Senior Enterprise Risk Manager
- Recruiter
- Arch Insurance International
- Location
- The City, UK
- Salary
- Competitive salary
- Posted
- 25 Jul 2021
- Closes
- 27 Jul 2021
- Ref
- 2340420596
- Job role
- Compliance/risk
- Sector
- Accounting - Public practice
- Experience level
- Manager
We are looking for an Senior Enterprise Risk Manager to join the team here at Arch to:
Key Tasks & Responsibilities
Risk Management and Reporting
• Facilitate Executive and Board Risk Committees (ERC & BRC). For BRC, work closely with the CRO, Chief Administrative Officer (CAO), Chief Operating Officer (COO), Chief Executive Officer (CEO) and Company Secretary to drive an effective agenda for the BRC and deliver meetings papers to a high standard on schedule.
• Assess the strategic and operational risks that Arch faces across the business and support the CRO in reporting risk exposures to the BRC and key stakeholders.
• Advise the BRC and key stakeholders on the status of operational risks and their controls within the business, including operational resilience and Third-Party issues.
• Provide risk assurance on new initiatives and project proposals.
• Constructively challenge the business on the management of risks and associated risk profiles.
Risk Strategy and risk appetite
• Lead the development of Arch's overarching risk strategy and associated risk appetite framework, leading discussion of risk appetite with Executives, and facilitating the setting of risk appetite statements by ERC and the BRC
• Work with Group and the Business to ensure Arch's risk appetite can be translated into risk appetite metrics for use across the business
Enterprise Risk Management Framework
• Design, deliver and implement a clear Arch enterprise-wide risk framework for the identification, monitoring, reporting and prompt escalation of all risks; work with the Business to ensure that the framework achieves a common approach to risk management and risk measurement across Arch, drive continuous improvement and enhancements to the Risk Framework to ensure it remains for fit for purpose
• Lead the development and roll out of Group wide Enterprise risk policies across the business, annually reviewing the effectiveness of their operation and updating the policies in line with good practice and regulation.
• Inform Arch's Board and Executive team on matters relating to the performance of the risk management framework and suggest areas for improvement.
• Ensure the risk management framework complies with existing and new legislation and that it assists the business in its decision processes.
Operational / Non-Financial Risk Management Framework
• Take responsibility for delivering across AIE a framework for the quantification and validation of its operational and other non-financial risks, and report to Executive and BRC on the assessment of Arch's operational risk capital requirements. In delivering these services, provide technical insights on core operational risks such as Cyber Risk, operational resilience and data management.
• Inform AIE's Board and Executive team on matters relating to the performance of the operational risk management framework and suggest areas for improvement.
• Ensure the operational risk management framework complies with existing and new legislation and that it assists the business in its decision processes.
Own Risk and Solvency Assessment (ORSA)
• Oversee the production of the ORSA report (s) and maintenance of associated policy documentation.
• Complete non-financial risk aspects of the ORSA annual report (s).
• Obtain assurance that AIE has complied with the Solvency II directive.
Operational Resilience
• Ensure that effective and appropriate operational resilience plans are in place and are fit for purpose.
• Support the Operational Resilience lead in educating the business regarding operational resilience and that ownership and responsibilities are fully understood at departmental manager level.
People Management and Development
• Lead, develop and motivate all employees working within areas of responsibility.
• Create a pool of talented individuals that provide succession for the future.
• Mentor staff and conduct performance reviews and contribute to performance feedback for staff
• Work effectively as a team member sharing responsibility, providing support and updating the CRO.
Risk training
• Develop training material on core components of the risk management framework in conjunction with L&D and provide training to the business.
Skills & Experience
• Extensive, practical risk management experience in the London insurance market
• Minimum 7+ years of experience
• Knowledge and experience of risk management frameworks
• Up to date knowledge of the UK regulatory environment
• Excellent liaison and communication skills
• Commercial awareness
• Robust presentation skills and professionalism
• Strong written and verbal communication skills for report writing
• Experience of managing and developing people through effectively supervising, coaching, and mentoring will be required.
• Ability to prioritise and challenge
Qualifications
• Strong academic background at least a 2:1 within a bachelor's degree (or equivalent) in a business, actuarial or finance related degree
• Financial Risk Manager/Professional Risk Manager (or equivalent- e.g. IRM) qualifications (ideally)
The Company
Arch Insurance is a global insurer offering our clients superior coverage and service. We embody the Arch guiding principle of focusing on retaining experienced and talented employees to differentiate us from the rest of the pack. Our group operates from offices in the US, Canada, Bermuda, UK, Australia and South Africa, providing specialty risk solutions to clients worldwide across a wide range of industries. With over ten years of operating history and strong financial ratings, our track record remains solid.
Arch Insurance employs a disciplined underwriting approach and prudent risk selection across all types of business. Our mission is to provide our insureds with superb coverage and claims handling through careful and diligent underwriting of risks and business-friendly solutions. Across our global operations, Arch Insurance employees are ready to meet your needs with professionalism and excellence.
