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- Tasks: Support risk management framework and collaborate with teams on risk assessments and reporting.
- Company: Join a leading firm in the insurance sector, focused on innovative risk solutions.
- Benefits: Enjoy flexible working options, professional development opportunities, and a vibrant team culture.
- Why this job: Be part of a dynamic team shaping risk culture and making impactful decisions.
- Qualifications: 3-5 years in insurance or related field; degree in Risk Management or Business preferred.
- Other info: Opportunity to work on global projects and enhance your skills in a supportive environment.
The predicted salary is between 43200 - 72000 £ per year.
As Risk Manager within the London P&C Risk Management team, directly reporting to the UK P&C Chief Risk Officer and closely collaborating with senior team members, you will proactively support the implementation and continuous improvement of the risk management framework for the UK, Europe and the Syndicate in all risk activities in accordance with the defined Enterprise Risk Management (ERM) framework whilst meeting all regulatory and commercial expectations. This includes assisting the team in the coordination of control environment assessment and monitoring, to meet internal and external requirements in a timely manner.
In this role you will furthermore assist the CRO and team to ensure that the risk management activities are appropriately interlinked with the relevant business and decision-making processes in order to further spread the risk culture across the organization. In addition, you will participate in Group Risk Management projects and analysis spanning various topics, in collaboration with other Risk colleagues from international teams. You might also help other legal entities as needs arise.
Key duties and responsibilities:
- Risk management framework and analyses: In conjunction with our central Operational Risk team, assist the team in analyzing, assessing and monitoring the risk control environment and processes, to meet internal and external requirements for the entities supported by the London P&C Risk Management team as well as other entities. Develop associated documentation, building dashboards and management information using data analytics.
- Assist the team’s management in partnering the business in effective design of key controls to mitigate critical risks, as well as challenge the evidencing and operational effectiveness as well as risk owners’ self-assessments, to ensure operational effectiveness of the control environment and promote risk culture in cross-functional areas.
- Assist relevant business areas/risk owners in the development of key risk indicators to identify and evaluate operational risks and monitor exposures against appetite.
- Participate in risk assessments, as well as reporting via risk registers or dashboards.
- Assist the team in coordinating the development of operational risk and other scenarios to feed into the entities’ models, in coordination with other Risk Management teams and other transverse functions.
Risk reporting and governance:
- Assist the team’s management in preparing and explaining materials for internal risk decisions by senior management and board (and the relevant committees).
- Contribute to external risk reporting and communication to auditors, regulators, supervisory authorities as requested. These activities will be conducted in cooperation with other teams e.g. Operations, Finance.
Other ad-hoc and specific duties:
- Participate in local/P&C/global risk projects and analyses and communicate qualitative and quantitative results effectively, eventually developing a competence and expertise on specific risks.
- Assist the team in the identification, assessment and monitoring of emerging risks and trends to ensure these are addressed within the organization.
- Contribute to ERM trainings and communication for further spreading risk culture within the organization.
- In coordination with other Risk Management teams, support the enhancement and alignment of risk policies, processes and reporting in order to ensure consistency and allow for aggregation at the various levels of the Group.
Required experience & competencies:
- Experience: 3 to 5 years of hands-on working experience in insurance or related field (ideally within Property & Casualty commercial lines (re)insurance, particularly the London Market/Lloyd’s). Knowledge of risk management regulatory principles.
- Personal Competencies and Skills: Strong analytical and challenge capabilities as regards reinforcing internal controls. Well organized and efficient with strong time and project management skills. A team player with ability to deliver results for review in a timely manner, being proactive in managing deadlines including management of dependencies on others, with strong sense of accountability and high quality of outputs presented for review.
- Able to handle and analyze risk and control data, building or enhancing tools for proper management information.
- Self-motivated to learn and identify areas for further self-development as well as to actively share knowledge. Build strong relationships within risk management and other functions, locally and across the Group and the P&C business unit.
- Strong written and verbal skills, concise and accurate communication with stakeholders, focusing on key issues and mitigations.
Required Education:
Bachelor’s degree or higher in Risk Management, Business Administration, Economics, or related field, or equivalent qualifications.
Contact Detail:
The Emerald Group Ltd, Search and Selection Recruiting Team
StudySmarter Expert Advice 🤫
We think this is how you could land ERM Risk Manager
✨Tip Number 1
Familiarise yourself with the Enterprise Risk Management (ERM) framework and regulatory principles relevant to the insurance sector. Understanding these concepts will help you engage in meaningful discussions during interviews and demonstrate your knowledge of the industry.
✨Tip Number 2
Network with professionals in the Property & Casualty insurance field, especially those who work within the London Market or Lloyd's. Attend industry events or webinars to build connections and gain insights that could give you an edge in your application.
✨Tip Number 3
Prepare to discuss specific risk management tools and data analytics techniques you've used in previous roles. Being able to articulate your hands-on experience with these tools will showcase your practical skills and readiness for the role.
✨Tip Number 4
Demonstrate your ability to work collaboratively by preparing examples of how you've partnered with different teams to enhance risk management processes. Highlighting your teamwork skills will resonate well with the collaborative nature of the position.
We think you need these skills to ace ERM Risk Manager
Some tips for your application 🫡
Tailor Your CV: Make sure your CV highlights relevant experience in risk management, particularly within the insurance sector. Emphasise your analytical skills and any specific projects you've worked on that relate to the responsibilities outlined in the job description.
Craft a Compelling Cover Letter: In your cover letter, explain why you're interested in the Risk Manager position and how your background aligns with the company's needs. Mention your experience with regulatory principles and your ability to enhance risk culture, as these are key aspects of the role.
Showcase Relevant Skills: Highlight your strong organisational and project management skills in your application. Provide examples of how you've successfully managed deadlines and collaborated with teams to achieve results, as this is crucial for the role.
Proofread Your Application: Before submitting, carefully proofread your CV and cover letter for any errors or inconsistencies. Clear and concise communication is essential, so ensure your documents reflect this by being well-structured and free of typos.
How to prepare for a job interview at The Emerald Group Ltd, Search and Selection
✨Understand the ERM Framework
Make sure you have a solid grasp of the Enterprise Risk Management (ERM) framework. Be prepared to discuss how you would implement and improve this framework in a practical setting, especially in relation to regulatory and commercial expectations.
✨Showcase Your Analytical Skills
As a Risk Manager, strong analytical capabilities are crucial. Prepare examples from your past experience where you've successfully analysed risk data or developed key risk indicators. Highlight your ability to challenge existing processes and suggest improvements.
✨Demonstrate Team Collaboration
This role requires close collaboration with various teams. Be ready to share experiences where you've worked effectively in a team environment, particularly in cross-functional projects. Emphasise your ability to build strong relationships and communicate effectively with stakeholders.
✨Prepare for Scenario-Based Questions
Expect scenario-based questions that assess your problem-solving skills in risk management. Think about potential risks in the insurance sector and how you would approach assessing and mitigating them. This will show your proactive mindset and understanding of the industry.
