Job profile summary
Responsible for the end-to-end Operational Resilience Test Strategy across Chaucer Group. Lead the operational risk assessments to ensure future viability of Chaucer’s business processes and adherence to Impact Tolerances.
Job Description
- Maintain Chaucer’s Operational Resilience Scenario Library and Test Plan to ensure Chaucer remains within the Impact Tolerances / Service Recovery Time Objectives for each critical or important business service / function, dependent on the underlying regulatory regime.
- Test the tailored exit strategies for material third-party arrangements, to reflect the criticality of the service.
- Ensure Chaucer’s recovery processes and resource availability are sufficiently robust, identify improvements to avoid potential operational bottlenecks or vulnerabilities.
- Document issues identified through testing in the Remediation Tracker, implement measures to resolve and re-test to verify the fix.
- Monitor and report upon the concentration risk associated with people, technology or other resources in the same area, or where several important / critical business services are outsourced to a single supplier which raise threats to future operational resilience.
- Assess incidents and near misses to Chaucer’s business, across the financial sector and other industries to enrich Chaucer’s testing approach.
- Risk assess planned material changes to Chaucer’s business e.g. IT transformation, new activities, ceasing activities, outsourcing a new / existing service to a third-party service provider, or changes to an existing service in terms of scale, policyholder impact etc.
- Work with third-parties to ensure the validity of scenario testing. Ensure the suitability of methodologies, scenarios and considerations adopted by third parties when the third party carries out testing.
- Use test results and incident management information to enhance Chaucer’s capabilities to adapt and respond to future operational events.
- Increase the sophistication of Chaucer’s operational resilience testing approach in terms of depth and breadth, e.g. not limited to the Minimum Viable business, or infrastructure supporting business critical functions.
- Maintain alignment of Chaucer’s Operational Resilience Framework and Risk Appetite, with Chaucer’s Governance, Enterprise Risk Management, ICT Risk, and Third Party-Risk Frameworks.
- Liaise with Chaucer’s Information Security Team to review their Framework and testing. Ensure recovery steps involve scanning all possible networks for potential vulnerabilities, with relevant components patched and ransomware / malware eradicated from all parts of infrastructure before reconnection.
Regulatory responsibilities
- Support the CSL and CIC Board’s to maintain a corporate culture, policies and procedures that pay due regard to the interests of CSL / CIC customers and always treats them fairly. Prepare and submit operational resilience test results, impact tolerance assessments and annual self-assessments to Chaucer Boards and regulators.
Skills and Competencies
- Proven delivery of operational resilience testing, both scenario and live tests.
- Track record of enhancing test methodologies for increased sophistication, including the involvement of third parties.
- Knowledge of the insurance industry, or financial services is beneficial.
- Knowledge of Operational Resilience regulation; for example, UK PRA, CBI, DORA and MAS.
- Quantitative analysis for Impact Tolerance assessments and KPI reporting.
- Qualitative skills for explaining test results, remediations and maintaining procedures / plans.
- Familiar with global Operational Resilience regulations.
- Attention to detail
- Can demonstrate a professional style that fully supports Chaucer’s values
- Proven interpersonal skills
- Excellent organisational and analytic skills
- Proven communication skills and stakeholder management with Senior Leaders
ABOUT US
Chaucer is a leading insurance group at Lloyd’s, the world’s specialist insurance market. We help protect industries around the world from the risks they face. Our customers include major airlines, energy companies, shipping groups, global manufacturers and property groups.
Our headquarters are in London, and we have international offices in Bermuda, Copenhagen, Dubai and Singapore to be closer to our clients across the world. To learn more about us please visit our website.
Chaucer is committed to diversity, actively values difference and respects people regardless of the protected characteristics which are outlined in the Equality Act 2010 (UK legislation) as a result of the Equal Treatment Directive 2006 (EU legislation).
A diverse workforce and an inclusive workplace are core to our success as a business and integral to our winning strategy and culture. We recruit from the widest available pool of talent, and our hiring, assessment and selection process is fair, free from bias and one which ensures we select the right person for the job, based on merit. We are committed to promoting a culture that actively values difference, and recognises that everyone has the right to be treated with dignity and respect throughout their employment.
We are open to considering flexible working arrangements for all roles and encourage you to outline your needs during the interview process.
