Role: Head of Risk Services - Insurance
Our Client is an innovative, niche and specialty insurance group of companies with subsidiaries in the UK, Ireland, and Italy, writing in excess of £1bn of annual gross written premium. A diverse portfolio of business is written across insurance and reinsurance business in the UK, Europe and overseas. It aims to offer niche lines and products in core accounts where it has a high degree of market knowledge and expertise.
Each insurance carrier has a dedicated Risk Management Team led by a Head of Risk or Chief Risk Officer.
The primary objective of the Head of Risk Services is to assist the Heads of Risk for the regulated insurance carriers and the Chief Risk Officer in the delivery of Enterprise Risk Management (ERM) across the Group.
In this capacity, the Head of Risk Services will lead initiatives required in implementing an effective ERM system across the Group. Specifically, the Head of Risk Services will lead the ERM Shared Services function to drive a consistent approach to risk policies, operational risk management, incident management and reporting to the parent company. This will include comprising strategies, processes and reporting procedures necessary to identify, measure, monitor, manage and report on the risks facing the Company.
The position requires an individual with a strong insurance, financial, operational and regulatory background. The successful candidate will be able to work effectively with leaders across the business, insurance regulations and other governance structures and will require strong written and verbal communication skills along with the ability to present ideas effectively to senior leadership.
The successful candidate must have a demonstrable mastery of basic Microsoft applications used regularly by the ERM team including Word, PowerPoint, Excel and SharePoint. Expertise in Power BI, Tableau and Archer software solutions would be helpful.
Essential Job Functions:
The Head of Risk Services will assist in the execution of ERM processes and infrastructure supporting the business objectives of the organisation, including the following:
- Support the various Heads of Risk/Chief Risk Officers to develop appropriate risk policies which are consistent or comparable across the AmTrust International Group;
- Coordinate the key elements of the ongoing Own Risk Solvency Assessments (ORSA) of Group insurance entities;
- Lead the team performing operational risk management and incident management support across the Group
- Works with business units to establish, maintain and continuously improve risk management capabilities;
- Assists in appropriate risk reporting to the CRO, CEO, Executive Committee, Risk Committee, Board and senior management; and
- Conducts enterprise-wide risk and control self-assessments and monitors priority risks across the organisation.
Qualifications and Experience
- Risk Management experience within a Financial Services related Company - preferably General Insurance
- Experience of working with business functions to improve risk policies, operational processes and promote cultural change
- Ability to understand and evaluate processes and assess whether they fulfil regulatory and business requirements
- Knowledge of regulatory rules (including Solvency II) and guidance in relation to General Insurance, as well as other regulatory/legislative subject matter relevant to the industry such as data protection
- Analytical and reporting experience directed to a senior level audience
- Demonstrate a positive enthusiastic approach and willing to undertake continuous professional development in order to maintain a sound knowledge of the industry and regulatory environment
- Strong interpersonal skills and ability to form professional relationships with colleagues at all levels of seniority
- Strong communication and analytical skills
- Highly computer literate with excellent knowledge of Microsoft Office tools (Word, Excel, PowerPoint)
- Understanding of insurance/reinsurance practices
- Demonstrate good attention to detail together with the ability to consider the bigger picture
- Persuasive and calm under pressure or challenge
Chief Risk Officer