Risk Manager - Insurance & Financial Risk - 12 Month FTC

Beazley Group; Greater London; Hybrid; GBP 100,000 - 120,000; Full time

Benefits offered by this job

401(k) plan with 5% company match

26 weeks paid parental leave

Flexible working policy

Office lunch provided

Home office setup reimbursement

Job summary

Beazley Group in London is seeking a Risk Manager to support insurance and financial risk activities focused on the North American platform. You will write risk reports, contribute to ORSA work, and review underwriting and business planning within first-line processes.

The role also involves risk appetite work, risk opinions, and collaboration with Global risk teams, Compliance and Internal Audit to strengthen the Beazley North America risk framework while building stakeholder relationships.

Qualifications

• Experience in providing risk challenge to the first line and presenting risk analysis to stakeholders.
• Knowledge of US statutory accounting principles and NAIC regulatory requirements.
• Experience in insurance/financial risk management including capital modelling, reserving and pricing.

Responsibilities

• Provide challenge of Beazley's first line processes around insurance and financial risk, including reserving, pricing, capital modelling, business planning, underwriting, outwards reinsurance, exposure management and investments.
• Support the delivery of the US ORSA and Bermuda CISSA, particularly those sections relating to insurance and financial risks.
• Performing the validation of the technical provisions, including setting the annual scope, performing the testing and producing reports.
• Produce risk reporting to Committees, Boards, stakeholders and regulators.
• Participate in risk management training for key stakeholders.
• Deliver risk opinions, reviews of key risks and hot topics influencing Beazley North America platform’s risk profile, to support reporting to internal and external stakeholders.
• Support the annual review of Beazley's risk appetite levels.
• Participate in governance over North American entity reserves and capital.
• Maintain strong stakeholder relationships with members of the first line, to help support Beazley's risk management framework.
• Investigate insurance and financial risk related risk incidents.
• Ensure close collaboration with the Global risk team’s insurance and financial risk managers, supporting their workload as appropriate.
• Support with the continued development of the wider risk management framework.

Skills

Risk management experience

Regulatory knowledge

Risk reporting

Job description

Job description and person specification

Job Title:

RiskManager - Insurance & Financial Risk - 12 Month FTC

Division:

Risk and Compliance

Reports To:

As per Beazley’s organisation chart

Key Relationships

Risk, Internal Audit,Compliance, Finance – Investments and Group Actuarial (incl.Capital Modelling, Reserving and Pricing), Ceded Reinsurance, Exposure Management, and Underwriting.

Job Summary

The role will support a range of risk management activities, with a particular focus on the North American platform’s insurance and financial risks. This will involve writing risk reports and analysis (including the US Own Risk and Solvency Assessment - ORSA), review and challenge of underwriting and statutory business planning, as well as product development and other first line processes (including through risk and control self-assessments - RCSAs), risk appetite, providing risk opinions on specific risk areas, supporting with technical provisions validation, as well as supporting the risk team with the delivery of the wider risk management framework.

Key Responsibilities

• Provide challenge of Beazley's first line processes around insurance and financial risk, including reserving, pricing, capital modelling, business planning, underwriting, outwards reinsurance, exposure management and investments. This should include supporting with RCSAs.
• Support the delivery of the US ORSA and Bermuda CISSA, particularly those sections relating to insurance and financial risks.
• Performing the validation of the technical provisions, including setting the annual scope, performing the testing and producing reports.
• Produce risk reporting to Committees, Boards, stakeholders and regulators.
• Participate in risk management training for key stakeholders.
• Deliver risk opinions, reviews of key risks and hot topics influencing Beazley North America platform’s risk profile, to support reporting to internal and external stakeholders.
• Support the annual review of Beazley's risk appetite levels.
• Participate in governance over North American entity reserves and capital.
• Maintain strong stakeholder relationships with members of the first line, to help support Beazley's risk management framework.
• Investigate insurance and financial risk related risk incidents.
• Ensure close collaboration with the Global risk team’s insurance and financial risk managers, supporting their workload as appropriate.
• Support with the continued development of the wider risk management framework.

