Risk Manager
Beazley · London
GeneralJob Title: Risk Manager
Key Relationships:
Internally: Head of ERM, Control & Compliance Assurance Team (CCAT), Platform CROs, the wider Risk function, Internal Audit, Compliance, Risk Owners, Control Reporters, Underwriters, Claims and managers of support functions.
Externally: Consultants, auditors and regulatory stakeholders as required.
Job Summary
To support the effective operation and continuous enhancement of Beazley's enterprise risk management framework through independent oversight, challenge, risk assessment, risk reporting and engagement with business stakeholders.
Key Responsibilities
Own and deliver risk reporting, management information, committee papers and action tracking in support of Executive, Board and subsidiary risk governance processes.
Support the annual review, development and embedding of Beazley's Risk Appetite Statement and associated appetite metrics.
Engage regularly with risk owners and senior stakeholders to provide independent challenge and oversight of risk assessments, controls, management information and management actions.
Lead and facilitate periodic risk and control assessments (RCSA), providing challenge to business assessments, overseeing action management and reporting key themes and findings.
Provide second line analysis and challenge of the control environment, including control design adequacy, thematic analysis of control weaknesses across RCSA and assurance outputs, and oversight of remediation, working closely with CCAT, which performs controls testing.
Support the operation of risk acceptance and escalation processes for risks outside appetite or rated red or amber for prolonged periods.
Analyse risk data and trends to identify emerging themes, provide insight and support risk-based decision-making.
Maintain the integrity of risk management data within the GRC platform and support the ongoing enhancement of risk systems, reporting capabilities and management information.
Lead the identification, assessment and monitoring of emerging and evolving risks, considering developments in the external environment, insurance market and business strategy, including supporting the Emerging Risk Working Group.
Support the preparation of second line risk opinions on strategic initiatives, change programmes and transactions.
Support Platform CROs in the development and maintenance of platform-specific ORSA processes and documentation where required.
Support regulatory reviews, requests and risk management documentation as required.
Support the development of a strong risk culture through stakeholder engagement, training, risk assessments and promotion of effective risk management practices.
Support the continuous enhancement of enterprise risk management processes, methodologies and governance arrangements.
Participate in project work and strategic initiatives as required.
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.
Experience & Technical Skills
Experience within enterprise risk management, operational risk, internal controls, audit or related disciplines within insurance or financial services.
Experience facilitating risk and control assessments and providing constructive challenge to business stakeholders.
Experience preparing risk reports, management information, committee papers and presentations for senior audiences.
Experience supporting risk governance processes and committee structures.
Experience of control effectiveness reviews, control design assessment or control improvement programmes.
Strong understanding of enterprise risk management frameworks, risk appetite and governance practices.
Experience analysing risk data and identifying trends, themes and risk insights.
Advanced Excel skills, including data analysis and manipulation.
Experience using Power BI or similar data visualisation and reporting tools.
Strong report-writing skills.
Experience using technology, automation or AI-enabled tools to improve analysis, reporting or risk management processes.
Personal Attributes
Strong stakeholder management and influencing skills.
Ability to build trusted relationships across all levels of the organisation.
Ability to provide constructive challenge whilst maintaining positive working relationships.
Excellent written and verbal communication skills.
Strong presentation and workshop facilitation skills.
Ability to communicate complex issues clearly and concisely.
Strong organisational and prioritisation skills.
Analytical, inquisitive and solution-oriented mindset.
Collaborative approach and ability to work effectively across functions.
Self-motivated with a continuous improvement mindset.
Essential Criteria
Experience within enterprise risk management, operational risk, internal controls, audit or related disciplines within insurance or financial services.
Strong stakeholder management, communication and influencing skills.
Strong analytical capability, including experience of preparing risk reporting and management information.
Advanced Excel capability.
Education and Qualifications
University degree and/ or significant experience of risk management in a regulated financial services sector.
Professional qualification in risk management, audit, compliance, accounting or a related discipline (e.g. IRM, CERA, ACA, ACCA, CIA) advantageous but not essential.