At a Glance
- Tasks: Oversee and challenge financial risk activities in a dynamic insurance environment.
- Company: Join a leading regulated financial services insurance organisation.
- Benefits: Competitive salary, professional development, and opportunities for career growth.
- Other info: Collaborative culture with exposure to senior leadership and key stakeholders.
- Why this job: Make a real impact on business decisions and strengthen risk management practices.
- Qualifications: Experience in insurance risk management and strong analytical skills.
The predicted salary is between 60000 - 80000 £ per year.
We are seeking an experienced Financial Risk Manager to join a growing Risk function within a regulated financial services insurance organisation. This role provides independent second-line oversight and challenge across key financial and insurance risk activities, including pricing, underwriting, reserving, capital management, and model governance. The successful candidate will help ensure risks are effectively identified, assessed, managed, and reported in line with the organisation's risk appetite, regulatory obligations, and governance framework. Working closely with underwriting, actuarial, finance, and senior leadership teams, you will play a key role in strengthening risk management practices across the product lifecycle and supporting informed business decision-making.
Key Responsibilities
- Independent Risk Oversight & Challenge
- Provide effective second-line review and challenge of pricing models, underwriting strategies, and related governance processes.
- Assess the effectiveness of financial and insurance risk controls and ensure activities remain within approved risk appetite and policy limits.
- Challenge portfolio performance, pricing adequacy, risk selection practices, and claims performance.
- Support oversight and review of reserving methodologies and reserve adequacy.
- Risk Framework & Governance
- Support the development and enhancement of financial and insurance risk frameworks, policies, standards, and controls.
- Ensure alignment with risk appetite statements and governance requirements relating to underwriting, pricing, and reserving activities.
- Prepare and contribute to risk committee and governance reporting, providing clear and insightful risk analysis.
- Risk Identification & Assessment
- Support the identification, assessment, and monitoring of key financial and insurance risks, including:
- Pricing adequacy
- Reserving adequacy
- Catastrophe exposure
- Capital adequacy
- Claims inflation
- Model risk
- Portfolio concentration
- Adverse selection
- Participate in relevant governance forums, working groups, and committees, providing risk insight and escalation where appropriate.
- Monitoring & Reporting
- Support the development of risk dashboards and management information for senior stakeholders.
- Monitor key risk indicators including loss ratio trends, rate adequacy, claims inflation impacts, and portfolio volatility.
- Deliver clear and evidence-based risk opinions and reporting to senior management and governance committees.
- Regulatory Compliance & Customer Outcomes
- Support compliance with applicable regulatory requirements and industry expectations.
- Provide oversight and challenge to ensure pricing and risk management practices deliver fair customer outcomes.
- Change & Transformation
- Provide independent risk input and challenge on:
- New product proposals
- Pricing model developments and changes
- Underwriting rule changes
- Product lifecycle reviews
- Ensure material risks are appropriately assessed, understood, and escalated before implementation.
Skills & Experience
- Essential
- Significant experience within insurance or financial services risk management.
- Strong understanding of pricing, underwriting, modelling, and insurance risk management practices.
- Experience reviewing models and challenging assumptions, methodologies, and outputs.
- Previous experience in a second-line risk, governance, actuarial, or oversight function.
- Strong analytical and problem-solving capabilities.
- Desirable
- Professional qualifications in Risk Management, Actuarial Science, or a related discipline.
- Experience working within a regulated General Insurance environment.
Knowledge & Expertise
- Pricing, underwriting, reserving, and capital management.
- Model governance and model risk management.
- Reinsurance structures and effectiveness.
- Solvency UK requirements and ORSA processes.
- Enterprise Risk Management frameworks.
- UK insurance regulatory environment and conduct expectations.
Personal Attributes
- Able to provide constructive, credible, and commercially balanced challenge.
- Excellent communication skills with the ability to explain complex risk matters clearly and concisely.
- Strong stakeholder management skills with experience engaging senior leaders across actuarial, underwriting, finance, and risk functions.
- Collaborative approach with the confidence to influence decision-making at all levels.
Why Apply?
This is an excellent opportunity to join a highly visible risk function and influence key business decisions across underwriting, pricing, capital, and product governance. You will work closely with senior stakeholders and play a meaningful role in strengthening risk culture and supporting sustainable business performance.
Insurance Risk Manager in Slough employer: Arthur Recruitment
Join a dynamic and forward-thinking insurance organisation that prioritises employee development and fosters a collaborative work culture. As an Insurance Risk Manager, you will benefit from comprehensive training programmes, opportunities for professional growth, and the chance to make a significant impact on risk management practices. Located in a vibrant area, our company offers a supportive environment where your contributions are valued, and you can thrive both personally and professionally.
StudySmarter Expert Advice🤫
We think this is how you could land Insurance Risk Manager in Slough
✨Tip Number 1
Network like a pro! Reach out to people in the insurance and financial services sectors on LinkedIn. Join relevant groups, attend webinars, and don’t be shy about asking for informational interviews. You never know who might have the inside scoop on job openings!
✨Tip Number 2
Prepare for those interviews by brushing up on your knowledge of risk management practices. Be ready to discuss how you would challenge pricing models or assess underwriting strategies. Show them you’re not just a candidate, but a potential game-changer for their risk function!
✨Tip Number 3
Don’t forget to tailor your approach! When you apply through our website, make sure your CV and cover letter highlight your experience in financial and insurance risk management. Use keywords from the job description to catch their eye and show you’re the perfect fit.
✨Tip Number 4
Follow up after interviews! A quick thank-you email can go a long way. Mention something specific from your conversation to remind them of your expertise and enthusiasm for the role. It shows you’re genuinely interested and keeps you top of mind!
We think you need these skills to ace Insurance Risk Manager in Slough
Some tips for your application 🫡
Tailor Your CV:Make sure your CV is tailored to the role of Insurance Risk Manager. Highlight your experience in financial risk management, especially in pricing and underwriting, to show us you’re the right fit for our team.
Craft a Compelling Cover Letter:Your cover letter should tell us why you’re passionate about risk management in the insurance sector. Share specific examples of how you've successfully challenged risk assumptions or improved governance processes in your previous roles.
Showcase Your Analytical Skills:We love candidates who can demonstrate strong analytical and problem-solving skills. Include examples of how you've used these skills to assess risks or improve financial controls in your past positions.
Apply Through Our Website:Don’t forget to apply through our website! It’s the best way for us to receive your application and ensures you’re considered for this exciting opportunity in our growing risk function.
How to prepare for a job interview at Arthur Recruitment
✨Know Your Risk Management Stuff
Make sure you brush up on your knowledge of financial and insurance risk management practices. Be ready to discuss pricing models, underwriting strategies, and how you would challenge assumptions in these areas. Showing that you understand the nuances of risk oversight will impress the interviewers.
✨Prepare Real-World Examples
Think of specific instances where you've successfully identified and managed risks in previous roles. Whether it’s about assessing reserve adequacy or challenging portfolio performance, having concrete examples will help you demonstrate your expertise and problem-solving skills effectively.
✨Understand the Regulatory Landscape
Familiarise yourself with the UK insurance regulatory environment and conduct expectations. Be prepared to discuss how you would ensure compliance with these regulations while still delivering fair customer outcomes. This shows that you’re not just knowledgeable but also practical in applying that knowledge.
✨Engage with Stakeholders
Since this role involves working closely with senior leadership and various teams, think about how you can showcase your stakeholder management skills. Prepare to discuss how you’ve influenced decision-making in the past and how you would approach collaboration in this new role.
