Enterprise and Operational Risk Manager at King Price Insurance

Purpose of position:

• Provide leadership and expertise within the risk department, supporting the department head and team.

Responsibilities:

Enterprise risk framework & appetite

• Implement and continuously enhance the enterprise risk management framework aligned to strategy, capital, and performance objectives (incl. common risk language and taxonomy)
• Assist the Head of Risk to define and operationalise enterprise risk appetite and tolerances in collaboration with the business, cascade into policies and strategic decisions
• Assist in reviewing and implementing risk management and related policies

Risk identification, assessment & monitoring

• Facilitate enterprise risk assessments and materiality analyses and maintain the enterprise risk register including key risk interdependencies, concentrations and residual exposures
• Assess significant new products, markets and acquisitions in light of risk considerations
• Implement key risk indicators (KRIs), early‑warning mechanisms, scenario development, stress testing and emerging risk monitoring
• Support the identification, assessment and monitoring of strategic and emerging risks that may impact achievement of business objectives
• Monitor and report on risk appetite metrics and tolerances, including the investigation and escalation of breaches and emerging trends
• Monitor management action plans and risk treatment measures, challenging delays and facilitating appropriate risk acceptance decisions where required

Operational risk & resilience

• Manage and strengthen operational risk management, including Risk and Control Self-Assessments (RCSAs), incident and loss event reporting, remediation tracking, and thematic analysis
• Support enterprise resilience through business continuity, disaster recovery, and crisis management planning, simulations and lessons learned reviews

Governance, reporting & regulatory requirements

• Develop and maintain effective reporting for risk committees and governance forums
• Co-ordinate the ORSA process, including stakeholder engagement, risk assessments, scenario analysis, documentation and liaison with relevant control functions
• Provide input to the Head of Risk on risk appetite breaches and aggregated enterprise risk and capital usage
• Manage the completion of Prudential Authority (PA) annual thematic and non-financial risk questionnaires (ORMAQ, IT risk and cyber)
• Support the oversight of third-party, outsourcing and supplier related risks through appropriate assessment and monitoring processes
• Manage the Junior Operational Risk Associate

Risk culture & development

• Assist in building and sustaining a strong enterprise-wide risk culture through clear accountability, training and awareness initiatives
• Stay abreast of best practice risk management techniques

Requirements:

• Relevant degree qualification (risk management degree/certification such as IRMSA, FRM, PRM or CRISC is advantageous)
• Minimum 8 years' working experience with at least 4 years spent in an enterprise or operational risk role
• Minimum 2 years' short-term insurance experience
• Good understanding of the insurance regulatory environment
• Experience with Solvency Assessment and Management (SAM) and specifically extensive broad-based knowledge and application of the Governance and Operational standards for Insurers (GOI)
• Good and relevant understanding of business processes within the insurance industry
• A sound understanding of ERM principles, processes and philosophy

Skills and Attributes:

• Ability to build and foster relationships at all levels
• Leadership and stakeholder management capabilities
• Approaches work with a continuous improvement mindset
• Ability to demonstrate confidence and professional courage to ask challenging questions, scrutinise assumptions and promote better decision making
• Analytical ability and solution orientated with a strong work ethic
• Forward looking and scenario thinking ability
• Excellent interpersonal skills with strong written and verbal communication abilities
• Work as part of a team, but with individual responsibilities