Risk Analyst

Hiscox Underwriting Group Services Ltd (HUGS); City Of London; Hybrid; GBP 55,000 - 75,000; Full time

Benefits offered by this job

Hybrid working

Job summary

Hiscox Underwriting Group Services Ltd (HUGS) in the City of London is recruiting a Risk Analyst to join Hiscox UK Risk & Compliance. You will perform and support second line risk management activities to maintain our Risk Management Framework and work with first line teams to provide oversight and challenge.

You will interact with the UK Chief Risk Officer and the Group Risk and Compliance Department, developing as a risk professional while contributing to risk governance and regulatory

Qualifications

• Understanding of key enterprise risk management techniques and related good practice.
• Experience in insurance or financial services.
• Risk experience from external/internal audit, compliance or consultancy roles considered.
• Strong analytical skills to turn data into insights.
• Excellent communication and stakeholder management with ability to challenge senior colleagues.

Responsibilities

• Support the Risk & Control Self-Assessment (RCSA) process with testing and tracking actions.
• Analyse risk data trends across events, KRIs, and RCSA results to inform decisions.
• Prepare papers for Board and Executive Risk Committees.
• Provide second line oversight and challenge in stakeholder meetings.
• Assist with ORSA activities and coordinate the ORSA Report.
• Lead emerging risk analysis for Hiscox UK and monitor external developments.
• Help enhance risk culture by delivering training and awareness activities.
• Keep up-to-date with regulatory developments impacting Hiscox UK.

Skills

Risk management

Data analysis

Stakeholder management

Regulatory knowledge

Communication

Tools

Power BI

Excel

Job description

Job Details

Job Type: Permanent

Position: Risk Analyst, UK

Reporting to: Senior Risk Manager, UK

Type: Full time, permanent

Band: I

Role

This multi-faceted role offers an exciting opportunity to join Hiscox’s "UK Risk and Compliance team" and develop as a risk professional. You will play an important role in the team performing and supporting second line risk management activities to maintain and enhance Hiscox Risk Management Framework processes in Hiscox UK (our Retail business unit in the UK). You will develop collaborative working relationships by providing oversight, challenge and support to relevant first line teams in Hiscox UK. The role will also have frequent exposure to the UK Chief Risk Officer and the broader Group Risk and Compliance Department.

What you will be doing as a Risk Analyst

• Provide support with the completion of the Risk & Control Self-Assessment (RCSA) process, including control testing and tracking of any management actions identified.
• Analyse data to identify trends, themes and emerging issues across risk data (e.g. operational risk events, Key Risk Indicators and RCSA results), and present clear insights to support decision-making.
• Preparation of papers and documents to be discussed at Board level and Executive level Risk Committees and forums.
• Support in providing second line oversight and challenge, including in stakeholder meetings.
• Complete or provide support to deliver both planned and 'ad hoc' second line risk reviews.
• Provide support on the performance of Own Risk and Solvency Assessment (ORSA) activities and leading co-ordination of the ORSA Report.
• Lead emerging risk analysis for Hiscox UK (including considering external environment developments and trends).
• Help to enhance risk culture through performing first line risk management training and awareness activities.
• Stay abreast of regulatory developments in respect of risk management considering the implications for Hiscox UK.
• Provide assistance to compliance team members when necessary, to help with the management of regulatory risk.

What are we looking for

• Understanding of key enterprise risk management techniques and related common good practice.
• Experience of working in an insurance company / financial services organisation.
• Risk experience obtained through external / internal audit, compliance or consultancy roles will also be considered.
• Strong analytical skills, with the ability to gather, cleanse and interpret data from multiple sources and turn it into meaningful conclusions and insights.
• Ability to diagnose an issue, consider options and approaches and propose solutions seamlessly.
• Strong communication and stakeholder management skills, with the ability to influence people at all levels and provide confident, constructive challenge to senior colleagues; able to work independently and as part of a team, and open to feedback.
• Excellent use of Microsoft Office (Excel, Word, PowerPoint), including strong Excel skills (e.g. pivot tables, lookups and formulas); experience of data visualisation tools such as Power BI would be an advantage.
• Knowledge of financial services regulation (PRA and FCA) would be highly advantageous but not essential.
• Ability to multi-task effectively, to prioritise work, meet deadlines, achieve goals, and work in a dynamic and complex environment.
• Enthusiastic, creative and proactive in approach to workload and areas of responsibility, actively seeking better ways of doing things.

About Hiscox

As an international specialist insurer we are far removed from the world of mass insurance products, selectively focusing on key areas of expertise and strength, all of which is underpinned by a culture that encourages us to challenge convention and always look for a better way. Defined by our strong moral fibre we prioritise above all else the principle of doing what we say we will. Insuring the unique and interesting, our search for talent is the same. We empower our people to think creatively, challenge the status quo and approach things with a solutions focused lens. This results in us being able to provide the type of insurance solutions which are often too complex for other insurance companies, we find a way where others give up. Our straight talking culture is not for everyone but allows us to strive to improve everything we do and never settle.

Trust is integral to how we operate and it allows us to work in an environment where every role has a high level of autonomy; freedom to forge your path and help set the wider agenda is evident in all parts of the organisation. Through embracing an environment that brings together people who are unique and interesting we are ensuring we build a company where teams don’t all think the same – this, combined with a culture where courage to say what you think is not only actively encouraged but is central to our business model has defined our success.

Diversity & Benefits

We hire the best people for the job and we’re committed to diversity and creating a truly inclusive culture, which we believe drives success.

Working life doesn’t always have to be in the office, so we have introduced hybrid working to encourage a healthy work life balance. This hybrid working model is set by the team rather than the business to enable you to manage your own personal work-life balance. We see it as the best of both worlds; structure and sociability on one hand, and independence and flexibility on the other.