Chief Risk Officer

1 month ago


Swindon, Swindon, United Kingdom Zurich 56 Company Ltd Full time
Job Title: Chief Risk Officer

Zurich Insurance Group is seeking a dynamic and strategic leader to fill the role of Chief Risk Officer (CRO) for our Life insurance business in the UK. This pivotal position supports the Life CEO and Board in facilitating the appropriate management of risks within ZAL and is responsible for the adoption of Group Risk Management processes and methodologies.

The successful candidate will play a crucial role within our global risk team, overseeing the performance of the ORSA ('Own Risk and Solvency Assessment') and reviewing the appropriateness of the minimum capital requirement being held. They will also be responsible for the design and validation of models used in support of the risk framework and the monitoring of capital, including internal models as defined by Solvency II.

The ideal candidate will have extensive understanding of and exposure to the UK Business, market and regulatory environment or be a CRO in a large, complex business within a heavily regulated market with Life Insurance experience. They will possess the ability to skillfully navigate the dual role of a pragmatic business partner while independently questioning decisions when necessary.

The successful candidate will be offered the position subject to the successful completion of Regulatory Reference requirements.

Key Responsibilities:
  • Design, develop and oversee the implementation of the risk strategy, appetite and policy that meet regulatory requirements.
  • Understand the commercial drivers of the business and have the capability to critically evaluate and challenge business strategies and plan delivery.
  • Maintain appropriate risk framework and risk culture to meet the risk strategy, appetite and policy requirements of the ZAL Board, in alignment with UK and Zurich Risk Policy.
  • Oversee the performance of the ORSA ('Own Risk and Solvency Assessment') and review the appropriateness of the minimum capital requirement being held.
  • Responsible for the design and validation of models used in support of the risk framework and the monitoring of capital, including internal models as defined by Solvency II.
  • Oversee implementation of and adherence to the risk strategy, appetite metrics, policy requirements and processes set by the ZAL Board including prudential risk elements.
  • Undertake risk assessments of, and provide risk opinions on, operational and strategic plans, and material changes to ZAL's risk profile including risk oversight of ZAL's outsourced activities.
  • Oversee the design and operational effectiveness of ZAL's risk systems and controls so as to maintain a strong internal control environment.
  • Provide oversight to operational resilience planning activities, ensuring that it is supported by appropriate and proportionate systems, resources and procedures from a risk perspective.
Requirements:
  • You will either have extensive understanding of and exposure to the UK Business, market and regulatory environment or be a CRO in a large, complex business within a heavily regulated market with Life Insurance experience.
  • Risk Management, Quantitative Risk and Controls expertise.
  • Possess the ability to skillfully navigate the dual role of a pragmatic business partner while independently questioning decisions when necessary.
  • A dynamic, proactive individual who will have a strong voice, able to bring constructive challenge alongside the CEO and Board in leading the ZAL business.
  • Be a role-model leader with a demonstrated ability to build, develop, and engage high-performing, inclusive teams within a matrix organization and reporting structure, with a strong emphasis on fostering diversity of thought.

This role is a Senior Management Function (SMF) role under the Senior Managers and Certification Regime (SM&CR), which is subject to regulatory approval.


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