Senior Associate, Financial Risk

TN United Kingdom; London; On-site; GBP 60,000 - 100,000; Full time

Job summary

An established industry player is seeking a Senior Associate in Financial Risk to manage and oversee financial risk strategies. This role involves ensuring solvency and balance sheet strength while leading the governance of the Lloyd's Internal Model. The ideal candidate will have strong stakeholder management skills, a deep understanding of Solvency II, and experience in risk management frameworks. Join this innovative firm to contribute to building a resilient and sustainable future in the insurance marketplace, where your expertise will play a crucial role in shaping financial strategies and ensuring compliance with regulatory standards.

Qualifications

• Experience in managing stakeholders and challenging them effectively.
• Understanding of UK insurance regulation and Lloyd's market operations.

Responsibilities

• Lead the management and oversight of the Lloyd’s Internal Model.
• Coordinate Stress and Scenario Testing for capital management.

Skills

Stakeholder management

Knowledge of Solvency II

Risk management frameworks

Capital modeling techniques

Strong communication skills

Teamwork

Relationship-building

Education

Qualified actuary

Job description

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Client:

Lloyd's

Location:

London, United Kingdom

Job Category:

Finance

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EU work permit required:

Yes

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Job Reference:

e0e44ccae5f2

Job Views:

2

Posted:

07.05.2025

Expiry Date:

21.06.2025

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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 with a particular focus on ensuring that Lloyd’s maintains 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).

• Responsible for the governance processes and forums (including the Internal Model Oversight Committee) to ensure the LIM activity is appropriately scrutinised and overseen.
• Responsible for ensuring key processes and frameworks relating 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, key capital management processes to support stakeholders in quantifying risks relating to Lloyd’s solvency position.

• Develop the Capital and Solvency sections of the ORSA (annually and quarterly), including future projections.
• Coordinate Stress and Scenario Testing, Reverse Stress Testing, supporting activities like model validation, ORSA, business planning, and regulatory exercises.
• Support activities related to Lloyd’s Recovery and Resolution Planning.

Provide risk input into capital management initiatives:

• Collaborate with Finance to support capital management strategies and initiatives.
• Produce risk opinions for senior stakeholder decision-making.

Support other areas of the financial risk team, especially in managing investment, liquidity, and capital risks, ensuring oversight activities are risk-based and forward-looking.

Assist in validating Lloyd’s Internal Model, focusing on the Economic Scenario Generator, Investment Risk Model, and Market Risk component.

Provide ad-hoc risk opinions for syndicate new entrants and maintain a view on risks to Lloyd’s financial stability.

Respond flexibly to requests from the Chief Risk Officer or Head of Risk Management.

Skills, Knowledge, and Experience:

• Stakeholder management experience, including challenging stakeholders.
• Knowledge of Solvency II and UK insurance regulation trends.
• Experience with risk management frameworks, internal models, and capital modeling techniques.
• Understanding of the UK insurance regulatory regime and Lloyd’s market operations.
• Qualified actuary (beneficial).
• Strong communication skills to assess complex information and reach conclusions.
• Relationship-building and influencing skills.
• Teamwork and ownership of tasks and projects.
• Ability to challenge technical experts and remain resilient under scrutiny.