Senior Associate, Financial Risk

Lloyd's; London; On-site; GBP 60,000 - 90,000; Full time

Job summary

Lloyd’s, a leading insurance marketplace, seeks a Senior Associate in Financial Risk to manage key capital processes and internal risk models. The successful candidate will enhance Lloyd’s solvency position and support strategic objectives. This role involves strong stakeholder engagement and oversight of financial risk management.

Qualifications

• Experience with Solvency II and UK insurance regulation trends.
• Ability to apply technical actuarial knowledge effectively.
• Understanding of the insurance industry and Lloyd’s market.

Responsibilities

• Lead the appropriate management and oversight of the Internal Model.
• Coordinate Stress and Scenario Testing to support regulatory exercises.
• Produce risk opinions to support decision-making by senior stakeholders.

Skills

Stakeholder management

Risk management frameworks

Knowledge of UK insurance regulation

Teamwork

Excellent relationship management

Education

Qualified actuary

Job description

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Client:

Lloyd's

Location:

London, United Kingdom

Job Category:

Other

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EU work permit required:

Yes

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Job Reference:

e0e44ccae5f2

Job Views:

4

Posted:

02.06.2025

Expiry Date:

17.07.2025

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Job Description:

Lloyd’s is the world’s leading insurance and reinsurance marketplace. We share the collective intelligence and risk sharing expertise of the market’s brightest minds, working together for a braver world.

Our role is to inspire courage, so tomorrow’s progress isn’t limited by today’s risks.

Our shared values: we are brave; we are stronger together; we do the right thing; guide what we do and how we act. If you share our values and our passion to build a future that’s more sustainable, resilient and inclusive, you’ll find a home at Lloyd’s – build a braver future with us.

Lloyd’s is seeking to recruit a Senior Associate, Financial Risk. You will contribute to the management of Financial Risk at Lloyd’s, focusing on maintaining an appropriate solvency position and balance sheet strength to support its activities and strategic objectives.

Principal Accountabilities:

1. To lead, or contribute to as part of the team, the appropriate management, use and oversight of the Lloyd’s Internal Model (LIM).
2. Responsible for governance processes and forums (incl. the Internal Model Oversight Committee) to ensure the LIM activity is appropriately scrutinised and overseen.
3. Responsible for ensuring key processes and frameworks related to the Internal Model remain fit for purpose, including Model Change Policy, Governance, and Use processes. Lead governance sign-offs for Model Changes.

To lead, or contribute to as part of the team, a range of key capital management processes intended to support stakeholders in quantifying risks relating to Lloyd’s solvency position.

1. Lead the development of the Capital and solvency sections of the ORSA (annually and quarterly), including future solvency projections.
2. Coordinate Stress and Scenario Testing, Reverse Stress Testing to support activities like model validation, ORSA, business planning, and regulatory exercises.
3. Support activities in maintaining Lloyd’s Recovery and Resolution Planning.

Provide risk input into key capital management initiatives.

1. Work with Finance colleagues to support capital management strategy and initiatives.
2. Produce risk opinions to support decision-making by senior stakeholders.

Support other areas of the financial risk team, especially in managing investment, liquidity, and capital risks. Provide second-line support and challenge on syndicate oversight to ensure risk-based, forward-looking activity aligned with Principles Based Oversight framework. Support validation of Lloyd’s Internal Model, focusing on the Economic Scenario Generator, Investment Risk Model, and Market risk components. Provide ad-hoc risk opinions for syndicate applications. Maintain awareness of risks to Lloyd’s financial stability. Respond swiftly to requests from the Chief Risk Officer or Head of Risk Management.

Skills, Knowledge, and Experience:

• Stakeholder management experience, including challenging stakeholders.
• Experience with Solvency II and UK insurance regulation trends.
• Strong risk management frameworks, tools, processes, including internal models.
• Knowledge of UK insurance regulatory regime, internal models, and capital modelling techniques.
• Understanding of the insurance industry and Lloyd’s market.
• Financial markets and asset classes in insurers’ portfolios.
• Qualified actuary (beneficial).
• Ability to apply technical actuarial and risk management knowledge effectively.
• Excellent relationship management and influence skills.
• Teamwork and ownership skills.
• Ability to challenge technical experts and remain resilient under scrutiny.