Senior Associate, Operational Risk

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.

As a key member of the Risk Management team, the senior associate will ensure operational risks at Lloyd’s Corporation are identified, assessed, and managed within the risk acceptance authorities. This includes working closely with a wide range of business functions (primarily Finance, Markets People and Legal areas) to support and challenge their management of operational risk (risks arising from people, processes, systems, and external events). Reporting to an Operational Risk Manager in the Advisory and Oversight pillar of the Operational Risk team.

Principal Accountabilities:

• To work with key functions to ensure the operational risks arising in those functions are being adequately identified, assessed, and managed.
• To support functions in performing their risk management duties and to challenge the functions where appropriate to ensure risks are within appetite.
• To support and ensure the effective use of a range of risk tools by the functions, including Risk and Control Self-Assessment, Risk Incident Reporting (losses, control failures, near misses), Risk appetite reporting, Emerging risks reporting, and Risk culture, awareness and engagement.
• To contribute to and lead thematic reviews on key risk topics, testing how effectively risks are being managed by functions. To make recommendations to improve the management of risks and to present findings to stakeholders in Risk and the functions.
• To contribute to high quality regular and ad hoc reporting to the various Lloyd’s risk committees which enable the committees to effectively discharge their responsibilities.
• To build and maintain timely and effective risk management reports, including from risk systems (either in-house or vendor).
• To build and maintain good relationships with all relevant Corporation departments, including ‘Heads of’ functions where appropriate.
• To respond with agility to requests (i.e. ad hoc projects) from the Operational Risk Manager.

Skills Knowledge and Experience:

• Relationship management and communication skills – the role will involve a large amount of engagement with stakeholders at various levels across the Corporation, including the production of analysis reports which must be clear, accurate and easily accessible to both technical experts and those with a more general understanding of risk management.
• Challenge – ability to productively challenge technical experts across Lloyd’s and be robust/resilient under scrutiny.
• Analytical skills and be able to communicate (in both written and verbal forms) and engage in debate on complex topics. Evidence of influencing outcomes with senior management in both formal (e.g. committee) and informal settings is critical.
• Time management skills – used to working to deadlines and under a certain amount of pressure. Ability to maintain effective personal workload plans that are achievable, prioritised appropriately and meet business objectives.
• Team working – should be used to working as part of a team, making effective contributions to team meetings and team initiatives and be able to take ownership of tasks and projects whilst often working remotely and without supervision.
• Project management skills - to lead and deliver change within areas of responsibility (for example following changes in the regulatory environment) and support risk management of change in Corporation departments.
• Knowledge of operational functions (particularly Markets) to enable credible support and challenge to the risk management of those functions.
• Experience in managing senior stakeholders.

Diversity and inclusion are a focus for us – Lloyd’s aim is to build a diverse, inclusive environment that reflects the global markets we work in. One where everyone is treated with dignity and respect to achieve their full potential. In practice, this means we are positive and inclusive about making workplace adjustments, we offer regular health and wellbeing programmes, diversity and inclusion training, employee networks, mentoring and volunteering opportunities as well as investment into your professional development.

We understand that our work/life balance is important to us all and that a hybrid of working from the office and home can offer a great level of flexibility. Flexible working forms part of a total reward approach which offers a host of other benefits over and above the standard offering (generous pension, healthcare, wellbeing etc). These include financial support for training, education & development, a benefit allowance (to spend on our flexible benefits such as gym membership, dental insurance, extra holiday or to partake in our cycle to work scheme), employee recognition scheme and various employee discount schemes.

By choosing Lloyd's, you will be part of a team that brings together the best minds in the industry, and together with our underwriters and brokers, we create innovative, responsive solutions allowing us to share risk and solve complex problems.

Should you require any additional support with your application, or any adjustments, please click the following link: Application Support.