UK Risk Manager
SKILLS
FULL DESCRIPTION
Summary
To ensure an effective risk management framework is in place across the UK entities, operating as intended, complies with all regulatory and other requirements, and contributes to the overall performance against the annual risk management plan. The role involves drafting risk reports, supporting Own Risk and Solvency Assessments, performing thematic reviews, maintaining risk registers, and liaising with stakeholders.
Key Responsibilities:
- Drafting high-quality risk reports to the Executive Committee (ExCo), UK Risk Committee and UK Boards.
- Support the production of all annual and interim ORSAs.
- Perform deep dives or thematic reviews across a particular risk area or topic.
- Assist with the maintenance and enhancement of the risk and control registers and the Emerging Risks Framework.
- Liaise with key stakeholders as part of the RCSA process.
- Manage the team.
Core Requirements/Qualifications/Skills:
- Strong insurance risk management experience, including ORSA production.
- Minimum 5 years’ experience working in a regulated organisation.
- Clear, concise and accurate work including report writing (e.g., Committee / Board, ORSA).
- Strong analytical, problem solving & critical thinking skills.
- Strong time and project management.
# Role Profile
# Overall role
# Risk Management
To work with the UK Risk Director, Senior Risk Manager and with senior management generally, to ensure an effective risk management framework is in place at all times, across the UK entities, is operating as intended, complies with all regulatory and other requirements and contributes to the overall performance against the annual risk management plan. To drive ongoing enhancements to the Risk Management Framework, identifying and implementing process improvements.
# Risk Committee / Board Reporting
Drafting of high-quality risk reports to the Executive Committee (ExCo), UK Risk Committee and UK Boards.
# Own Risk and Solvency Assessments
Support the production of all annual and interim ORSAs, including taking ownership for significant elements of the drafting.
# Thematic and Deep dive reviews
Perform deep dives or thematic reviews across a particular risk area or topic and produce risk Memorandums that are reported to senior stakeholders. This includes supporting the wider Acquisition Due Diligence process, including taking ownership for significant elements of the drafting and liaison with the key stakeholders.
# Risk Management Processes
Assist with the maintenance and enhancement of the risk and control registers and the Emerging Risks Framework.
Actively contribute to the Risk Event process
# Risk and Control Self-Assessments (RCSAs)
Liaise with key stakeholders as part of the RCSA process including Quarterly Risk Reviews (QRRs) across various business areas, ensuring risks and key controls are effectively evaluated, challenged and documented in the Governance, Risk and Compliance (GRC) software.
# Manage the team
Assist the UK risk team with the day-to-day management of the Risk team including training where required.
# General
Have an awareness and understanding of insurance regulatory requirement including Data Protection legislation, the Data Protection Act and the General Data Protection Regulations.
# Direct Reports
Within UK Risk Function: Risk Admin Associate
[Assists in managing the senior risk associate]
# Internal Relationships
• Other RiverStone entities’ risk team
• Committees, ExCo and Senior managers
• Close liaison with all departments on a regularly basis including Claims, Operations, IT, Finance, Compliance and Actuarial
# External Relationships
PRA/FCA
Lloyd’s
External Auditors
External Consultants
Risk Register Vendors / Software supplier
# Authority to Act for the Company
N/A
# Conduct Rules
The regulatory Conduct Rules set minimum standards of individual behaviour in financial services:
• You must act with integrity
• You must act with due care, skill and diligence
• You must be open and cooperative with the FCA, the PRA and other regulators
• You must pay due regard to the interests of customers and treat them fairly
• You must observe proper standards of market conduct where applicable
# Conduct Standards
All employees are expected to abide by the RiverStone Code of Conduct
# Competence – Experience
• Strong insurance risk management experience, including ORSA production. • Minimum 5 years’ experience working in a regulated organisation • Insurance / legacy insurance experience would be ideal • Strong operational and IT risk experience would be preferred
# Knowledge
• Familiar with Lloyd’s rules and principles
Knowledge of PRA/FCA regulations applicable to our business Good knowledge of Governance and risk management theory Good knowledge of Solvency II
# Skills
Clear, concise and accurate work including report writing (e.g., Committee / Board, ORSA)
Strong analytical, problem solving & critical thinking skills
Clear (verbal and written) presentational and communication skills
Appropriate review and challenge with the business
Strong time and project management
Broad knowledge of business and market activity
Ability to work under own direction to agreed plan
Self-motivated and intuitive with the desire to learn
Organised with the ability to multi-task deliverables
Good administrative and IT skills
Team player, good interpersonal skills
Strong coaching skills and able to deliver constructive feedback
Application of internal control principles and risk management
Professional mindset / curiosity