Job Title: Climate Risk Analyst (12-month FTC)
Division: Exposure Management & Climate
Reports To: Head of Financial Climate Risk
Key Relationships: Exposure Management Team, Underwriters, Actuaries, Sustainability Team, Sustainability Reporting Team, Risk Management.
Job Summary: Work closely with the Head of Financial Climate Risk and team members to assess and implement actions to achieve compliance with climate risk regulations, and coordinate climate risk initiatives across business functions. The successful candidate will work with a wide range of business functions to integrate climate methods and initiatives into existing and new business processes. The candidate will work with Risk team to integrate climate risk management into the ERM process and framework. The candidate will also work with Sustainability team and Sustainability Reporting Team on climate disclosures and related activities.
Key Responsibilities
- Support the Head of Financial Climate Risk to assess and implement actions to achieve compliance with the updated PRA climate risk supervisory statement (SS5/25) and other climate risk regulations alike.
- Support the Head of Financial Climate Risk to implement Beazley’s climate risk strategy including through liaising with and coordinating the work of relevant colleagues and/or teams across Beazley.
- Responsible for tracking team projects, actions, ad hoc requests and papers to ensure compliance with all deadlines.
- Assist with planning the agenda, upcoming papers and any strategic projects for the Climate Risk Working Group.
- Draft business case papers for various groups and committees.
- Support and lead risk assessments and analytics for modelling a range of climate risks working closely with Exposure Management teams.
- Support research on climate risks and how it might impact the business, including emerging topics.
- SupportActuarial functions for considering climate related impacts into pricing, capital and reserving.
- Assist with developing and implementing climate scenario analysis, including physical, litigation and transition risk scenarios.
- Assist with integrating climate into business processes, including and not limited to functions such as Underwriting, Investments, and Operations. Engage with Underwriters as required, particularly ESG leads across each underwriting division.
- Work closely with the Risk team to manage and integrate climate risk management into the ERM process and framework.
- Work closely with Sustainability team and Sustainability Reporting team on climate disclosures, e.g. TCFD (Task Force on Climate-Related Financial Disclosures).
- Assist with developing climate risk training and material to key areas of the business as required by the Head of Financial Climate Risk and/or the Head of Catastrophe & Research.
- Assist with establishing and/or strengthening links to external peers and experts such as academic and scientific communities.
- Engage with brokers and reinsurance partners on projects and deliverables as required.
General
It is important that within all your interactions both internally and externally you adhere to Beazley’s core values - Being Bold, Striving for Better, and Doing the Right Thing – as they contribute to an internal environment of teamwork and promote a positive brand image and experience to our external customers. We also expect Beazley employees to:
- Comply with Beazley procedures, policies and regulations including the code of conduct.
- Undertake training on Beazley policies and procedures as delivered by your line manager, the Culture & People or assurance teams (compliance, risk, internal audit) either directly, via e-learning or the learning management system.
- Display business ethics that uphold the interests of all our customers.
- Ensure all interactions with customers are focused on delivering a fair outcome, including having the right products for their needs.
- Comply with any specific responsibilities necessary for your role as outlined by your line manager, the Culture & People or assurance teams (compliance, risk, internal audit) and ensure you keep up to date with developments in these areas. This may include, amongst others, Beazley’s underwriting control standards, Beazley’s claims control standards, other Beazley standards and customer relationship management.
- Carry out additional responsibilities as individually notified, either through your objectives or through the learning management system. These may include membership of any Beazley committees or working groups.
Personal Specification:
Skills & Abilities
- Accurate and numerate
- Strong analytical skills with attention to detail
- Ability to communicate effectively with various stakeholders, both verbally and in writing
- Ability to manage time, meet deadlines and prioritise
- Ability to manage workflow of team based on incoming requests.
- Team worker as well as able to work on own initiative
- General commercial and financial knowledge
Knowledge & Experience
- Insurance experience
- Strong understanding of regulatory requirements on climate risk
- Strong understanding of climate risk & related models and concepts
- Knowledge of climate ligation and transition risk desirable
- Experience with climate risk scenario analysis and stress testing desirable
Aptitude & Disposition
- Outcome focused, self-motivated, flexible and enthusiastic
- Sees solutions not problems
- Interested in understanding and helping others
- Professional approach to successfully interact with senior management/colleagues/external suppliers
Competencies
- Accuracy
- Information seeking
- Concern for quality
- Customer focus
- Initiative
- Self-starter
- Analytical thinking
- Speed and accuracy
- Teamwork
- Technical competence
- Time management
- Integrity
