The Risk Function is a prominent stakeholder in the business process of CNA Hardy. The Function reports into the CRO, with governance over the risk management framework provided by the Risk Committee.
The key responsibilities of the Risk Function are:
- Provide strategic risk management input on initiatives across the business.
- Development of the risk management culture and analytic capabilities within the business.
- Improve business results and capital utilisation through the application of risk management techniques.
- Perform key risk management duties as they pertain to regulatory requirements including Solvency II.
The role is to support the development and maintenance of an enterprise-wide risk management framework, through liaising with business leaders, discussing and challenging risks with risk owners and ensuring controls are appropriate.
The jobholder would perform a key role with considerable career development potential within the Risk team of CNA Hardy.
Key Responsibilities
- Assist in identifying risks and ensuring all risks are quantified and controlled appropriately with risk owners through the risk identification, assessment, monitoring and reporting processes.
- Analysis of risk appetites and key risk indicators (KRIs)
- Undertake risk assessments with risk owners on specific areas of the business by:
- Ensuring processes and controls are in place and operating to mitigate risks.
- Liaising with business leaders / executive to ensure risk coverage in their areas.
- Recognising control issues and failures.
- Assist in monitoring risk appetites, and KRIs.
- Identifying and monitoring emerging / developing risks.
- Engage in, and drive, risk mitigation activities for risk and control improvement or remediation.
- Support the establishment and maintenance of a risk governance structure, risk documentation and risk culture through training exercises and risk effectiveness reviews.
- Assist in the production, maintenance, and development of management information for the Risk Committee, other committees, and Board.
- Support the ORSA process, in particular the development of stress scenarios and reverse stress tests.
- Contribute to the progress of key company’s initiatives such as ESG, CSRD, etc.
- Comply with all applicable legal and regulatory requirements and ensure, at a level appropriate to the position, that appropriate measures are in place to ensure this compliance.
- Complete all necessary training and development to enable fulfilment of role.
- Maintain risk management records accurately and efficiently.
Skills, Knowledge & Abilities
- Strong presence and ability to interact at management level with effective communication, influencing and rapport building skills.
- Strong communication skills and the ability to work well with other disciplines.
- Strong understanding of Enterprise Risk Management including undertaking and managing Risk, Control Self Assessments.
- Commercial mindedness with a good understanding of insurance business activities and the drivers of profit and loss.
- Working understanding of business objectives and the industry in general.
- A practical understanding of underwriting disciplines, processes, and risk.
- Good understanding of risk management and governance framework and how own role fits into it.
- Intellectual curiosity and good understanding of interrelation of risks.
- Ability to adapt risk management applications and approaches to a range of standard and specialised products.
- Good appreciation of company governance and regulatory requirements and deep industry knowledge.
- Appropriate knowledge of all relevant regulatory and legal requirements applicable to the position.
- Demonstrated organisational skills and numerical skills. Mathematical and analytical ability / statistical knowledge
- Systems knowledge and confidence (Microsoft Office)
- Highly developed risk management skills with good knowledge of processes from risk identification through to risk mitigation.
- Advanced degree and/or professional qualification.
- General Insurance and / or Lloyd’s market experience.
- Knowledge and understanding of the regulatory landscape and emerging regulatory requirements.
- Strong IT literacy.
The Company
CNA Hardy is a leading specialist commercial insurance provider for clients within the Lloyd’s and company markets. We offer a highly specialised and comprehensive portfolio of innovative and market leading products. Coverage is available to businesses of all sizes for domestic, international and global exposures.
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About Us
We are a leading specialist commercial insurance provider for clients of all sizes with both domestic and international exposures. Writing across both company and Lloyd's platforms offers our brokers the flexibility to find the best solution for their clients in more than 200 countries and territories worldwide. Find out more about ourLloyd's Syndicate 382.
Our clients trust us because we understand the risks they face. Our teams on the ground have the local expertise and authority to provide fast, effective solutions for our clients across our network of dedicated offices in Belgium, Denmark, France, Germany, Italy, the Netherlands and the UK (Birmingham, Glasgow, Manchester and London).
Whether it’s our expert underwriters, risk control engineers, claims managers or international solutions team, we work in partnership with our brokers to deliver our highly-specialised and comprehensive portfolio of innovative and market-leading products in response to emerging exposures and ever-changing needs.
CNA Hardy is part of CNA Financial Corp, one of the largest U.S. commercial property and casualty insurance companies. Trusted for more than 125 years, CNA provides a broad range of standard and specialised insurance products and services for over 1 million businesses and professionals across the U.S., Canada and Europe.
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