- Provide the Chief Risk Officer with specialist insight and analysis of all non-financial including operational risks impacting Arch Insurance Europe ("AIE") and working closely with the Senior Manager responsible for financial risk to holistically cover all risk types.
- Evolve an integrated Risk Management approach and infrastructure that is commensurate with AIE's business, encompassing the Syndicates, the Platform and subsidiaries.
- Assess, refine and improve the risk architecture, framework and processes across all risk types with a focus on operational / non-financial risk (including identification, management, monitoring and capital assessment).
- Provide support in respect of operational resilience requirements across AIE.
Key Tasks & Responsibilities
Risk Management and Reporting
• Facilitate Executive and Board Risk Committees (ERC & BRC). For BRC, work closely with the CRO, Chief Administrative Officer (CAO), Chief Operating Officer (COO), Chief Executive Officer (CEO) and Company Secretary to drive an effective agenda for the BRC and deliver meetings papers to a high standard on schedule.
• Assess the strategic and operational risks that Arch faces across the business and support the CRO in reporting risk exposures to the BRC and key stakeholders.
• Advise the BRC and key stakeholders on the status of operational risks and their controls within the business, including operational resilience and Third-Party issues.
• Provide risk assurance on new initiatives and project proposals.
• Constructively challenge the business on the management of risks and associated risk profiles.
Risk Strategy and risk appetite
• Lead the development of Arch's overarching risk strategy and associated risk appetite framework, leading discussion of risk appetite with Executives, and facilitating the setting of risk appetite statements by ERC and the BRC
• Work with Group and the Business to ensure Arch's risk appetite can be translated into risk appetite metrics for use across the business
Enterprise Risk Management Framework
• Design, deliver and implement a clear Arch enterprise-wide risk framework for the identification, monitoring, reporting and prompt escalation of all risks; work with the Business to ensure that the framework achieves a common approach to risk management and risk measurement across Arch, drive continuous improvement and enhancements to the Risk Framework to ensure it remains for fit for purpose
• Lead the development and roll out of Group wide Enterprise risk policies across the business, annually reviewing the effectiveness of their operation and updating the policies in line with good practice and regulation.
• Inform Arch's Board and Executive team on matters relating to the performance of the risk management framework and suggest areas for improvement.
• Ensure the risk management framework complies with existing and new legislation and that it assists the business in its decision processes.
Operational / Non-Financial Risk Management Framework
• Take responsibility for delivering across AIE a framework for the quantification and validation of its operational and other non-financial risks, and report to Executive and BRC on the assessment of Arch's operational risk capital requirements. In delivering these services, provide technical insights on core operational risks such as Cyber Risk, operational resilience and data management.
• Inform AIE's Board and Executive team on matters relating to the performance of the operational risk management framework and suggest areas for improvement.
• Ensure the operational risk management framework complies with existing and new legislation and that it assists the business in its decision processes.
Own Risk and Solvency Assessment (ORSA)
• Oversee the production of the ORSA report (s) and maintenance of associated policy documentation.
• Complete non-financial risk aspects of the ORSA annual report (s).
• Obtain assurance that AIE has complied with the Solvency II directive.
Operational Resilience
• Ensure that effective and appropriate operational resilience plans are in place and are fit for purpose.
• Support the Operational Resilience lead in educating the business regarding operational resilience and that ownership and responsibilities are fully understood at departmental manager level.
People Management and Development
• Lead, develop and motivate all employees working within areas of responsibility.
• Create a pool of talented individuals that provide succession for the future.
• Mentor staff and conduct performance reviews and contribute to performance feedback for staff
• Work effectively as a team member sharing responsibility, providing support and updating the CRO.
Risk training
• Develop training material on core components of the risk management framework in conjunction with L&D and provide training to the business.
Skills & Experience
• Extensive, practical risk management experience in the London insurance market
• Minimum 7+ years of experience
• Knowledge and experience of risk management frameworks
• Up to date knowledge of the UK regulatory environment
• Excellent liaison and communication skills
• Commercial awareness
• Robust presentation skills and professionalism
• Strong written and verbal communication skills for report writing
• Experience of managing and developing people through effectively supervising, coaching, and mentoring will be required.
• Ability to prioritise and challenge
Qualifications
• Strong academic background at least a 2:1 within a bachelor's degree (or equivalent) in a business, actuarial or finance related degree
• Financial Risk Manager/Professional Risk Manager (or equivalent- e.g. IRM) qualifications (ideally)
The Company
Arch Insurance is a global insurer offering our clients superior coverage and service. We embody the Arch guiding principle of focusing on retaining experienced and talented employees to differentiate us from the rest of the pack. Our group operates from offices in the US, Canada, Bermuda, UK, Australia and South Africa, providing specialty risk solutions to clients worldwide across a wide range of industries. With over ten years of operating history and strong financial ratings, our track record remains solid.
Arch Insurance employs a disciplined underwriting approach and prudent risk selection across all types of business. Our mission is to provide our insureds with superb coverage and claims handling through careful and diligent underwriting of risks and business-friendly solutions. Across our global operations, Arch Insurance employees are ready to meet your needs with professionalism and excellence.