Lloyd’s is the world’s leading insurance and reinsurance marketplace. We share the collective intelligence and risk sharing expertise of the market’s brightest minds, working together for a braver world.
Our role is to inspire courage, so tomorrow’s progress isn’t limited by today’s risks.
Our shared values: we are brave; we are stronger together; we do the right thing; guide what we do and how we act. If you share our values and our passion to build a future that’s more sustainable, resilient and inclusive, you’ll find a home at Lloyd’s – build a braver future with us.
Lloyd’s is seeking a highly experienced and forward‑thinking Senior Manager, Financial Risk (Insurance Risk) to ensure the effective management of the financial risks faced by the market. You will be responsible for identifying, assessing and overseeing risks arising from syndicates and members across the Lloyd’s platform, ensuring they operate within the risk appetites set by the Council.
Principal Accountabilities
- Lead the identification and assessment of the financial risks faced by Lloyd’s, in particular underwriting, catastrophe, reserving and reinsurance.
- Provide robust risk oversight and challenge to the functions responsible for managing those financial risks, making recommendations for improvements in the control environment where necessary.
- Lead second line assurance over the effectiveness of Lloyd’s Principles Based Oversight framework, as a key control for managing risks arising from the market.
- Identify and conduct thematic reviews and lessons learned reviews into selected areas of financial risk or Lloyd’s oversight. Implement any recommendations or findings in conjunction with relevant Corporation teams
- Support the production of regulatory submissions, including the ORSA, regular risk monitoring and reporting to management, including reporting to the Risk Committee, escalating heightened risks as required.
- 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 accountability.
- Support the Head of Financial Risk to deliver the relevant areas of the Risk Plan and respond with agility to requests (i.e. ad-hoc projects) from the Chief Risk Officer or Head of Risk Management
- Lead the Insurance Risk team, ensuring appropriate allocation of resource to support delivery of the Risk Plan alongside development and coaching of junior members of the team.
- Contribute to the wider Risk Management team’s view of the risk profile, engaging with the Enterprise Risk Management and Operational Risk Management teams to ensure a joined-up risk management approach.
Skills Knowledge and Experience
- Experience of financial risk management.
- Experience of risk management frameworks, tools and processes.
- Background in dealing with complex regulatory communication and negotiation.
- Experience in managing challenging people management issues.
- Expert knowledge of: Risk management and Solvency II requirements and Financial Risk Management inclusive of core insurance risk.
- Good understanding of the insurance industry and the Lloyd’s market (Desirable).
- 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.
- Good understanding of reserving techniques and concepts to support second line view of reserving risk profile and how it interconnects with other financial risks.
- 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.
- 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
Diversity and inclusion are a focus for us – Lloyd’s aim is to build a diverse, inclusive environment that reflects the global markets we work in. One where everyone is treated with dignity and respect to achieve their full potential. In practice, this means we are positive and inclusive about making workplace adjustments, we offer regular health and wellbeing programmes, diversity and inclusion training, employee networks, mentoring and volunteering opportunities as well as investment into your professional development. You can read more about diversity and inclusion on our website.
We understand that our work/life balance is important to us all and that a hybrid of working from the office and home can offer a great level of flexibility. Flexible working forms part of a total reward approach which offers a host of other benefits over and above the standard offering (generous pension, healthcare, wellbeing etc). These include financial support for training, education & development, a benefit allowance (to spend on our flexible benefits such as gym membership, dental insurance, extra holiday or to partake in our cycle to work scheme), employee recognition scheme and various employee discount schemes.
By choosing Lloyd's, you'll be part of a team that brings together the best minds in the industry, and together with our underwriters and brokers, we create innovative, responsive solutions allowing us to share risk and solve complex problems.
Should you require any additional support with your application, or any adjustments, please click the following link;
https://cleartalents.com/apply/lloyds-msa1645695881
Please note, clicking on this link does not register your application for the vacancy
