Avencia Consulting are working on behalf of a market leading specialty insurer currently seeking a talented Operational Risk Manager to join a highly regarded team at a time of transformation and change. An opportunity exists to have significant input into risk framework design and development.
The Operational Risk Management team supports strategic priorities by helping to ensure that informed business decisions are made related to risks in proposed and existing processes.
The Operational Risk Manager will support the Head of Operational Risk with establishing and maintaining an appropriate operational risk management framework and infrastructure for the Group.
The individual will have a significant role in progressing the Group Operational Risk Management frameworks, methodologies, and processes to identify, measure, assess and control operational risks. The individual will coordinate with the Legal Entity risk teams to deliver the operational risk management strategy and capabilities.
Support the Head of Operational Risk to enhance and maintain Group-wide methodologies and frameworks to ensure a consistent approach to operational risk management and common Taxonomy across the Assurance Functions
Collaborate with the business and Legal Entity Risk Management teams to maintain Risk and Control registers covering the non-financial risks as defined in the Operational Risk Management framework
Continuously monitor the Group's risk profile and develop key risk indicators and other metrics to ensure timely identification, escalation, mitigation and management of new, emerging or changing Operational Risks
Aggregate risk data and synthesize key operational risk themes for reporting to senior management, risk governance forums and Board level Committees
Provide Operational Risk support and advice to Legal Entity risk teams and business partners, including participating in risk reviews and assessments of new business activities and change initiatives to ensure material operational risks are identified and appropriate controls are implemented
Assist in the coordination of the Group-wide Risk and Control Self-Assessment process, including evaluating results to form an assessment on the overall effectiveness of the control environment
Support the Group CRO, Head of Risk and Head of Operational Risk to maintain relevant operational risk management policies and related standards
Contribute to development of annual Assurance plan, by defining points of focus for assessments, and participating in insightful risk management conversations
Work collaboratively within the integrated assurance framework to ensure that assurance work is coordinated, and results shared with other assurance providers, including Compliance and Internal Audit.
Assist Risk Management leadership with preparation of materials for Group and Legal Entity risk reporting process to executive committees, and Audit / Risk Committee(s) of the Board of Directors
Other responsibilities as may be appropriate.
Skills & experience
Ability to develop and sustain relationships at all levels, devote time to develop self and others.
Delivery focused, with high energy and drive, and ability to deliver through others.
Sound commercial judgment, able to understand complex processes and structural issues with capacity to go into detail, draw connections, explain succinctly and act decisively and quickly.
Innovative and able to drive change in order to simplify and strengthen policies, processes and procedures.
High level of personal confidence; able to lead and manage projects and change through influence and persuasion.
Leadership courage with the ability to challenge key business decision-makers.
Must be able to build strong relationships within the business and the wider risk team and community
More than 5 years operational risk experience, preferably within the insurance industry
Bachelor's Degree, with recognised professional qualifications preferred
Industry acumen, including knowledge of business operations, finance, risk, as well as a working understanding of the actuarial aspects.