Job description and person specification
Job Title: Risk Manager - Insurance & Financial Risk - 12 Month FTC
Division: Risk and Compliance
Reports To: As per Beazley’s organisation chart
Key Relationships: Risk, Internal Audit,Compliance, Finance – Investments and Group Actuarial (incl. Capital Modelling, Reserving and Pricing), Ceded Reinsurance, Exposure Management, and Underwriting.
Job Summary: The role will supporta range ofriskmanagementactivities, with a particular focus onthe North American1platform’sinsurance and financial risks.This will involvewritingrisk reports and analysis(including the US Own Risk and Solvency Assessment -ORSA),underwriting and statutory business planning,product development,providing review and challenge of first line processes(including throughrisk and control self-assessments -RCSAs),risk appetite,providing risk opinionson specific risk areas,supporting withtechnical provisions validation,as well as supporting therisk team withthedeliveryofthe wider risk management framework.
This role is most likely to suit anearly/newlyqualified actuary, although we will consider applicants whodon’tquite fit this description. The candidate should have experience in risk.
Key Responsibilities
- Provide challenge of Beazley’s first line processes around insurance and financial risk, including reserving, pricing, capital modelling, business planning, underwriting, outwards reinsurance, exposuremanagementand investments.This should include supporting with RCSAs.
- Support the delivery of theUSORSA, particularly those sections relating to insurance and financial risks.
- Performing the validation of the technical provisions, includingsetting the annual scope, performing thetestingandproducing reports.
- Produce riskreportingto Committees, Boards,stakeholdersand regulators.
- Participate in risk management training for key stakeholders.
- Deliver riskopinions,reviewsofkey risks andhot topics influencing BeazleyNorth America platform’s risk profile, to support reporting to internal and external stakeholders.
- Support the annual review of Beazley’s risk appetite levels.
- Participate in governance over North American entity reserves and capital.
- Maintain strong stakeholder relationships with members of the first line, to help support Beazley’s risk management framework.
- Investigate insurance and financial risk related risk incidents.
- Ensure close collaboration withthe Global risk team’s insurance and financialrisk managers, supporting their workload asappropriate.
- Support withthecontinueddevelopment of thewider risk managementframework.
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 People & Sustainability 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 People & Sustainability 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:
Essential Criteria
- Experience ininsurance / financial risk managementor working as a risk actuarywould be an advantage for this position.
- Knowledge ofUSstatutory accounting principles,National Association of Insurance Commissioners (NAIC), Connecticut Insurance Department and Bermuda Monetary Authorityregulatory requirementsrelated to certain insurance and financial risks, riskmanagementandactuarialprinciples.
- Experience of providing challengeacross any of the following areas would be an advantage: reserving, pricing, capital modelling, business planning, underwriting, outwards reinsurance, exposuremanagementand investments.
Education and Qualifications
- Nearly/newly qualified actuary, although we will consider applicants whodon’tquite fit this description.
Skills and Abilities
- Methodical approach to problem solving, with a high attention to detail.
- Ability to act pragmatically in the face of new challenges and exercise sound judgements based on overall business needs.
- Excellent interpersonal, communication skills, and ability to tailor communication to both technical and non-technical audiences.
- Ability to prepare comprehensivewell writtenreports for internal and external stakeholders.
- Proven project management and organisational skills withtrack recordof delivering projects to strict deadlines.
- Results oriented, with the energy and determination to succeed in a fast-paced environment
- Advancedproficiencyin using Microsoft Office.
Knowledge and Experience
- Experience in providing risk challenge to the firstline andproducing and presenting risk analysistointernal and external stakeholders.
- Interest in gaining a deeper understanding ofinsurance and financialrisk management in the Lloyd’s / London Market.
Aptitude and Disposition
- Outcome focussed, self-motivated,agileand flexible
- Technically innovative, a problem solver and solution builder
- Professional approach to interact successfully with colleagues
- Able to work with multi-cultural and multi-location teams
- Ability to work closely in a team environment and develop productive working relationships
- Willingness to learn and achievement drive
Competencies
- Information seeking
- Problem solving
- Technical expert
- Time management
- Stakeholder management
- Influencing others
- Quality focused
- Initiative
- Customer focused
- Analytical thinking
- Team working
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