Climate Risk

**Climate Risk & Strategy (Insurance) Professional** **The Role **Are you experienced in Climate Risk & Strategy (Insurance) and looking for an exciting opportunity at the cutting edge of the global agenda on climate change? I am currently recruiting for a proven Climate Risk & Strategy (Insurance) professional, for a hybrid / smart working role, to join my Client's Climate Risk & Strategy Team in the UK. The Climate Risk & Strategy Team leads on the climate topic, including around climate risk and decarbonisation strategy. This is a fast-growing team focused on one of the defining issues of our time and the role of Climate Risk & Strategy (Insurance) professional presents an exciting opportunity both in terms of professional opportunity and potential for real-world impact.The Client's team has been formed to help their clients across corporate and financial services to respond to the immense, systemic challenges posed by climate change. Amongst other activities, you will help clients to identify and quantify climate risks and opportunities faced by their businesses to meet regulatory, investor and stakeholder demands; analyse and assess the range of mitigation and adaptation strategies available to address climate risks (including the adoption of net zero strategies, carbon market participation and transition planning); ensure business are positioned to capture the opportunity from climate change; implement the strategies; and, finally, embed the risk, strategy, targets and governance into financial reporting, helping to pave the way to a low carbon economy.**As a Climate Risk & Strategy (Insurance) professional your day-to-day duties will involve, but not be limited to**: Managing and actively originating Climate Risk and Decarbonisation Strategy engagements by: - Building and maintaining relationships with target clients and key market constituents across the insurance space including general insurers, life insurers, brokers and the London market - Monitoring regulatory and other market trends to identify new propositions to support financial services clients including guidance from the FCA, PRA, BoE and wider climate organisations (e.g., TCFD) - Managing delivery of several engagements on a day-to-day basis and managing medium to large size projects or work streams - Being responsible for the quality of deliverables produced, including qualitative and quantitative analysis as well as written and verbal advice - Effective management, coaching and mentoring of junior staff - Ensuring internal and external compliance procedures are adhered to - Developing the team culture and inspiring and empowering team members to be the best - Any other duties commensurate with the role. **Essential Skills / Qualifications**:As Climate Risk & Strategy (Insurance) professional you will be expected to demonstrate the following skills and experience: - Insurance industry knowledge across each sector including, but not limited to; - Life insurance - Understanding of how life insurance companies function beyond financial reporting, including an understanding of primary KPIs (APE, VoNB, VIF, SII Capital Generation, dividend capacity) - Life insurance products (annuities, with profits, drawdowns, ERM, bonds etc.) - Life insurance fund structures (non-participating, participating, unit-linked) and how each type generates profit - Understanding of the types of asset products used to support insurance liabilities (e.g., corporate credit, sovereign debt, equity products, MBS and ABS etc.) and key determinants of value (e.g., risk-free rates, credit spreads etc.) - General insurance - Understanding of how general insurance companies function beyond financial reporting, including an understanding of primary KPIs (loss ratios, expense ratios, combined ratios) - Knowledge of different lines of insurance business - Knowledge of IFRS4 accounting (GWP, UPR etc.) - Reinsurance - high level understanding of reinsurance and contract types (e.g., treaty, FAC, XOL etc.) - Managing General Agents ("MGA") and brokers - An understanding the role of MGAs, brokers, bancassurance in the industry and their commercial structures (e.g., regular commissions, profit commissions and other arrangements with carriers) - An understanding of Lloyds of London including structures and features (e.g., syndicates, managing agents, FAL etc.) - A high-level understanding of Solvency II concepts (e.g. OF, SCR, MA portfolios), SII key risks (e.g. mortality, morbidity, lapse, expense, market etc.) and reporting components (e.g. SFCR, ORSA etc.) - Basic knowledge of IFRS17 (beneficial) - Legally entitled to work in the UK With a competitive salary and package on offer and great prospects this is an ideal time to join my prestigious international Client. Carbon60, Lorien & SRG - The Impellam Group STEM Portfolio are acting as an Employment Business in relation to this vacancy.