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 to recruit a Senior Associate, Financial Risk you will contribute to the management of Financial Risk at Lloyd’s with a particular focus on ensuring that Lloyd’s maintains an appropriate solvency position and balance sheet strength to support its activities and strategic objectives
Principal Accountabilities
To lead, or contribute to as part of the team, the appropriate management, use and oversight of the Lloyd’s Internal Model (LIM).
- Responsible for the governance processes and forums (incl. the Internal Model Oversight Committee) to ensure the LIM activity is appropriately scrutinised and overseen
- Responsible for the ensuring key processes and frameworks relating to the Internal Model remain fit for purpose including Model Change Policy, Governance and Use processes. Where any changes are identified, the role will lead the appropriate governance sign-off including input into Minor or Major Model Change applications
To lead, or contribute to as part of the team, a range of key capital management processes intended to support stakeholders quantify risks relating to Lloyd’s solvency position
- Lead the development of the Capital and solvency sections of the ORSA (annually and quarterly), including future solvency projections
- Co-ordinate Stress and Scenario Testing and Reverse Stress Testing to support key activities such as model validation, ORSA, business plan stress testing and ad-hoc regulatory stress test exercises
- Support with activities in the maintenance of Lloyd’s Recovery and Resolution Planning
Provide risk input into key capital management initiatives
- Work with colleagues in Finance to provide second line support and challenge around capital management strategy and initiatives
- Produce risk opinions to support decision-making by senior stakeholders
- To support other areas of the financial risk team, particularly on the management of investment, liquidity and capital risks
- Provide second line support and challenge of colleagues working on syndicate oversight to ensure oversight activity continues to be risk-based, forward-looking and in line with Principles Based Oversight framework
- Support in the validation of Lloyd’s Internal Model, with a particular focus on the Economic Scenario Generator, Lloyd’s Investment Risk Model and the appropriateness of Market risk component
- Provide ad-hoc input into risk opinions for syndicate new entrants applications
- Maintain view on risks to Lloyd’s financial stability
- To respond with agility to requests (i.e. ad hoc projects) from the Chief Risk Officer or Head of Risk Management
Skills Knowledge and Experience
- Experience in managing stakeholders including challenging or unsupportive stakeholders
- Experience of Solvency II and current trends in UK insurance regulation
- Strong experience of risk management frameworks, tools and processes, including internal models
- UK insurance regulatory regime and requirements
- The operation of insurer internal models and capital modelling techniques
- The insurance industry and the Lloyd’s market
- Financial markets and the role of different asset classes in insurers’ investment portfolios
- Qualified actuary (beneficial)
- The ability to apply technical actuarial and risk management 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.
- High degree of stakeholder management and relationship skills to build relationships with a range of stakeholders. This will include an ability to actively influence colleagues to achieve the right risk outcomes for the organisation
- 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
- Ability to productively challenge technical experts across Lloyd’s and be robust/resilient under scrutiny
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