General

It is important that within all your interactions both internally and externally you adhere to Beazley’s core values - Being Bold, Striving for Better, and Doing the Right Thing – as they contribute to an internal environment of teamwork and promote a positive brand image and experience to our external customers. We also expect Beazley employees to:

• Comply with Beazley procedures, policies and regulations including the code of conduct which incorporates the PRA and FCA Conduct.
• Undertake training on Beazley policies and procedures as delivered by your line manager, the People & Sustainability or assurance teams (compliance, risk, internal audit) either directly, via e-learning or the learning management system.
• Display business ethics that uphold the interests of all our customers
• Ensure all interactions with customers are focused on delivering a fair outcome, including having the right products for their needs.
• Comply with any specific responsibilities necessary for your role as outlined by your line manager, the People & Sustainability or assurance teams (compliance, risk, internal audit) and ensure you keep up to date with developments in these areas. This may include, amongst others, Beazley's underwriting control standards, Beazley's claims control standards, other Beazley standards and customer relationship management.
• Carry out additional responsibilities as individually notified, either through your objectives or through the learning management system. These may include membership of any Beazley committees or working groups.

Personal Specification

Essential Criteria

• Experience in insurance / financial risk management or working as a risk actuary would be an advantage for this position.
• Knowledge of US statutory accounting principles, National Association of Insurance Commissioners (NAIC), Connecticut Insurance Department and Bermuda Monetary Authority regulatory requirements related to certain insurance and financial risks, risk management and actuarial principles.
• Experience of providing challenge across any of the following areas would be an advantage: reserving, pricing, capital modelling, business planning, underwriting, outwards reinsurance, exposure management and investments.

Knowledge and Experience

• Experience in providing risk challenge to the first line and producing and presenting risk analysis to internal and external stakeholders.
• Interest in gaining a deeper understanding of insurance and financial risk management in the Lloyd’s / London Market.

Aptitude and Disposition

• Outcome focussed, self-motivated, agile and flexible
• Technically innovative, a problem solver and solution builder
• Professional approach to interact successfully with colleagues
• Able to work with multi-cultural and multi-location teams
• Ability to work closely in a team environment and develop productive working relationships
• Willingness to learn and achievement drive

Competencies

• Information seeking
• Problem solving
• Technical expert
• Time management
• Stakeholder management
• Influencing others
• Quality focused
• Initiative
• Customer focused
• Analytical thinking
• Team working

The Rewards US

• The opportunity to connect and build long-lasting professional relationships while advancing your career with a growing, dynamic organization
• Attractive base compensation and discretionary performance related bonus
• Competitively priced medical, dental and vision insurance
• Company paid life, and short- and long-term disability insurance
• 401(k) plan with 5% company match and immediate vesting
• 22 days PTO (prorated for 1st calendar year of employment), 11 paid holidays per year, with the ability to flex the religious bank holidays to suit your religious beliefs
• Up to $700 reimbursement for home office setup
• Free in-office lunch, travel reimbursement for travel to office, and monthly lifestyle allowance
• Up to 26 weeks of fully paid parental leave
• Up to 2.5 days paid annually for volunteering at a charity of your choice
• Flexible working policy, trusting our employees to do what works best for them and their teams

Salary for this role will be tailored to the successful individual’s location and experience. The expected compensation range for this position is $134,600-$161,520 per year plus discretionary annual bonus.

We are an equal opportunities employer and as such, we will make reasonable adjustments to our selection process for candidates that indicate that, owing to disability, our arrangements might otherwise disadvantage them. If you have a disability, including dyslexia or other non-visible ones, which you believe may affect your performance in selection, please advise us in good time and we’ll make reasonable adjustments to our processes for you.