Risk Officer

Hiscox SA; London; On-site; GBP 50,000 - 90,000; Full time

Job summary

An established industry player is seeking a Risk Officer to join their dynamic team in London. This role offers a unique opportunity to influence risk decision-making within a collaborative environment. You will be responsible for embedding a comprehensive Risk Management Framework and supporting various legal entities. The ideal candidate will possess strong quantitative and analytical skills, alongside a deep understanding of risk management practices in the insurance sector. Join a forward-thinking company that values creativity and innovation, fostering a culture where diverse perspectives are celebrated and personal growth is encouraged.

Benefits

Health and Wellness Programs

Flexible Working Hours

Professional Development Opportunities

Diversity and Inclusion Initiatives

Qualifications

• Strong quantitative and analytical skills in risk management or related field.
• Familiarity with insurance regulatory regimes like Solvency II.

Responsibilities

• Support risk reviews and provide quantitative and qualitative insights.
• Collaborate with teams to enhance risk management practices.

Skills

Quantitative Skills

Analytical Skills

Risk Management

Communication Skills

Critical Thinking

Negotiation Skills

Time Management

Education

Degree in Risk Management or Related Field

Actuarial Qualifications

Job description

Reporting to the London Market, Re and ILS CRO

London based with Hybrid working

The role

Reporting to the Hiscox Syndicates Limited Chief Risk Officer, this role offers an exciting opportunity for a risk professional to join Hiscox’s London Market and Re & ILS (‘Big Ticket’) Risk and Compliance team.

Working as a Risk Officer, you will be responsible for embedding Hiscox Group’s Risk Management Framework into the Hiscox Commercial businesses and supporting legal entity risk management for Hiscox’s Lloyd’s syndicate, Bermuda based Reinsurance entity and Guernsey based commercial insurer. Critical to success will be developing meaningful, collaborative business working relationships to influence, challenge and verify risk decision-making in order to proactively manage risk. The role offers the opportunity to become a risk management thought leader through close engagement with the wider Group Risk and Compliance function.

The team

The ‘Big Ticket’ Risk and Compliance team is responsible for delivering advice, insights and credible, effective challenge to Hiscox’s Big Ticket businesses including London Market and the Reinsurance & ILS businesses. The team produces high profile reporting that is seen by Executives, Boards and Risk Committees. In some instances this reporting is also provided to regulators.

What you’ll be doing as Risk Officer:

• Develop a keen understanding of risks to Hiscox’s Commercial businesses; staying abreast of risk issues and regulatory requirements, trends and implications.
• Bring quantitative expertise and an understanding of the commercial landscape to provide effective second line engagement and challenge.
• Support second line risk reviews providing quantitative and qualitative insights as part of providing effective business oversight and challenge.
• Collaborate with the Risk Actuarial team to carry out second line reviews of material changes in legal entities’ risk profiles.
• Support the Own Risk and Solvency Assessment (ORSA) process and the preparation of the ORSA report for key entities within the Hiscox Group.
• Support the Risk & Control Self Assessments (RCSA) process and the ongoing enhancements to the control landscape.
• Foster a strong risk culture and hold first line owners to account for addressing key risk and control issues.
• Support the preparation of Board/Risk Committee packs and key deliverables to regulators.

What we are looking for:

Technical Experience

• Strong quantitative and analytical skills, experienced preferably in risk management or a related field (e.g. actuarial) within a General Insurance company.
• Familiarity with insurance regulatory regimes (e.g. Solvency II).
• Experience of General Insurance company operations including business model, profitability drivers, underwriting, business processes and risk management practices.
• Strong understanding of control environments and ability to assess and challenge risk and control assessments.

Other Skills

• Ability to multi-task, prioritise work, meet deadlines and achieve goals.
• Critical thinking to be able to assimilate information, quickly diagnose an issue, consider options and approaches and implement robust and commercial solutions.
• Ability to navigate ambiguity, controversy or a lack of familiarity to drive forward solutions.
• A great communicator with the ability to combine persuasion and negotiation skills with leadership and influencing qualities to encourage stakeholders to positively respond to questions, inquiries and requests.
• Demonstrates a clear and continuous desire to for self- improvement and asks questions of others to gain new knowledge.

About Hiscox

As an international specialist insurer we are far removed from the world of mass market insurance products. Instead we are selective and focus on our 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 of doing things.

We insure the unique and the interesting. And we search for the same when it comes to talented people. Hiscox is full of smart, reliable human beings that look out for customers and each other. We believe in doing the right thing, making good and rebuilding when things go wrong. Everyone is encouraged to think creatively, challenge the status quo and look for solutions.

Scratch beneath the surface and you will find a business that is solid, but slightly contrary. We like to do things differently and constantly seek to evolve. We might have been around for a long time (our roots go back to 1901), but we are young in many ways, ambitious and going places.

Diversity and Hybrid working

At Hiscox we care about our people. 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.

We have also learned over the past few years that working life doesn’t always have to be in the office, and now it is safe to do 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.

Apply now for further information

You can follow Hiscox on LinkedIn, Glassdoor and Instagram (@HiscoxInsurance)

Why work here?

If you want to help build a brilliant future; work with amazing people; be part of a unique company culture; and, of course, enjoy great employee benefits that take care of your mental and physical wellbeing, come and join us.

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About us

We’re a global, specialist insurer headquartered in Bermuda and listed on the London Stock Exchange. With 3,000 employees and 32 offices in 12 countries we’re a business with lots of opportunity for people with talent, spark and lots of ambition. If you want to build a great career with a company that prioritises strong values – such as integrity and courage – where our people always pull together to do the right thing for each other and our customers, then we’d love to hear from you.