Overview

Chief Risk Officer

Permanent

Our client is looking to hire a Chief Risk Officer to join their Hannover based office on a Permanent basis.

Ref: 49360

  • Location: Hannover
  • Category: Actuarial
  • Type: Permanent
  • Pay Range: Up to €200k

Overview

Key Duties:

  • Responsible person for the actuarial function at group level
  • Assessment of underwriting risks and solvency position; assessment of the underwriting policy
  • Development and implementation of stress tests and scenario analyzes
  • Assessment of the the company’s asset liability management, definition of minimum requirements for conducted asset liability (modeling) studies
  • Responsible for the calculation of technical provisions (Solvency II) for non-life insurance
  • Consolidation and quality assurance of technical provisions in accordance with Solvency II
  • Assessment of reinsurance arrangements and other risk mitigation techniques
  • Responsible person for the risk management function at group level and for the domestic (German) insurance companies of the group
  • Coordination of the development and further development of the risk strategy and monitoring compliance with risk strategy requirements
  • Ad hoc and standard risk reporting to the management body (board) and established risk committees and supervisory body / committees
  • Quality assurance and approval of all risk analyzes and reports of the risk management function
  • Further development of risk management methods and processes
  • Encourage the risk culture in the group and ensure the definition of risk responsibilities
  • Calculation of the solvency capital requirements (regulatory capital requirements) according to the standard formula and assessment of the company-specific overall solvency needs (internal capital requirements)
  • Coordination and execution of regular risk inventories and event-related risk analyzes (insurance products, capital investments), outsourcing etc.
  • Examination and approval of mark-to-model asset valuation models
  • Proposal and monitoring of risk limits and early warning indicators as well as of strategic risk-control measures and continuous development of the limit system
  • Responsibility for further management systems, such as Business continuity management as well as the framework requirements for the internal control system and the outsourcing process. Preparation of risk committee meetings and further committees of management and supervisory body
  • Ensuring compliance with legal and regulatory requirements on risk management and also monitoring compliance with internal risk management guidelines
  • Responsibility for Business Continuity Management system and Emergency Management
  • Responsible for the framework and high level requirements for the internal control system and outsourcing process
  • Coordinating the internal control cycle including internal control reporting (e.g. the coordination of a self-assessment process with all senior staff; coordinate test of design and test of operating effectiveness of controls)
  • Coordinating the regular internal review of the system of governance
  • Coordinating the preparation of the regular supervisory reporting, as well as contributing to the preparation of the solvency and financial condition report as well as the regular quantitative supervisory reporting (quantitative reporting templates)
  • Coordinating the rating processes of the group (e.g. Standard & Poor’s)

 

Other Skills:

  • Ability to move confidently in a complex business environment and on different levels (on the one hand to speak technically with the team and on the other hand to focus on the key messages for the management and supervisory body)
  • Strong, well-established personality with open and respectful treatment
  • Strong team orientation
  • Strong communication skills with direct and open response to problems / mistakes and the ability to understand even complex issues
  • Consensus, result- and solution-oriented
  • Several years management experience in the insurance environment, leadership with conviction, assertiveness, implementation power
  • Resilient (must be able to work under pressure) and content ambition
  • Analytical and conceptual thinking
  • Fluent German and English
  • Very reliable; ability to comply with deadlines
  • Ability to communicate directly and adequately

Qualifications required:

  • Very successfully completed university study, ideally with economics or mathematical background
  • Affinity for auditing and/or Solvency II

Experience required:

  • Strong knowledge and experience in risk management as well as internal control systems
  • Experience in reporting to management or supervisory body
  • Broad knowledge of Solvency II, risk model calculations, own risk and solvency assessment (ORSA), etc.
  • Experience in advising or auditing insurance companies
  • Experience in risk management of an insurance company
  • Knowledge of asset liability management of insurance companies
  • Preferable: experience in cooperation with the Federal Financial Supervisory Authority (BaFin)

Consultant

Hayley Dunbar

Director

T: +44 (0)203 867 9827

Email me

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