Senior Manager, Financial Risk Job Code:
1134966 Skill Band:
Risk Management Location:
United Kingdom - London Type:
Permanent Date Posted:
29 May 2019 Senior Manager, Financial Risk One Lime Street, London About Us
All roles within Lloyd's have an integral part to play in the achievement of the Strategy and Vision 2025:
Lloyd's becoming a brand that is globally admired and recognised and respected for its reputation as the world's specialist centre for (re)insurance. Lloyd's will be known around the world for its integrity and will be a place where talented, diverse and socially responsible employees feel proud to work. This leadership role will practice and promote the principles of inclusive leadership and respect the value of diversity.
The Risk Management team is critical to Lloyd's achieving its long term aims by ensuring risks to the strategy are effectively identified, assessed and managed within risk appetites set by the Franchise Board. The Role
The role has accountabiltly for ensuring the effective management of the financial risks faced by Lloyd's, in particular the risks arising from the syndicates and members operating in the Lloyd's market.
In addition the role is also accountable for the governance and ongoing assessment of the Lloyd's Internal Model (LIM) to ensure its validity in line with the Lloyd's risk profile. What Will You Do?
What You'll Need
- Identify, assess and review the financial risks faced by Lloyd's.
- Provide robust risk oversight and challenge to the functions responsible for managing financial risks, making recommendations for improvements in the control environment where necessary.
- Develop and maintain strategic relationships with the C-suite and Heads of business functions. Proactively influence the Senior Stakeholders in ensuring the effective management of financial risks for which they retain accountablility. On behalf of the Risk Managment team, lead on all interactions and inititives between the LIM, risk management and LIM governance frameworks
- To design and implement an effective governance framework for the LIM, ensuring there is appropriate oversight in place so that Lloyd's continues to meet Sovency II regulatory requirements
- Ensure Lloyd's senior stakeholders have transparency over progress and issues related to the LIM
- To manage the LIM Change process. Ensure that the assessment and governance of changes to the LIM takes place in an effective and efficient fashion and in accordance with Solvency II regulations.
- Ensure internal stakeholders and the PRA are informed of developments in respect of LIM Change
- Accountable for delivery of all LIM interaction areas owned by Risk Management: capital elements of the ORSA (including setting central economic capital), Use Test (including Franchise Board training), stress testing (including to support validation of the LIM)
- To ensure the Risk Management team responds effectively to required or recommended improvements to the LIM interaction areas referenced above, including from Internal Audit, LIM Validator, Lloyd's regulators, independent reviews or internal self-assessments
- To build and maintain good relationships with all relevant Corporation departments, including 'Heads of' functions where appropriate. Most notably, building strong relationships with the Chief Finance Officer, Lloyd's Actuary and the wider actuarial team is critical
- To respond with agility to requests (i.e. adhoc projects) from the Chief Risk Officer or Head of Risk Management
As the successful candidate, you can expect to be rewarded with a competitive salary, an enviable range of benefits.
- Demonstrable actuarial and technical risk management skills are eseential to be able to define and shape industry leading risk management tools which are tailored to the unique Lloyd's business model as well as satisfying regulatory requirements.
- Numerate/enhanced analytical skills this role is focussed on the Lloyd's Internal Model therefore the ability to apply technical knowledge in a wide variety of situation in both written and oral form, to assess sometimes complex, intricate and lengthy information and reach appropriate conclusions.
- Effective leadership skills to recruit, develop and retain a high performing, motivated team to deliver consistently excellent risk management deliverables. The Risk Management team has a culture of continuous improvement and as a leader within the team this role is expected to contribute to the ongoing self-assessment and improvement of the function
- High degree of stakeholder management and relationship skills to build relationships with a range of senior stakeholders and in particular with the PRA. This will include an ability to actively influence at Executive and Board levels with a confidence to deliver the right risk outcomes at senior levels of the organisation.
- Excellent analytical skills and be able to effectively 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 also be able to take ownership of tasks and projects whilst often working remotely and without supervision
- Challenge ability to productively challenge technical experts across Lloyd's and be robust/resilient under scrutiny
- Advanced 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.
- Strong project management skills to lead and deliver change within areas of responsibility (for example following changes in the regulatory environment)
- Expert knowledge of: Risk management and Solvency II requirements and Capital modelling / managementFinancial Risk inclusive of core insurance risk
- Good understanding of the insurance industry and the Lloyd's market
- Strong understanding and confidence in utilising leadership and management skills
- A fully qualified actuary with expert experience of capital models including their use, governance, validation and improvement
- Experience in leading high performing teams to successful risk management outcomes
- Experience in dealing with complex regulatory communication and negotiation
- Experience in managing senior stakeholders including challenging or unsupportive stakeholders
- Experience in managing challenging people management issues
- Strong experience of risk management frameworks, tools and processes
To apply, please visit www.lloyds.com
We are committed to flexible working, therefore if you would like to consider this as a part-time opportunity, please email email@example.com
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