Senior Risk Officer

Liberty Specialty Markets; London; On-site; GBP 70,000 - 110,000; Full time

Job summary

A leading global insurer is seeking a Risk Management Specialist to support the Chief Risk Officers. The individual will enhance risk management practices, focusing on risk appetite, frameworks, and governance across UK & Europe. This role requires a proven track record in risk management, strong analytical skills, and a deep understanding of regulatory environments.

Benefits

Vibrant and inclusive work environment

Commitment to career development

Flexible working arrangements

Qualifications

• Proven experience in risk management within the Lloyd's insurance market.
• Good understanding of Solvency II regulations and capital frameworks.
• Experience with ORSA and stress testing processes.

Responsibilities

• Develop and maintain risk frameworks, ensuring compliance with regulatory standards.
• Lead risk assessments and document strategies for risk mitigation.
• Coordinate the Own Risk and Solvency Assessment (ORSA) process.

Skills

Analytical skills

Problem-solving

Data analysis

Leadership

Education

Degree in Finance, Risk Management, or related field

Professional certification (e.g., FRM, ACII)

Tools

Risk management tools and software

Job description

We are seeking an experienced individual to directly support the Chief Risk Officers (CROs) of both LMAL & LMIE in leading risk management activities. The role will focus on delivering a more holistic and comprehensive view of the risk profile and enhancing our Risk Appetite Framework, Key Risk Indicators (KRI), and overall risk practices across both Legal Entities.

Key Responsibilities:

Develop a strong understanding of the underwriting and investment portfolios.

Review, challenge and utilise outputs from the business and other Risk teams to form a LE view of the risk profile, while also considering Lloyd’s/EIOPA guidance and regulatory expectations.

Assess and review business plan for LE portfolio(s), whilst also considering historical performance and thematic areas identified by Lloyd’s/EIOPA and/or the PRA/CAA. Work with Risk Management Actuarial and Senior Risk Analyst(s) to develop LE specific set of SSTs and review analysis.

Risk Appetite and KRI Enhancement:

Work with CROs to help support the enhancements of the existing risk appetites and supporting metrics, in line with industry good practice and regulatory and Lloyd's/EIOPA expectations.

This will include monitoring positions against appetite and advising on risk mitigation strategies.

Risk framework, processes and systems:

Maintain a continuous and clear view of risk exposures.

Develop and maintain comprehensive reporting using risk management systems and data visualization tools.

Risk Register and Assessments:

Maintain and update the risk register, documenting risks and their mitigation strategies, considering output from integrated assurance work and Internal Audits, as well as incident reporting, and changes in the risk landscape.

Support the comprehensive risk assessments across both UK & Europe LE considering a more holistic view of the risk profile. Work closely with Risk Business Partners to monitor risks and provide guidance on mitigation strategies, including assessing the impact of new projects.

Working with business and subject matter experts to support climate risk assessments, integrating sustainability considerations into risk management frameworks and to address potential impacts on the portfolio.

Assist in essential activities such as internal controls, handling operational incidents, and conducting stress and scenario testing.

Enhance and support the implementation of the Emerging Risk Framework across UK & Europe LE, considering the relevance and materiality in view of the portfolio. Ensure that emerging risks are effectively identified, assessed, and managed in alignment with the broader organizational risk management goals.

Lead and coordinate in-depth risk reviews and analyses to provide insights into specific risk areas, presenting findings and recommendations to senior management and stakeholders.

Reporting and Governance:

Lead and coordinate the Own Risk and Solvency Assessment (“ORSA") process across both LE in UK & Europe, ensuring on time production of the annual ORSA reports for Board(s) approval.

Assist in the production/review of all regular and ad hoc reporting from the Risk function, including to the Risk Management Committee, Board, regulators, and other key stakeholders.

Facilitate and ensure effective risk governance, including the operation of various risk committees as required.

Present key Risk Management findings to senior management, up to and including the Board(s).

Remain updated on regulatory developments to provide timely input.

Regulatory requirements:

Adherence to all relevant regulatory requirements forms part of the individual’s role, and the demonstration of behaviours as set out in the Conduct Risk Policy, as they relate to this role, is core to LSM's commitment to our Liberty Values, placing customers at the centre of our business and behaving with integrity.

LSM expects the individual to understand the responsibilities relating to all regulatory and internal requirements, and to proactively demonstrate compliance with these requirements and behaviours, at all times. These requirements include the Senior Managers and Certification Regime Conduct Rules, Solvency II, fair treatment of customers, Financial Crime, Data Protection, Conflicts of Interest, and Whistleblowing

Skills and Experience:

Degree in Finance, Risk Management, or a related field; advanced degree or professional certification (e.g., FRM, ACII, or equivalent) is a plus.

Proven experience in risk management, preferably within the Lloyd’s insurance market and PRA/EIOPA regulatory environment.

Good understanding of Solvency II and familiar with principles of regulatory capital (Internal Model and Standard Formula)

Strong technical understanding and implementation of risk assessment methodologies, regulatory frameworks, and key industry standards. Experience of ORSA and stress testing processes.

Excellent analytical and problem-solving skills, with the ability to communicate complex risk issues effectively to diverse audiences through risk papers and presentations.

Demonstrated leadership capabilities and experience in managing teams, driving strategic initiatives, and fostering a risk-aware culture.

Proficiency in risk management tools and software, with a strong aptitude for data analysis and interpretation.

About Liberty Specialty Markets (LSM)

Liberty Specialty Markets is part of Global Risk Solutions and the broader Liberty Mutual Group, which is a leading global insurer. We offer a breadth of world-class insurance and reinsurance services to brokers and insureds in all major markets.

Our people are key to our success. That is why "Put People First" is one of the five Liberty values which unite us as a global organisation. We bring this to life for our colleagues through:

Offering a vibrant and inclusive environment and committing to their career development.

Promoting diversity, equity and inclusion (DEI). OurInclusion Matters frameworkand employee-led networks strengthen the diversity of our workforce and our inclusive environment.

Reinforcing that collaborating together to share our unique perspectives help us make better decisions, deliver innovative solutions and pursue our ambitious goals.

A supportive culture, which includes promoting a healthy work-life balance and working flexibly.

For more information, please follow the links below:

https://www.libertyspecialtymarkets.com/gb-en/careers/working-for-us

https://www.libertyspecialtymarkets.com/gb-en/careers/diversity-inclusion-wellbeing/diversity-and-inclusion