Risk Officer | London, UK

Build a brilliant future with Hiscox. This multi-faceted role offers an exciting opportunity for a risk professional who has experience of Enterprise Risk Management (ERM) within an Insurer or via consultancy. The role has direct exposure to the Group Risk Director and Group Chief Risk Officer.

You will support the Group's central Risk Team in coordinating and carrying out risk management activities spanning across various geographical business units and legal entities. Exposure to different regulatory regimes operating across multiple jurisdictions, alongside understanding the complexity of operating within a group framework will provide the successful candidate with an excellent foundation in Enterprise Risk Management.

There is frequent exposure to key internal and external stakeholders and the role also involves providing credible second line challenge to the business.

The Team: The Risk Team is responsible for facilitating the design, implementation, and oversight of Hiscox's Risk Management Framework which includes risk appetites, risk assessments, monitoring and reporting on risk operating to a three lines of defence risk management model. As a second line function, the Risk Team balances its role of supporting the business with its responsibility to provide credible, effective challenge. The Team produces high profile reporting that is seen by Executives, Boards and Risk Committees. In some instances this reporting is also provided to regulators.

Key responsibilities:

• Provide support to the Group Risk Function in delivering its objectives.
• Support the Risk Function in managing and embedding: the Risk and Control Self-Assessment (RCSA) process; Group risk policies; the Risk and Control Register (RCR); Risk Dashboards; and Risk Event and Action analysis and reporting.
• Assist with the preparation of papers and documents to be discussed at Board level and Executive level Risk Committees.
• Lead on the production of the Group Own Risk and Solvency Assessment (ORSA) report and support the production of the ORSA reports across the Group.
• Support the analysis of reported risk events and consider how external datasets can be used to help inform internal analysis.
• Contribute to business second line challenge through involvement in stakeholder meetings and specific risk reviews.
• Develop subject matter expertise, including through self-study, attending industry / market meetings.
• Stay abreast of regulatory developments in respect of risk management and the commensurate requirements and implications to the business.
• Support the delivery of regulatory requirements including submissions to a range of regulators of the Hiscox group.

Qualification / Technical experience:

• Solid understanding of key enterprise risk techniques and related common good practice along with some deep knowledge and experience in key risk types as applicable to retail insurance / commercial (re)insurance.
• Proven experience of Enterprise Risk Management or a focused risk area.
• Risk experience through insurance audit, compliance, consultancy or other relevant roles will be considered.
• Experience in meeting corporate and regulatory risk management requirements and related reporting.
• Motivate and collaborate: leverage strong interpersonal skills to interact with, influence and encourage risk owners and business stakeholders to positively respond to questions, inquiries and requests for information; also, be genuinely open to receiving and integrating feedback.
• Qualification or progress towards qualification in related field (e.g. risk management, insurance, finance, accounting).

Application of Knowledge & Skills:

• Ability to work independently and take ownership of tasks in an organised manner.
• Ability to form and articulate an opinion based on analysis performed taking into account internal and external factors.
• Ability and ownership for integrating and harmonising own activities and ability to multi-task effectively, to prioritise work, meet deadlines and work in a dynamic and complex environment.
• Demonstration of strong risk capabilities, increased depth of technical know-how and wider breath of responsibility.
• Develop, manage and deepen multiple stakeholder relationships across all levels of the business.
• Able to put forward constructive challenge to senior colleagues in a confident, credible, collaborative and non-contentious manner.
• Pride in delivery and fully accountable for areas of responsibility.
• Ability to diagnose an issue, consider options and approaches and execute solutions seamlessly.

About Hiscox: As an international specialist insurer we are far removed from the world of mass market insurance products. Instead we are selective and focus on our key areas of expertise and strength - all of which is underpinned by a culture that encourages us to challenge convention and always look for a better way of doing things.

We insure the unique and the interesting. And we search for the same when it comes to talented people. Hiscox is full of smart, reliable human beings that look out for customers and each other. We believe in doing the right thing, making good and rebuilding when things go wrong. Everyone is encouraged to think creatively, challenge the status quo and look for solutions.

Scratch beneath the surface and you will find a business that is solid, but slightly contrary. We like to do things differently and constantly seek to evolve. We might have been around for a long time (our roots go back to 1901), but we are young in many ways, ambitious and going places.

Some people might say insurance is dull, but life at Hiscox is anything but. If that sounds good to you, get in touch.

Diversity and Hybrid working: At Hiscox we care about our people. We hire the best people for the job and we're committed to diversity and creating a truly inclusive culture, which we believe drives success.

We have also learned over the past few years that working life doesn’t always have to be in the office, and now it is safe to do so we have introduced hybrid working to encourage a healthy work life balance. This hybrid working model is set by the team rather than the business to enable you to manage your own personal work-life balance. We see it as the best of both worlds; structure and sociability on one hand, and independence and flexibility on the other.