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- Tasks: Manage financial risk and support solvency strategies at Lloyd's.
- Company: Join Lloyd's, the leading global insurance marketplace focused on courage and collaboration.
- Benefits: Enjoy a dynamic work environment with opportunities for growth and development.
- Why this job: Be part of a mission to build a sustainable future while working with industry experts.
- Qualifications: Experience in stakeholder management and knowledge of Solvency II regulations required.
- Other info: This role requires a UK work permit and offers a chance to influence key financial decisions.
The predicted salary is between 48000 - 84000 £ per year.
Lloyd’s is the world’s leading insurance and reinsurance marketplace. We share the collective intelligence and risk sharing expertise of the market’s brightest minds, working together for a braver world. Our role is to inspire courage, so tomorrow’s progress isn’t limited by today’s risks. Our shared values: we are brave; we are stronger together; we do the right thing; guide what we do and how we act. If you share our values and our passion to build a future that’s more sustainable, resilient and inclusive, you’ll find a home at Lloyd’s – build a braver future with us.
Lloyd’s is seeking to recruit a Senior Associate, Financial Risk. You will contribute to the management of Financial Risk at Lloyd’s, focusing on maintaining an appropriate solvency position and balance sheet strength to support its activities and strategic objectives.
Principal Accountabilities:- To lead, or contribute to as part of the team, the appropriate management, use and oversight of the Lloyd’s Internal Model (LIM).
- Responsible for governance processes and forums (incl. the Internal Model Oversight Committee) to ensure the LIM activity is appropriately scrutinised and overseen.
- Responsible for ensuring key processes and frameworks related to the Internal Model remain fit for purpose, including Model Change Policy, Governance, and Use processes.
- Lead governance sign-offs for Model Changes.
- To lead, or contribute to as part of the team, a range of key capital management processes intended to support stakeholders in quantifying risks relating to Lloyd’s solvency position.
- Lead the development of the Capital and solvency sections of the ORSA (annually and quarterly), including future solvency projections.
- Coordinate Stress and Scenario Testing, Reverse Stress Testing to support activities like model validation, ORSA, business planning, and regulatory exercises.
- Support activities in maintaining Lloyd’s Recovery and Resolution Planning.
- Provide risk input into key capital management initiatives.
- Work with Finance colleagues to support capital management strategy and initiatives.
- Produce risk opinions to support decision-making by senior stakeholders.
- Support other areas of the financial risk team, especially in managing investment, liquidity, and capital risks.
- Provide second-line support and challenge on syndicate oversight to ensure risk-based, forward-looking activity aligned with Principles Based Oversight framework.
- Support validation of Lloyd’s Internal Model, focusing on the Economic Scenario Generator, Investment Risk Model, and Market risk components.
- Provide ad-hoc risk opinions for syndicate applications.
- Maintain awareness of risks to Lloyd’s financial stability.
- Respond swiftly to requests from the Chief Risk Officer or Head of Risk Management.
- Stakeholder management experience, including challenging stakeholders.
- Experience with Solvency II and UK insurance regulation trends.
- Strong risk management frameworks, tools, processes, including internal models.
- Knowledge of UK insurance regulatory regime, internal models, and capital modelling techniques.
- Understanding of the insurance industry and Lloyd’s market.
- Financial markets and asset classes in insurers’ portfolios.
- Qualified actuary (beneficial).
- Ability to apply technical actuarial and risk management knowledge effectively.
- Excellent relationship management and influence skills.
- Teamwork and ownership skills.
- Ability to challenge technical experts and remain resilient under scrutiny.
Senior Associate, Financial Risk employer: Lloyd's
Contact Detail:
Lloyd's Recruiting Team
StudySmarter Expert Advice 🤫
We think this is how you could land Senior Associate, Financial Risk
✨Tip Number 1
Familiarise yourself with Lloyd's Internal Model (LIM) and its governance processes. Understanding how the model operates and the key frameworks related to it will give you an edge during discussions and interviews.
✨Tip Number 2
Stay updated on Solvency II regulations and UK insurance trends. Being knowledgeable about current regulatory environments will demonstrate your commitment to the role and your ability to navigate complex financial landscapes.
✨Tip Number 3
Develop strong stakeholder management skills. Practice how to effectively challenge and influence stakeholders, as this is crucial for the Senior Associate role, where collaboration and communication are key.
✨Tip Number 4
Network within the insurance and financial risk community. Attend relevant events or webinars to connect with professionals in the field, which can provide insights and potentially lead to referrals for the position.
We think you need these skills to ace Senior Associate, Financial Risk
Some tips for your application 🫡
Understand the Role: Before applying, make sure you thoroughly understand the responsibilities and requirements of the Senior Associate, Financial Risk position at Lloyd's. Tailor your application to highlight relevant experience and skills that align with the job description.
Highlight Relevant Experience: In your CV and cover letter, emphasise your experience with Solvency II, risk management frameworks, and stakeholder management. Use specific examples to demonstrate how your background makes you a strong candidate for this role.
Craft a Compelling Cover Letter: Write a cover letter that not only outlines your qualifications but also reflects your understanding of Lloyd's values and mission. Show your passion for building a sustainable and resilient future in the insurance industry.
Proofread Your Application: Before submitting your application, carefully proofread all documents for spelling and grammatical errors. A polished application reflects attention to detail and professionalism, which are crucial in the financial risk sector.
How to prepare for a job interview at Lloyd's
✨Understand Lloyd's Values
Before your interview, make sure you understand and resonate with Lloyd's core values: bravery, collaboration, integrity, and a commitment to sustainability. Be prepared to discuss how your personal values align with theirs and provide examples from your past experiences.
✨Showcase Your Technical Knowledge
As a Senior Associate in Financial Risk, you'll need to demonstrate a strong grasp of risk management frameworks, Solvency II regulations, and internal models. Brush up on these topics and be ready to discuss how you've applied this knowledge in previous roles.
✨Prepare for Stakeholder Management Questions
Expect questions about your experience in managing and challenging stakeholders. Prepare specific examples that highlight your relationship management skills and how you've navigated complex discussions or conflicts in the past.
✨Demonstrate Your Analytical Skills
Given the role's focus on capital management and solvency projections, be ready to showcase your analytical abilities. You might be asked to solve a hypothetical problem or case study during the interview, so practice articulating your thought process clearly.
