Risk Associate - Global Insurer

Woodland Partners are delighted to be working with this long standing, high profile Global Insurer in the search for their new Risk Associate. Reporting into the CRO, this role acts as an Ambassador for risk management, working in close collaboration with all Corporate departments to identify, measure, monitor, manage and report risk throughout the corporate structure.

Operating on an enterprise-wide basis, the Risk Associate will partner with the business to facilitate:

• Maintenance of the risk management framework, engaging directly with risk and control owners, identifying control gaps, designing remedial actions, and appropriately managing risk communications.

Specific responsibilities include:

• Macro-level risks: Help the business to focus its risk management proposition by maintaining an overview of and reporting on leading geostrategic and macroeconomic risks.
• Risk Management Framework: Comprehensive oversight of the risk management framework including the following systems and tools: The Enterprise Risk system, Risk Appetite Statement, Risk Register, Risk Management Strategy & Charter and Risk policies. Collaborating with business stakeholders to embed operational risk management and oversight of the company's operations. Report on risk issues and events at Manager’s committees; draft risk management updates to the Manager’s Board, Support the Group Solvency Self-Assessment (ie ORSA) drafting and editorial process.
• Stress testing: Develop scenarios for selection, discussion, and eventual Board submission. Receive control testing data from internal audit and compliance monitoring reports, updating risk systems accordingly.
• Advisory: Risk management input and advice regarding Operational Resilience arrangements including Important Business Services; Impact Tolerances and their equivalents in regulatory jurisdictions outside the UK. Assist in company-wide project risk assessments and departmental project implementation. Reviewing/advising on risk management arrangements for key outsourcers. Provide risk management training to business users and senior management, as necessary.
• Control: Manage the half-yearly review of internal controls. Monitor, manage and enforce controls, limits, and policy adherence. Systematically enforce risk controls and ensure risk is embedded in the decision-making process. Identify business situations falling outside risk limits and escalate in accordance with the risk governance escalation matrix. Advise, engage, and challenge the business on control processes and failures. Build risk mitigation plans and monitor plan delivery against pre-determined criteria on a regular basis. Manage the emerging risk identification process.

The successful candidate should have the following skillset/experience:

• Candidates should be of graduate calibre or possess suitable industry qualifications or experience with at least 5 years of relevant experience in operational risk management within the financial services industry.
• Technical Skills: Proficiency at an intermediate to advanced level in database management, including experience with MS database software packages. Sound knowledge of UK and European regulatory structures including Prudential Regulation Authority and EIOPA Solvency 2 regulations. Comprehensive understanding of UK and European risk regulatory frameworks, including PRA and EIOPA regulations.