Head of Financial Market Risk

Head of Financial Market Risk Department: Risk Employment Type: Permanent Location: London, UK Description In your position as Head of Financial Risk, you own the risk oversight of the Group’s investment portfolios and manage any financial risks arising from the business, specifically in regard to market, credit and liquidity risks. Reporting to the Group Chief Risk Officer, you lead the Financial Market Risk team and collaborate closely with other Risk Pillars, including Enterprise Risk, Insurance Risk, and the entity Chief Risk Officers. In addition, you will work closely with senior leadership, including the Investment team, the Finance team, and the Actuarial team, to ensure robust risk management practices are in place. Key Responsibilities Lead, mentor, and develop a team of financial market risk professionals, fostering a culture of excellence and continuous improvement. Attend the Capital and Liquidity Committee, Group Executive Risk Committee and Board Investment Committee to discuss / provide risk opinions on relevant financial risk matters. Lead and oversee the review of economic scenario generators. Oversee and drive risk reviews and provide strategic advice on sign-offs on any expansions or significant variations to existing portfolios, including new investment products and due diligence on new investment managers. Engage with internal and external investment managers to share market insights and risk assessments. Drive the review and validation of liability-based benchmarks for use at the Group level and entity level. Take ownership of the validation of market and credit risk parameters for use in capital modelling. Lead and drive the provision of both quantitative and qualitative review of risk on a regular basis, including deep-dives. Lead and own the production of financial risk reports in line with the group and entity risk frameworks and investment guidelines, including provision of forward-looking risk commentary. Be responsible for reviewing risk-based assumptions within the investment plan. Develop, drive, and monitor liquidity stress testing and the group’s liquidity risk framework. Own the development and maintenance of a comprehensive stress and scenario testing framework. Lead contributions to the GSSA/ORSA reporting process from a market, credit, and liquidity risk perspective, including stress and scenario testing. Be responsible for building and maintaining strong relationships with key stakeholders, ensuring alignment with the Group\’s risk management strategy. Skills Knowledge and Expertise Extensive financial risk leadership experience in the context of an insurance company or actuarial consulting. FIA/FFA, CFA qualification or equivalent. Self-starter attitude and ability to work within ambiguity; flexibility and proven ability to diagnose and resolve issues and strong analytical skills. Proven leadership and team management experience, with a track record of driving performance and fostering talent. Deep understanding of investment fundamentals, asset classes, sectors, and principles behind deriving both systematic and non-systematic risk. Robust understanding of risk management methodologies such as Value-at-risk (VaR). In-depth experience in ALM and investment portfolios/strategies within Insurance. Well-rounded understanding of risk-based economic and capital models including Solvency II. Significant experience with quantitative risk modelling, ideally combined with practical experience using stochastic risk models. Prior experience of using ALGO is an advantage. Benefits Competitive Salary 30 days Annual Leave Birthday Leave 10% Employer Pension Contribution Private Health Insurance Medical Cover Group Income Protection Life Assurance Cover Enhanced Parental Leave Annual Health Check 3 days of Volunteer Leave each year 10 days of help with care (elder/ childcare) through Bright Horizons £1,300 to spend on learning & wellbeing Give as You Earn Cycle to Work Season Ticket Loan #J-18808-Ljbffr