in this role, such as risk and controls, change and transformation, business acumen, strategic thinking, and digital and technology, as well as job-specific technical skills.

Location

This role will be based out of London.

Purpose of the Role

To support the Risk Function in delivering its objective of safeguarding the bank's financial and operational stability by proactively identifying, assessing, mitigating, and monitoring risks across various business units and activities.

Accountabilities

• Development of strategic direction for risk, including the implementation of up-to-date methodologies and processes.
• Management of the risk department, including oversight of risk colleagues and their performance, implementation of risk priorities and objectives, and oversight of department efficiency and effectiveness.
• Relationship management of risk stakeholders, including identifying relevant stakeholders and maintaining the quality of external third-party services.
• Adherence to the Risk policy, standards, and frameworks, and maintaining a robust control environment.

Vice President Expectations

• Contribute or set strategy, drive requirements, and make recommendations for change. Plan resources, budgets, and policies; manage and maintain policies/processes; deliver continuous improvements and escalate breaches of policies/procedures.
• If managing a team, define jobs and responsibilities, plan for the department’s future needs and operations, counsel employees on performance, and contribute to employee pay decisions/changes.
• If the position has leadership responsibilities, demonstrate a clear set of leadership behaviours to create an environment for colleagues to thrive and deliver to a consistently excellent standard.
• As an individual contributor, be a subject matter expert within your discipline and guide technical direction. Lead collaborative, multi-year assignments and guide team members through structured assignments.
• Advise key stakeholders, including functional leadership teams and senior management on functional and cross-functional areas of impact and alignment.
• Manage and mitigate risks through assessment, in support of the control and governance agenda.
• Demonstrate leadership and accountability for managing risk and strengthening controls in relation to the work your team does.
• Collaborate with other areas of work for business-aligned support areas to keep up to speed with business activity and strategies.
• Create solutions based on sophisticated analytical thought comparing and selecting complex alternatives.
• Seek out, build and maintain trusting relationships and partnerships with internal and external stakeholders to accomplish key business objectives.

All colleagues will be expected to demonstrate the Barclays Values of Respect, Integrity, Service, Excellence, and Stewardship. They will also be expected to demonstrate the Barclays Mindset – to Empower, Challenge, and Drive.