Senior Risk Analyst

Starr Underwriting; London; On-site; GBP 50,000 - 90,000; Full time

Job summary

An established industry player is seeking a Risk Management Specialist to enhance their risk framework and reporting processes. This role involves developing risk appetite statements, conducting risk assessments, and ensuring compliance with regulatory expectations. The ideal candidate will have over five years of experience and a strong understanding of the London market. Join this forward-thinking organization that values diversity and offers exceptional training and development opportunities, fostering a collaborative and inclusive workplace where your contributions will be recognized and valued.

Benefits

First-class training and development opportunities

Inclusive work environment

Equal opportunity employer

Qualifications

• 5+ years of relevant experience in risk management or related fields.
• Understanding of regulatory expectations and London market practices.

Responsibilities

• Assist in developing risk and control registers and assessing key risks.
• Provide insightful risk reporting to governance committees.

Skills

Risk Assessment

Data Analysis

Regulatory Understanding

Risk Management

Education

Numeracy Degree

Professional Risk Management Qualification

Tools

Risk Database System

Job description

Starr Insurance Companies is a leading insurance and investment organization, providing commercial property and casualty insurance, including travel and accident coverage, to almost every imaginable business and industry in virtually every part of the world.

Cornelius Vander Starr established his first insurance company in Shanghai, China in 1919. Today, we are one of the world’s fastest growing insurance organizations, capable of writing in 128 countries on 6 continents.

Roles and Responsibilities

Risk & Control Self-Assessment

• Assist the business with developing their risk and control registers providing support to identify and analyse key risks and controls.
• Critically assess and challenge the risk and control registers of each function to ensure they continue to provide value and assurance to senior management.
• Embed the quarterly RCSA attestation programme.
• Working with the business, Compliance and Audit to develop and maintain a testing programme to validate the attestations provided by risk and controls owners.

Risk Framework

• Develop and maintain appropriate Board risk appetite statements with key metrics aligned to the risk profile of the Starr legal entities.
• Develop and embed risk appetite breach monitoring and ensure appropriate resultant actions are taken following a breach of agreed alert limits or thresholds.
• To coordinate and report details of top risks and emerging risks to the Starr legal entities and ensuring there is appropriate challenge to the management response to those top and emerging risks.
• Co-ordinate and critically assess the annual Lloyd’s Principles business attestation.
• Draft and maintain risk policies and procedures relating to the risk function and key elements of the ERM framework.
• To ensure that risk events raised by the business are promptly analysed, reported and managed in accordance with the risk event management process and that immediate issues and root causes are identified and addressed in a cost-effective manner.
• To maintain the integrity of the data held in the risk database system and to encourage business ownership and use of the tool, providing training and support as required to embed that usage.
• To conduct thematic reviews of business activity that presents both a threat or opportunity to business strategy or risk appetites or otherwise is considered to present a material risk to the business that requires an appropriate business response.
• To support the delivery of the stress and scenario testing framework and to generate supporting analysis for the ORSA process and quarterly/ annual reporting.

Reporting

• To provide risk reporting that is insightful, clear and relevant to both the governance Committees and business functions and in accordance with the relevant committee TORs.
• Co-ordinate the ORSA process and draft the annual ORSA reports for the relevant Starr legal entities.

Experience

• 5 years’ + relevant experience;
• Understanding of regulatory expectations;
• Understanding of London market and Lloyd’s practices, preferable not essential.

Qualifications

• Numeracy degree and or professional numeracy or risk management qualification preferred

Starr is an equal opportunity employer, which means we'll consider all suitably qualified applicants regardless of gender identity or expression, ethnic origin, nationality, religion or beliefs, age, sexual orientation, disability status or any other protected characteristic. We recruit and develop our people based on merit and we're committed to creating an inclusive environment for all employees. We offer first class training and development opportunities to all employees. Our aim is to grow our own talent and bring out the best in people.