Manager, Financial Risk (Assets and Capital) | London, UK

Lloyd's; London; Hybrid; GBP 60,000 - 100,000

Job description

Manager, Financial Risk (Assets and Capital)

Lloyd's is the world's leading insurance and reinsurance 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 Financial Risk Manager (Assets and Capital) on a FTC (Fixed Term Contract) due to a number of internal promotions within the Team. The role is responsible for ensuring the effective management of the financial risks faced by Lloyd's, with a focus on those impacting the capital or assets of both the Corporation and the wider Lloyd's market.

Principal Accountabilities:

1. Contribute to the identification and assessment of the financial risks faced by Lloyd's, in particular capital, investment and liquidity risks.
2. Provide robust risk oversight and challenge to the functions responsible for managing those financial risks, making recommendations for improvements in the control environment where necessary.
3. Provide risk input into key Lloyd's strategic finance-led initiatives, including providing formal risk opinions as required to outline potential impacts on the risk profile and control environment.
4. Provide robust challenge to the capital, investment and liquidity syndicate oversight functions at Lloyd's to ensure a risk-based approach to Lloyd's supervision is adopted and applied in line with Lloyd's overarching oversight framework.
5. Assess forward looking risk landscape and conduct thematic reviews and implement any recommendations or findings in conjunction with relevant Corporation teams.
6. Assist in the validation of Lloyd's Internal Model with particular focus on the Lloyd's Investment Risk Model and the appropriateness of financial market assumptions derived from the Economic Scenario Generator.
7. Develop the processes, systems and data analytics that the risk team use to engage with and oversee functions. Help to design frameworks for risk engagement in key strategic decision making (including but not limited to the New Entrant framework, Syndicate Capital Oversight).
8. Support the production of regulatory submissions and requests, the ORSA (including the co-ordination of Stress & Scenario testing) and regular risk monitoring and reporting to management, including reporting to the Risk Committee, escalating heightened risks as required.
9. Build and maintain excellent relationships with all relevant Corporation departments, including Market Reserving & Capital, Lloyd's Treasury & Investment Management and Central Finance.
10. Respond with agility to requests (i.e. adhoc projects) from the Chief Risk Officer or Head of Risk Management.

Skills, Knowledge and Experience:

1. Breadth of experience of risk management frameworks and methodology with detailed knowledge and experience of Solvency II and current trends in UK regulation.
2. Track record of delivery of strategic risk lead initiatives and subject matter authority.
3. Evidence of influencing outcomes with senior management in both formal (e.g. committee) and informal settings.
4. Experience of investment risks and financial markets.
5. Experience in risk and capital modelling including Economic Scenario Generators.
6. Experience in managing senior stakeholders including challenging or unsupportive stakeholders.
7. Risk management knowledge.
8. Understanding of financial markets and the role of different asset classes and derivatives in insurers' investment portfolios.
9. Knowledge of the nature of key Financial Risk including capital, investment and liquidity risk.
10. Experience in risk modelling.
11. Understanding of Solvency II requirements.
12. Knowledge of the nature of insurance liabilities.
13. Good understanding of the Lloyd's market would be an advantage.
14. Qualified actuary or CFA Charterholder.

Diversity and inclusion are a focus for us - Lloyd's aim is to build a diverse, inclusive environment that reflects the global markets we work in. One where everyone is treated with dignity and respect to achieve their full potential. In practice, this means we are positive and inclusive about making workplace adjustments, we offer regular health and wellbeing programmes, diversity and inclusion training, employee networks, mentoring and volunteering opportunities as well as investment into your professional development.

We understand that our work/life balance is important to us all and that a hybrid of working from the office and home can offer a great level of flexibility. Flexible working forms part of a total reward approach which offers a host of other benefits over and above the standard offering (generous pension, healthcare, wellbeing etc). These include financial support for training, education & development, a benefit allowance (to spend on our flexible benefits such as gym membership, dental insurance, extra holiday or to partake in our cycle to work scheme), employee recognition scheme and various employee discount schemes.

By choosing Lloyd's, you'll be part of a team that brings together the best minds in the industry, and together with our underwriters and brokers, we create innovative, responsive solutions allowing us to share risk and solve complex problems.