Senior Risk Manager in London

This career opportunity is available at Santam Syndicate 1918 for a Senior Risk Manager who will be based in the UK & have right to work in the UK.

WHAT WILL YOU DO?

To lead the development and execution of the risk management framework, ensuring effective risk identification, mitigation, reporting, and regulatory compliance for the Santam Syndicate 1918.

WHAT WILL MAKE YOU SUCCESSFUL IN THE ROLE?

• Key responsibilities:
• Risk framework and Governance: Develop, maintain and enhance the syndicate’s Risk Management Framework (RMF) in line with Lloyd’s Principles for Doing Business. Collaborate with Asta on the operation of the Risk Committee. Coordinate the risk event and issue management process, including root cause analysis and lessons learned. Identify and mitigate emerging risks. Develop, maintain and evolve the Syndicate Risk Register; challenging ratings and escalating to CRO where appropriate.
• Risk appetite and Monitoring: Perform annual update and cascade of Syndicate Risk Appetites, including translation into metrics and thresholds. Monitor risk exposures against thresholds and deliver clear MI and dashboards to senior stakeholders and board.
• ORSA and Stress Testing: Contribute to stress tests and validation processes for Capital Models. Work with Asta to the Own Risk and Solvency Assessment (ORSA), including scenario design, aggregation, and narrative drafting. Develop and monitor stress and reverse stress testing frameworks. Link outputs to strategic planning, reinsurance structure, and capital requirements. Assist in preparing validation reports for regulatory compliance.
• Regulatory engagement and Assurance: Support responses to Lloyd’s and FCA/PRA requests, thematic reviews, and CPG maturity assessments. Work with internal audit and second line to test control effectiveness and risk culture. Ensure risk policies are reviewed, documented, and aligned with industry good practice.
• Risk Culture: Partner with business functions to promote risk awareness and ownership. Lead or participate in risk training sessions, deep dives, and thematic reviews. Drive continuous improvement of risk tools and reporting.
• Stakeholder Collaboration: CRO and Compliance, Legal and Audit teams, UK business units and senior leadership, Regulatory authorities (as required).

QUALIFICATIONS AND EXPERIENCE:

• Degree in Risk Management, Actuarial Science, Finance, or Business
• Professional qualification (e.g., IRM, CERA, FIA/FFA) preferred
• Minimum 5 years in risk management
• Experience of the Lloyd’s market.

KNOWLEDGE AND SKILLS:

• Risk analysis and scenario planning
• Understanding of regulatory frameworks
• Strategic thinking and influence
• Communication and reporting skills
• Stakeholder engagement

PERSONAL ATTRIBUTES:

• Drives results
• Attention to Detail
• Follow up and follow through
• Analyses
• Deciding and initiating action
• Leading and supervising
• Collaborates
• Client focus
• Strategic decision making
• Analytical thinking
• Influencing/ gaining commitment
• Business acumen

WHO WE ARE:

Santam syndicate 1918 is a new wholly owned and capitalised entity of Santam Insurance, the largest insurance company in South Africa with a 107-year heritage. 1918 is strategically important in expanding and developing Santam’s international footprint, through access to the London market talent, distribution network and Lloyd’s global insurance and reinsurance licenses. Our syndicate is a London managed and run business, with a strong, experienced leadership team, focused on underwriting discipline, whilst allowing our teams to feel empowered and accountable for their actions. We are building a collaborative team where underwriting, claims, actuarial and other functions work closely, to help achieve superior underwriting results.