Risk Manager

Role Summary:

To assume a leadership role for promoting an effective risk culture. Ensure a robust risk management framework is implemented, and is applied both consistently, and in a way that is relevant to the risk profile of the entity. There will be a need for a “hands-on” approach to risk management, with responsibility for one direct report: responsibility will include overseeing and mentoring the work of other team members who will provide shared support for this role.

Knowledge and Qualifications:

• University Degree and/or relevant professional qualifications (e.g. Risk, Finance, Actuarial)
• Comprehensive understanding of risk management best practices,
• Comprehensive understanding of Insurance and Reinsurance markets.
• Understand nuances of different regulatory regimes (Lloyd’s primarily: others an advantage) and Insurance and Reinsurance markets

Skills and Demonstrated Experience:

• Insurance market experience, ideally within Risk Management
• Highly numerate, analytical, with strong attention to detail
• Excellent problem-solving skills (e.g. root-cause analysis)
• Demonstrate proactive identification of risk and influence change
• High quality stakeholder management both internal and external
• Experience of dealing with regulators, C-suite, and other senior stakeholders
• Appreciate the interaction between quantitative and qualitative aspects of risk (including use and understanding of capital model outputs)
• Team player, with experience of managing and mentoring individuals directly or indirectly.
• Clear, focused and articulate written and verbal communication
• Experience in identifying and implementing process improvements and efficiencies
• Ability to present risk-reward analysis to support risk-based decisions
• Act with professionalism, reliability and integrity at all times
• Diligent, self-driven and organised, with excellent time management skills
• Excellent IT skills including a high proficiency in Excel
• Able to navigate uncertainty

Key Accountabilities:

Risk Framework:

• Maintain the risk framework including strategy, policies and procedures
• Develop a robust, consistent, coherent, and regulatory compliant risk framework
• Work with the team to deliver all parts of the risk framework
• Track evolving industry best practice and regulatory guidance: integrating into all risk processes. Yield insights from participation in market forums
• Pro-actively identify gaps and enhancements, and design workable solutions.
• Embed risk management within the business
• Ensure framework accounts for regulatory developments

Risk Culture:

• Embed and advocate a strong risk culture throughout the business
• Ensuring clear “First line” ownership of risk with clear roles and expectations
• Advocate for risk best practices in a collaborative way, challenging where required
• Integrate risk management throughout the business
• Provide risk training for senior members and oversee regular risk training for new starters
• Advocate for conscious and informed risk-taking
• Be a trusted advisors to the business

Risk Reporting: 

• Ensure clear, concise and accurate quarterly risk reporting for all risk stakeholders (including Boards and Committees)
• Summarise relevant matters from all parts of the framework (register, controls, issues, events, stress testing etc)
• Provide a coherent view of risk across all processes (drawing connections where needed)
• Other risk reporting as needed

Risk Register:

• Design, implement and maintain a complete and consistent risk register
• Oversee control self-assessment and action resolution
• Apply 2nd Line challenge and review to self-assessments and control definitions.
• Ensure alignment to policies and procedures.
• Ensure regular review to identify control gaps
• Propose proactive enhancements proportionate to the risk.
• Liaise with owners on inherent/residual risk assessment
• Annual review and reporting or Risk Register and governance over changes in risk register

Risk Appetite and Tolerance:

• Design, implement and maintain appetite and risk limits, reflecting risk profile
• Develop Key Risk Indicators as early warning signals in respect of risk exposures
• Assess, report and challenge position against these metrics, if appropriate ensure resolution and/or prevention
• Assess risks using model or other quantitative outputs
• Monitor risk exposure in light of evolving experience and actual data

Regulatory, Board & Public Reporting (i.e. ORSA,):

• Responsible for the annual regulatory and Board reporting
• Review public disclosures pertaining to risk
• Ensure compliance with all regulatory requirements
• Present information in a clear, complete and concise report
• Reflect key risks of relevance
• Account for best practice and regulatory feedback
• Lead the project, overseeing other team members
• Challenge accuracy of inputs

Internal Model:

• Liaise with the Capital Modelling team, sharing relevant risk knowledge in a collaborative way
• Ensure output and model reflects risk profile
• Liaising with the quantitative risk team, ensuring robust Internal Model Governance, and Validation processes
• Understand and present model output within risk reporting in an appropriate way

Stress and scenario:

• Design, implement and maintain a robust stress and scenario framework
• Utilise stress and scenario results to quantify and inform risk analysis and reporting
• Assess results and propose appropriate mitigation and/or management actions where required
• Present results in clear and concise reporting
• Partner with the Exposure Management team to ensure key risks are captured, and exposures adequately managed.

Emerging Risk:

• Oversee high quality emerging reporting
• Oversee relevant an up to date emerging risk log/heatmap
• Design, implement and maintain a consistent emerging risk framework across Antares Global
• Ensure horizon scanning to identify, escalate and assess relevant risks, and ensure relevant mitigants implemented
• Embed emerging risk considerations within the business.

Operational Risk:

• Ensure appropriate design, and implementation of the operational risk framework
• Oversee operational incidents including near misses, and appropriate prevention measure put in place
• Advocate strong operational risk management with 1st line
• Escalate trends or concerns

Management of Outsourcing:

• Complete risk assessment in line with Policy requirements on outsourcing risk
• Oversee any risk related outsourcing including governance, costs and SLAs

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