Senior Group Risk Analyst

1 month ago


Alton, United Kingdom Avencia Consulting Services Full time
Senior Risk Analyst

London, Hybrid

£excellent + bonus + excellent benefits

The Role

The primary purpose of the role is to support the Group Chief Risk Officer in the continuous development, maintenance, effective operation and embedding of the risk and capital management, monitoring and reporting framework.

In addition to core risk monitoring and reporting responsibilities, the role holder will contribute to the Group's ongoing capital and risk modelling development and regulatory reporting providing opportunities for exposure over and above that typically provided by a more traditional risk management role.

Key Accountabilities

Risk Framework

Support the continuing development and embedding of the Group's Risk, Capital & Solvency Management Framework and supporting processes (e.g. risk appetite, operational risk register, emerging risk register, business impact assessments etc.)
Maintain and update the supporting risk management policies and procedures so that they remain consistent with the evolution of Fidelis's processes and regulatory requirements including, but not limited to, those relating to Solvency II
Support the Risk Management function and other functions in the development and delivery of appropriate training materials, education and consultancy to ensure risk and capital management remains effectively embedded
Act as a subject matter expert to support the business in interpreting and intelligently applying the principles and requirements underpinning the Solvency II regime Risk Monitoring

Coordinate and support the process for identifying, monitoring and managing Operational Risk across the business's entities including facilitating and attending the quarterly risk reviews with Risk and Control Owners
Support the analysis and management of Intrinsic Risk (Underwriting, Investment, Counterparty, Reserving, Liquidity) through liaison with relevant functions including but not limited to the actuarial, finance and catastrophe modelling teams Risk Reporting

Schedule and coordinate inputs from across the business to enable the timely and effective production of the quarterly CRO reports and ad-hoc reports to the Boards and Management committees
Support the production of the Group's annual UK & Irish ORSA, FCR, SFCR reports as well as BMA GSSA, CISSA and FCR reports
Maintain and continuously develop the Group's risk reporting process and associated inputs through close liaison with other business functions
Support ad-hoc requests for risk reporting from internal and external stakeholders including regulators and rating agencies as requiredRisk & Capital Modelling

Provide constructive challenge to key functions in respect of the development and application of appropriate risk metrics and their strategies for the management of risk levels
Assist with the development and operation of the validation framework in respect of the company's 'own' stochastic capital modelling tools embedding a proportionate approach consistent with SII principlesPlanning and Stress & Scenario Testing

Support the risk and capital related elements of the Strategic and Business Planning processes
Support the development, parameterisation, operation and analysis of sensitivity, stress and scenario tests in respect of the Group and its entities in conjunction with finance, actuarial and catastrophe modelling functionsManagement Committees

Coordinate the three-weekly management Risk & Return Committee, supporting the scheduling and development of inputs from across functions, minuting the outcomes and monitoring the delivery of actions
Represent the Risk Management function at other management committee meetings as required Subject Matter Expertise

Engage with relevant market, professional and regulatory bodies and attend appropriate events to maintain and develop understanding and knowledge of risk and capital management best practice

Skills & Experience

Essential:

2 to 4 years' experience of commercial (re)insurance in the London markets gained either from a Risk Management or an Actuarial background
Strong awareness and understanding of the principles of effective risk management spanning both traditional Operational Risk and those key areas of Intrinsic / Financial Risk faced by insurers
Knowledge of the details and concepts underpinning Solvency II and other applicable regulatory frameworks
Excellent written and verbal communication skills, with proven ability to communicate with senior management and external stakeholders
The ability to engage confidently with other functions, locally and remotely, and build effective and enduring working relationships
Excellent organisation skills, initiative and ability to work to fixed deadlines
Self-starter, comfortable working with limited supervision
Lateral thinker, able and willing to provide appropriate challenge
Possess strong technical / computer skills including working proficiency in Microsoft Excel and Word
Flexibility to work extended hours and travel overseas when requiredDifferentiators:

Good working knowledge of the principles and methodologies applied in capital modelling
Awareness and understanding of the methodologies applied to the management of underwriting risk including those in respect of elemental and non-elemental property casualty business
Awareness and understanding of the methodologies applied to the management of investment risk particularly in respect of fixed income asset portfolios
Experience of using deterministic capital models such as AM Best, S&P, BSCR, Solvency II Standard Formula

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