Find a job 
Featured Companies 
Featured Universities 
For Companies At a Glance
- Tasks: Lead the Financial Market Risk team and manage financial risks for investment portfolios.
- Company: Join a leading insurance company focused on robust risk management practices.
- Benefits: Enjoy competitive salary, 30 days leave, private health insurance, and learning funds.
- Why this job: Be part of a dynamic team shaping financial strategies with significant impact.
- Qualifications: Extensive financial risk leadership experience and relevant qualifications like FIA/FFA or CFA.
- Other info: Flexible work environment with opportunities for personal and professional growth.
The predicted salary is between 43200 - 72000 £ per year.
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
Head of Financial Market Risk employer: Convex
Contact Detail:
Convex Recruiting Team
StudySmarter Expert Advice 🤫
We think this is how you could land Head of Financial Market Risk
✨Tip Number 1
Network with professionals in the financial risk management field, especially those who have experience in insurance companies or actuarial consulting. Attend industry events or webinars to connect with potential colleagues and learn about the latest trends in market risk.
✨Tip Number 2
Familiarise yourself with the specific risk management methodologies mentioned in the job description, such as Value-at-risk (VaR) and Solvency II. Being able to discuss these concepts confidently during interviews will demonstrate your expertise and understanding of the role.
✨Tip Number 3
Prepare to showcase your leadership skills by gathering examples of how you've successfully managed teams and driven performance in previous roles. Highlighting your ability to mentor and develop talent will be crucial for this position.
✨Tip Number 4
Stay updated on current market trends and economic scenarios that could impact financial risks. Being knowledgeable about recent developments will allow you to engage in meaningful discussions with senior leadership and demonstrate your proactive approach to risk management.
We think you need these skills to ace Head of Financial Market Risk
Some tips for your application 🫡
Tailor Your CV: Make sure your CV highlights your extensive financial risk leadership experience, particularly in the context of insurance or actuarial consulting. Emphasise your qualifications such as FIA/FFA or CFA, and showcase relevant achievements that demonstrate your ability to lead and mentor teams.
Craft a Compelling Cover Letter: In your cover letter, address how your skills align with the key responsibilities of the Head of Financial Market Risk role. Discuss your understanding of investment fundamentals and risk management methodologies, and provide examples of how you've successfully driven performance and fostered talent in previous roles.
Highlight Relevant Experience: When detailing your work history, focus on your experience with quantitative risk modelling and your understanding of ALM and investment portfolios. Mention any specific projects where you led risk reviews or developed stress testing frameworks, as these are crucial for the position.
Showcase Your Analytical Skills: Since strong analytical skills are essential for this role, include examples of how you've diagnosed and resolved complex issues in past positions. Highlight your experience with risk-based economic and capital models, particularly in relation to Solvency II, to demonstrate your expertise.
How to prepare for a job interview at Convex
✨Showcase Your Leadership Skills
As the Head of Financial Market Risk, you'll be leading a team. Be prepared to discuss your leadership style and provide examples of how you've successfully mentored and developed teams in the past.
✨Demonstrate Your Technical Knowledge
Make sure you have a solid understanding of financial risk management methodologies, especially Value-at-risk (VaR) and ALM. Be ready to discuss how you've applied these concepts in previous roles.
✨Prepare for Scenario-Based Questions
Expect questions that require you to think critically about risk management scenarios. Practice articulating your thought process on how you would handle specific financial risks or challenges.
✨Highlight Your Stakeholder Engagement Experience
This role involves building strong relationships with various stakeholders. Be prepared to share examples of how you've effectively communicated and collaborated with senior leadership and external partners in the past.
