Insurance Risk Manager *FTC Until 31st December 2025*

Job Introduction

Insurance Risk Manager

Salary £65,000 - £70,000 per annum dependent on experience

FTC until 31st December 2025

Hybrid – London

As an Insurance Risk Manager you will lead as required in the development, implementation and oversight of the enterprise risk management framework for Saga Insurance. You will be responsible for coordinating the risk content for key reports including the Annual Report and Accounts, ORSA, SFCR and TC2.4.

Reporting to the Head of Prudential Risk, you’ll lead day-to-day business partnering activities, with particular focus on risk and control self-assessment activities, risk appetite statements, policy compliance and the maintenance of good organisational governance.

You’ll be responsible for ensuring there is an open and collaborative relationship across 1LOD, 2LOD and 3LOD teams. As well as providing 2LOD support, challenge and guidance to meeting Solvency II obligations.

This role has a hybrid nature, and ideally, we would see you once a week in our Kings Cross office in London.

Role Responsibility

As an Insurance Risk Manager, you will be responsible for supporting, overseeing, and reporting on the delivery of all aspects of the Enterprise Risk Management Framework across allocated functions.

• Define and document control procedures and processes for business areas, and oversight testing and monitoring to assess effectiveness.
• Identify control deficiencies and work with relevant teams to address and rectify them in a timely manner.
• Ensure the business complies with the requirements of the incident management framework, undertaking root cause analysis and other review techniques, to provide appropriate assurance and oversight.
• Ensure that the Insurance Risk Appetite Framework is embedded, with approved risk appetite statements, and supporting KRIs, which support senior management decision making and is regularly reviewed, updated and reported on.
• Ensuring business functions consider risk factors within decision making processes and outcomes. Identifying, developing and deploying appropriate risk management tools, techniques and strategies.
• Actively promoting a risk culture of care that encourages appropriate risk taking, aligned to strategy and risk appetite, with effective and timely response to risk.
• Ensuring management have a sound understanding of the Enterprise Risk Management Framework.
• Working closely with the Conduct Risk team to ensure Conduct Risk is sufficiently embedded providing senior management with the required level of assurance.
• Reviewing and maintaining delivery of appropriate risk governance, through the formation, attendance and participation in risk committees and other governance committees.
• Providing 2LOD review and challenge of risk reporting.
• Producing risk papers for all relevant Operating Entities.
• Supporting the monitoring of industry trends to benchmark ERM and track external best practices.
• Providing 2LOD reviews of key projects and products within the business to ensure positive customer and business outcomes.

The Ideal Candidate

As our Insurance Risk Manager, you would have a proven track record of working within GI risk management in a Solvency II regulated business (Insurance or Financial Services).

Experience with Solvency II is essential, and ideally, you will have a risk management qualification (CERA or IRM).

• Proven track record of working effectively through change with senior management.
• General Insurance risk management experience, including underwriting, pricing and claims management.
• Highly organised and methodical, with the ability to manage multiple tasks and deadlines, whilst working tight deadlines.
• Flexible approach, personable and able to embrace change.
• Demonstrable competence in writing clear and concise reporting and producing performance packs for senior management.
• Maintains discretion, confidentiality and professionalism.
• Positive outlook, with a solution-centric approach.
• Excellent communication skills across all business levels.
• The ability to foster a positive culture that prioritises good customer outcomes and shows high levels of engagement with the wider business.
• Ability to see the broader picture and recognise the effects of actions/problems on all areas of the business.

Package Description

Everyday our colleagues deliver exceptional experiences to our customers. We believe exceptional work deserves even more exceptional rewards, that's why we have put together an amazing benefits package for all colleagues.

BENEFITS AVAILABLE TO ALL COLLEAGUES:

• Our working week is 35 hours per week, these can be worked flexibly to suit your working style.
• 25 days holiday + bank holidays.
• Option to purchase additional leave up to 5 extra days.
• Pension scheme matched up to 10%.
• Colleague discounts including family discounts on cruises and holidays.
• Range of reductions and offers from leading retailers, travel groups and entertainment companies.
• Enhanced maternity and paternity leave.
• Grandparents leave.
• Company performance related annual bonus - Up to 5%.
• Income protection.
• Access to Saga Academy, our bespoke learning platform.

About the Company

Over the past 70 years we have become the UK's specialist provider of products and services to people aged over 50 in the UK. We’re one of the most recognised and trusted brands amongst UK consumers in this demographic, recognised for its high-quality products and exceptional standards of service. Our product portfolio includes cruises, holidays, insurance, personal finance products and our Saga Magazine.

We aim to be the most-trusted brand for older people in the UK. Our focus on delivering exceptional products and service empowers our colleagues to create moments that are personal and special for our customers and for each other. Our values underpin our approach and help guide us to deliver our purpose.

We’re committed to making sure that colleagues can be their best, be themselves and make a difference – more than anywhere else. We do this by creating a truly inclusive culture, where all colleagues can bring their full and authentic selves to work and be treated with dignity and respect in an environment that is free from discrimination and harassment.

Thanks to our people, Saga has been ranked 6th in the UK’s Best Employers 2025 by the Financial Times and Statista. This recognition, based on the voices of 20,000 employees across the UK, is a testament to the great culture we’ve built together. This award belongs to all our colleagues who collectively make Saga a fantastic place to work.

We are champions of age inclusivity and signatories of the Age-Friendly Employer Pledge, we are proud of our multigenerational teams we have in place. We’re also a committed Disability Confident employer and ensure that our recruitment process is inclusive and accessible.

Your application will have fair consideration, and you’ll receive personal communication throughout your applicant journey when you apply to join Saga.

Saga does not accept agency CVs unless specifically engaged on the role by the Talent Acquisition Team. Please do not forward CVs to our recruiters, employees or any other company location. Saga will not be responsible for any fees related to CVs received in this unsolicited manner.