Overview

Risk Analyst

Permanent

Our client is looking to hire a Risk Analyst to join their team in London on a Permanent basis.

Ref: 49132

  • Location: London
  • Category: Risk
  • Type: Permanent
  • Pay Range: Up to £35k

Overview

Key Duties:

  • Risk Framework and Documentation:
    • Support the Head of Risk Management in embedding and the effective monitoring and reporting of risk appetite, tolerances and actual exposures. Follow up and oversee effective resolution of any potential or actual risk tolerance breaches

Key Performance Indicators:

  • Timely resolution and reporting of issues and agreed actions

Accountabilities:

  • Risk Management Policies & Processes:
    • Assist the Head of Risk Management with the review of the Risk management policies
    • Support Head of Risk Management in development, reporting and quantification of stress and scenario tests. Support in the enhancement of existing process and documentation

Key Performance Indicators:

  • Ensure that the draft policies and documents are available in timely manner for the RCC and Board approval
  • Ensure that policies are promptly up loaded onto Pulsar once approved by the relevant approver
  • Assist the Head of Risk Management in the development of stress and scenario programme and the applicable review
  • Lead the operational risk assessment workshops and perform operational risk assessments and get the results reviewed and approved by the Risk Manager

Accountabilities:

  • Risk register:

Key Performance Indicators:

  • Play a key role in the development and revision of the risk register through capturing all risks and associated controls Record all relevant controls to each listed risk on the risk register
  • Discuss with the risk owner controls in place and assess their design and operational efficiency
  • Identify and escalate to the Head of Risk Management any controls gaps
  • Rate all listed risk and control
  • Escalate any risk exposure that I identify outside of the issues logged by the risk owner

 

Accountabilities:

  • Risk Monitoring and Reporting:
    • Support the Head of Risk Management in the development and production of risk reports for the various Committees and the AMAL Board for review by the Risk Manager

Key Performance Indicators:

  • Risk reports produced to time, with positive feedback from end users

RCC reporting:

  • Request and collect the tolerance data in timely manner from the stakeholders
  • Review the data received from the stakeholders
  • Assess the rating of each tolerance according to the data collected
  • Identify any issue logged as part of the Self-certification process and report them appropriately and timely to the RCC
  • Draft a complete and accurate RCC report including all relevant tolerances and issue rose through the self-certification process
  • Get the draft of the RCC report prepared with minimal errors and get it reviewed by the Head of Risk Management before finalising and submitting for RCC papers
  • Ensure that an efficient MI reporting process is in place

Accountabilities:

  • Solvency II
    • Have a good understanding of the Solvency II Pillar II requirements and their implications for operating activities within and outside of the Risk Function.  Play a key role in the Internal Model Validation of technical areas of AMAL internal model (e.g. underwriting and reserving risk) and other aspects of SII (e.g. ORSA, implementation of policies, Stress and Scenario testing etc)

Key Performance Indicators:

  • Ability to explain key SII concepts to the business
  • Able to present views on implications of ORSA and the Internal Model requirements on the Risk Function
  • Develops new processes and enhances risk reporting to meet SII requirements
  • Validation process:
    • Play a key role in the project management of the validation process to ensure that it is delivered to the relevant stakeholder in time
    • Complete the validation tests allocated to Head of Risk Management and get them reviewed and approved by the manager
    • Challenge the validators where the tests completion seems incomplete
    • Ensure that the validation report includes the outcome of all validation tests
    • Liaise with Actuarial Team during the validation process to ensure technical input
  • IM Change log:
    • Ensure that a IM change log is in place
    • Log every change request onto the IM change log as soon as received by Risk Management; update the log as the change request progress
    • Get all change requests and associated documents reviewed by the Risk Manager
    • Develop an efficient and reliable IM change request process. (Consider IT development)

Accountabilities:

  • Emerging Risk Group (ERG):

Key Performance Indicators:

  • Ensure that the ERG meet at least bi annually
  • Document the ERG meetings
  • Prepare ERG report for RCC, capturing latest update and get it reviewed by the Head of Risk Management
  • Provide appropriate information to the ERG to assess AMAL emerging risk exposure

Accountabilities:

  • Takes responsibility for own and colleagues’ Health & Safety at all times

Key Performance Indicators:

  • Statutory, personal and Company Health & Safety policy regulations are adhered to

Accountabilities:

  • Will act as a Business Recovery Team Deputy assisting the Head of Risk Management in the following:

Key Performance Indicators:

  • Maintain their team’s Business Continuity Plan and the Business Impact Analyses
  • Monitor the implementation of the organisation’s BC Strategy as it relates to their business area
  • Co-ordinate and prioritise departmental BC recovery activity
  • Liaise with the BCT Leader to ensure that support is offered, as required, to ensure the effective recovery of the department
  • Keep BC Recovery profiles for the department up to date, e.g. recovery location and contact details and recovery time objects

Accountabilities:

  • To ensure AMAL Customers are treated fairly at all times, in accordance with the Conduct Risk Policy and other relevant policies and procedures

Key Performance Indicators:

  • Compliance with applicable Lloyd’s Minimum Standards and AMAL policies and procedures
  • Satisfactory performance as reflected in relevant Conduct Risk MI

Consultant

Ross Watts

Consultant – General Insurance

T: +44 (0)203 861 5171

Email me

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