At a Glance
- Tasks: Support insurance risk analysis and provide insights for better decision-making.
- Company: Join a leading specialty (re)insurance group with a focus on innovation.
- Benefits: Professional growth, visibility in the industry, and impactful work opportunities.
- Other info: Dynamic role with opportunities to enhance your career in a supportive environment.
- Why this job: Make a real difference in risk management while collaborating with diverse teams.
- Qualifications: Degree in Mathematics or related field; strong analytical skills required.
The predicted salary is between 60750 - 74250 £ per year.
We are looking to appoint a Senior Risk Analyst to support a growing insurance and underwriting risk team in a specialty (re)insurance group. Our vision for the team is to turn risk information into clear, practical insight that helps management make better decisions. This role offers visibility, professional growth, and opportunity to make an impact within a second-line risk environment. The role is varied and multi-faceted. It provides analytical support across a broad range of insurance and underwriting risk activities, helping to ensure that risk exposures are identified, monitored and reported effectively. You will work closely with stakeholders across the business, including Underwriting, Capital Modelling, Reserving, Pricing, Exposure Management, Portfolio Management and Outwards Reinsurance teams. Overall, the role will support the existing capabilities of the team across reporting, governance, monitoring and review activities.
Responsibilities will include:
- Risk appetite, metrics, and reporting
- Support the annual risk appetite refresh work and monitor risk appetite, limits, and key risk indicators for quarterly reporting, monitoring and onwards Board governance
- Support the production of quarterly Insurance & Underwriting Group Risk reports, including dashboards for Board and leadership team risk reporting, and strategic risk reporting
- Support the identification and assessment of strategic and emerging risks, including their potential impact on underwriting activities, exposures, and portfolio resilience
- Model governance, Own Risk and Solvency Assessment (ORSA), business planning and insights
- Support model governance, model change activities, and targeted validation of key models, working with external validators where relevant, and assist with the tracking of agreed actions and recommendations
- Support Business Unit (BU) risk teams with activities feeding into ORSA processes, including scenario analysis and stress testing
- Support the analysis and information gathering activities that contribute to the second-line review of the business plan
- Support the team with the production of risk opinions, risk insights, and other thematic / deep dive reviews
- Partnering, challenge and ways of working
- Build relationships with first-line stakeholders and local Risk teams
- Support the continued development of the Insurance & Underwriting Risk team’s capability across the Group by suggesting and helping to implement improvements
- Build knowledge of the specialty business, its classes and portfolios, and contribute to team training and knowledge-sharing sessions
Skills and Experience:
Essential
- Strong technical foundation in Pricing, Reserving, Capital modelling, Exposure Management, Portfolio Management, or other related discipline.
- Knowledge of the specialty (re)insurance market and its key classes of business
- Ability to identify the “so what”, and clearly articulate it
- Mindset: curiosity, collaboration, and continuous improvement
- Communication: concise papers and confident engagement with stakeholders at all levels, including senior colleagues
- Strong analytical and numerical skills applied to insurance and underwriting risks, with the ability to interpret information and draw meaningful insights.
Desirable
- Prior experience in a first-line technical role, requiring quantitative analysis
- Understanding of the second-line role within an organisation.
- Interest in using AI-enabled tools and other technology to improve analysis, insight, workflow efficiency and ways of working.
- Comfortable working on qualitative topics, such as governance, controls and underwriting culture, as well as quantitative analysis.
Qualifications
- Degree in Mathematics, Statistics, Actuarial Science, or other related discipline.
- Progress towards a relevant professional qualification (actuarial or equivalent) would be advantageous.
Insurance & Underwriting Risk Senior Analyst employer: vavemga
Canopius is an exceptional employer that fosters a collaborative culture and values practical innovation, making it an ideal place for Business Analysts looking to make a meaningful impact. With a focus on employee growth and development, you will have the opportunity to deepen your analysis skills while working on high-impact transformation initiatives in a supportive environment. Located in Manchester, the hybrid work model allows for flexibility, ensuring a healthy work-life balance while contributing to significant business improvements.
StudySmarter Expert Advice🤫
We think this is how you could land Insurance & Underwriting Risk Senior Analyst
✨Dive Into Industry Networking Events
Get your foot in the door by attending insurance industry events and conferences. Not only will you learn about the latest trends, but you'll also meet potential employers and industry peers. Check out local chapters of professional bodies like the Chartered Insurance Institute for valuable meetups.
✨Use LinkedIn to Your Advantage
Don’t underestimate the power of LinkedIn in the insurance world. Engage with industry content, join relevant groups, and connect with professionals at companies you admire (like vavemga). A thoughtful message explaining your interest can really make a difference!
✨Look Out for Graduate Schemes
Many firms in insurance have structured graduate programmes. Keep an eye on application windows and utilise your university's career services for insider tips. These schemes are designed to develop talent and often lead to permanent roles after your initial training.
✨Leverage Your Current Connections
Got friends or family in the industry? Now’s the time to reach out! Personal referrals can give you a head start, so let them know you're on the lookout for full-time opportunities at places like vavemga. Don’t shy away from asking for a coffee chat; you never know what doors it might open!
We think you need these skills to ace Insurance & Underwriting Risk Senior Analyst
Some tips for your application 🫡
Highlight Your Analytical Skills:In insurance, we love a candidate who can crunch numbers and analyse data effectively. When crafting your CV, make sure to showcase any relevant coursework or experiences that highlight your analytical abilities, especially if you’ve tackled risk assessment or financial modelling.
Showcase Industry Knowledge:Don’t be shy about your knowledge of the insurance sector! We want to see that you've done your homework on current trends, regulations, and challenges in the industry. Mention any relevant projects or studies you’ve completed that demonstrate your understanding of the field in your cover letter.
Craft a Compelling Cover Letter:Your cover letter should tell us why you’re passionate about insurance. Share any personal experiences or what drew you into this profession. We’re looking for enthusiasm and a clear motivation for why you want to be part of our team at vavemga.
Tailor Your CV for the Role:Don't just send a generic CV! Focus on tailoring it specifically for the insurance role at vavemga. Highlight relevant skills such as risk management, customer service experience, or any certifications you've earned in the industry to make your application stand out.
How to prepare for a job interview at vavemga
✨Know Your Numbers: Insurance Fundamentals
Brush up on your understanding of key insurance concepts, like underwriting principles and risk assessment. Expect the interviewer at vavemga to throw some technical questions your way, so be ready to demonstrate your grasp of these essentials.
✨Showcase Your Analytical Side
In the insurance world, it's all about data. Prepare to discuss any analytical tools or methodologies you've used in past experiences. If you have a portfolio of projects where you've tackled complex data, bring that along to impress the team!
✨Prepare for Behavioural Questions
As a full-timer at vavemga, they'll want to know how you handle real-life scenarios, not just theory. Think about challenges you've faced in teamwork or customer service, and how those experiences can relate to a career in insurance.
✨Know the Company Culture Inside Out
Understanding vavemga's values and workplace culture is essential. Don’t just memorise their mission statement; think about how your personal values align with theirs. This will show your genuine interest in being part of their team long-term.
