Risk Manager

Job Title: Risk Manager

Location: London / Hybrid

Salary Range: Competitive (dependent on experience)

Reporting to: Head of Risk

Overview

An excellent opportunity for an experienced Risk Manager to join a well-established Lloyd’s and London Market insurance business.

The role will support the ongoing development, maintenance and enhancement of the organisation’s Risk Management Framework, providing independent, commercial and forward-looking risk oversight across the business.

Sitting within the second line of defence, the position will have broad exposure across operational risk, risk and control assessments, risk appetite, emerging risks, stress and scenario testing, ORSA, internal model validation and regulatory oversight.

This is a strong opportunity for an established London Market risk professional looking to take on a broad and influential role within a high-performing insurance environment.

Key Responsibilities

• Support the maintenance and continuous enhancement of the Risk Management Framework, helping to embed effective risk management and risk ownership across the business.




• Promote risk awareness through stakeholder engagement, guidance and training.




• Prepare and coordinate high-quality risk reporting and documentation for senior stakeholders, committees and working groups.




• Maintain risk and control registers, ensuring risks, controls and emerging exposures are accurately captured and remain aligned with the organisation’s risk profile.




• Facilitate the Risk and Control Self-Assessment (RCSA) process across business functions, ensuring risks and key controls are appropriately assessed, documented and tested.




• Lead the risk event reporting process, working with stakeholders to ensure incidents are identified, assessed, monitored and appropriately managed.




• Support the ongoing maintenance and development of risk policies, procedures and governance documentation.




• Support the development, monitoring and refinement of risk appetite limits, tolerances, Key Risk Indicators (KRIs) and Key Control Indicators (KCIs).




• Contribute to the identification and assessment of emerging risks and opportunities, including leading detailed risk deep dives.




• Manage and embed the operational risk scenario assessment process, including stress testing and scenario analysis in support of capital and internal model requirements.




• Support the ongoing design, review and reporting of stress and scenario testing across the business.




• Manage the ongoing development and execution of the Own Risk and Solvency Assessment (ORSA) process, ensuring high-quality and timely reporting.




• Support risk input into the business planning process, including the preparation of formal risk opinions.




• Support governance and validation of the internal model in line with Lloyd’s standards and wider regulatory expectations.




• Undertake technical and non-technical validation testing across models used for risk, capital and solvency assessment.




• Monitor and support the closure of actions and recommendations arising from internal and independent model validation activity.




• Support effective governance of model changes and ensure appropriate validation is completed.




• Maintain awareness of and support compliance with Lloyd’s, PRA, FCA and wider UK prudential risk management requirements.




• Support regulatory assessment processes and engagement with relevant regulators and market bodies.

What We're Looking For

• Demonstrable Risk Management experience within the Lloyd’s and/or London insurance market.




• Broad understanding of key insurance risk types and established risk management frameworks.




• Strong practical experience of operational risk, risk and control assessments and risk governance.




• Good understanding of RCSA processes, risk registers, controls and risk event management.




• Knowledge of risk appetite frameworks, KRIs and control indicators.




• Experience with ORSA, stress and scenario testing and business planning processes.




• Knowledge of internal models, model governance and validation within an insurance environment.




• Strong understanding of prudential regulatory requirements, including Lloyd’s, PRA and Solvency UK/Solvency II expectations.




• Proven ability to work effectively with senior management, underwriting teams and wider business functions.




• Strong analytical skills with excellent attention to detail.




• Confident written, verbal and presentation skills, with the ability to communicate risk matters clearly to different audiences.




• Proactive and highly organised, with the ability to prioritise effectively and deliver against tight deadlines.




• Commercial mindset with the confidence to provide constructive challenge while maintaining strong stakeholder relationships.




• Proficiency in Microsoft Office and confidence working with different systems, data sources and reporting tools.

Desirable but Not Essential

• Experience working within a second-line Risk Management function.




• Previous involvement in Lloyd’s regulatory assessments or reviews.




• Experience supporting internal model validation and assurance activity.




• Experience leading operational risk scenario analysis or emerging-risk deep dives.




• Exposure to risk input into business planning and formal risk opinions.




• Relevant insurance, risk management or professional qualifications.

About the Company

A well-established specialist Lloyd’s and London Market insurance business with a strong reputation for technical expertise, disciplined risk management and high-quality underwriting.

The organisation operates in a collaborative and performance-focused environment, with an emphasis on strong governance, regulatory standards and sustainable growth. Its culture encourages professional development, individual ownership, innovation and continuous improvement, providing employees with opportunities to broaden their expertise and progress their careers.

The business is committed to creating an inclusive working environment and values different perspectives, backgrounds and experiences across its workforce.

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