Manager, Operational Risk

3 weeks ago

London, United Kingdom Lloyd's Full time

Lloyd’s is the world’s leading insurance andreinsurance marketplace. We share the collective intelligence and risk sharing expertise of the market’s brightest minds, working together for a braver world.

Our role is to inspire courage, so tomorrow’s progress isn’t limited by today’s risks. 

Our shared values: we are brave; we are stronger together; we do the right thing; guide what we do and how we act. If you share our values and our passion to build a future that’s more sustainable, resilient and inclusive, you’ll find a home at Lloyd’s – build a braver future with us.

Lloyd’s is seeking to recruit a Manager Operational Risk on a 6 Month contract inside IR35. You will contribute towards the successful development and execution of the Lloyd’s risk framework, ensuring the key risks to Lloyd’s are well understood and appropriately managed. To engage strategically with functions responsible for management of operational risks, providing robust oversight and challenge to risk exposures.

Principal Accountabilities

To operate and enhance the framework to identify, assess and monitor the operational risks faced by Lloyd’s, principally people, process, systems and external risks arising from the activities of the Corporation.

To provide robust risk oversight and challenge to the functions allocated to this role who are responsible for managing operational risks, making recommendations for improvements in the control environment where necessary. Maintain ongoing monitoring of the key current and emerging operational risks facing Lloyd’s.

Support / lead strategic, thematic reviews of key risk areas, reporting conclusions to the senior management where required. Support Lloyd’s response to regulatory engagement on operational risks, including those in relation to operational resilience

Working with executive management, ensure the operational resilience of Lloyd’s remains within the risk appetite of the Council and Lloyd’s remains able to deliver core services and regulatory responsibilities, both at a Corporation and market level.

Provide regular reporting to management and relevant governance forums as required, including the Risk Committee. Attend and actively participate in relevant management and risk governance forums and project meetings.

Contribute towards the successful delivery of the Lloyd’s risk framework, for example by supporting to the Risk and Control Self-Assessment (RCSA) process in order to provide assurance to the Council that risks are being managed within risk appetite.

Liaise with a range of stakeholders, including at senior levels, across Lloyd’s to gather, assess and report key risk information, for example in reviewing the Lloyd’s risk register and risk appetites.

Produce a range of regular and ad hoc reporting to provide the risk committees with the management information required to assess risk exposures, for example risk appetite reporting, relevant dashboards/reports, risk opinion papers and ORSA reporting.

To respond with agility to requests (e.g. ad hoc projects) from the Chief Risk Officer or Head of Risk Management

To support the broader Risk & Regulatory Function, and the Corporation as a whole, address risks and issues arising from the Lloyd’s risk profile. To engage effectively with risk representatives and other risk specialists embedded across the business.

Skills Knowledge and Experience

Good knowledge of risk management

Good understanding of the insurance industry and the Lloyd’s market preferred

Good knowledge of business operations, processes and key associated risks, including people, process and technology

Experience in working as part of a high performing team to successful risk management outcomes

Experience in dealing with complex stakeholder communication and negotiation

Experience in managing senior stakeholders including challenging or unsupportive stakeholders

Good experience of risk management frameworks, tools and processes

Demonstrable stakeholder management skills to build relationships with a range of senior stakeholders. This will include an ability to actively influence at senior management levels with a confidence to deliver the right risk outcomes at senior levels of the organisation.

Expert technical risk management skills are required to be able to define and shape industry leading risk management tools which are tailored to the unique Lloyd’s business model as well as satisfying regulatory requirements.

The successful candidate should have excellent analytical skills and be able to effectively communicate (in both written and verbal forms) and engage in debate on complex topics. Evidence of influencing outcomes with senior management in both formal (e.g. committee) and informal settings is critical

Time management skills – used to working to deadlines and under a certain amount of pressure. Ability to maintain effective personal workload plans that are achievable, prioritised appropriately and meet business objectives.

Team working – should be used to working as part of a team, making effective contributions to team meetings and team initiatives and also be able to take ownership of tasks and projects whilst often working remotely and without supervision

Challenge – ability to productively challenge technical experts across Lloyd’s and be robust/resilient under scrutiny

Strong relationship management and communication skills – the role will involve a large amount of engagement with stakeholders at various levels across the Corporation, including the production of analysis reports which must be clear, accurate and easily accessible to both technical experts and those with a more general understanding of risk management.

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