Address
Salary General:
Division: Risk Management
Reports To: As per Beazley’s organisation chart
Key Relationships:Internally: Risk Management, Internal Audit, Compliance, Risk Owners, Control Reporters, Underwriters, Claims and managers of support functions. Externally: Regulators.
Job Summary: To facilitate the efficient operation of the risk management framework.Responsibilities:
Risk management framework
Specific
General
Education and Qualifications
Knowledge and Experience
Aptitude and Disposition
Competencies
Job Title:Risk Manager
Division: Risk Management
Reports To: As per Beazley’s organisation chart
Key Relationships:Internally: Risk Management, Internal Audit, Compliance, Risk Owners, Control Reporters, Underwriters, Claims and managers of support functions. Externally: Regulators.
Job Summary: To facilitate the efficient operation of the risk management framework.
Key Responsibilities
Risk management framework
- In line with the three lines of defence principle and the procedures described in the risk management framework document, provide oversight of risk; including:
- Support Beazley’s risk culture across the Group by facilitating regular risk assessments and implementing and maintaining a robust control environment that is owned and documented by the business
- Support the annual review of Beazley’s risk appetite levels
- Provide critical appraisal of the control environment (including risk MI) proposed by the business with reference to the agreed risk appetite and provide recommendations to business units and senior management, ensuring that it is sufficiently granular to allow appropriate risk management reporting
- Maintain the data integrity of the risk register software
- Work with the business to capture new risks (including emerging risks) to reflect the Group’s continued evolution. Review the controls being proposed by the business.
- Arrange appropriate meetings with risk owners and other key individuals with responsibility within the risk management framework.
- Arrange and facilitate the biannual risk assessment, ensuring they are performed and documented
- Prepare risk management reports for appropriate committees.
- Prepare risk management material for internal and external presentations
- Provide risk management induction training to all relevant new joiners or people who have changed role.
- Ensure close collaboration with other Risk Managers, sharing their workload as appropriate
- Ensure clear and regular communication with internal audit
- Participate in project work as required
- Build and maintain a network of external contacts, including at Beazley’s regulators
- Keep abreast of market best practice and regulatory requirements
Specific
- Oversee the risk assessment framework
- Perform the risk register software rollover
General
At Beazley we are committed to doing the right thing because it is the right thing to do. It is important that within all your interactions both internally and externally you adhere to this principle through adoption of Beazley’s core values and behaviours – PIED and Being Beazley.
- Adopt the Beazley culture of Professionalism, Integrity, Effectiveness and Dynamic that contributes to an internal environment of teamwork and promote a positive brand image and experience to our external customers.
- 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 Talent Management development 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 Talent Management 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:
Education and Qualifications
- University degree
- Professional qualification advantageous
Skills and Abilities
- Strong interpersonal skills
- Able to communicate effectively with various stakeholders, both verbally and in writing
- Ability to negotiate
- Team worker as well as able to work on own initiative
- General commercial and financial knowledge
- The ability to manage time, meet deadlines and prioritise
- Ability to use broad understanding of regulations to implement risk management strategies that are compliant with relevant legal requirements
Knowledge and Experience
- Comprehensive knowledge of risk management tools and disciplines as well as a firm grasp of the commercial drivers and dynamics affecting risk decisions in the insurance sector.
- A good understanding of the processes associated with an international insurance group from an operational risk perspective i.e. coverage of third-party risk, operational resilience, cyber risk and data management
- Has experience working with and is able to operate the key components of a Risk Management Framework i.e. risk appetite, risk and control assessments, risk incidents etc.
- Experience in the Lloyd’s / London market
- Experience of working effectively with underwriters
- A strong understanding of the requirements of Solvency II.
Aptitude and Disposition
- Outcome focussed, 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
- Diplomatic
Competencies
- Information seeking
- Self starter
- Achievement orientation
- Analytical thinking
- Customer focus
- Team working
- Initiative
- Using expertise
- Integrity
- Impact and influence
