Operational Resilience Risk and Testing Lead (12 month FTC)

Chaucer; London; On-site; GBP 50,000 - 80,000; Full time

Job summary

Chaucer is seeking a professional to lead the Operational Resilience Test Strategy across the group. This role involves maintaining compliance with regulations, enhancing testing methodologies, and collaborating with third parties to validate testing approaches. The ideal candidate will have proven experience in operational resilience testing and strong analytical skills.

Qualifications

• Proven experience in operational resilience testing.
• Knowledge of insurance or financial services industry is advantageous.
• Understanding of Operational Resilience regulations (e.g., UK PRA, CBI).

Responsibilities

• Maintain Operational Resilience Scenario Library and Test Plan.
• Document testing issues and implement corrective measures.
• Monitor and report on concentration risks.

Skills

Operational resilience testing

Test methodologies

Quantitative skills

Qualitative skills

Interpersonal skills

Analytical skills

Communication skills

Job description

Job profile summary

Responsible for the end-to-end Operational Resilience Test Strategy across Chaucer Group. Lead the operational risk assessments to ensure future viability of Chaucer’s business processes and adherence to Impact Tolerances.

Job Description

1. Maintain Chaucer’s Operational Resilience Scenario Library and Test Plan to ensure compliance with Impact Tolerances and Service Recovery Time Objectives for critical or important business services/functions, considering regulatory requirements.
2. Test tailored exit strategies for material third-party arrangements, reflecting service criticality.
3. Ensure robustness of recovery processes and resource availability, identifying improvements to prevent operational bottlenecks or vulnerabilities.
4. Document testing issues in the Remediation Tracker, implement corrective measures, and re-test to verify fixes.
5. Monitor and report on concentration risks related to people, technology, or resources, especially where multiple critical services are outsourced to a single provider.
6. Assess incidents and near misses across industries to enhance Chaucer’s testing approach.
7. Risk assess planned significant changes to the business, such as IT transformations, outsourcing, or scale changes, considering impact on policyholders.
8. Collaborate with third parties to validate scenario testing methodologies, scenarios, and considerations.
9. Utilize test results and incident data to improve Chaucer’s responsiveness to operational events.
10. Enhance the sophistication of operational resilience testing in depth and breadth beyond minimum requirements.
11. Align Chaucer’s Operational Resilience Framework and Risk Appetite with governance, enterprise risk, ICT risk, and third-party risk frameworks.
12. Coordinate with the Information Security Team to review frameworks, ensure vulnerability scanning, patch management, and malware eradication before system reconnection.

Regulatory responsibilities

• Support CSL and CIC Boards in maintaining a culture and policies that prioritize customer interests and fairness. Prepare and submit resilience test results, impact assessments, and self-assessments to boards and regulators.

Skills and Competencies

• Proven experience in operational resilience testing, including scenario and live tests.
• Experience in enhancing test methodologies, including third-party involvement.
• Knowledge of the insurance or financial services industry is advantageous.
• Understanding of Operational Resilience regulations (e.g., UK PRA, CBI, DORA, MAS).
• Quantitative skills for impact tolerance and KPI analysis.
• Qualitative skills for explaining results, remediations, and procedures.
• Familiarity with global Operational Resilience regulations.
• Attention to detail and professional integrity aligned with Chaucer’s values.
• Strong interpersonal, organizational, analytical, and communication skills, with experience managing senior stakeholders.

ABOUT US

Chaucer is a leading Lloyd’s insurance group, supporting industries worldwide against risks. Our clientele includes airlines, energy firms, shippers, manufacturers, and property groups.

Headquartered in London with international offices, we are committed to diversity, inclusion, and flexible working arrangements. Learn more on our website.