Risk Manager

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General

Job description and person specification

Job Title: Risk Manager

Location: Birmingham Office

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

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, which incorporates the PRA and FCA 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:

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.
• Experience in the London market and / or US insurance industry
• Experience of working effectively with underwriters
• A strong understanding of the requirements of Solvency II.
• A good understanding of the processes associated with an international insurance group, both from an operational and risk perspective.

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