Job Description
City: City of London, Greater London
State: London; England
Company: The Emerald Group Ltd, Search and Selection
Main Purpose of the Role:
As a risk manager you will leverage your strong quantitative and qualitative skills to enhance and embed the risk management framework. Collaborating with senior leadership and contributing to global risk initiatives, you will play a crucial role in supporting risk governance, reporting, and internal control processes.
Context of the Role:
As part of a focused Risk team of three, this role offers broad exposure across the business and opportunities for professional development. You will be involved in a wide range of activities that includes internal model validation, ORSA, and regulatory deliverables, while working closely with actuarial, underwriting, and other core functions. The position also involves regular interaction with group-level stakeholders and supports both local and Group-wide risk initiatives.
Key Responsibilities:
Internal Model Validation:
- Lead and manage the full lifecycle of the internal model validation process, including planning, execution, documentation and reporting, ensuring its independence, robustness, and adherence to regulatory requirements
- Proactively identify topics and areas requiring in-depth assessment
- Undertake the identified deep dives to analyse these areas and deliver the report to the appropriate governance forums (Risk Committees and Board)
Own Risk and Solvency Assessment (ORSA):
- Contribute to the full ORSA lifecycle, including he development, execution of stress and scenario testing stress and scenario testing, business planning analysis, and risk profile assessments and the documentation of such activities
Risk Management Framework & Governance:
- Actively contribute to the maintenance and enhancement of the risk management framework through systematic review, analysis, testing, and reporting on risk and control evaluations
- Contribute to group-wide risk projects and regulatory deliverables, such as Group Risk & Control Assessments, Group Scenario Testing and Group Deep Dives
- Facilitate risk assessments across the Group, including the analysis of current mitigations to key risks, identification of emerging risks, root cause analysis, and scenario analysis, reviewed against risk appetite statements and tolerances
- Support the annual cycle of risk and control assessments
- Support the preparation and delivery of insightful and timely risk reports for internal stakeholders (Risk Committees and Board) and external regulatory bodies (Lloyd’s and PRA)
Actuarial & Loss Modelling Liaison:
- Collaborate effectively with the Actuarial & Loss Modelling Function to ensure that modelled risks are thoroughly understood and effectively embedded within the broader risk management system
Stakeholder Management & Challenge:
- Build and maintain effective relationships with a variety of stakeholders across all business and service units, providing risk management guidance, challenge, and consultation
- Provide robust and independent challenge of underwriting, loss modelling & actuarial activities
Training & Development:
- Undertake regular training and development initiatives for colleagues to enhance awareness and understanding of risk management principles and practices
Competencies:
Communicating, Negotiating & Influencing:
- Excellent oral and written communication skills, with the ability to articulate complex risk matters clearly and concisely to various audiences
- Experience in presenting and communicating effectively at Committees, Boards, or similar forums
- Proven ability to tactfully and appropriately question and challenge the business at all levels (including Senior Management and Directors) and present considered and balanced risk opinions, findings, and recommendations
Teamwork & Interpersonal Skills:
- Highly developed interpersonal skills, fostering collaborative working relationships across diverse teams
- Friendly, approachable, and professional demeanour
Results Orientation & Execution:
- Excellent planning and organisation skills, with the ability to manage multiple tasks effectively and drive projects to completion, demonstrating a proactive approach to problem-solving and task management
- Strong ability to prioritise workload and meet deadlines
- Attention to detail and a commitment to accuracy
- Ability to work independently, taking responsibility for meeting deadlines and ensuring work is to a high standard
- Ability to work under pressure
- A strong focus on completing activities to meet internal and external reporting deadlines, with a pragmatic and solutions-oriented approach and a commitment to developing collaborative relationships with business stakeholders
Problem Solving & Analytical Skills:
- Demonstrates initiative in identifying and addressing issues, performing thorough analysis, and developing effective solutions
- Adopts a pragmatic and proportionate approach to problem-solving
- Ability to work effectively with minimal supervision
Experience & Qualifications:
- Proven experience in risk management within the general insurance industry, ideally with a strong understanding of actuarial principles gained through previous actuarial roles (e.g., pricing, reserving) or close collaboration with actuarial teams
- Experience within the Lloyd's Market is highly desirable
- Broad understanding of the current risk management environment and awareness of key developments in risk management best practice
- Technical understanding of insurance risk principles and practices
- Experience in preparing high-quality reports and presentations for Senior Management, Committees, and Board review
- Relevant professional qualification (e.g., CII, IRM, IFoA) or a relevant university degree is required
